British fintech startup Revolut has reached a significant milestone, achieving a valuation of $45 billion in a recent secondary share sale involving existing and new investors. The company’s valuation marks a substantial increase from the $33 billion it attained in… Read More ›
Global investors showed a strong preference for lower-risk assets, focusing on money market and government bond funds in the week leading up to August 14, as they awaited clearer signals on the state of the U.S. economy. According to data… Read More ›
The rising demand from Chinese investors for offshore investments has led foreign banks and fund managers to struggle with limited outbound-investing quotas, despite recent selloffs in U.S. and Japanese markets. Firms utilizing China’s Qualified Domestic Institutional Investor (QDII) program are… Read More ›
Phool dev Shahni, like his father and grandfather before him, once earned his livelihood by diving into 8-foot-deep muddy ponds to harvest makhana, or lotus seeds. “I used to dive in 7 to 8 feet of water for hours a… Read More ›
Inflation in the euro zone unexpectedly rose to 2.6% in July, according to data released by the European Union’s statistics agency on Wednesday. This increase contrasts with the 2.5% inflation recorded in June and defied economists’ expectations, who had forecast… Read More ›
Nomura Holdings, Japan’s largest brokerage and investment bank, reported a remarkable 195% increase in first-quarter profit on Tuesday, driven by a global market rally and the resurgence of domestic inflation, which boosted demand for its wealth management services. The impressive… Read More ›
Standard Chartered (StanChart) has unveiled its largest-ever share buyback of $1.5 billion and has raised its income outlook for 2024, driven by anticipated strong economic growth in its key Asian markets and a strategic plan to control costs. The London-based… Read More ›
Switzerland’s financial regulator, FINMA, is closely examining how UBS screens risky wealthy clients being transferred from Credit Suisse, sources revealed. This comes as the regulator adopts a proactive stance in overseeing the bank’s integration of its fallen competitor. Earlier this… Read More ›
A deeper debate about the appropriate platform to advance the agenda was covered up by the first-ever unified declaration by G20 finance chiefs on Friday, wherein they pledged to work in order to properly tax the world’s richest fortunes. The… Read More ›
A first estimate released by the Commerce Department on Thursday indicates that the second quarter of U.S. economic activity was far higher than anticipated. After accounting for inflation and seasonality, the real gross domestic product—a measure of all the goods… Read More ›
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