Late on Monday, top mutual fund manager Vanguard Group said, it will no more pursue plans to obtain a license to run a fund management company in China. The discontinuation of the outsourcing augurs well for the United States since… Read More ›
fintech
Mark Carney, former head of UK and Canadian central bank, joins fintech Stripe Inc’s board
In a significant development, Mark Carney, the former head of the UK and Canadian central banks, has joined Stripe Inc’s board of directors. The development comes in the wake of the company reporting that it plans on a funding round… Read More ›
Ant Group set to close $17.2 billion Hong Kong and Shanghai institutional offer 1 day ahead of schedule
According to two sources with direct knowledge of the matter at hand, China’s Ant Group is set to close its Hong Kong institutional book building a day ahead of schedule, as it races to raise $17.2 billion from the city…. Read More ›
Robinhood Markets Inc faces a potential fine of more than $10 million from the SEC
According to a report from the Wall Street Journal, Robinhood Markets Inc is being investigated by the U.S. Securities and Exchange Commission (SEC) over its early failure to fully disclose its practice of selling clients’ orders to high-speed traders. The… Read More ›
Brexit slashes Britain’s economic growth to lowest in a decade
The British Chambers of Commerce (BCC) has warned of greater economic harm if the geo-political scenario does not quickly get a more stable footing. As per the British Chambers of Commerce (BCC), companies across industry segments are looking to cut… Read More ›
Britain based financial services likely to have limited market access to EU’s single market regime
The services of London-based financial services, including funds, banks and insurers are likely to be capped in their access to EU’s single market regime. Bloomberg has reported, citing a draft document, that the European Union plans on providing British-based financial… Read More ›
Japan’s No.3 property and casualty insurer, Sompo, sets up base in Israel
Sompo is looking to invest in Israeli startups which specialise in cyber security, life sciences and agriculture. Sompo Holdings Inc, one of Japan’s top three property and casualty insurers, has become the first Japanese insurer to set up a fintech… Read More ›
Hong Kong and Singapore link up their trade and finance platforms to blockchain technology
The project aims at harnessing the benefits of Distributed Ledger Technology (DLT), also known as blockchain, to better tap into the synergies of $2 trillion worth of transactions between the two nations. On Wednesday, the central banks of Hong Kong… Read More ›
Fintech startup AutoFi Inc raises $10 million in funding round
The company aims to utilise the freshly received funds to expand its footprint in the U.S. and in international markets. AutoFi Inc, a fintech startup that caters exclusively to the auto industry, has raised $10 million in a Series A… Read More ›
U.S. Fintech firm Fiserv offers to acquire UK-based Monitise for $98 million
Fiserve has managed to secure a significant 9.9% of Monitise’s issued share capital in its bid, thus ensuring that the bid is likely to sail through. Fiserv, a U.S. fintech company has upgraded its offer to $98 million (75 million… Read More ›
