News
Grab is raising at $2.3B valuation
Uber rival Grab is raising at $2.3B valuation, reportedly burning $35M a month Grab, the company that rivals Uber in Southeast Asia, is in negotiations to close a new round of funding that could value it as high as […]
Mobile payments get boost from chip-card woes
Chip cards are more secure than magnetic-strip cards but take twice as long to process at checkout, averaging 13 seconds. Consumer frustration with chip cards could pave the way for greater acceptance of mobile transactions, […]
China’s IPO Market posts spectacular gains
The share prices for Chinese companies with recent initial public offerings are posting spectacular gains. The average increase for the 62 companies that have completed their first month of post-IPO trading this year is a […]
BoE cuts interest rate to a record-low 0.25%
The Bank of England has cut its key interest rate by 25 basis points to a record-low 0.25%, moving to cushion the blow of the UK’s planned withdrawal from the EU. The central bank says […]
Assets managed by robo-advice platforms jumped by 61%
The value of assets managed by registered investment advisers’ robo-advice platforms jumped 61% in the 12 months through March 31, according to a study by InvestmentNews and BlackRock. Only 8% of advisory firms have robo-advice […]
China will cut interest rates
The National Development and Reform Commission, China’s top state planning agency, said the country will wait for “the appropriate time” to bring down interest rates and relax the bank reserve requirement ratio. The commission said […]
Time Warner invests $583M in Hulu
Time Warner has acquired a 10% stake in streaming service Hulu for $583 million. The partnership is part of Hulu’s strategy to become more competitive by offering live and recorded content from cable and broadcast, […]
R3 blockchain consortium adds Thomson Reuters
Thomson Reuters has joined R3, a global consortium of financial institutions working to apply blockchain technology to the financial industry. Thomson Reuters is the first major data and technology provider to join the consortium. Reuters […]