Finance/Venture

Deutsche Bank Reported €6.8 Billion Loss in 2015 Due to Poor Performance and Litigation Cost

Deutsche Bank AG reported €6.8 billion ($7.2 billion) losses in 2015. As a result, co-CEO John Cryan and Juergen Fitschen announced on Thursday that the management board will not receive bonus.

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East Africa Islamic Finance Summit 2016 Will Be Held to Discuss Islamic Finance

The summit will provide a platform for foreign investors, African companies, and regulators to meet, discuss relevant issues, and form relationships. East Africa has a strong potential to develop Islamic Finance because of the high demand for its services and products.

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Cuba and United States continue to improve its relation

The Barack Obama administration announced more restriction lift on Cuba thus helping to improve the country's economy. The restriction lift will allow film shooting, travelling access and also a direct trade with the state run enterprise there.

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Some Tech Startups Will Be Rabbits in 2016, Said Venture Capital Analyst

Unicorn is a term defining a startup company with over $1 billion valuation. Now, there will be other group of tech startups defined as "rabbit" to differentiate them from unicorns-overhype that become unicorpse.

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JPMorgan Chase to set up cardless ATMs that dispense different denominations

JPMorgan Chase is all set to revolutionize the concept of ATM cash withdrawals. The bank will introduce the new system in the form of e-ATMs which will basically render bank cards redundant. The machines will dispense cash via a simple mobile app, in different denominations like $1, $5, $20, and $100 bills. At the same time, Chase has increased the withdrawal limit by three times, at $3000.

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Russian Ruble Plunged To Record Low as Oil Price Keep Sinking

Russian ruble is decreasing and hits all-time record low against dollar last week. Starting this week, the currency started its way to recover and reach 10- day high.

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Baidu is Determined to Enter the Markets of Autonomous Cars

The statement came from Baidu's senior vice president Wang Jing. He believes that Baidu has some advantage over other car makers, especially local knowledge. The company has already invested a lot in the development of AI, that could help the development of autonomous cars.

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Dow Jones Continues to Drop on Monday and Market Waits for The Fed Meeting This Week

U.S. stock declined sharply on Monday over concern of economic condition and oil price. The Fed is scheduled to have a meeting this week, and market anxiously wait for the next step U.S. central bank will take.

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Finance Tech Company Bluevine Completed Its Series C Funding

BlueVine the fintech startup company completed its $40 million in Series C funding last Wednesday. The investment was led by Menlo Ventures and other participants.

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Major banks funding Bitcoin startup on recording blockchain deals

A bitcoin startup Digital Asset Holdings has received funding from major banks. It will work closely with investors on research and commercialization of bitcoin technology applications. Digital Asset said that it has raised over $50 million funding from 13 investors. The list of investors includes JPMorgan Chase & Com, Citigroup Inc, BNP Paribas SA, CME Group Inc and Accenture Plc.

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Elevate Credit, VC-backed Online Lender, Postpones Its IPO

The subprime online lender company Elevate Credit delays its IPO scheduled on Thursday. Teetering market has been the main reason of the postponement and high risk of online subprime lending service.

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Chinese Venture Capital Cocoon Networks Open a $700M Fund in London

Cocoon Networks, a Chinese-backed venture capital group is setting up a £500 ($700) million fund in London. The fund is aimed to invest in European tech startups.

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GM Acquires Sidecar After Lyft, Strengthens Urban Mobility Team

After acquiring Lyft Inc, GM has also purchased ride hailing pioneer, Sidecar. The acquired entity has been tattering in consecutive years for ever growing competitions with rivals like Uber and Lyft. With the acquiring, GM now will be able to play a more active role in relative fields with the new two subsidiaries.

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IMF Slashes Global Forecast Due to China Economy Slowdown

The decreasing of China’s economic growth to the lowest rate in the last of 25 years has influenced the world’s economy. It made the International Monetary Fund slashed its global growth forecast for the third time in less than a year.

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