Finance/Venture

BlackRock reports 20% decline in Q1 net income

BlackRock on Thursday announced a 20% fall in its earnings for the first quarter that ended March 31, 2016. The company registered a restructuring cost of $76 million in the current period with regard to its organization simplifying plan.

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Financial Sector Led Rally in Wall Street as Global Stocks Peaked to Highest Level

Wall Streel indexes continued to stay in positive territory as financial sector was catching up. Global stock market responded and climbing to the highest level in 2016.

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IMF and World Bank Started Annual Spring Meeting To Discuss Global Economy

Leaders of the world's economy began their regular meeting on Thursday discussing necessary steps to boost growth and consumption. While G20 also held a meeting with similar agenda.

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The U.S. Court Allowed Argentina to Sell Bonds in Global Market

The U.S. Court of Appeals on Wednesday cleared Argentina to sell $15 billion bonds in the market. The country expects to issue the bonds within this week.

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London and European Stock Market Rallied Following Surge of China's Export

London's FTSE 100 rose on Wednesday to reach record high. European shares continued its rally led by mining stocks as China reported increase of export.

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Five Large US Banks Do Not Have Sufficient Plan for Crisis Due to Lack of Information

GAO suggested financial regulators to disclose more information on their crisis policy framework. While five large banks do not have enough plan to manage operation during crisis.

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San Fransisco and Dallas Fed President Expected to See Interest Rate Hike Soon

Two other Fed presidents suggested the US central bank to raise interest rate. San Fransisco's John Williams said two or three rate hike in 2016 is reasonable. While Dallas' Rob Kaplan reminded to be patient.

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Goldman Sachs to Pay $5 Billion Settlement Over Troubled Mortgage-Backed Securities

The lender must pay settlement for its misconduct in selling securities backed by troubled mortgage in 2008. The agreement reached Monday.

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Two Fed Presidents Supported Rate Hike in the March's Meeting

Richmond and Kansas City Fed President supported to raise the interest rate during the meeting last March. While Philadelphia Fed President on Tuesday reitereated the hike delay is a prudent decision.

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Accel Announced New $500 Million Fund Targeting European and Israeli Startups

Palo Alto-based venture firm Accel has raised a new fund. The fund is targeting the next generation of entrepreneurs in Europe and Israel.

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Former Top Advisor Proposed Regional Fed Banks To Be Public

Dartmouth College Professor Andrew Levin, former advisor to Janet Yellen made a proposal to reform the Fed. He also suggest the Fed to be reviewed by GAO annually.

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European Stock Extended Last Week's Gain Led by Banking and Commodity Sectors

Stoxx Europe 600 Index continued last week's gain. The index sets a new course for the first back-to-back advance in two weeks.

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Dollar Touched the Lowest Point Against Yen in 17 Months on Monday

Japanese yen surged against dollar on Monday. Speculation from non-Japanese short-term currency players pushed the currency to the highest point against dollar.

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Venture Capital Investment in China Surged Amidst Global Slowdown

Investments in Chinese tech companies had a 50% surge in the first quarter of 2016. Nevertheless, many of the investments were spent in the big startups.

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India Uses Its Biometric Database to Enable Banking Access for The Country’s 1.2 Billion Population

India is using its wide biometric ID system, the Aadhar database, to bring banking services access to more of its people. An Indian bank already introduced an ATM where people can use their Aadhar ID number or ID card to make transactions instead of a PIN.

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