Fidelity Investment wrote down many of tech startups in its January valuation report. Canadian startup darling Hootsuite Media Inc. was among the list.
Finance/Venture
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Foresters and Proj Fox Acquisition have signed a deal on February 29, 2016, whereby, Foresters will indirectly buy both Aegon Fund Management (AFM) and Aegon Capital Management (ACM).
Joyce Phillips, head of Australia & New Zealand Banking Group's wealth management business, is stepping down from the bank after a restructure of wealth business. The restructuring move will reduce the bank's expenses.
The world-biggest asset management firm, BlackRock Inc warned that withdrawal from EU will damage financial sector in the UK. The nation will face higher unemployment and inflation if Brexit's decision is taken.
Following slow start of the year, tech companies began to come to life. As Palo Alto Networks, Splunk and Salesforce.com brought Nasdaq to soar 2% in the last five trading days.
Puerto Rico, the island territory of U.S. is in the crisis due to its surmounting debt. Governor Alejandro Garcia Padilla repeated the island's debt will lead to moratorium.
China is working on a new financial super-regulator mechanism to take care of banking, securities and insurance segments under one umbrella. Recent turmoil in the financial markets are driving the Chinese government to revamp financial monitoring mechanism.
India is about to fund $3.56 billion of capital to govrnment-run lenders because of bad and restricted loans. Banks felt relief as the government is ready to help them when they need the capital.
Year 2015 was dubbed as year of fintech. As financial technology startup companies flourish and gain huge fund. Global regulators are closely monitoring the fintech startups and will propose rules to regulate them.
European Central Bank (ECB) is expected to launch monetary stimulus next month to help banking system in euro zone. Norwegian's biggest bank DNB ASA supported the effort as stated by its chief of asset management.
Following CDC announement of the risk of carcinogen in its product, the company's stock plunged since last week. Lumber Liquidators is trying hard to win back trust from customers and investors.
Alibaba plans of expanding and venturing into other business the reason it is seeking $4 billion in loans. It is already in talks with several banks and the request will be finalized by next month.
Hedge funds are favoring eHi Car Services Ltd (NASDAQ:EHIC) stocks. Many hedge funds are reportedly increasing their collective stake in the China's car rental company.
As the birthplace of venture capital in 1960's, a report from Martin Prosperity Institute showed that San Francisco is still leading venture capital investment in the United States. While New York and East Coast region followed behind.
OJK Issued a new regulation with regards to Venture Capital Companies. The new provision changes the licensing and organization of venture capital companies, and includes sharia law and sharia-based legal entities.
