Spanish police are reported to have raided several departments of Catalonia’s regional government as tensions rise between Madrid and the pro-independence regional government over a banned independence referendum. Several news reports state that Spain’s Guardia Civil entered several departments of the Catalonian government this morning, arresting a junior minister, as they continue to seek more […]
Read moreThe long-term battle on trade between the U.S. and China shows no sign of ending as a war of words ensued this week between the two. First, U.S. Trade Representative Robert Lighthizer called China an “unprecedented” threat, because of the “sheer scale of their coordinated efforts to develop their economy, to subsidize, to create national […]
Read moreCEOs of U.S. banks are likely “very afraid” of bitcoin, according to a wealth advisor. Some financiers have said the cryptocurrency is an unwise investment because of its volatility or supposedly weak store of value, but bank chiefs have another reason to dislike bitcoin, said Rainer Michael Preiss, executive director at Taurus Wealth Advisors. “Of […]
Read moreRegulators are scrutinizing the new red-hot fundraising trend in which start-ups and blockchain companies bring in millions of dollars by issuing virtual tokens to investors in exchange for money. But one Japanese billionaire investor thinks that, with time, the so-called initial coin offerings (ICOs) will become one of the “greatest major methods” for start-ups to […]
Read moreEuropean markets were set to open mixed on Wednesday morning, as investors observed heightened geopolitical tensions over the Korean Peninsula and awaited monetary policy guidance from the Federal Reserve. Britain’s FTSE 100 is poised to open 5 points higher at 7,276; the German Dax is expected to open down by around 15 points at 12,545 […]
Read moreGermany’s Thyssenkrupp and India’s Tata Steel struck a preliminary deal on Wednesday to merge their European steel operations in a 50-50 joint venture to create the continent’s No.2 steelmaker after ArcelorMittal. The deal will not involve any cash, Tata Steel said, adding that both groups would contribute debt and liabilities to achieve an equal shareholding […]
Read moreThe ultra-wealthy are allocating more of their money to equities and less to hedge funds and real estate this year, a survey of family offices published on Wednesday found. Equities accounted for 27.1 percent of the average family office portfolio, the survey from UBS Wealth Management and Campden Research said. Equities allocation rose about 1.6 […]
Read moreTroubled Japanese conglomerate Toshiba has selected a group comprising Bain Capital and South Korea chipmaker SK Hynix to buy its prized memory business, according to Reuters, citing sources. The move came after Toshiba and Western Digital failed at the last minute to agree on limits to the latter’s future stake in the chip business, Reuters […]
Read moreLondon-based financial tech firm TransferWise’s new “borderless account” allows users to hold money in multiple currencies, and that could help businesses conduct their activities much more efficiently, according to the start-up’s CEO. “In addition to keeping a balance, which you can do in 27 currencies, you will also get local account numbers in U.S., in […]
Read moreGaming company Razer has confirmed it is in the process of developing a mobile device focusing on gaming and entertainment. “One of the most hotly rumored things about Razer is that we’re coming up with a mobile device. And I can say that we are coming up with a mobile device specifically geared toward gamers […]
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