Royal Bank of Scotland will pay $5.5 billion to settle one of the two major U.S. investigations into allegations it mis-sold mortgage-backed bonds that it needs to resolve before the government can sell its shares in the bailed-out bank. The Edinburgh-based bank lender on Wednesday said it agreed to settle the lawsuit with the U.S. […]
Read moreCurrency, United States Finance
Samsung to back European start-ups with $150 million investment fund
Samsung‘s venture capital arm announced Wednesday it is expanding into Europe to invest in the continent’s start-up scene. Samsung NEXT will use a $150 million global fund raised in January to target early stage start-ups in Europe for investment or acquisition, focusing on tech companies working on artificial intelligence, the internet of things, augmented reality […]
Read moreMicrosoft is putting its artificial intelligence technology to work to help the visually impaired. The company said on Wednesday that it’s releasing an iOS app called Seeing AI that uses an iPhone’s camera to tell people about objects in front of them. The app shows off Microsoft’s current capabilities in AI, while also addressing a […]
Read moreFederal Reserve Chair Janet Yellen emphasized Wednesday that the central bank is closely watching tepid inflation data but that she still expects to begin shrinking its $4.5 trillion bond portfolio later this year. In prepared remarks for her semiannual testimony Wednesday and Thursday on Capitol Hill, she said that the bond portfolio, or balance sheet, […]
Read moreIPhone and iPad users can now make purchases on the iTunes App Store with PayPal. This might help quell fears among holdouts still worried about using their credit cards online. PayPal’s service is now available in the United States, Canada, Mexico, the company said Wednesday. Customers can swap to the PayPal payment option by opening […]
Read moreIt’s been a dark few weeks for the venture capital industry, which has been stung by repeated stories of sexual harassment. A new fund by women and for women should come as a welcome development to female entrepreneurs. XFactor Ventures, a $3 million fund backed by venture firm Flybridge Capital Partners, has been formed to […]
Read moreCheck out which companies are making headlines before the bell: Harley-Davidson – Bernstein downgraded the motorcycle maker to “market perform” from “outperform,” saying demographic studies point to a “long, uphill ride” to sustainable unit growth. ABM Industries – ABM struck a deal to buy privately held janitorial services rival GCA Services for $1.25 billion in […]
Read moreU.S. stock markets aren’t offering the best opportunity and investors should taking bets against them, a chief information officer at a London-based investment manager has told CNBC. Patrick Armstrong, the CIO at Plurimi Investment Managers, believes that very high valuations, an expected tightening in monetary policy and too much optimism over tax cuts and new […]
Read moreMeeting with our clients is one of the best parts of my job. Many of our clients have been with us for several years, and our meetings are like conversations with old friends. While we spend a good amount of time in our meetings reviewing portfolios and discussing financial issues that are affecting them, most […]
Read moreA new Federal Reserve under Gary Cohn would likely reverse the policies of Chair Janet Yellen, closely followed strategist Mark Grant told CNBC on Wednesday. The chief strategist at Hilltop Securities spoke as a new report said President Donald Trump could nominate his National Economic Council director to lead the Fed. Citing four sources, Politico […]
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