Markets

Jack Ma’s Ant Group is targeting a record $34 billion IPO. Warren Buffett’s Berkshire Hathaway stands to gain from its public debut

Alibaba cofounder Jack Ma’s Ant Group is gearing up for a record $US34 billion IPO. Ant owns stakes in two financial-technology companies that also count Warren Buffett’s Berkshire Hathaway as an investor. Berkshire and Ant both invested in Brazilian e-commerce group StoneCo when it went public in October 2018. Buffett’s […]
Jack Ma’s Ant Group is targeting a record $34 billion IPO. Warren Buffett’s Berkshire Hathaway stands to gain from its public debut
Markets

How much incoming investment bankers get paid at the 10 bulge-bracket banks

Welcome to the weekend! The competition for young talent is fierce and it’s no secret that investment bankers are among America’s highest-paid earners out of college. This week Business Insider got the details behind the base salaries and annual bonuses top investment banks and boutiques pay. Reed Alexander combed through […]
How much incoming investment bankers get paid at the 10 bulge-bracket banks
Markets

How to pitch top hedge funds on the next hot alt-data set

Happy Saturday! Hedge funds that love to use Robinhood data to hunt for winning ideas won’t be able to tap its enormous pool of trades in quite the same way anymore. As CNBC first reported, Robinhood is no longer publishing how many customers held a particular stock, and the retail-trading […]
How to pitch top hedge funds on the next hot alt-data set
Markets

An audit of Wirecard’s key business in Europe and the US reportedly shows its internal financial numbers are far worse than previously thought

Wirecard’s primary business operations in Europe and the US have been unprofitable for years, according to a Financial Times investigation, bringing into question official financial reports which showed significant profits. An internal audit conducted by KPMG shows that Wirecard’s outsourced activities in Asia made up for the “lion’s share” of […]
An audit of Wirecard’s key business in Europe and the US reportedly shows its internal financial numbers are far worse than previously thought
Markets

Here’s how Wirecard went from analyst darling to a $2.2 billion accounting scandal — and cost SoftBank hundreds of millions in the process

Wirecard, one of Europe’s leading financial technology companies, is at the heart of one the region’s biggest corporate accounting scandals in recent years. The company’s shares have plunged over 80% ever since it admitted auditors could not trace €1.9 billion in its financial accounts. Last week the firm’s chief executive […]
Here’s how Wirecard went from analyst darling to a $2.2 billion accounting scandal — and cost SoftBank hundreds of millions in the process
Markets

‘Interesting tightrope to be on’: PayPal’s credit chief balances coronavirus threat against healthy consumer demand

PayPal is balancing robust consumer confidence against the mounting coronavirus threat. “You have the strongest consumer we’ve ever known,” PayPal’s global credit chief, Darrell Esch, said at a conference this week. “Then on the other hand, you’ve got this pandemic risk.” Wage growth and low unemployment have fuelled consumer demand, […]
‘Interesting tightrope to be on’: PayPal’s credit chief balances coronavirus threat against healthy consumer demand
Markets

Bitcoin is surging and just crossed the $10,000 mark

Bitcoin surged past $US10,000 on Friday evening. The milestone marks bitcoin’s recovery to more than half of its all-time high. The promise of interest-rate cuts, rising US-Iran tensions, the US-China trade war, and wider interest in cryptocurrencies could be driving the surge. Watch bitcoin trade live. Bitcoin surged more than […]
Bitcoin is surging and just crossed the $10,000 mark
Markets

JPMorgan drops $500 million on healthcare payments firm InstaMed in its largest acquisition since the financial crisis

JPMorgan on Friday agreed a deal to acquire InstaMed for $US500 million. The deal for the healthcare payments tech company expands JPMorgan’s already vast corporate payments operation. Visit Business Insider’s homepage for more stories. JPMorgan Chase has acquired the healthcare payments company InstaMed for $US500 million, the bank’s largest acquisition […]
JPMorgan drops $500 million on healthcare payments firm InstaMed in its largest acquisition since the financial crisis
Markets

The ‘Amazon of Japan’ is up 10% ahead of Pinterest’s IPO

Rakuten’s shares jumped 10% on Wednesday as investors looked forward to Pinterest’s public debut, cheered registrations for its new cryptocurrency exchange, and celebrated an analyst upgrade. The “Amazon of Japan” invested in Pinterest in 2012, but its shareholding seems to have fallen below 5%. Rakuten plans to launch a cryptocurrency […]
The ‘Amazon of Japan’ is up 10% ahead of Pinterest’s IPO
News

Tell us what you think!

The future of banking is coming to a smartphone near you. Saving, budgeting, and paying are getting easier than ever before, thanks to new features like scanning your face with a smartphone camera to log in or using your voice to navigate your banking app. To learn which new features […]
Tell us what you think!
News

Stores and credit-card companies are in an all-out war over fees

Retailers are hoping to quash the “honour all cards” rule that requires retailers to accept all of a network’s credit cards if they accept any as a form of payment, the Wall Street Journal reported. The rule is included in contracts between Visa and Mastercard and the retailers that accept […]
Stores and credit-card companies are in an all-out war over fees
Markets

Square sinks after Paypal acquires iZettle to better compete in payments

Square shares are lower after Paypal announced it will acquire iZettle, a European fintech startup. iZettle will allow Paypal to compete better in the point-of-sale business where Square previously had a large advantage. Watch Square trade in real-time here. Square shares are down more than 4% in Friday after Paypal […]
Square sinks after Paypal acquires iZettle to better compete in payments
Tech

The biggest porn site in the world is now accepting a ‘privacy-focused’ cryptocurrency called Verge

Pornhub has begun accepting cryptocurrency payments for its subscription-based service. The cryptocurrency is called Verge, a “privacy-focused” digital currency that emphasises anonymity. Two of Pornhub’s affiliate sites, Brazzers and Nutaku, will also accept payments in Verge. Pornhub is now accepting payments for its premium content in a cryptocurrency called Verge, […]
The biggest porn site in the world is now accepting a ‘privacy-focused’ cryptocurrency called Verge
Markets

Square is like ‘Amazon or Google in their early days’

Square is set to take off, according to Nomura analyst Dan Dolev. The company is rapidly expanding into new businesses and is growing its payments volume. Watch the price move in real time here. When Wall Street compares one of Jack Dorsey’s two public companies to Amazon and Google, you’d […]
Square is like ‘Amazon or Google in their early days’
Tech

Craigslist just made it easier for you to sell your sofa for bitcoin

Craigslist just added a new button where sellers can indicate that they will take cryptocurrencies as payment. The notoriously minimalist site won’t process the payments. Buyers and sellers still have to exchange payment for goods at the point of sale. Cryptocurrencies are widely believed to be a good way to […]
Craigslist just made it easier for you to sell your sofa for bitcoin
News

TSB apologises as payments glitch hits on payday

Payments to and from TSB bank experiencing issues on Thursday morning. Some customers complain they have been left without their salary on payday. Bank apologises to customers, saying it’s “working as hard and as fast as we can to resolve any issues.” LONDON – TSB is investigating problems with standing […]
TSB apologises as payments glitch hits on payday
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