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SCOR: INTERIM FINANCIAL REPORT FOR THE SIX MONTHS ENDED JUNE 30, 2020
SCOR: INTERIM FINANCIAL REPORT FOR THE SIX MONTHS ENDED JUNE 30, 2020
Stable Road is still 6% short of the 65% needed to approve an extension amendment Extension amendment must be approved by May 13 to prevent SPAC from being dissolved Investors show very strong support for deal with stock trading at $11 vs. $10.03 cash in trust If SPAC is dissolved shareholders will receive $10.03 in […]
(Bloomberg) -- Gold rose for a third straight day, posting its biggest weekly increase since November after a report showed a surprise slowdown in U.S. job growth, supporting the case for continued economic stimulus and low interest rates.Non-farm payroll numbers show the U.S. added 266,000 jobs in April, compared with the 1 million median estimate of analysts. Treasury yields sank on the news as risk appetite faded and the dollar weakened, boosting demand for gold as an alternative asset.Gold has rebounded after a poor start to the year, when it came under pressure from gains in the dollar and bond yields. Both drivers have paused for now, while inflation expectations drive higher amid a commodities boom, lifting the metal’s appeal as a hedge. The jobs numbers reinforce views that monetary tightening remains distant, further helping non-interest-bearing bullion.The jobs data “is lagging, but suggest that, using last month’s data there was no urgency to change policy, which is price supportive for gold,” said Giovanni Staunovo, an analyst at UBS Group AG.Bullion surged on Thursday after several Federal Reserve officials played down concerns over inflation and pushed back on the idea of tapering bond purchases.Spot gold rose as much as 1.6% to $1,843.43 an ounce, the highest since mid February. Prices gained 3.5% this week, the most since early November. Futures for June delivery on the Comex rose 0.9% to settle at $1,831.30 an ounce. Spot silver and platinum also advanced. Palladium dropped as much as 4.1% as traders booked profit after a price rally that sent the emission-curbing metal to fresh record highs.The Bloomberg Dollar Spot Index retreated 0.7% after falling 0.5% on Thursday.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Fintech companies in Africa raised more capital despite the Covid-19 pandemic, standing in contrast to their emerging-market peers such as Latin America that saw a decline.The continent saw fintech funding, including mergers and acquisitions, grow to $1.35 billion last year from $1 billion in 2019, according to a report by BFA Global’s Catalyst Fund and Briter Bridges published on Thursday. While Indian and Latin American fintech companies still raised more money than those in Africa, their volumes fell from the previous year as they battled to close later-stage deals.“The numbers of pre-seed and seed deals in Africa are increasing,” the report said. “While Latin America and India are seeing a growing number of mega-deals African markets are only beginning to see a few such late-stage deals.”Africa’s growing population of 1.2 billion people, rising smartphone ownership and a drop in Internet costs are among the factors contributing to the region’s allure. Investors also see opportunity among its large unbanked population of 350 million, which accounts for 17% of the global total.Most investments on the continent flowed to Nigeria, Kenya and South Africa, according to the report, which surveyed 177 startups and 33 impact investors across emerging markets.The region’s fintechs haven’t yet raised funding through an initial public offering but they have enjoyed fast growing merger-and-acquisition activity, with international companies including Visa Inc., Network International Holdings Plc and Stripe Inc. growing their interests in the region.Nigeria has especially benefited from the financial-technology boom that has put much of Africa at the cutting edge of the revolution in mobile money. In 2020, Stripe paid $200 million to acquire Nigerian startup Paystack.Flutterwave, based in Lagos and San Francisco, raised $170 million this year, becoming Nigeria’s second fintech startup with a valuation above $1 billion, after Interswitch.Read more: Pandemic Was a ‘Boon’ for African Wealth Funds Investing LocallyThough total funding for emerging-market fintech companies increased last year, it still accounts for a small portion of global investment. Of the $105 billion received by fintech firms in 2020, $76 billion flowed to the US.In Latin America, Brazil, Mexico, Uruguay and Colombia made up 99% of regional fintech investment, while India, Singapore and Indonesia were the most popular destination for funds in South Asia and Southeast Asia. India netted $3 billion for fintechs alone.“After the initial shock of the pandemic wore off, many investors continued to close deals, albeit remotely,” the report said. Investors preferred to pour cash into payments over other product categories, it said.(Updates with chart after third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Deutsche Bank AG’s asset management arm DWS Group is in exclusive talks to sell control of its IKS fund platform to French private equity firm BlackFin Capital Partners, people familiar with the matter said.BlackFin is holding final negotiations on terms of a potential deal for the IKS business, the people said, asking not to be identified because the information is private. The buyout firm is discussing a deal to pay in the region of 300 million euros ($362 million) for a majority stake in IKS, though terms of a transaction haven’t been finalized, one of the people said.DWS, which is one of Europe’s largest asset managers, could announce an agreement as soon as the next few weeks, according to the people. Shares of DWS rose as much as 3%, the biggest intraday gain in more than two months. They were up 1.8% at 12:52 p.m. Friday in Frankfurt, giving the company a market value of about 7.4 billion euros.The niche world of financial infrastructure has recently become a hotbed of dealmaking, as banks and asset managers seek to free up cash by divesting peripheral businesses. UBS Group AG agreed this week to sell its remaining holding in its fund platform to Deutsche Boerse AG, after offloading a majority stake last year.Deal HuntCredit Suisse Group AG sold its third-party funds platform InvestLab in 2019 to Allfunds Group Plc, which recently completed an initial public offering and is now valued at about 8.4 billion euros.Platforms like IKS typically offer investors access to a range of investment products, including exchange-traded funds, in one place. They also provide fund accounting and administration services for the asset managers.DWS has been considering a sale of part or all of the business since last year, Bloomberg News has reported. The potential deal comes as DWS hunts for major acquisitions as part of its goal to become one of the world’s top 10 asset managers.Asset-Light ModelIKS serves more than 2 million retail clients with about 115 billion euros ($139 billion) under administration. DWS plans to keep a stake in IKS after the transaction, the people said.No final agreements have been reached, and talks could drag on longer or fall apart, the people said. A representative for DWS declined to comment. A spokesperson for BlackFin didn’t immediately respond to a request for comment.BlackFin has four funds, including its latest buyout fund that raised 985 million euros in 2019, according to its website. It targets financial services investments in continental Europe, with a focus on asset-light businesses that aren’t heavily regulated.The firm is led by four founding partners including Laurent Bouyoux, a veteran of the European banking sector who helped build out the derivatives businesses of Societe Generale SA and Commerzbank AG.(Updates with DWS share movement in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Bill Gates transferred stakes in several companies to Melinda Gates on the day the power couple announced their divorce
You could be entitled to additional money, based on your 2020 income tax return.
Tech investor Cathie Wood tells CNBC she isn't unsettled by the popular ARK Innovation ETF's rough start to May.
Elon Musk, CEO of Tesla and SpaceX, likes cryptocurrency, such as bitcoin and dogecoin. But he's urging investors to proceed "with caution."
The crypto run this time has two features the 2017 version didn’t—institutional adoption and actual applications.
Ethereum has outperformed major digital currency rivals this year, bolstered by the surge in decentralized finance (DeFi) and the anticipation of a technical adjustment this summer, but it faces hurdles that could stall its rise. With a jump of more than 350% in its price this year, ethereum has the second-largest market capitalization after bitcoin, but not as much cache and perhaps more operational challenges that could prevent it from eclipsing its major rival. In the crypto world, the terms "ethereum" and "ether" have become synonymous.
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(Bloomberg) -- Coinbase Global Inc. sank to a record low as investors fled high-flying market newcomers.The operator of the largest U.S. cryptocurrency exchange slumped 6% to $256.76 on Thursday, dropping for a fourth straight day. That left the shares just above the $250 reference price for its April direct listing. An exchange-traded fund that tracks shares of companies that recently went public plunged for an eighth day, the longest slide since 2015. Virgin Galactic Holdings Inc. and Opendoor Technologies Inc., companies that came to market through blank-check offerings, each sank at least 3.8%.“We saw a mini-bubble in SPACs, IPOs, crypto, clean-tech and hyper-growth in late 2020 and early 2021 and many of these asset classes are nursing bad hangovers,” said Mike Bailey, director of research at FBB Capital Partners.Coinbase’s slide comes as investors pour into extremely speculative cryptocurrencies such as Dogecoin and Binance Coin -- tokens that the exchange doesn’t offer. Most of its traffic had come from Bitcoin trades, but the price of the largest crypto coin has been mired in a narrow band for weeks. Coinbase started trading at $381 on April 14 before briefly topping $400. It’s now down 22% from the close on its first day.Nasdaq had set a reference price of $250 a share on April 13 for Coinbase’s direct listing, a number that’s a requirement for the stock to begin trading, but not a direct indicator of the company’s potential market capitalization.“What has really hurt Coinbase, now that their direct listing has taken off, you’re seeing expectations that other exchanges are coming on board,” said Edward Moya, senior market analyst at Oanda. “There’s this belief this could be as good as it gets for Coinbase in the short-term.”The Renaissance IPO ETF dropped 4.2% on Thursday, bringing its year-to-date loss to about 14%.(Updates prices.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
A mass of attention has been brought to semiconductor companies as supply-chain constraints have reduced the availability of everything from cars to laptops to gaming consoles. The largest chipmakers and foundries — Intel (INTC) Nvidia (NVDA) Advanced Micro Devices (AMD) Taiwan Semiconductor Manufacturing (TSM) Globalfoundries and Qualcomm (QCOM) — have gotten most of the headlines. As the challenges are sorted out, it has become clear that semiconductors are a hot commodity, and for investors, that could be considered an opportunity.
You will be completely oblivious on the day the bull market hits its exact top. “For the next few weeks at least, the sun seems destined to shine on the stock market… [T]he credit crisis seems to be reaching a conclusion… [A]ll these factors have lessened the downside risk in stock prices, for now.”
Vlad Tenev, CEO of Robinhood Markets, speaking at a “fireside chat” on Thursday, attempts to dispel any lingering speculation that the brokerage may be a so-called dogecoin whale, maintaining a massive stockpile of the crypto for its own benefit.
‘I have a $3,000-a-month pension. I am living with my ill father, and I am currently not working and looking for a job. I am going to college using the GI Bill. I am almost 50, and have no 401(k).’
According to the official statistics, a whopping 67% of eToro traders fail to make money trading on the platform. Likewise, on the whole, less than 10% of users successfully make a living from cryptocurrency trading — contrary to popular opinion. While this is largely down to the unpredictable volatility of cryptocurrencies — which can result in dramatic price swings most traders fail to capitalize on. This has led to the development of a new type of low-risk cryptocurrency that now look to leverage price-stable assets to generate a healthy return. Earning Liquidity Rewards Although decentralized exchanges are nothing new in the cryptocurrency space, it wasn’t until only relatively recently that we had decentralized exchanges that could compete on a more or less even footing with centralized incumbents. With the advent of automated market makers (AMMs) like Uniswap and PancakeSwap, traders were given the opportunity to trade whichever assets they want without having to fork over custody of their assets to a centralized intermediary. But more than this, these AMMs also provided users a way to turn a relatively safe passive income in the form of liquidity provider (LP) rewards for the first time. These LP rewards are derived from the trading fee derived from any exchanges conducted in pools these traders provide liquidity to. In total, it is a relatively simple task to earn 5-15% APY by providing liquidity to pure stablecoin liquidity pools, such as Uniswap’s USDT/USDC pool or PancakeSwap’s BUSD/USDT pool. But it doesn’t stop there as novel platforms are increasingly looking for ways to further incentivize liquidity providers using yield farm opportunities. BondAppétit is a prime example — as a platform that offers a real-world asset-backed stablecoin, known as USDap — in addition to a governance token, known as BAG. BondAppétit allows USDap/USDC Uniswap liquidity providers to stake their LP tokens to earn an impressive additional yield in the form of BAG tokens. As of writing, this currently sits at 91.7% APY (but does fluctuate). Though BondAppétit is far from the only platform with a yield farm, it’s rare in that it provides yields for pure stablecoin liquidity providers — making it attractive to investors worried about impermanent losses. Participating in a Savings Account Just as depositing fiat into a regular savings account is a popular method to earn interest (albeit typically extremely low APY), cryptocurrency savings accounts have become massively popular in the last few years. However, as with most things in the cryptocurrency industry, the expected yield provided by some of these platforms generally eclipses anything offered by regular banks — with 5-10% APY relatively commonplace. The expected APY can vary considerably by platform, but in general, these platforms tend to pay a higher APY on stablecoins like Tether (USDT) and USD Coin (USDC) than on volatile assets like Bitcoin (BTC) and Ethereum (ETH). Likewise, there are often ways to increase the yield further, such as by holding a specific token, taking payout using a specific method, or committing to a longer-term savings plan. For example, Nexo generally provides a flat 8% APY on all cryptocurrencies supported by the platform, but allows users to boost this yield to up to 12% APY by both holding NEXO tokens and taking paying in NEXO (rather than the underlying asset saved). BlockFi, on the other hand, uses a tier system, which means users might earn a different interest rate depending on the size of their deposit for some assets — e.g. it pays a flat 8.6% APY on USDC deposits, but between 0.5% and 5% APY for BTC deposits. Many of these platforms also provide insurance over user deposits, providing an additional safety net for stablecoin users. Using Yield Bearing Stablecoins Right now, the stablecoin market is dominated by a handful of USD-pegged stablecoin behemoths, like USDT and USDC — which together have a combined market capitalization of almost $70 billion. But while these assets are extraordinarily popular, they do very little for the holder besides allowing them to avoid volatility. However, with the cryptocurrency moving forward at a breakneck pace, we are now beginning to see the emergence of stablecoins that go one step further — by providing holders with a low-risk yield BXTB’s CHIP stablecoin is one such solution. Unlike most stablecoins, which are backed by fiat, CHIP is instead backed by other stablecoins (like USDT). Users need to combine their stablecoin with a second token known as BXTB to produce CHIP stablecoins plus a yield-bearing form of BXTB called yBXTB. Users can then spend or use their CHIP like a regular stablecoin while earn additional CHIP rewards by holding the yBXTB they got as part of the process. https://twitter.com/kava_labs/status/1384877080068907011 Likewise, Kava’s USDX offering and Origin Protocol’s OUSD stablecoin also provide yield earning opportunities for holders — albeit using different mechanisms. Nonetheless, given that CHIP (+yBXTB), USDX, and OUSD all provide a return at the protocol level they can be considered relatively safe as far as investments go. Image Sourced from Pixabay See more from BenzingaClick here for options trades from Benzinga.25 Million Raised For Moma Protocol's Infinite Liquidity And Permissionless LendingDefi Platform Formation Fi Attracts .3M Investment for Smart Farming 2.0© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
It pays to be in the stuffed crust pizza game if you are Papa John's.
Vietnam’s government is pouring cash into the country, which should enable the nation to achieve its 6.5% to 7% annual growth targets.
The company crushed sales expectations, raised its full-year outlook and pointed to more interest in its online casino games and mobile sports betting.