Search Results for: EC
Financial technology: Money finds new paths
August 12th, 2016
Africa may be slowest to embrace fintech, but the continent is ripe for disruption. WHAT IT MEANS: Australia’s progress a benchmark for Africa. Africa’s unbanked are an opportunity for tech firms. Disruption of the banking sector is well on ...
SEC announced fraud charges against Investment Adviser for stealing money from investors
August 12th, 2016
The Securities and Exchange Commission today announced fraud charges against a San Francisco man and his investment advisory firm accused of pretending to manage millions of dollars in assets and then stealing money from the first client who invested ...
TradeFx fired 80 workers in Israel; Playtech Cyprus Ltd looking to reduce the space planned to rent
August 11th, 2016
Sources inform “Globes” that following a wave of layoffs, Playtech Cyprus Ltd. (LSE:PTEC), managed by CEO Mor Weizer, notified Azrieli Group Ltd. (TASE: AZRG) last week that it was reducing the amount of space it had planned to rent in the new business tower ...
Online lender secures record-breaking $52.5 million FinTech funding
August 11th, 2016
Finova Financial’s industry-first, cloud and mobile-based consumer auto title lending platform has raised $52.5 million in a combination of equity and a credit facility, one of the largest initial rounds in FinTech industry history, Finova announced today. The funding round ...
SEC Charges Former Professional Football Player With Running $10 Million Fraud
August 11th, 2016
The Securities and Exchange Commission today charged Merrill Robertson Jr., a former player for the Philadelphia Eagles, with defrauding investors, including coaches he knew from his time playing football for the Fork Union Military Academy and the University of ...
Oil prices fall on U.S. crude inventory build, record Saudi output
August 11th, 2016
Oil prices fell early on Thursday as a build in U.S. crude inventories and record Saudi Arabian production weighed on markets. U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading at $41.34 per barrel at 8.32 p.m. ET, ...
‘Euro was flawed at birth and destined to collapse’ – Nobel economist
August 10th, 2016
The decision to create a single currency without the institutions which would make it work was “fatal” for the eurozone, said Nobel-Prize winning economist Joseph Stiglitz, adding that the “eurozone must ditch it now to survive.” In his book ...
Banks and tech firms apply blockchain to trade finance
August 10th, 2016
An HSBC (HSBA.L) (0005.HK) and Bank of America Merrill Lynch (BAC.N) venture and financial technology firm R3 said separately on Wednesday that they had created ways of using blockchain technology to simplify trade finance processes. The two banks said ...
CySec imposed administrative fine on a Cyprus Investment Firm
August 10th, 2016
The Board of the Cyprus Securities and Exchange Commission (CySec) has issued an announcement to inform the public that, at the meeting held on 25 July 2016, it decided to impose a total administrative fine of €2.000 to the Cyprus Investment ...
CySec: Administrative Services Provider waived its authorization
August 10th, 2016
The Cyprus Securities and Exchange Commission (CySec) announces that, on 15th of March 2016, the Company Providing Administrative Services Navicorp Trust (Cyprus) Limited (the ‘Company’), waived its authorization pursuant to section 16(1) of the Law Regulating Companies Providing Administrative Services and Related ...
