Goldman is using JPMorgan’s own tactics against it in ETF battle - The investment bank has filed for a line of broad-based index products with extremely low fees, and planting an early flag in Europe, as they continue to try to capture a larger share of the $4t ETF market. Read more
New York extends lead over Brexit-hit London in finance center poll - Sorry, FinTech Collective’s Gareth. In the Z/Yen Group survey for 2019, New York extended its lead over London to 17 points - and London's second place ranking in the index is at risk of falling to Hong Kong. Read more
Now money offers alternative for Gulf’s unbanked expats - The company aims to open up financial services for the low-income workers in the six-nation Gulf Cooperation Council: labourers, taxi drivers, cleaners and hotel staff who arrive largely from South Asia and Africa. Read more
Companies compete to be cryptocurrency custodians - What is the safest way to store digital currencies? The answer to that question could decide the biggest winners in a multibillion-dollar race to determine what companies will be the leading custodians of cryptocurrencies for money managers and other institutions. Read more
Traders could lose weekends in digital age, BitMex’s Hayes says - Hayes, who co-founded the exchange BitMex, noted that most markets currently open and close, remain shut on weekends, and some even have lunch breaks. Cryptocurrencies on the other hand trade 24 hours a day, seven days a week. Read more
UK ‘unicorn’ TransferWise taps business demand to lift profits - Transferwise, which was briefly crowned Europe’s most valuable privately owned fintech company last year, saw pre-tax profits climb 29% to £10.1m in the 12 months to March 31, according to its latest annual report published on Wednesday. Read more
Curve’s cloudy crowdfunding - The FT's Alphaville digs through London based Curve's recent crowdfunding deck that, despite being thin on information like customer churn, cash flow, margins or management’s preferred key performance indicators, helped them raise £4m in 42 minutes! Read more
Deutsche Bank stake lifts Deposit Solutions to €1bn valuation - Deutsche Bank is paying €50m for a 4.9 per cent stake in Deposit Solutions in a transaction that values the Hamburg-based start-up at more than €1bn. Read more
Alibaba and Tencent refuse to hand loans data to Beijing - China’s tech giants Tencent and Alibaba are apparently refusing to co-operate with a government-backed credit scoring program by withholding access to their troves of customer loans data. Read more
Mark Zuckerberg struggles to keep Libra alive - As Bloomberg points out, a cryptocurrency run by central banks might be better than one run by Facebook and friends. That still doesn't make it a good idea. Read more
What I wish Silicon Valley understood about Alibaba - A LinkedIn post by early Alibaba employee, Brian Wong on meeting Jack Ma in San Francisco in 1999 after 30+ VCs had declined to invest in Alibaba. Read more
Your parents’ financial advice is (kind of) wrong - The WSJ examines the personal-finance playbook followed by past generations and finds that it doesn’t add up for many people the way it used to. It’s time for some new money rules. Read more
Bitcoin grows in periods of low equity market volatility: report - We all know the benefits of some exposure to Bitcoin in a portfolio - minimum correlation with traditional assets like equities. A new report by Delphi Digital research indicates that the strongest correlation Bitcoin has is an inverse relationship with the VIX. Read more |
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