Elementus, a startup focused on spotting illicit transactions made with cryptocurrency, today announced raising $3.5 million, partly from a fund linked to Fidelity Investments. The round was led by Morgan Creek Digital, a venture fund focused on blockchain technology, including cryptocurrency and related Also joining the round was Avon Ventures, a venture capital subsidiary of Devonshire Investors, the private equity arm of Fidelity Investments’ parent company. Fidelity has become one of the first mainstream Wall…"Fidelity Affiliate Joins $3.5 Million Investment in Bitcoin Sleuthing Firm Elementus"
The London Stock Exchange Group’s rejection of the surprise $36.6 billion takeover proposal from Hong Kong Exchange and Clearing Limited (HKEx) was brutal in its clarity. But the dramatic snub of the Hong Kong exchange’s Sept. 9 offer is only the first round of what may be a long and contentious fight, with analysts saying HKEx is sure to offer a sweetened bid and, if the LSEG rejects that, possibly make a run at a…"The London Stock Exchange Snubbed Hong Kong’s First Buyout Bid, but the Fight Isn’t Over"
One of the most vital pieces of plumbing that powers the global financial system usually runs so smooth that it gets overlooked by market watchers. It’s the “repo market,” comprising the short-term funding that banks and financial counter-parties regularly tap to lend each other trillions. It’s suddenly in the news again, and for all the wrong reasons. The repo market is looking a lot like it did on the precipice of the 2007 housing market…"Why the Repo Market is such a Big Deal—and Why Its $400 Billion Bailout is so Unnerving"
Investors normally trade stocks, bonds or real estate, but entrepreneur Michael Hyatt is investing in science projects in hopes of backing an experiment that changes history. The chair of the Hyatt Family Foundation is teaming up with Sick Children’s Hospital in Toronto to create a fusion between investing and charity — they call it venture philanthropy. “It hasn’t been done in our country. I thought, ‘why can’t I use my instincts and understanding and funding…"‘Venture philanthropy:’ The new investing hope to fund scientific breakthroughs"
On the fourth of July, Netflix released the much-hyped third season of its wildly successful series Stranger Things. Since it debuted in 2016, the show—a science fiction story set in small-town Indiana in the early 1980s, featuring a psychokinetic tween girl, top-secret government experiments, and a portal to another dimension—has become a cultural phenomenon. To promote season three, the global streaming giant partnered with everyone from Burger King (which debuted an “Upside Down” Whopper) to…"Meet the Women Leading Netflix Into the Streaming Wars"
REUTERS By Victor V. Saulon, Sub-Editor CONSUMER group Laban Konsyumer Inc. (LKI) is asking the Department of Energy (DoE) to monitor oil companies’ inventory to ensure they charge fair prices on fuel products acquired before the attacks on the Saudi oil refineries. “The DoE should intervene so existing inventory (is) priced at levels pre-Saudi oil incident,” LKI President Victorio Mario A. Dimagiba said in a statement during the weekend. Mr. Dimagiba, a former undersecretary of…"Oil firms urged to charge fair markup on fuel acquired before Saudi attacks"
PHILSTAR THE National Committee on Intellectual Property Rights (NCIPR) seized approximately P13.73 billion of counterfeit products valued at P13.73 billion in the seven months to July. In a statement Saturday, the Intellectual Property Office of the Philippines (IPOPHL) said that seizures during the period were equivalent to nearly 60% of the 2018 total. Partially validated data accounting for a fifth of the total inventory found that top seizures included counterfeit branded cigarette and alcohol products;…"Seizures of counterfeit goods valued at P13.7 billion in first seven months"
BW FILE PHOTO THE government’s debt service bill nearly doubled in July because of increased amortization payments, the Bureau of the Treasury (BTr) said. The national government’s total debt payments rose 95.84% year-on-year in July to P92.46 billion, and was higher compared to P83.81 billion paid out in June. Interest payments in July amounted to P50.97 billion, up 13.66% from a year earlier. Some 60% or P30.64 billion went to domestic creditors while payments made…"Debt service bill nearly doubles in July"
SMART Communications, Inc. continues to enjoy the top spot for mobile network experience in the Philippines according to the latest report of Opensignal, but its fourth-generation (4G) download speed has seen a decline in recent months. The United Kingdom-based wireless coverage mapping firm said in its Mobile Network Experience report, which covered data from May 1 to July 29, that Smart is still the leading telecommunications firm in the country in terms of video experience,…"Smart maintains lead in speed, other metrics"
PHILSTAR THE Legislative-Executive Coordinating Council (LECC) has identified the measures the legislature is prioritizing which are in line with the President’s legislative agenda, the House majority leader said Sunday. Representative Ferdinand Martin G. Romualdez of Leyte’s first district said Congressional leaders and Cabinet officials agreed on the immediate approval of the fifth tranche of the Salary Standardization Law for government workers; the creation of the Department of Overseas Filipino Workers; the postponement of the May…"Salary standardization, OFW dep’t top common agenda items for legislative, executive branches"