April 28, 2022

https://ift.tt/fbe84Rg Estonian financial services outfit LHV Group has invested €1 million in Tuum, its core banking platform provider. The strategic investment means that LHV is now a partner, customer and investor in local outfit Tuum, which offers an API-first, cloud-agnostic and modular banking platform that covers all retail and business banking processes. Last October, Tuum […]

https://ift.tt/r20BQJt Commerzbank is rebranding its innovation unit and early-stage investor as part of a sharper focus on sustainability and green tech firms. The German lender says that customer demand in the B2B and B2C sectors is no longer just growing for digital technology, but above all for sustainable offerings. To reflect this, the bank’s main

https://ift.tt/lv3UxzH Banco Santander and Oxentia Foundation are inviting startups and scaleups from 11 countries to compete in a blockchain challenge and the chance to win cash prizes. Firms are being invited to enter ideas addressing issues such as improving user privacy and security in blockchain networks, boosting DeFi and tokenisation, and enhancing and expanding digital

https://ift.tt/DBZ3ptC Colombia-based fintech Minka, a provider of last-mile APIs and shared ledgers for national payment networks, has secured $24 million in capital through a funding round led by Tiger Global and Kaszek. Minka’s technology connects separate legacy systems through blockchain concepts and modern APIs to simplify the movement of money flows. In Columbia Minka has

https://ift.tt/Ij3YpdN With a 25 percent compound annual growth rate (CAGR), US-based Toptal estimates that the global fintech business will be valued at US$310 billion by year’s end. In addition to providing a freelancing platform, Toptal connects organizations with freelancers in a variety of fields, including developers, product managers, and financial specialists.  The term “Fintech” refers

https://ift.tt/gwNE5xi John B. Sanfilippo & Son (JBSS) reported fiscal 2022 Q3 results last night. Net sales for the period rose 5.1% year-over-year to $218.6 million and exceeded the consensus estimate by $3.1 million as an 8.1% increase in the weighted average sales price per pound resulting from the company’s […] Financial Services

https://ift.tt/CrvmPbO Topline Shares of stock trading app Robinhood tanked roughly 8% late on Thursday after the company reported dismal first quarter earnings which showed that the platform lost over a million users and revenue plummeted 43% from what it was a year ago. Robinhood cofounder and CEO Vlad Tenev. Spencer Platt/Getty Images Key Facts Shares

https://ift.tt/SArpN4g NEW YORK, NY – MAY 6: Traders and financial professionals work at the opening bell on the floor of … [+] the New York Stock Exchange (NYSE), May 6, 2019 in New York City. The Dow Jones Industrial Average dropped over 360 points at the open on Monday morning after U.S. President Donald Trump

https://ift.tt/A4f1HKI Topline The stock market rebounded sharply on Thursday, paring back some of its losses this week as investors cheered a host of strong first quarter earnings reports from the likes of Facebook-parent Meta, Qualcomm, McDonald’s and PayPal. Markets attempted to come back from steep losses this week. Richard Drew/ASSOCIATED PRESS Key Facts The Dow

https://ift.tt/wNoA963 From the National Multifamily Housing Council (NMHC): Apartment Demand Continues to Grow, but Investors Face Tougher Financing Conditions Apartment markets tightened further according to the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions for April 2022, while financing became more costly. The Market Tightness (60) index was the only index to come

https://ift.tt/I0ZxHB8 From the Las Vegas Visitor Authority: March 2022 Las Vegas Visitor Statistics The positive visitation trajectory continued in March as Las Vegas hosted more than 3.3M visitors, nearly 50% ahead of last March and roughly 10% shy of March 2019. With meetings returning across the destination along with tradeshows such as ASD Las Vegas,

https://ift.tt/c7gS2AZ Square is bringing its lending programme for small businesses clients to Canada. Square Loans uses transaction data to proactively provide customised offers to eligible sellers, with no paperwork is needed, and funds delivered as soon as the next business day. Businesses have one upfront loan fee, which is automatically paid back as a set

https://ift.tt/S1itB2a Topline New York City-based Ark Invest’s flagship fund posted staggering losses Thursday as top holdings like Tesla, cryptocurrency exchange Coinbase and virtual healthcare firm Teladoc slumped amid a selloff that has now nearly wiped out all of the high-profile fund’s meteoric gains during the pandemic. After skyrocketing 150% in 2020, Ark’s flagship fund has

https://ift.tt/9Xlt76r China Last Night KraneShares Key News Asian equities had a strong night as all markets gained, led by Japan as the Yen hit a low versus the US dollar not seen since 2002. Hong Kong had a strong day led by internet stocks. Catalysts include Premier Li’s State Council meeting on boosting employment and

https://ift.tt/JrAMK3g Earlier from the BEA: Gross Domestic Product, Fourth Quarter and Year 2021 (Advance Estimate) Real gross domestic product (GDP) decreased at an annual rate of 1.4 percent in the first quarter of 2022, according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 6.9 percent….

https://ift.tt/kZJ24ad Mastercard is linking all employee bonuses to the company’s environmental, social and corporate-governance (ESG) performance. Last year, the card giant introduced a model for senior executives that saw their bonuses determined in part by the company’s performance on three ESG priorities: carbon neutrality, financial inclusion and gender pay parity. The goals were either met

https://ift.tt/JxRowhv This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox. Elon Musk has been tweeting this week in reference to the Twitter deal—which is, in fact, allowed under the merger agreement Twitter filed with the SEC earlier

https://ift.tt/O4ET7uv Topline Despite missing first quarter revenue estimates, shares of Facebook parent company Meta surged roughly 13% on Thursday after reporting solid user growth, which bounced back from a small decline in the previous quarter. Even amid weaker guidance, Meta shares surged as user growth bounced back. Justin Sullivan/Getty Images Key Facts Meta was up

https://ift.tt/SRPvitM Source: Varo Bank Varo Bank, N.A., the first all-digital, nationally chartered bank in the U.S., today announced the appointment of Spencer Rascoff, Co-Founder and former CEO of Zillow to Varo’s Board of Directors. Rascoff joins Varo’s Board to continue to scale Varo, a one of a kind bank, built from the ground up, designed

https://ift.tt/O1WchSQ There’s a long-standing belief among Fintech founders that you need VC (Venture Capitalist) investment when starting out to make the biggest splash. But this just isn’t the case.   I know this from first-hand experience. “It’ll never take off,” is what I was told bluntly by one VC as he tucked into lobster linguine in

https://ift.tt/4MjXACh Sale to US private equity group is part of Hitachi’s drive to focus on digital services Financial Services

https://ift.tt/HMPG2Wq The countdown! getty For decades, plain vanilla financial advisors have pitched a “4% withdrawal rate” as a retirement solution. Most were lazily stealing this advice from the smart, thrifty fellow who created the rule. The 4% idea is that someone with, say, a million-dollar nest egg could safely withdraw $40,000 per year and probably

https://ift.tt/DO6gvX8 Topline The economy last quarter posted its worst annualized showing since the pandemic-induced recession in 2020, the government said Thursday, blaming an unexpected decline in economic activity on the omicron variant of Covid-19 and decreased government assistance. The government blamed the unexpected decline on the omicron variant of Covid-19 and decreased … [+] government

https://ift.tt/pyroLav Source: Klarna Klarna, a leading global retail bank, payments, and shopping service, announced today its expanded partnership with leading cross-border e-commerce provider Global-e (Nasdaq: GLBE). Through this partnership, merchants selling to Canada via Global-e’s cross-border e-commerce platform, including notable brands such as Reformation, SKIMS, Fenty Beauty, Rimowa, Versace, Marc Jacobs, and Marks & Spencer,

https://ift.tt/NOmeL9A Source: Wagestream Sodexo Engage, the leading employee engagement expert is partnering with Wagestream, adding the charity-backed financial wellbeing app to its employee benefits platform. Through the partnership, Sodexo Engage clients will be able to offer their people access to Wagestrean via its new financial wellbeing hub. Over one million people can already access the

https://ift.tt/HmljMq5 Source: CoreChain CoreChain Technologies, the first digital B2B payments network built on blockchain, today announced that it has secured $4.2 million in Seed financing. The round was led by Ulu Ventures with participation from other existing investors including Connecticut Innovations, Bloccelerate VC and New Form Capital, as well as new investors, Motivate Venture Capital,

https://ift.tt/GQRj5Vo Source: BPC Leading global payments firm BPC today announced its expansion into the Americas to support the payments and processing needs of traditional financial institutions, payments processors and fintech firms. The company is launching its full suite of SaaS cloud services on Oracle Cloud Infrastructure (OCI) from Ashburn, Virginia, creating a center of excellence

https://ift.tt/aoMRAGP BNP Paribas is to consolidate three offices into one new HQ in Dublin, as the move to post-pandemic hybrid working upends previous assumptions about real estate requirements. The move will see all of BNP Paribas’ 400 Corporate and Institutional Banking staff rehoused in one building, on one floor having previously been located in three

https://ift.tt/ls0XEYo Source: CMA Letter to HSBC UK about 11 breaches of Part 2, 8 and 10 of the Retail Banking Market Investigation Order 2017. The provisions of Part 2, 8 and 10 of the Order include a requirement for the largest Great Britain (GB) and Northern Ireland (NI) banks to ensure accurate, comprehensive and up

https://ift.tt/ls0XEYo Source: CMA Letter to HSBC UK about 11 breaches of Part 2, 8 and 10 of the Retail Banking Market Investigation Order 2017. The provisions of Part 2, 8 and 10 of the Order include a requirement for the largest Great Britain (GB) and Northern Ireland (NI) banks to ensure accurate, comprehensive and up

https://ift.tt/jlipXFJ The DOL reported: In the week ending April 23, the advance figure for seasonally adjusted initial claims was 180,000, a decrease of 5,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 184,000 to 185,000. The 4-week moving average was 179,750, an increase of 2,250 from the

https://ift.tt/bYpe96s From the BEA: Gross Domestic Product, First Quarter 2022 (Advance Estimate) Real gross domestic product (GDP) decreased at an annual rate of 1.4 percent in the first quarter of 2022, according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 6.9 percent…. The decrease in

https://ift.tt/pmVDs8I A view of multi colored Russian babushka nesting dolls. getty Dozens of companies have announced plans to either pause operations or cease operations in Russia on account of its war in Ukraine, which began in February. Apple said it would stop selling products in Russia. Pepsi is no longer producing soda in one of