Hong Kong’s SFC Warns Investors Against ByBit, a Crypto Broker LeapRate

March 14, 2024 BY Simon Mugo

Hong Kong’s SFC Warns Investors Against ByBit, a Crypto Broker

The regulatory body specifically pointed out various offerings from Bybit, such as futures contracts, options, leveraged tokens, and other cryptocurrency-related services. These offerings have been promoted to Hong Kong's investors without the necessary regulatory approval, which could subject them to considerable financial jeopardy. In Hong Kong, transactions involving crypto-related products are classified as regulated activities…

March 14, 2024 BY Robert Bell

2023 saw record amount of corporate dividends paid

The data comes from the Janus Henderson Global Dividend Index (JHGDI) report, which is released on a quarterly basis. It confirmed that Microsoft (MSFT) paid the most significant dividend in 2023. Apple (APPL) and Exxon Mobil (XOM) followed the tech giant on the list. Ben Lofthouse, the head of global equity income at Janus Henderson,…

March 14, 2024 BY Elizabeth Anderson

MIPIM 2024 Reflects Mixed Feelings on CRE Recovery

Reportedly, concerns at the forefront include the plunging commercial real estate market (CRE). During the pandemic, many offices were vacated by staff, and businesses established remote work practices. Since then, the market never fully recovered. Based on Reuters information, the 20,000 attendees include property giants such as LaSalle, Greystar, AEW, Patrizia and Federated Hermes (FHI.N).…

March 14, 2024 BY Elizabeth Anderson

Italy’s expansion of local auto production may include China’s Chery

According to its latest report, Chery sold more than 1.8 million units in 2023, establishing a 52.6% year-on-year increase. For the same period, the carmaker exported over 937,000 vehicles to take China’s top spot as its most prominent passenger vehicle exporter for 21 consecutive years. In a Reuters exclusive, sources close to the matter indicated…

March 13, 2024 BY Simon Mugo

UniCredit Is Looking for Ways To Deploy Its Excess Capital via M&A

Orcel emphasised the importance of business expansion and asserted that acquiring at the right price is preferable to merely distributing excess capital to shareholders. UniCredit stands out in the European banking landscape for its robust capital distribution strategy, incorporating share buybacks and cash dividends. This approach places the bank among the continent's most generous regarding…

March 13, 2024 BY Simon Mugo

Metro Bank’s Loss Narrows As It Plans More Cost-Cutting Measures

Following a period of unstable trading conditions, the bank secured a financial lifeline through a £925 million ($1.18 billion) bailout in October. In response to these challenges, Metro Bank embarked on a series of austerity measures, including workforce reductions and eliminating several customer benefits, such as its seven-day-a-week banking service. The bank's efforts appear to…

March 13, 2024 BY Robert Bell

Reddit aims for $6.4bn valuation

Reddit, a news aggregation site and forum network with over 73 million users, has never made a profit to date, but is regarded as one of the world’s biggest and most widely read websites. It has now revealed that its IPO will involve 22 million shares that will be sold for between $31 and $34…

March 13, 2024 BY Elizabeth Anderson

Grayscale Files SEC Request for GBTC Spin-off

This investment manager, which currently has the world’s largest Bitcoin ETF, is seemingly initiating this fund to offset its losses against more cost-effective competitors. Although the Grayscale Bitcoin Mini Trust will have lower fees, it will not spark capital gains tax for Grayscale Bitcoin Trust (GBTC) investors. Grayscale indicated that its current GBTC would seed…

March 13, 2024 BY Elizabeth Anderson

Oracle shares making the most of surge in bookings

For its financial quarter ending 2024, the company reported total remaining performance obligations of $80bn instead of the predicted $59bn. This 29% all-time high increase strengthens Oracle’s global competitiveness. In its press statement, chief executive officer Safra Catz noted: We expect to continue receiving large contracts reserving cloud infrastructure capacity because the demand for our…

March 12, 2024 BY Simon Mugo

Italy Plans To Launch a 1 Billion Euros AI Investment Fund

The fund is supported by CDP Venture Capital, which operates under Cassa Depositi e Prestiti (CDP), Italy's state-backed financial institution known for its investment in innovative and strategic sectors for the country's economic growth. During a conference on AI held in Rome, which brought together experts, policymakers, and industry leaders to discuss the future of…