Looney resigned with immediate effect on 12 September after informing the company he was not completely honest and forthcoming regarding his personal relationships with co-workers. Following an investigation, the British oil giant dismissed Looney on 13 December without notice. Last week, BP announced it withheld approximately $40m in remuneration following the prompt dismissal. Now that…
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As reported by Coindesk, based on court documents released on Tuesday, the judge handling the case did not provide Kwon an opportunity to express his views on the U.S. extradition request. This step is a compulsory procedure under the law. Kwon's legal team successfully appealed based on this error, resulting in the case being sent…
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The fusion involves a reverse merger, where Capex.com merges into NAGA Group AG via a non-cash equity increase. Furthermore, Patrascu has committed to investing $9 million in NAGA through a convertible bond. This strategic step aims to form a robust fintech organisation, leveraging both entities' combined strengths and customer bases. NAGA and Capex.com, together, serve…
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According to Yahoo!Finance, Google is expected to pay out $70m to a state fund which includes all 50 states, Puerto Rico, the Virgin Islands and the District of Columbia. Google is also set to pay $630m into a consumer settlement fund which will then send $2 minimum to eligible customers based on their Google Play…
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Tang (55 y/o), who passed away on Friday 15 December from an undisclosed illness, was previously the company’s dominant class A shareholder and in charge of the company’s voting structure. SenseTime will now need to regroup and navigate this sudden challenge while mourning the loss of their voting leadership. Don’t miss out on the latest news,…
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In a unanimous decision, the central bank opted to keep interest rates at -0.1% while adhering to its yield curve policy, referencing the 1% upper limit for 10-year Japanese government bonds. It reaffirmed its view that the economic uncertainty is “extremely high,” and it is committed to taking "additional easing steps if necessary.” Don’t miss…
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According to the ESMA's findings, there was a noticeable reduction in the average cost of investing in these products compared to the previous year. However, the report emphasises the ongoing disparity in costs among different EU countries. Enhanced transparency and potentially reduced expenses are attributed to more explicit fee information, a requirement under EU regulations.…
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Now operating its consumer services under the Taurex brand and its business-to-business services as Zenfinex, the group is planning a significant investment in its own technological developments following the recent influx of funds. The investments include the development of a new mobile app and an enhanced web platform, as shared with Finance Magnates. The launch…
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On Sunday, 17th December, industry experts noted that while the firm has grown rapidly in 2023, keeping momentum throughout 2024 will be noticeably harder, with investors predicting only a 9% upside on average for next year. Portfolio manager at Antipodes Partners, Nick Cameron, noted 2024 investor predictions: [Novo is] an excellent R&D company, and they’re…
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The transaction is contingent on customary closing conditions and regulatory approvals, with completion expected in Q2 2024. This strategic move aligns with IBM's ongoing efforts to enhance its technological capabilities and expand its footprint in the enterprise software domain. Rob Thomas, Senior Vice President, Software and Chief Commercial Officer, IBM, noted: Together with IBM's Watsonx.ai and…
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