Admirals Partners With Onfido for European Clients Verification LeapRate

December 20, 2023 BY Simon Mugo

Admirals Partners With Onfido for European Clients Verification

Integrating Onfido's advanced AI-driven identity verification technology is set to bolster security, reduce fraud, accelerate the onboarding process, and ensure adherence to diverse regulatory standards. With Onfido's sophisticated document and biometric verification solutions, Admirals will be able to authenticate user identities more effectively and identify fraudulent activities during the onboarding phase. This enhancement is expected…

December 20, 2023 BY Elizabeth Anderson

BP gears up for a new CEO

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…

December 19, 2023 BY Simon Mugo

Capex.com and NAGA Announce Merger Plans To Exploit Synergies

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…

December 19, 2023 BY Nick Ranga

SenseTime Group co-founder's death causes shares to plummet

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,…

December 19, 2023 BY Nick Ranga

Japanese stocks rise, yen falls as BOJ reaffirms ultra-easy policy

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…

December 18, 2023 BY Nick Ranga

Shares for Ozempic parent company, Novo Nordisk, rise 42% in 2023

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…

December 18, 2023 BY Nick Ranga

IBM to acquire two data platforms from Software AG for $2.3bn

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…

December 18, 2023 BY Nick Ranga

Shipping stocks rise following Red Sea attacks on merchant ships

As a result, European shipping stocks are likely to continue trading in a volatile manner due to concerns about disruptions in Red Sea routes caused by militant attacks, potentially leading to increased freight rates. The threats near Egypt's Suez Canal may impact rates as vessels opt for alternative, longer routes. Key players such as Moller-Maersk,…

December 15, 2023 BY Simon Mugo

EURUSD Pair Falls As Euro Weakens on Disappointing PMI Data

The Preliminary HCOB Services PMI for December dropped to 48.1, a decline from November's 48.7, defying expectations of a slight rise to 49. This indicates that the activity in the Eurozone’s crucial services sector is shrinking more rapidly than it did in the previous month. Similarly, the Manufacturing PMI remained static at 44.2, contrary to…

December 15, 2023 BY Elizabeth Anderson

China stocks surge after record liquidity injection

With 650bn yuan worth of MLF loans set to expire in December, the operation resulted in a net injection of 800bn yuan into the banking system, marking the most substantial monthly increase on record. The positive momentum extended beyond financial markets, with Chinese property stocks rallying due to the extension of eased home-buying restrictions to…

Category: Forex