Category: News

FCA
March 11, 2024 BY Simon Mugo

UK’s FCA Issues an Update About Its Stand on Crypto Asset Notes

RIEs are expected to maintain rigorous controls to ensure that trading remains orderly and that professional investors are adequately protected. cETNs must adhere to the comprehensive requirements set by the UK Listing Regime, including those related to prospectuses and continuous disclosure obligations. The FCA notes that with the accumulation of more data and a longer…

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March 11, 2024 BY Robert Bell

Aviva profits rise amid insurance boom

This growth was driven by businesses as well as individuals moving on to private healthcare rather than relying on the state’s services. This helped Aviva’s annual operating profits get a 9% boost in 2023, outperforming analyst predictions by reaching £1.5bn last year. Dame Amanda Blanc, the chief executive at Aviva, received remuneration of £6.6m in…

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March 11, 2024 BY Elizabeth Anderson

$100bn Trade Agreement to Boost India's Economy

This treaty will create one million direct jobs over the next 15 years to help address India's societal imbalance of wealth and poverty. In return, India committed to reducing import duties on products from the countries that form the European Free Trade Association (EFTA). AP reported this trade agreement covers 'goods and services, investment promotion…

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March 08, 2024 BY Simon Mugo

ECB Policymakers Rally Behind a Potential Rate Cut in Future

Although their opinions regarding when to initiate the rate cut varied slightly, the consensus leaned towards action before the summer. Joachim Nagel, President of the Bundesbank, indicated in an interview with the German podcast Table Today that a rate cut before the summer holidays is becoming increasingly probable. Nagel's stance is particularly noteworthy since the…

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March 08, 2024 BY Robert Bell

Paramount+ set to increase prices as it seeks profitability

This news came as Paramount (PARA) CFO Naveen Chopra spoke at the Morgan Stanley Technology, Media & Telecom Conference. The company believes that it will be profitable by 2025 without having to increase the cost of its packages in 2024. However, Chopra said that “going forward, we do anticipate future price increases”. He also said…

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New York Community Bancorp
March 08, 2024 BY Elizabeth Anderson

NYCB gets $1bn capital backing

The bank announced on Wednesday, 6 March 2024 that former Whitehouse Comptroller of the Currency, Joseph Otting, is its new CEO. This appointment is part of a $1bn capital infusion from investors, which reportedly includes past Treasury Secretary Steven Mnuchin. High interest rates and a problematic commercial real estate (CRE) market are some of the…

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Saudi Aramco Energy
March 07, 2024 BY Simon Mugo

Saudi Arabia Boosts the PIF Fund With an 8% Aramco Stake Transfer

In 2022, the PIF directly acquired a 4% stake in Aramco and another 4% indirectly through Sanabil, a wholly-owned subsidiary of PIF. Reuters' reports suggested that Saudi Arabia might be considering selling additional Aramco shares further to support the financing of its ambitious Vision 2030 program. Aramco's initial public offering, which occurred before the pandemic,…

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March 07, 2024 BY PureContent

Apple shares fall following $2bn fine

The case revolves around Spotify, which complained in 2019 that its users were prevented from finding out about alternative payment options apart from the App Store. The EU raised a case last year based on this and other companies whose customers are in the same situation. These restrictions were classed as unfair trading conditions in…

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