Amsterdam-based tech investor Prosus NV netted $14.6 billion overnight from the sale of a 2% stake in Tencent, the company announced on Thursday. A filing from Tencent at the Hong Kong Stock Exchange revealed that Prosus had sold 191.89 million shares at HK$595.00 per share. “Our belief in Tencent and its management team is steadfast,
In the world of finance, the convergence of two institutions – outside of an M&A – is uncommon. Beyond this, we rarely see two financial brands come together for a common cause. However, when it does happen, it’s critical that they present a clear and unified proposition if they are to achieve success. And the
Unsurprisingly, financial services firms and their troves of sensitive data were a big target for threat actors in 2020. The rapid shift to remote work, coupled with insufficient budgets and a lack of training and awareness to mitigate attacks, led to an increased risk for many sectors. Despite the need for cybersecurity and the cost
Shares in food delivery startup Deliveroo rallied on Wednesday as its first day of unconditional trading on the London Stock Exchange began. Wednesday marked the first time that retail investors could trade shares in Deliveroo, including the 70,000 who invested in the company’s IPO. It followed a week of “conditional” trading that began last week,
TruLayer’s SaaS platform uses a toolkit to create specialist consumer and server message block (SMB) apps in payments, personal finance management and online lending. The collaboration with Wombat Invest, a swiftly growing startup investment platform that provides a user-friendly and secure interface for both novice and experienced investors, will provide the UK-based fintech with cutting-edge
Canada’s leading relationship-based product and pricing capability solutions service provider, Zafin, has announced a strategic partnership with the Dutch banking engagement platform, Backbase. According to reports, Zafin, which is one of North America’s leading fintech companies, will join forces with Backbase to implement its spectrum of solutions onto the Backbase platform. Read More
Hilton Grand Vacations (HGV) – The timeshare company posted a wider-than-expected loss for its latest quarter, while revenue was also below Wall Street forecasts. Hilton Grand Vacations said the pandemic has created a challenging environment but said 85% of its properties are now open and operating. Its shares fell 2.3% in premarket trading. Read More
Bitcoin slid Monday, pausing its stunning rally after Elon Musk said prices “seem high.” The world’s most valuable cryptocurrency sank over 10% to a price of $51,993 Monday morning, according to data from Coin Metrics. At one point, bitcoin had dipped below the $50,000 level, falling as low as $47,700. Read More
Tesla’s recent slide accelerated on Tuesday, as investors rotated out of high-flying tech names. Shares of the electric vehicle maker dipped as much as 13% the stock’s worst day since Sept. before recovering some of those losses. At 10 a.m. on Wall Street shares were down 7.8%. Read More
Dow component The Home Depot, Inc. (HD) is trading lower by more than 2% in Tuesday’s pre-market despite beating fourth quarter 2020 top- and bottom-line estimates by wide margins. The company booked a profit of $2.65 per share, $0.28 better than expectations, while revenue surged 25.1% year over year to $32.26 billion, beating consensus by
Hedge funds are still licking their wounds after a retail trading frenzy forced the industry to slash its overall exposure to stocks, leading to an underperformance in 2021. Last month, an army of retail investors who coordinated on social media managed to push GameStop shares up 400% in just one week, creating massive squeezes in
Nasdaq-100 component Baidu, Inc. (BIDU) is trading lower by less than 1% in Thursday’s pre-market session after meeting fourth quarter 2020 revenue guidance and beating profit estimates by a small margin. The Chinese search engine giant earned RMB 20.08 per share during the quarter, or $3.10 per share in greenbacks, while revenue rose 4.8% year
