Tag Archives: Bank

A former financial regulator says the United States needs to step up its research into a central bank-issued digital currency, as the Federal Reserve explores the viability of a digital dollar. Christopher Giancarlo, who ran the Commodity Futures Trading Commission (CFTC) as its chairman from 2017 to 2019, is working with consulting firm Accenture on pilot programs that will test different use cases for a digital dollar in the United States. “What’s not being done, and what needs to be… Source link

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[unable to retrieve full-text content]Yandex acquires Acropol Bank for $14.7 million – TechGraph  TechGraph Source link

Yandex said on Thursday it had agreed to buy mid-sized bank Acropol for 1.1 billion roubles ($14.8 million), a move that will secure a banking licence for the Russian internet company so that it can develop financial services. Yandex has sought a means to develop its fintech offering after its split from a joint venture with state lender Sberbank last summer meant it ceded control of e-payment service Yandex.Money. In October, a $5.48… Source link

Bloomberg HNA Group Assets Attract Interest From Fosun, JD.com (Bloomberg) — Fosun Group and an arm of JD.com Inc. are among suitors considering investing in domestic operations of HNA Group Co. as the indebted Chinese conglomerate is reorganized after being placed under government control, people with knowledge of the matter said.Ping An Insurance Group Co., Juneyao Airlines Co. and Air China Ltd. have also been studying HNA’s assets, the people said, asking not to be identified because… Source link

Bloomberg Bonds Beat Stocks at Pension Funds, Turning 60/40 Inside Out (Bloomberg) — The debate over the traditional 60/40 portfolio seems endless, but for pensions at least, it’s over — and bonds won.The retirement funds of the top 100 U.S. public companies, with combined assets of about $1.8 trillion, have ratcheted up their fixed-income allocations to a record level. At the end of their last fiscal year, they held 50.2% of assets in debt, while slashing money parked in equities to an… Source link

Bloomberg Shock and Tears: Behind Vanguard’s Retreat From China Market (Bloomberg) — Vanguard Group Inc. staff who dialed into a video call from their desks on the 40th floor of the Shanghai World Financial Center last month were expecting a morale-boosting speech from regional head Scott Conking on how the U.S. fund giant would tackle the Chinese market after years of preparation.Instead, Conking said the $7 trillion money manager was abandoning its push for a mutual fund license. The firm… Source link

EquityStory.RS, LLC-News: Yandex N.V. / Key word(s): Acquisition/Acquisition 29.04.2021 / 11:00 MSKThe issuer is solely responsible for the content of this announcement. Yandex Announces Acquisition of a Bank to Obtain a License Moscow and Amsterdam, the Netherlands, April 29, 2021 – Yandex (NASDAQ and MOEX: YNDX), one of Europe’s largest internet companies and the leading search provider in Russia, today announced that it has entered into an agreement to purchase 100% of Acropol Bank. The… Source link

Bloomberg Shock and Tears: Behind Vanguard’s Retreat From China’s Market (Bloomberg) — Vanguard Group Inc. staff who dialed into a video call from their desks on the 40th floor of the Shanghai World Financial Center last month were expecting a morale-boosting speech from regional head Scott Conking on how the U.S. fund giant would tackle the Chinese market after years of preparation.Instead, Conking said the $7 trillion money manager was abandoning its push for a mutual fund license. The… Source link

(Adds detail) MOSCOW, April 29 (Reuters) – Yandex said on Thursday it had agreed to buy mid-sized bank Acropol for 1.1 billion roubles ($14.8 million), a move that will secure a banking licence for the Russian internet company so that it can develop financial services. Yandex has sought a means to develop its fintech offering after its split from a joint venture with state lender Sberbank last summer meant it ceded control of e-payment service Yandex.Money. In October, a $5.48 billion… Source link