KEEP UP TO DATE WITH THE LEADING NEWS.
North America: Viacom CEO Bakish sees CBS deal closing in December, ‘disappointed’ by stock reaction
CEO of the newly combined CBS and Viacom says those stocks aren’t rallying the way he hoped.
“Clearly we’re disappointed with how the stocks are reacting,” Bakish told CNBC’s David Faber on “Squawk Alley” Tuesday.MORE >>>
North America: Better.com Raises $160M Series C At $600M+ Valuation To Speed Up Mortgage Lending
Digital mortgage startup Better.com announced this morning it closed a $160 million Series C. The new capital values the company at “north of $600 million,” it said.MORE >>>
Africa: Zimbabwe: Outrage Over Ecocash Charges
Ordinary Zimbabweans and economic experts have raised a red flag over excessive premiums charged by EcoCash agents when withdrawing cash, saying this was unlawful, inflationary and eroded recent salary increases awarded to most workers, including civil servants. The Zimbabwe Anti-Corruption Commission said it was investigating the EcoCash agents while the Reserve Bank of Zimbabwe indicated that it would increase cash in circulation to eliminate arbitrage opportunity.MORE >>>
Asia: Fintech investments into China hit $60.1b in 2014-Q1 2019
ASIAN BANKING & FINANCE
Payment and remittances companies snapped up $24.7b in funding. Fintech investments in China has reached a whopping $60.1b in 2014-Q1 2019 amidst massive capital injections scored by startups in the payments and remittances verticals, according to a report by FinTech Global.MORE >>>
Asia: Singapore banks ace corporate customer satisfaction survey
ASIAN BANKING & FINANCE
DBS retained the crown in terms of back office centralization. Corporate clients in Asia gave top marks to the way banks in Singapore managed their back office centralization, according to a survey from East & Partners.MORE >>>
South America: What’s Driving the Digital Banking Boom In Latin America?
The availability of financial services is improving rapidly in emerging markets around the world. Driving this change is the widespread usage of mobile devices. Among the 1.7 billion unbanked adults worldwide, it’s estimated that over one billion now have access to a mobile device. In Latin America, the percentage of the region’s population that used a smartphone in 2018 reached 64%, and that number is expected to reach 78% by 2025.MORE >>>
Europe: Europe’s banks may be at risk of failing if negative rates continue: EIU
Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, Simon Baptist, global chief economist of the Economist Intelligence Unit, told CNBC.
European banks have struggled for years in a persistently low interest rate environment. Low interest rates hurt lenders’ profits as they narrow the margin that banks can earn.MORE >>>
Europe: Why London’s Fintech Scene is Largely Unfazed by Brexit
THE FINTECH TIMES
Since 2016, investment in UK fintechs has repeatedly surpassed that of their European peers. It jumped by 153% in 2017, reaching over USD 1.6 billion. In 2018, private equity and venture capital funds poured another USD 3.3 billion into the sector — 56% of the total value invested in Europe.MORE >>>
Oceania: The ‘neo-banks’ set to shake up Australia’s banking scene
THE NEW DAILY
Two new banks have burst into Australia’s otherwise stagnant banking market, and customers are flocking to them in droves. The two so-called ‘neo-banks’, Xinja and 86 400, are completely digital offerings with no branches to speak of, instead providing a range of traditional banking services through apps on customers’ smartphones.MORE >>>