Crypto Markets News 

Cryptocurrency freefall shaves $50 billion off market cap in 72 hours

“The collapse in cryptocurrencies has seen the total value of all coins fall to $326 billion, down some $50 billion in just 72 hours, according to Coinmarketcap” writes Aaron Hankin for marketwatch.com. Bitcoin Cash BCHUSD, -0.08% is the biggest loser, currently down 12%, trading below $1,000 at $991.30. Source: marketwatch.com Share This:

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Comcast’s cash offer for Fox assets may have difficult tax implications, sources say

“Comcast’s efforts to outbid Walt Disney for Twenty-First Century Fox assets may run into tax hurdles, sources told CNBC’s David Faber” writes Evelyn Cheng for cnbc.com. However, Disney’s stock offer would allow Fox to spin off the assets tax-free, while a cash offer from Comcast would result in a taxable spin, sources said.The telecommunications giant said Wednesday it is in “advanced stages of preparing” a “superior” all-cash offer for parts of Fox.Disney agreed in December to acquire those assets, which include Fox’s movie studios and a stake in Sky, for…

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Mobile payment firms struggle to dethrone cash in Southeast Asia

“And the mobile payment marketplace in Southeast Asia remains wide open, with no dominant players” writes Aradhana Aravindan for reuters.com. Mobile payments are ubiquitous in China; a consumer can spend a day without using cash at all in Beijing or Shanghai, and even some beggars accept mobile payments.Mobile payment companies bet they can transform their platforms into financial supermarkets, offering everything from loans to insurance on top of payment options.Mobile payments address some of those problems. Source: reuters.com Share This:

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Crypto Markets News 

Brian Kelly: Bitcoin Cash Development Fund Could…

“During the show, he explained that bitcoin cash miners had met to talk about the creation of a development fund for the 4th most valuable altcoin” writes Rebecca Campbell for livebitcoinnews.com. Over the last seven days bitcoin cash has dropped by nearly 17 percent, according to CoinMarketCap.Prior to the conference, Lee stated that bitcoin was set for a major rally.Bitcoin cash is the cryptocurrency that should be owned at the moment, according to a hedge fund manager who once said he’d put 90 percent of his money into digital currencies. Source:…

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Barclays may have been cleared, but scrutiny of its £12bn Qatar cash call will run on

“It is understood the SFO wants to seek to re-apply the charges against the bank in the coming weeks” writes Serious Fraud Office for telegraph.co.uk. In a statement to investors the high street bank said the Crown Court had dismissed all fraud charges against the lender relating to its £11.8bn emergency cash call at the height of the financial crisis.It is a major setback for the Serious Fraud Office (SFO), which has been investigating the 2008 fundraising largely bankrolled by the wealthy Gulf state of Qatar for the last five…

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News Stocks 

GE shares rise as Wall Street praises its deal to divest transportation business

“Wall Street analysts are cheering General Electric’s move to start splitting itself up after poor shareholder returns in the past year” writes unknown author for cnbc.com. On Monday the industrial conglomerate announced a deal to merge its transportation business with Wabtec in a transaction valued at $11.1 billion. “If this stock starts to move higher people will worry about missing the upside because it is in the index.”. “This deal is the largest cornerstone for [GE CEO] John Flannery’s plan to divest non-core assets,” William Blair analyst Nick Heymann said…

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Roper announces $1.1 billion acquisition of PowerPlan, consolidating IT services for businesses

“IT services provider Roper Technologies said on Monday it would buy software company PowerPlan for $1.1 billion in an all-cash deal from private equity firm Thoma Bravo” writes Baran Ozdemir for cnbc.com. This is Roper’s second billion-dollar deal with the private equity firm.During the first 12 months of ownership, Roper expects PowerPlan to generate about $150 million of revenue and $60 million of after-tax free cash flow. Source: cnbc.com Share This:

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