News 

JPMorgan buying WePay, shifting fintech investment into high gear

“There have been 166 fintech payment deals totaling at least $29.3 billion in 2017, the Journal reported, citing numbers from Financial Technology Partners” writes John Adams for paymentssource.com. The bank has made some investments, including a relatively small $10 million stake in LevelUp, participated in a $100 million investment in Bill.com, and invested in MCX’s mobile payments technology to bolster Chase Pay.For JPMorgan Chase, it’s a substantial commitment to its fintech investment strategy.JPMorgan Chase has made several investments in financial technology startups, but its plan to buy WePay will give…

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Phones 4u founder in High Court battle with financial expert accused of fiddling her expenses 

“French financial expert Nathalie Dauriac, is in a High Court battle with the businessman after being accused of stealing expenses” writes Telegraph Reporters for telegraph.co.uk. Phones 4u billionaire John Caudwell’s former right-hand woman claimed expenses for a haircut, a “detox week” and beauty treatment, a court has heard. Bosses at Signia Wealth Management say Ms Dauriac wrongfully claimed around £30,000 expenses and that she decided to resign rather than face the consequences of her actions.Ms Dauriac was chief executive at a wealth management company she set up with Mr Caudwell but left after complaints…

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Bots are transforming personal banking around the world

“Like other bots, banking bots have the potential for disaster” writes Deena Zaidi for venturebeat.com. The banking world is launching smarter bots and chatty virtual assistants, and the competition is only getting started.Many Swedish companies have rolled out advanced versions of banking bots designed to sound like women.Like Nao, Pepper was brought to the banking world by Softbank Robotics and Aldebaran Robotics. Source: venturebeat.com Share This:

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Brokers News Platforms 

The death of social trading: Conflict of interest results in exit rally; due diligence finds 80% of lead traders to be fake

“Since then, pretty much every single social trading platform has shuffled off the cyber coil” reports financefeeds.com. To no surprise whatsoever, social trading is largely a thing of the past.This is because said companies made their investment into developing solutions that would engage and retail retail traders which are largely based in their own domestic markets.Indeed, many stand-alone, third party social trading platforms are now history, but some companies that offer their own have been deleting the product from their range of services.Examples of the haplessness that began the fate…

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Markets News 

Swanky Swift event sweats as heat applied by cooler Swell

“But before it even began, an incumbent-versus-disruptor dynamic had already taken shape between SWIFT, the Belgium consortium that produces Sibos, and Ripple, the company that supplies blockchain technology to banks” writes Michael Craig Is for observer.com. Stellar’s token, XLM, soared on the news and its $579.45 million market cap makes it the 16th biggest token. Source: observer.com Share This:

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Crypto News 

Jamie Dimon is betting big on the technology behind ‘fraud’ bitcoin

“The largest U.S. bank is investing in the blockchain technology behind bitcoin, despite its CEO calling the digital currency a “fraud.”” writes David A for cnbc.com. In September, JPMorgan Chase Chairman and CEO Jamie Dimon said bitcoin is a “fraud” that “won’t end well.”. Blockchain technology eliminates the need for a third party intermediary by creating a permanent, open record of all transactions on a network.The digital currency has run up six times in price this year to a record high of $5,856 Friday.But at the same talk Friday, Dimon…

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Crypto News 

IBM is using the technology behind bitcoin to help businesses in countries with weak banking systems

“IBM is using the technology behind bitcoin to help farmers and other small businesses in underdeveloped countries participate in global trade” writes Becky Peterson for businessinsider.com. The announcement is the latest of several projects IBM is working on that use blockchain technology.While bitcoin is just one use of blockchain, the technology behind it is essentially the same: it’s a decentralized digital ledger. The payment system is already at work in 12 different regions across the Pacific Islands, Australia, New Zealand, and the UK.The companies will use IBM’s blockchain technology to…

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After earning an estimated $80 million, NFL great Terrell Owens lost it all — here are his 5 best pieces of advice about money today

“In the NFL, there are veteran players and financial programs that can help with financial questions” writes Stephen Layton for businessinsider.com. Legendary NFL receiver Terrell Owens knows a thing or two about money: the opportunities it can bring and the mistakes you can make with it.Athletes coming into money hear it all the time from financial advisers, according to Owens: “We’re gonna take care of you.Owens recently sat down with NerdWallet to talk about how he’s helping new NFL players — and their fans — avoid similar money woes and…

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Markets News Stocks 

Wall Street hits fresh records on financial, tech gains

“Financial stocks gained for the first time in four days, led by bank stocks” reports foxbusiness.com. (Reuters) – Major Wall Street indexes hit fresh records at the open on Monday on gains in financial and technology stocks even as investors awaited a barrage of earnings reports this week.Apple (AAPL) gained 1.05 percent, providing the biggest boost to the Nasdaq and the S&P after KeyBanc upgraded the stock to “overweight”.Groupon (GRPN) rose 4.5 percent after brokerage Cowen and Co upgraded the daily deals website operator’s stock to “market perform”. Source: foxbusiness.com Share…

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Markets News 

The Morning Ledger: U.S. Firms Tap Canadian Bond Market

“The Morning Ledger from CFO Journal cues up the most important news in corporate finance every weekday morning” writes Nina Trentmann Wsj for wsj.com. Wednesday: The Federal Reserve releases its beige book report on U.S. economic conditions.This week, there will be releases on U.S. industrial production, U.K. inflation and Chinese GDP. Tuesday: The U.S. Federal Reserve releases industrial production figures for September. Source: wsj.com Share This:

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