News 

Plastiq Lands Funding For Tool Broadening SMBs’ Use Of Cards

“Plastiq allows businesses and consumers to pay Klarna with their credit cards, while Klarna will then pay their bills on the appropriate payment rail” reports pymnts.com. FinTech startup Plastiq has announced a $27 million venture capital funding round for its solution that lets businesses and consumers make payments with their payment cards, regardless of if cards are accepted.The tool also helps companies pay bills that typically aren’t paid via cards, such as rental payments.Plastiq said it plans to use the investment to introduce new services for business owners and entrepreneurs, as…

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Money smuggled from Africa

“Therefore, international institutions should review the frameworks of combating money laundering and the financing of terrorism and adding laws and mechanisms which will reduce the continuity of contraband money, whether transferred through banks or across borders” writes Zakaria Salah El for dailynewsegypt.com. These funds, if transferred through banks or smuggled across borders, despite having some benefits to the countries smuggled to, in countries of weak governance systems and the spread of corruption, may lead to high inflation rates.The desire to legitimise such money is done through excessive pricing of goods,…

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Markets News Regulators 

As Wall Street gets less bullish, one veteran investor downgrades his outlook on the US economy

“In particular, one market risk is at the forefront of his mind” writes unknown author for cnbc.com. The Fed’s dot plot release in September suggests a fed funds rate of 3.1 percent for 2019, meaning as many as three rate hikes next year.Markets are pricing in another 25-basis point hike at that meeting, according to CME Group fed funds futures.”But the Fed’s dot plots have them continuing to hike, bringing the funds rate up to about 3.5 percent in the middle of 2020,” added Orlando. Source: cnbc.com Share This:

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Several high-profile funds raised stakes in GE before selloff: filings

“GE shares have collapsed more than 50 percent this year, including 31 percent over the last month” writes Midwest Communications Inc for 95kqds.com. It is not clear whether the fund investors kept their stakes during the selloff.Quarterly disclosures of hedge fund managers’ stock holdings in 13F filings with the SEC are one of the few public ways of tracking what the managers are selling and buying.NEW YORK (Reuters) – Several prominent investors raised their stakes in General Electric Co in the third quarter, before its shares sank in recent weeks,…

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Crypto News 

Judge Rules in Favor of Canadian Bank in Dispute With Crypto Exchange

“In the recent court file, Judge Glenn Hainey of the Ontario Superior Court ruled in favor of the bank, agreeing that the owner of the funds is not clearly established” writes Ana Alexandre for cointelegraph.com. A $19.6 million disputed sum between Canada’s largest crypto exchange QuadrigaCX and the Canadian Imperial Bank of Commerce (CIBC) has been handed into the custody of the Ontario Superior Court, per a court document filed Nov. 9.The bank purportedly froze the accounts due to an inability to identify the funds’ owners.In response, QuadrigaCX told the…

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Crypto News Platforms 

Would You Pay $30k to Withdraw $1m? What You Need to Know About Bitfinex’s New 3% Wire Withdrawal Fee

“Bitfinex, the 17th largest cryptocurrency exchange by trade volume, has announced a new fee structure for high volume / high value fiat withdrawals” writes Kuldeep Kaul for livebitcoinnews.com. Bitfinex, one of the leading cryptocurrency exchanges, earlier on Sunday made an announcement on its website revealing a new fee structure for fiat withdrawals.Customers willing to withdraw funds from the exchange could, in theory, resort to exiting by converting to USDT because fiat withdrawals have become expensive. Source: livebitcoinnews.com Share This:

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Markets News 

Hedge funds are now negative for the year following stock market sell-off

“October’s miserable market month took its toll across the board, including the hedge fund industry, which collectively turned negative for the year” writes unknown author for cnbc.com. Bad as October was, hedge funds actually outperformed the stock market, as the S&P 500 fell 6.9 percent.”October’s fund performance and resulting impact on YTD performance are in stark contrast to the largely positive results hedge funds saw in 2017 and 2016.”. Hedge fund returns declined 3.1 percent during the month, according to industry tracker eVestment, the second-worst month since 2011.The declines dragged…

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Markets News 

Hedge funds just suffered through their worst month in 8 years — here’s why their struggles could just be getting started

“In October, hedge funds had their worst month since 2010” writes Joe Ciolli for businessinsider.com. What occurred instead is a very real shift in sentiment that could continue to hamper hedge funds through 2019, the firm says.Perhaps most ominous of all are the questions this tough stretch of performance has raised for the future of hedge funds.But few parties felt the pain like hedge funds, which turned in a rocky month for the ages. “Similar to 2016, we expect that fundamentally-driven, equity-focused Equity Long/Short and Event Driven hedge funds will…

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GBP Markets News 

Hedge funds caught short when Brexit talks surprise

“The market’s view on sterling over three to six months is near its most negative since shortly after the 2016 Brexit vote, options markets indicate” writes Midwest Communications Inc for 95kqds.com. That means that big jumps in sterling may reflect investor positions rather than outright confidence of a deal.Sterling’s trade-weighted index, which measures the value of the pound against its trading partners, is trading 16 percent below its 40-year average.Since its dramatic drop after the Brexit referendum in June 2016, sterling has become the principal gauge of sentiment in financial…

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News 

Trump plans to stop disaster relief funds to Puerto Rico

“The president believes, without evidence, that the Puerto Rican government is using the disaster relief funds to pay off debt rather than help its citizens rebuild, according to Axios” writes Associated Press for nypost.com. Instead, the newspaper reported that the federal oversight board simply raised the possibility of hedge funds restructuring the country’s debt and help it out of bankruptcy court.The president claims that Democrats are trying to “make me look as bad as possible.” His recent outburst stems from an October article in The Wall Street Journal, according to…

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