Markets News Stocks 

Cannabis producer Canopy Growth pops after receiving a license to process hemp in New York

“Canopy ‘s investment was supported by a recent deal with Constellation Brands, the maker of Corona beer based in New York, the company said” writes Ethel Jiang for businessinsider.com. Canopy’s entering into the US market comes one month after President Donald Trump signed the US Farm Bill into law, legalizing hemp.In November, Constellation closed its deal to invest $4 billion in Canopy. Source: businessinsider.com

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Merrill Lynch is creating a guide to help wealthy people choose how to spend their money, and there are only 4 options

“If you’re choosing the option to grow your net worth, whether you want to hit the $1 million mark or the $50 million mark, the same principles apply” writes Tanza Loudenback for businessinsider.com. Understanding all the ways in which money is spent today is an essential step in planning for future wealth. Source: businessinsider.com

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White House’s shock request for strike options on Iran suggests an extremely dangerous possibility

“President Donald Trump’s National Security Advisor John Bolton reportedly asked the Pentagon to provide military options for striking Iran, which experts say should have been standard procedure, but somehow managed to shock defense officials” writes Alex Lockie for businessinsider.com. If Bolton requested options for airstrikes from the Pentagon, “somebody should come back and say that’s a really dumb idea,” he continued.But according to Ned Price, former special assistant to President Obama on the National Security Council, Bolton’s response to an attack on the US represents standard operating procedure.Clawson said it…

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Crypto News 

HSBC settles forex deals worth $250 billion on blockchain in last year

“HSBC would not give data on forex trades settled by traditional processes, saying only that those settled by blockchain represented a “small” proportion” reports businessinsider.com. The bank has settled over three million forex trades and made over 150,000 payments since February using blockchain, it said in a statement.HSBC said its blockchain technology has automated manual processes and reduced its reliance on external technology.Blockchain has also lowered the risks of errors and delays, cut costs, and helped the bank to better optimize its balance sheet, it said. Richard Bibbey, the bank’s…

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Andreessen Horowitz is starting to invest in an area of healthcare that the firm has historically avoided

“Andreessen Horowitz, a top Silicon Valley venture-capital firm known for investing in tech startups like Facebook and Instagram, changed its tune in 2015” writes Lydia Ramsey for businessinsider.com. So far, Andreessen Horowitz has invested in companies like synthetic biology company Asimov, but is planning to do more on the therapeutics end.Now, as the firm invests its second, $450 million, bio fund, Andreessen Horowitz is looking to make more investments in therapeutics, particularly ones that have “superpowers,” Conde said.The venture firm is famous for its slogan “software is eating the world,”…

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$457 billion Blackstone has poached a growth equity veteran as it pushes into a new business area

“TPG started its growth business, which now manages $13.2 billion in assets, in 2007, while KKR founded its $2 billion growth platform in 2012” writes Meghan Morris for businessinsider.com. Its latest expansion area is growth equity – investing in companies that are too big for venture capital, but not mature enough for its sizable private equity arm.See more: Blackstone raises $9.4 billion for Asia real estate, private equity funds Blackstone, which was founded in 1985, has built its business on four areas: private equity, real estate, credit, and hedge funds.Newer…

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Aurora Cannabis is buying an organic medical marijuana company in the latest pot M&A tie-up

“It’s also the latest deal in what has already been a hot few weeks for M&A in the cannabis industry” writes Jeremy Berke for businessinsider.com. Aurora Cannabis on Monday said it’s acquiring Whistler Medical Marijuana Corporation, an organic cultivator based in Whistler, British Columbia, in an all-stock deal worth up to $132 million ($175 million CDN).Analysts said the Whistler deal gives Aurora a leg-up on branding power, in an industry where advertising is heavily restricted.The company operates two indoor marijuana cultivation facilities in British Columbia, including one under construction in…

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Fiat Chrysler reviews Italy plan after new taxes on polluting cars

“FCA’s Manley and Elkann speaks at the North American International Auto Show in Detroit, Michigan Thomson Reuters DETROIT (Reuters) – Fiat Chrysler is reviewing its 5 billion euro ($5.74 billion) investment plan for Italy after the country approved measures slapping taxes on the purchase of larger petrol and diesel cars, Chief Executive Mike Manley said on Monday” reports businessinsider.com. The chief executive, who took over the helm at the world’s seventh-largest carmaker last year after the sudden death of industry veteran Sergio Marchionne, also said that Fiat Chrysler’s robotics business…

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