News Stocks 

The Fate of Bank Stocks Amid Quantitative Tightening

“Given the extrapolated performance of bank stocks, deregulation, quantitative tightening (interest-rate hikes), and a booming US economy do not seem to be having the desired effect on bank stocks” writes Finance Magnates Staff for financemagnates.com. Based on current trends, interest rates are set to rise modestly in 2019, which should propel bank stocks in the process.According to SelectUSA.gov, the financial services industry in the US comprised 7.5% of US GDP (gross domestic product) in 2017.Consider that in 2017, US financial services and insurance exports amounted to $114.5 billion.It is largely…

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trueDigital Appoints Bridgewater’s Thomas Kim as CEO

“Financial technology provider trueDigital, a subsidiary of swap execution facility operator TrueEX, announced on Tuesday that Thomas Kim has joined the firm as Chief Executive Officer (CEO)” writes David Kimberley for financemagnates.com. This will be instrumental as we double down on our ambitions to innovate, grow and scale.” Kim joins the financial technology company from Bridgewater Associates, an American investment management company, where he spent seven years.Prior to that, Kim also spent time at a number of major financial institutions, including Lehman Brothers and UNX. According to a statement released…

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We asked 8 Wall Street recruiters about the hottest trends in hiring across banking, trading, hedge funds, and asset management

“Here’s what recruiters say are the hottest trends driving hiring on Wall Street in 2019” writes Meghan Morris for businessinsider.com. Sign up here for our weekly newsletter Wall Street Insider, a behind-the-scenes look at the stories dominating banking, business, and big deals. Source: businessinsider.com

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Crypto News 

South Korean Capital to Invest Over $1 Billion in Fintech and Blockchain Startups by 2022

“The Seoul Metropolitan Government has announced plans to invest more than $1 billion in blockchain and fintech startups by 2022, according to the official announcement published on Feb. 18” writes Max Yakubowski for cointelegraph.com. We will expand our investment to […] stimulate the startup investment market and create a [competitive] startup ecosystem.”. According to the release, the South Korean capital’s government plans to use the “Seoul Innovation Growth Fund” for startups that have various investments problems with Series A funding rounds.The fund, launched last year, will primarily focus on startups…

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Microsoft’s investment arm M12 leads $15M funding round for corporate payments startup nsKnox

“In a press release, nsKnox cited a study where 78 percent of companies surveyed were victims of payment fraud in 2017” writes Nat Levy for geekwire.com. Microsoft has invested in a startup based in Boston and Tel Aviv, Israel, that aims to make corporate payments more secure.The startup makes technology that allows organizations to validate payment authenticity, verify sender and receiver, and identify and prevent manipulations. Source: geekwire.com

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Abu Qir Petroleum considering drilling new well with investments of $30m

“Moreover, Abdel Salam said that the company carried out a drilling plan for seven wells, including an exploratory well, which achieved positive results and was put on production” writes Daily News Egypt for dailynewsegypt.com. The company is currently executing the project of operating the ground compressor station with an investment of $14m, which is expected to add 25m scf of gas daily. Source: dailynewsegypt.com

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Two of the top five most active corporate VCs last year were Chinese

“Two Chinese firms ranked in the top five corporate venture capital groups last year, in terms of number of companies in which they invested, according to a new report from CB Insights” writes Str Afp for cnbc.com. For example, Microsoft invests into enterprise software start-ups through M12, its corporate venture capital subsidiary.Corporate venture capital refers to a type of funding where corporations use investment arms to buy into start-ups. Chinese internet giant Baidu’s investment unit, Baidu Ventures, and Legend Capital, a subsidiary of Chinese conglomerate Legend Holdings, ranked in the…

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Papa John’s founder Schnatter says he welcomes hedge fund Starboard

“In his amended lawsuit filed under seal in the Delaware Court of Chancery, Schnatter aims to undo a new provision of a voting agreement between Papa John’s and Starboard that requires the hedge fund vote its company shares in favor of Papa John’s preferred directors” reports businessinsider.com. Papa John’s this month unveiled Starboard’s investment of up to $250 million and named the fund’s chief executive, Jeff Smith, as its chairman.John Schnatter, founder and CEO of Papa John’s Pizza, arrives at the 2011 American Music Awards in Los Angeles Thomson Reuters…

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