Walmart-owned Flipkart’s digital payments arm PhonePe has received a Rs 427 crore (about $60 million) cash infusion from its Singapore-based parent, regulatory filings show. This is the third such capital infusion into the loss-making digital payments company in the ongoing fiscal year, with investments totalling Rs 1,710 crore (around $240 million). PhonePe Private Ltd, Singapore, […]
Archives for February 2020
It’s Karma: Once struggling startup unlocks fintech riches
By Tom Metcalf and Julie Verhage Ken Lin co-founded Credit Karma Inc. in 2007 after struggling to find out his own credit score. That’s something he probably won’t need in the future. Intuit Inc. — the software giant behind TurboTax — said Monday it’s buying Credit Karma for about $7.1 billion in cash and stock. […]
Jupiter launches European Smaller Companies Fund
Jupiter has today added to its European fund range with the launch of the Jupiter European Smaller Companies fund. The new fund will be managed by Jupiter’s co-head of European Growth, Mark Heslop. The unconstrained fund will aim to achieve long term capital growth by investing in small-cap European firms (excluding the UK). The fund […]
When A Client’s Financial Problems Are Beyond Financial Advice: How (And When) To Refer Clients To A Mental Health Professional
Executive Summary As financial advisors know, talking to clients about money can get emotionally charged, especially when the discussion concerns major (and potentially traumatic) life events. And sometimes, clients can become so distraught or unable to face the challenging issues in their past… even as the failure to deal with those issues prevents them from […]
CFOs Could Change Pension Accounting Style to Avoid Drag on Earnings – The Wall Street Journal
AT&T Inc. in 2010 switched to the mark-to-market method to improve the transparency of its accounting. Photo: Alejandro Cegarra/Bloomberg News By Mark Maurer Feb. 26, 2020 5:30 am ET Low interest rates could spur more U.S. finance chiefs to overhaul how they account for pensions in their financial statements, a move that could prevent increased […]
Start-up support and plenty of new partner moves aim to make IoT work
In his latest ecosystem column, Antony Savvas charts a blockbuster first couple months of the year, involving both new companies and well-established ones. Internet of Things (IoT) network provider, Sigfox has launched the second edition of its Hacking House event in Paris. For six months, participants from seven different countries will bring IoT-based projects to […]
Walmart to turn some stores into Flipkart warehouses
US-based retailer Walmart has set in motion plans to convert some of its two dozen wholesale stores into fulfilment centres for homegrown ecommerce firm Flipkart, which it owns, as part of a restructuring process of its cash-and-carry business, multiple people familiar with the development said. “Out of the 28 stores, six will be converted into […]
Hope country remains a progressive democracy: Microsoft’s Satya Nadella
Terming himself as an “India optimist”, Microsoft chief executive Satya Nadella said he hoped the country of his birth continued to be a “progressive democracy“. In an exclusive interview with ET, the 52-year-old leader of the world’s third-most valuable company said it is the people and governments that decide on policies such as immigration and […]
Your New Partner: Client Data
Have you ever been browsing Facebook and come across an ad for something you just need to have? How did they know I needed a Furbo dog camera, you might think. I was just talking about how my dog needs to be surveilled when he is alone in the house (you know, so you can […]
State Street’s $2B loan ETF posts biggest outflow ever
ETF investors are souring on floating-rate loans amid growing bets that the coronavirus will force the Fed to cut borrowing costs. State Street’s $2.1 billion SPDR Blackstone/GSO Senior Loan ETF (SRLN) posted a record outflow of $372 million Friday. That follows a similar exodus from the $5.5 billion Invesco Senior Loan ETF (BKLN), which is […]