The CEO of Swedish fintech startup Trustly, Johan Tjarnberg, has revealed that despite a 51% increase in operating profit, the company is not planning an initial public offering for at least another year or two. Tjarnberg emphasized the importance of proving the value of their open banking technology to investors before considering going public. He
Global Finance
Famed short seller Jim Chanos recently found himself in the midst of a legal battle, as a lawsuit was filed accusing him of embezzling funds for personal use. Chanos vehemently denied the allegations, calling them “false, baseless and defamatory.” The lawsuit, filed by Conlon Holdings, a Chicago-based firm run by Sean Conlon, claimed that Chanos
Clean energy stocks may not be performing well in the public market, but there is a growing appetite for companies focused on decarbonization in private markets. Clean Energy Ventures recently announced the successful raise of $305 million for its second fund, surpassing the initial target of $200 million. The oversubscription of the fund was driven
In recent years, there has been a noticeable shift in the travel preferences of Chinese tourists. A survey conducted by consulting firm Oliver Wyman revealed that only 14% of high-income households in mainland China, earning at least 30,000 yuan a month, who traveled internationally last year are planning to go abroad again in 2024. The
The Wall Street is set to undergo a significant change in trading settlements, with trades needing to be settled by the end of the next business day, known as “T+1 settlement.” This acceleration from the previous two-day settlement process aims to make the trading system more efficient and improve overall market resilience. While this change
In the world of exchange-traded funds, Roundhill Investments has made a bold move by introducing the GLP-1 & Weight Loss ETF (OZEM). This ETF focuses on companies involved in the development and production of GLP-1 weight loss drugs, with a particular emphasis on leaders such as Eli Lilly and Novo Nordisk. Explosive Growth Potential According
In a strategic move to boost its global presence, Alibaba’s international e-commerce platform, AliExpress, has signed a groundbreaking partnership with soccer legend David Beckham. The announcement marks a significant milestone in the company’s efforts to expand beyond its Chinese market and compete with other global players. This partnership comes at a time when Chinese companies,
It’s no secret that sometimes it pays to pay with cash. More and more merchants are offering discounts to customers who choose to pay with paper instead of plastic. Typically, cash discounts run about 2% to 4% on purchases, though savings can be even higher in some cases. While only about 3% of all cash
With the ongoing economic challenges and the aftermath of the global pandemic, many travelers, like Lora Bowler, are reevaluating their vacation spending habits. Lora Bowler, an avid traveler from New York, shares her experience of cutting back on vacation expenses by utilizing hotel day passes as a more cost-effective alternative for luxury relaxation. Hotel day
As more and more employers look for ways to help their employees save for retirement, auto-escalation has become a popular mechanism in company 401(k) plans. This feature automatically increases workers’ savings rate each year, typically by 1 percentage point at a time, with the aim of overcoming the inertia that often hinders individuals from saving
The rapid growth of private credit in the financial industry has raised numerous concerns regarding its sustainability during an economic downturn. While the industry has not experienced a significant downturn at scale, questions arise about how private credit lenders will handle potential crises and what it means for borrowers in such situations. During JPMorgan’s Investor
Norfolk Southern recently agreed to a $310 million settlement to address the aftermath of a toxic train derailment in East Palestine, Ohio, in February 2023. The settlement, negotiated in response to a lawsuit filed by the EPA and U.S. Department of Justice, is a stark reminder of the devastating environmental impact that industrial accidents can