CHINA'S leading ride-hailing application Didi Chuxing said it has completed a US$5.5 billion financing to replenish its investment in artificial intelligence technologies. The funding round has drawn investors including Japan's Softbank Group Corp, private equity firm Silver Lake, China Merchants Bank and Bank of Communications, according to Reuters. The capital injection will be used to support its development for new technologies as well as globalization initiatives, according to ...
Ivanka Trump was not quite ready to go public with her investment fund--but the world found out about it anyway, thanks to Angela Merkel. Earlier this week, it was revealed that the first daughter is spearheading efforts to create an investment fund for female entrepreneurs. The news broke on a panel at the W20 Women's Summit in Berlin, where the German chancellor and U.S. presidential advisor were joined by IMF managing director Christine Lagarde and the Netherlands’ Queen Maxima. But acc...
CHINA'S leading ride-hailing application Didi Chuxing said it has completed a US$5.5 billion financing to replenish its investment in artificial intelligence technologies. The funding round has drawn investors including Japan's Softbank Group Corp, private equity firm Silver Lake, China Merchants Bank and Bank of Communications, according to Reuters. The capital injection will be used to support its development for new technologies as well as globalization initiatives, according to ...
SHANGHAI aims to attract more foreign investment by expanding its opening-up and building a more competitive market, officials said yesterday. A guideline highlighting 33 measures includes widening market entry, expanding support policies, creating an equal business environment, and lifting standards of government services for foreign investment companies. “Openness is the greatest advantage of Shanghai,” said Shang Yuying, head of the city’s commerce commission. “Th...
PONDER the dire state of infrastructure in America and some other advanced economies, and their governments’ fecklessness boggles the mind. Time was when they were able to make badly needed investments; the roads and the universities were a priority. What changed? Not for nothing do pundits cite the hustling governments of China and Singapore as evidence that liberal democracies are no longer fit for purpose. But democracy is not the problem; rather, governments may lack motivation in what is,...
TORONTO — The Canada Pension Plan Investment Board and Baring Private Equity Asia have signed a deal to take Nord Anglia Education private in a transaction that values the international school company at US$4.3 billion, including debt. The cash offer of $32.50 per share represents a premium of 17.7 per cent to Nord Anglia’s Monday closing on the New York Stock Exchange. Hong Kong-based Nord Anglia has 43 schools that teach a total of 37,000 students from kindergarten through to the end of hi...
For years, U.S. government leaders in rare bipartisan chorus have called for more wireless spectrum to fuel American innovation. It is time to turn talk into action. Spectrum - the radio frequencies used to transmit information to and from mobile devices - is a vital resource and part of our national infrastructure. Yet it sometimes sits idle when it could be fueling the high-tech economy in a competitive, open environment to keep America's global leadership in wireless innovation. American indu...
A friend of mine recently came into a large inheritance, almost $1 million. He went looking for professional help. Let us manage it for you, said a couple of advisers — for a mere two per cent fee, almost $20,000 a year! “Are the fees reduced if the investments do poorly?” my friend asked. They laughed. That’s not how it works, they said. It should be. The time has come to tie adviser fees to performance. Here are my terms: With half of my investment funds, I will buy a basic exchange-tr...
CHINESE companies' investment in countries along the Belt and Road rose again in Q1. From January to March, Chinese enterprises invested 2.95 billion U.S. dollars in 43 countries along the Belt and Road, according to the Ministry of Commerce (MOC) on Tuesday.
CHINA’S non-financial outbound direct investment slumped 30.1 percent in March from a year earlier as authorities kept tight scrutiny on cross-border capital flows. Non-financial ODI totaled US$7.11 billion last month, Ministry of Commerce data showed yesterday. For the first three months of this year, non-financial ODI tumbled 48.8 percent to US$20.54 billion from the same period of last year. Outbound investment in countries involved in China’s Belt and Road initiative was US...
Countries such as the U.K. and Australia have made real progress towards protecting investors, but the Canadian investment industry has been very reluctant to embrace changes such as adopting a legal fiduciary duty to act in a client’s best interest and it is also actively pushing back against disclosing fees. Imposing one without the other, however, causes some unintended consequences and reshapes the landscape of what is now being sold to investors. For example, brokers and advisers have qui...
The CEO of Voya Financial has some reassuring words for investors frightened by the geopolitical risks around the world and the recent pullback in the markets: Think long term. Rodney Martin tells Fortune's Susie Gharib: "We are bullish on the long-term prospect for the market. We are cautiously optimistic on rising interest rates. That's good for our customers. It's good for America." But he adds, "Our biggest caution for our customers is the not jumping in and out of the market, being consiste...
FOREIGN investment in real estate has long been a politically and financially contentious issue in Australia. However, there is bipartisan political support for allowing overseas investment in real estate. But erroneous misconceptions remain as to the actual impact that foreign, and in particular Chinese investment, has had in Australia. Despite substantive evidence to the contrary, such as the findings of an Australian Treasury report late last year, a definitive intercultural relations b...
New Club World products onboard a special flight on a 787-9, which also marked the opening of the airline's new lounges at London Gatwick and in Boston. Nick Morrish / British AirwaysSkift Take: British Airways has finally come around started investing in its business class cabin. But it may be too late to catch up with Delta, United, and the Middle East carriers. — Grant Martin“New Thinking. New Flying.” That’s the slogan of a new campaign that British Airways is putting t...
CHINA’S economic growth will be stable this year, with investment opportunities likely to emerge in digitization, technological innovation and consumption, experts told a forum over the weekend. China will remain a center of manufacturing for the world despite companies relocating their factories in other parts of Asia, Francisco Aristeguieta, Asia-Pacific CEO of Citigroup, said at the CEIBS Private Wealth Investment Forum, co-organized by University of Virginia’s Darden School o...
Some renovations can make your home more difficult to sell, and others will not recuperate the money you spent on them when it comes time to sell your home. These are some of the biggest culprits, from kitchen appliances to home theater rooms. The post For love or money: Some home renovations aren’t worth the investment appeared first on Digital Trends.
White House economic adviser Gary Cohn said in a private meeting with lawmakers that he supports a policy that could revamp Wall Street’s biggest firms by separating their consumer-lending businesses from their investment banks, Bloomberg reported, citing sources. The National Economic Council director, also a former Goldman Sachs gs president, said he favors a system of banking where firms like Goldman Sachs focus on trading and underwriting securit...
Sentry Investments Inc. has agreed to pay a $1.5 million administrative penalty to the Ontario Securities Commission as part of a settlement agreement. The OSC had alleged the firm breached rules governing the provision of gifts and non-monetary benefits to mutual fund dealers. An agreed statement of facts released Wednesday said Sentry “failed to meet the minimum standards of conduct expected of industry participants in relation to certain sales practices.” In addition, “Sentry did not ha...
It’s been nearly nine years since Bernie Madoff’s $68 billion ponzi scheme was revealed. Just about eight since he was sentenced to 150 years in prison. Now, Principal Financial Group is accusing hedge fund Liongate Capital Management of hiding investments with Madoff, according to Bloomberg. Principal claims Liongate founders Randall Dillard and Jeff Holland, as well as head of research Benjamin Funk, negotiated and then sold their stakes in Liongate in early March 2013 after failin...
Relative stability in Zimbabwe has triggered an uptick in tourism and Victoria Falls area is one of the beneficiaries. Richard HolmesSkift Take: For tourism operators surrounding Victoria Falls, the fabled Zambezi river god Nyami Nyami appears to be smiling on them at last. After years in the tourism wilderness, the tide has turned and business is booming in the northern reaches of Zimbabwe. — Richard Holmes Editor’s Note: Skift launched a new series, Gateway, to broaden our news covera...