Ayasdi, a Machine Intelligence software provider, announced more than 400% bookings growth for fiscal year ended January 30, 2015, and a new $55 million (€50.6 million) round of Series C funding, led by Kleiner Perkins Caufield & Byers (KPCB), and joined by existing investors, Institutional Venture Partners (IVP), Khosla Ventures, Floodgate, Citi Ventures, and new […]
Industrial and Commercial Bank of China Limited (ICBC) posted a net profit of RMB276.3 billion (€41.5 billion) for the year of 2014, representing a growth of 5.1% over 2013, the bank announced on March 26, 2015. In 2014, in response to an increasingly complex global economy, coupled with rising economic challenges and deepening financial reform […]
Banks must concentrate on harnessing a range of digital technologies or risk losing customers to a new wave of competitors, according to a new report by the BBA and Accenture. Called Digital Disruption, the report features interviews with leading experts from banks setting out their vision of the future and raises questions for regulators […]
European Central Bank (ECB) and Bank of England (BoE) have announced measures to enhance financial stability in relation to centrally cleared markets in the EU. The ECB and the BoE have agreed enhanced arrangements for information exchange and cooperation regarding UK Central Counterparties (CCPs) with significant euro-denominated business. A CCP places itself between the original […]
March saw an overall average asset class sentiment reach a high, according to the monthly Lloyds Bank Private Banking Investor Sentiment Index. With continued improvement in overall asset class sentiment, net sentiment increased for seven of the ten asset classes surveyed with only a modest decline for the other three, leading to its highest overall […]
KPMG has entered into a strategic partnership with UK Trade & Investment (UKTI), which will see the two organisations supporting the growth of UK exports of goods and expertise. Both organisations have signalled an intent to collaborate together offering support to what is a vital part of the UK's economic growth targets. UKTI and KPMG […]
France cut its budget deficit target for 2015 and announced that this year’s economic growth could beat the government’s 1% forecast, as the country posted a smaller than expected fiscal gap for 2014. Statistics office INSEE announced that the budget gap dropped to 4% of economic output in 2014 from 4.1% in 2013, signalling economic […]
The UK’s Office for National Statistics (ONS) today announced that UK consumer price inflation has hit its lowest point since the early 1960's. After a 0.3% reading in January, annual inflation fell further to 0.0% in February. According to the Centre for Economics and Business Research (Cebr), the greatest contributors to the inflationary slowdown were […]
The Financial Conduct Authority has published its Business Plan for 2015/16. The 2015/16 Business Plan will look at sales practices of pension providers and how firms are helping consumers make the right pension choice with the new pension reforms. It will also be considering the mortgage market and any barriers to competition. In 2015/16 the […]
The Bank of New York Mellon has been hit by a $714 million (€660 million) settlement on accusations of FX manipulation, which resulted in it defrauding government pension funds and investors for more than a decade. The settlement is part of a broader deal which will see the bank laying off some employees and reworking […]
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