Author: News Desk

Euronext, the pan-European market infrastructure, has unveiled a share repurchase program as part of its strategic financial move driven by robust cash generation. With a maximum allocation of €200 million, this program underscores Euronext’s commitment to a disciplined capital allocation strategy while ensuring its deleveraging path and credit rating remain unaffected. Scheduled to kick off on July 31, 2023, and extend for up to a year, the share repurchase program will take place on Euronext Paris. The primary objective is to reduce Euronext’s share capital by canceling all repurchased shares. Euronext has introduced this program with the primary goal of…

In 2023, the SIX Swiss Exchange reported a decline in trading turnover, with figures dropping from CHF 1,208.1 billion the previous year to CHF 1,046.3 billion. This downturn in trading activity was underscored by a decrease in transaction volumes, which totaled 46,094,349 compared to the previous year’s 60,810,665, according to a statement released on Wednesday. Despite this overall decline, the exchange saw the listing of ten companies, contributing approximately CHF 2.2 billion in transaction volume. The listing of Sandoz, a spin-off from Novartis, was a noteworthy event with a market capitalization of around CHF 10.5 billion. Another notable addition was…

Wirex has taken a significant stride in bolstering its online security measures by incorporating ZeroFox’s advanced monitoring tools. These tools are specifically designed to counteract the ever-growing threats emerging from dark web activities and money mule accounts. The collaborative effort harnesses both human and artificial intelligence to proactively scan the dark web for potential hazards, including leaked data and counterfeit credentials. Pavel Matveev, CEO and Co-Founder of Wirex, emphasized the importance of this strategic move, stating, “It is a significant step forward in our continuous commitment to improving online security. The cutting-edge technology offered by ZeroFox has played a crucial…

Goldman Sachs is reportedly considering becoming an authorized participant for proposed spot Bitcoin exchange-traded funds (ETFs) by BlackRock and Grayscale, according to sources cited by Coindesk. This potential move marks a notable departure from the traditional stance of major US banks, which have typically avoided direct involvement in cryptocurrencies. The involvement of Goldman Sachs places them in a group of financial giants, including JPMorgan Chase, Jane Street, and Cantor Fitzgerald, who are exploring participation in the highly anticipated spot Bitcoin ETFs. The entry of these financial behemoths into the world of spot Bitcoin ETFs signals a changing landscape that could…

BP Marsh & Partners PLC has announced its recent acquisition of a 30% stake in Ai Marine Risk Ltd, a managing general agency based in London. As a venture capital investor situated in London, BP Marsh primarily supports financial services companies, and this strategic investment aligns with its portfolio expansion. In this transaction, BP Marsh has committed to providing Ai Marine Risk with up to GBP1.6 million in funding. This financial support will come in the form of a combination of equity and a loan facility. The utilization of these funds will occur in stages, with a portion being drawn…

Getech made an exciting announcement on Wednesday, revealing that it had secured eight new contracts with a combined value of £1.8 million. These contracts encompass various services, including subscriptions to their Globe platform, geoscience data services, and the acquisition of expert consulting services. For the 2023 financial year, Getech anticipates generating approximately £0.6 million in revenue from these contracts. As a result, the company projects its unaudited revenue for the year ending December 31 to reach £4 million. The remaining £1.2 million from these contracts will be added to the existing order book, which amounted to £4.6 million as of…

Last month, major online travel agents, including Booking.com, ceased offering Ryanair flights. This decision was seen as a response to Ryanair’s ongoing efforts to combat screen-scraping and unauthorized reselling of its flights by online travel agents. As a result, Ryanair expects a slight decrease in its load factors, ranging from 1% to 2% for December and January. Nonetheless, the airline remains confident that this action will not significantly impact its full-year passenger traffic or expected profit after tax. Ryanair plans to counter this move by reducing its fares, aiming to encourage passengers to book tickets directly through its website, Ryanair.com.…

In a recent turn of events, Yearn Finance, a decentralized finance (DeFi) protocol, found itself grappling with a significant setback due to a malfunctioning script that inadvertently caused the swapping of 63% of its treasury holdings. The incident unfolded during a routine token conversion process, affecting Yearn Finance’s protocol-owned liquidity (POL) but thankfully leaving user funds untouched. The primary cause of the incident was a faulty multisig script, as documented in a GitHub post. This script triggered the swap of the entire treasury balance, consisting of 3,794,894 lp-yCRVv2 tokens. Importantly, this mishap solely impacted protocol-owned liquidity (POL), assuring users that…

The Finance Magnates London Summit 2023 featured an enlightening fireside chat that illuminated the rapidly evolving landscape of financial technology. Two prominent experts in the field, Sandra Mianda, the Founder and CEO of Paypr.work, and David Tirando Blanco, the VP at Revolut, engaged in a thought-provoking discussion, providing valuable insights into the past, present, and future of digital wallets. Sandra Mianda commenced the dialogue by emphasizing the remarkable growth of digital wallets, a phenomenon set to exceed 4.4 billion users worldwide by 2025. She went on to predict an even more astounding figure for 2030, with digital wallets projected to…

Bitcoin experienced a remarkable surge on Monday, crossing the $45,000 threshold, marking its highest value in nearly 21 months. This price surge is part of the ongoing rally in the world of cryptocurrencies as we step into the year 2024. According to data from CoinDesk, the world’s largest cryptocurrency reached an intra-day peak of $45,519.52 around 10:30 p.m. ET on Monday. This is the highest level it has reached since April 5, 2022, and the first time it has exceeded the $45,000 mark since then. In early trading on Tuesday, Bitcoin extended its rally, touching an intra-day high of $45,913…