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Forbes Releases Third FinTech 50 List: The Future Of Your Money

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The $8.5 trillion (market cap) U.S. financial services industry is being fundamentally reordered as technology disrupts not only individual behaviors, but also how big banks control risk and hedge funds place their bets. Worldwide, $27.4 billion poured into fintech startups in 2017, up 18% from 2016. With so much action in this industry, it is no surprise that 22 companies are new on this year’s FinTech 50 list. Notable newcomers include: Blend, Chainalysis, Remitly, The Bitfury Group and Enigma. We excluded public companies from our list and c... Read More »

An invitation you’ll want to accept: updates to G Suite meeting room hardware

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Over the past few years, our team has worked diligently to evolve Google Hangouts, create cost-effective, reliable meeting hardware and reimagine how teams brainstorm. Today at ISE, we’re announcing updates to make these meeting solutions even better for enterprises, including: Expanding Jamboard and Hangouts Meet hardware to new countries Adding AI-powered autodraw to improve your jams Offering more Hangouts Meet hardware options for larger rooms Here's what's new. Jamboard updates: EU expansion and adding AI-powered AutoDraw ... Read More »

Nestle sells Crunch, Nerds and other US brands to Ferrero for $2.8bn

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The Swiss food giant said it was offloading brands such as Crunch, Nerds, Runts and Butterfinger to focus on other products. Italy's Ferrero, which makes Nutella spread, Tic Tac and Ferrero Rocher, will become the US's third biggest confectionery maker. The deal is expected to go through by March this year. Ferrero said the brands would give it "substantially greater scale" and "a broader offering of high-quality products" for US customers. Healthy steps? The US confectionary market is the largest in the world, worth about $8bn a year acc... Read More »

Luxury group Kering to spin off Puma to its own shareholders

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Kering said on Thursday it planned to distribute 70 percent of Puma shares to its investors, leaving it with only a 16 percent stake, confirming an exclusive Reuters report. Puma shares were down 4.4 percent at the close as some investors worried about the company losing a powerful backer. Kering stock was down almost 1 percent. The deal comes after a recent turnaround at Puma, which struggled for years following Kering's 5.3 billion euros ($6.4 billion) purchase in 2007. The French firm, meanwhile, has long wanted to focus purely on its hig... Read More »

Toymaker Lego teams up with Chinese internet giant Tencent

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Privately-owned Lego has seen a slowdown in sales growth in recent years, but the Chinese market has been a bright spot with sales growing 25-30 percent in 2016. It is competing with Barbie maker Mattel Inc (MAT.O) and Hasbro (HAS.O), the firm behind My Little Pony, for a slice of the $31 billion toys and games market in China. Lego said on Monday the partnership with Tencent, China’s biggest social network and gaming company, aimed to create a safe online environment covering content, platforms, and experiences tailored for Chinese children... Read More »

Denmark’s Novo Nordisk offers $3.1 billion for Belgian biotech group Ablynx

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Ablynx already rejected an offer by the Danish group on Dec. 14 and Novo Nordisk said the new bid, made on Dec. 22, was some 14 percent higher. The Belgian company was not immediately available for comment on Monday. “Novo Nordisk regrets that the board of directors of Ablynx has so far declined to engage in any discussions, despite the proposals which have been put forward,” it said in a statement. The Danish company said it would pay 28.00 euros per share in cash for Ablynx and an additional 2.50 euros per share if certain conditions re... Read More »

Apple leads race to become world’s first $1tn company

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The race is on to become the world’s first trillion-dollar company, with all eyes fixed on tech giants such as Apple, Amazon, Facebook and Alphabet, the parent company of Google. Financial commentators and investors predict 2018 will herald the first firm with a stock market valuation of $1tn (£738bn) or more, if technology share prices continue to rise as strongly as in 2017. Apple is leading the way, with a market valuation of $869bn on Tuesday, a figure arrived at by multiplying the company’s share price by the number of shares in circ... Read More »

UK bosses are richest in Europe


Research by Vlerick Business School in Belgium found that FTSE 100 chief executives took home pay packages worth 94 times those of their average staff member, despite government attempts to crackdown on ballooning corporate compensation. The school’s analysis, reported by the Financial Times, found that top French and German company chiefs were the only ones who came close to their British peers, earning multiples of 91 and 89 times their average worker. ... Read More »

Which big names in business are 2018’s ones to watch?


Michael O’Leary In 2011, the chief executive of Ryanair, Michael O’Leary, outlined his pitch for one of the most sought-after honours in the world: “There hasn’t been a war in Europe for 50 years, because they’re all too busy flying on Ryanair. I should get the Nobel peace prize – screw Bono.” Shamefully, the Nobel committee continues to overlook O’Leary as a potential laureate, although he is increasingly being recognised in other areas. Having admitted that his company may not always have treated its passengers quite as they hoped, O... Read More »

European Medicines agency will bring jobs, generate millions of euros

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The 890 workers will have an estimated €45m in net salaries to spend and much of that will benefit local shops, service providers, bars and restaurants, ING says. In addition, housing the EMA workers will bring in €10m to €15m while the 30,000 overnight stays which EMA visitors will book will generate €4m for the hotel sector. The Financieele Dagblad says experts suggest the EU agency will provide work for 1,500 people working in catering, cleaning, security, childcare and teaching. In addition, some 200 of the agency’s 890 staff are not exp... Read More »

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