Asian markets are wary after Pelosi’s Taiwan trip turbulence
Asian markets had a quieter day on Wednesday after the turmoil caused by US House Speaker Nancy Pelosi’s controversial visit to Taiwan. Investors were in a cautious mood watching developments in Sino-US tensions after China reacted angrily to Pelosi’s trip to Taiwan, while Washington struggled to play down its significance. China condemned the highest-level US visit to Taiwan in 25 years as a threat to peace and stability in the Taiwan Strait, responded with a series of military exercises, called the US ambassador to Beijing and announced the suspension of several agricultural imports from Taiwan. . Read more: China hits…
Read More »Morning Coffee: Bank interns discover that doctors are normal humans. Citi wants bankers to woo young private equity professionals
It’s become a bit of a cliché if you’re a junior banker to look around at the senior staff above you, assess their joie de vivre and then declare that you don’t want to go out like them and you’re on your way. pursue something less rewarding but more likely to result in broad fulfillment and a long marriage. Goldman Sachs VP Nikhil Raithatha he left the company for something similar to this reason last summer. Similarly, when the former Morgan Stanley analyst Florian Koelliker interviewed 15 juniors at major banks for her thesis last year, she found that the…
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RBI’s Financial Inclusion Index indicates growth across all segments
According to data released by RBI, RBI’s Financial Inclusion Index (FI-Index) which measures the amount of financial inclusion across the country stood at 56.4 in March 2022 compared to 53 .9 in March 2021, indicating growth across all segments. The index records data on different facets of financial inclusion in a single value ranging from 0 to 100, where 0 represents total financial exclusion and 100 represents complete financial inclusion. The three general parameters that make up the FI index are access (35%), use (45%) and quality (20%). Each of these parameters consists of several dimensions and is calculated using…
Read More »Parafin Raises $60 Million Led by GIC to Help All Companies Launch Integrated Financial Services for Small Businesses
SAN FRANCISCO–(BUSINESS THREAD)–Parafin, a fintech infrastructure startup that companies like marketplaces, SaaS verticals and payment processors rely on to launch and integrate financial services for their sellers, announced that it has raised a $60 million Series B funding round dollars led by GIC, which brings its total equity financing to $94 million. This round includes participation from new and existing investors, including Series A lead and seed investors Thrive Capital and Ribbit Capital. Today, Parafin powers the integrated capital offerings of companies with over $100 billion in payout volume, including DoorDash Capital and Mindbody Capital. Companies using Parafin together serve…
Read More »Bay Area student gets a head start on financial literacy
It may sound like just a kid’s game, but Saa’Nai Bryant says the financial simulation she was participating in was teaching her one of the most important lessons she’ll ever learn. What you need to know Florida high schools to offer financial literacy courses in 2023-24 school year For 15-year-old Saa’Nai Bryant, this kind of learning is nothing new He said his father was talking about finances and common sense long before the state made it a requirement “Working with this game is like Life and Monopoly together,” he said. “How to save, how to save and then budget.” Most…
Read More »DepEd aims for additional non-financial benefits for teachers │ GMA News Online
The Department of Education will focus on studying possible more non-financial benefits for teachers, its spokesman Michael Poa said on Wednesday. In an interview with ANC, Poa made a correction to his earlier statement that the DepEd will look into non-basic salary benefit allowances they can give to teachers amid calls for a salary hike. “I have to apologize and stand by that. Subsidies are always a possibility in non-salary benefits,” he said. “But in terms of the budget, I mean, this is an ongoing study, so I don’t want to get ahead of the results, but I also think…
Read More »MicroStrategy chief Michael Saylor resigns amid $1.6 billion loss
MicroStrategy Chief Executive Michael Saylor said he would step down from the top job next week and take on the role of executive chairman as his company posted a second-quarter loss of $1.06 billion. Phong Le, the company’s president, will become CEO while maintaining his current roles, MicroStrategy said in a press release. As executive chairman and chairman of the board, Saylor will focus on the company’s long-term corporate strategy and bitcoin acquisitions, the company said. MicroStrategy shares fell 2.6% to $271 in after-hours trading. The management change came after a dismal quarter for the business software company, driven primarily…
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China hits Taiwan with economic sanctions as Pelosi visits
China on Wednesday suspended imports of fruit and fish from Taiwan and halted exports of natural sand to the self-ruled island as it hosted US House Speaker Nancy Pelosi. Customs officials had flagged retaliatory measures earlier Pelosi’s visit suspending since Monday the imports of 35 Taiwanese exporters of biscuits and pasta. China’s commerce ministry said exports of natural sand, widely used in construction and concrete, to Taiwan were suspended as of Wednesday. The move was based on laws and regulations, the ministry said, without elaborating. China also halted imports of citrus, chilled white-striped hairtail and frozen mackerel from Taiwan from…
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