Finance

Spotify Names Barry McCarthy Finance Chief

      Music-streaming company Spotify Ltd., fresh from raising overhas hired a new finance chief. Barry McCarthy, a former chief financial officer at Netflix Inc., has joined the company as its CFO, Spotify said Wednesday. Mr. McCarthy, who joined Spotify’s board last year, will give up that seat as he takes the operational role. Spotify has raised more than ... Read More »

India’s economic growth potential higher than 7-7.5 percent – finance minister

    Finance Minister Arun Jaitley said on Thursday that economic reforms in the legislative pipeline can push India’s growth rate above the 7 to 7.5 percent range. India’s economy, Asia’s third largest, is expected to grow 7.5 percent this year, according to the latest World Bank forecast, which would make it the world’s fastest growing economy. The government forecasts ... Read More »

Finance chiefs fail to reach Greek debt deal, call for crisis summit

      A meeting of eurozone finance ministers aimed at hashing out a deal to prevent Greece from defaulting has ended without an agreement, according to a tweet from Valdis Dombrovkis, vice president of the European Commission. The meeting comes amid fears that Greece would be forced to exit the EU if it does not make a payment to ... Read More »

Clean Power Finance to Acquire PPA Portfolio of Kilowatt Financial

      Solar finance platform company Clean Power Finance (CPF) has acquired the solar power-purchase agreement (PPA) business of Kilowatt Financial, according to sources close to the deal. Both privately held firms have received funding from Kleiner Perkins. Last year, Kilowatt Financial channeled $250 million into rooftop solar through Clean Power Finance. But allegiances and business plans are fluid ... Read More »

Trichet objected to burning bondholders, finance official says

Minister for Finance Michael Noonan was forced to delay a Dáil announcement about restructuring the banks because then European Central Bank president Jean Claude Trichet objected to burning bondholders, the banking inquiry has been told. John Moran, former secretary general of the Department of Finance, said the Minister’s announcement in the Dáil in 2011 was delayed because “three or four” ... Read More »

Alibaba Finance Arm Is Valued Above $40 Billion in Latest Funding Round

      Alibaba Group Holding Ltd.’s finance affiliate, which runs China’s biggest online payments business, closed a private placement valuing the unit at more than $40 billion, according to two people familiar with the matter. Zhejiang Ant Small & Micro Financial Services Group Co. also will open an Internet bank, called MYbank, on June 25, the people said, asking ... Read More »