Finance

China should let banks set up Internet finance units -c.bank researcher

      China’s regulators should draw up clear rules allowing banks to set up online finance subsidiaries to fend off rising competition from technology giants that have expanded into banks’ traditional territory, a senior central bank researcher was quoted saying by a state-run newspaper. Policymakers should encourage financial institutions to be more proactive in areas such as peer-to-peer lending, ... Read More »

The arts, creativity and finance: how will funding evolve?

Martin Smith, special adviser, Ingenious It would be misleading to say that Ingenious finances the arts, although we are major contributors of philanthropic money, time and expertise to arts and education bodies. Primarily we are commercial investors, business builders and business operators, but we do collaborate with arts organisations in many different ways, both financial and non-financial. What we most ... Read More »

Capital Float to finance sellers on ShopClues.com

    Capital Float, a digital financing platform and ShopClues.com, an online marketplace today announced partnership to provide finance to e-commerce sellers across the country through ShopClues’ new financing programme called “Capital Wings”. The initiative will help ShopClues provide its merchants with access to capital, enabling them to increase their turnover on the platform and grow their businesses, Capital Float ... Read More »

Greece has not asked Russian finance ministry for aid – deputy minister

      Greece has not asked Russia’s finance ministry for financial assistance and its prime minister is visiting Russia to discuss joint projects, not to seek cash, Russian Deputy Finance Minister Sergei Storchak said on Thursday. With time running out for Athens to reach a reform-for-aid deal with its international creditors, Greek Prime Minister Alexis Tsipras arrived in St ... Read More »

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 »