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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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Hilton Grand Vacations Might Experience a Bidding War
Hilton Grand Vacations may soon experience a bidding war from two private equity titans. Apollo Management has reportedly made an offer for the Orlando0based timeshare company. Early reports suggest a price of $40 per share. Its competitor Blackstone may also make an offer for Hilton Grand Vacations.
New International E-Registry of Shipping to Reside on The Blockchain
An advanced new blockchain-based ship registration system is under development.
The Singapore Shipping Association (SSA), the International Chamber of Commerce (ICC) and Singapore tech startup Perlin are jointly going to develop the International E-Registry of Ships. The new blockchain-based ship registration system will streamline, standardise and generally improve the current ship registration and renewal procedure.
French Pension Fund Dodges U.S. Treasury Market
ESG Concerns Shun the World’s Most Liquid Market A French pension fund and several other ESG funds are shunning the U.S. Treasury market. The funds found fault this week with the United States government and listed reasons for divestment. According to Bloomberg, ESG funds at Erste Asset Management, Joh. Berenberg Gossler, and Union Investment are…
The DailyAlts Playbook – October 15, 2019
THE DAILYALTS PLAYBOOK October 15, 2019 Today, the DailyAlts Playbook talks defections at the Libra Association, this very weird venture capital story that involves an actress from the Wonder Years, sacked CEOs, and the CEO that one California resident wants out of the board room. PRIME OVERVIEW Good morning, Global markets are ticking higher on…
Overlay Shares: The Icing on Your Index ETF Cake (Now for Everybody)
Once the preserve of accredited investors and institutions, this suite of Overlay Shares ETFs is now available to the everyday investor. A capital-efficient overlay strategy combines with an underlying core index ETF to generate an additional, incremental, and tax-efficient income stream.
KKR & Co Cuts IPO Price for Latitude Financial
KKR & Co and its investment partners will lower the IPO price for their Australian non-bank lender Latitude Financial. A Reuters report indicates that the private equity giant could drop the price by at least 11%. This is likely a disappointment for KKR & Co. and its partners Deutsche Bank and Varde Partners. This is the second attempt to list Latitude, which was set to go public this week.
JP Morgan: Fund Flows May Point to Higher Recession Risk
JP Morgan suggests that retail investors and consumers are losing confidence in the U.S. economy. The bank cited the outflows of capital from the equity markets and the rush of capital into bonds as a reason. In 2019, $683 billion has moved into bond funds. Meanwhile, stock funds have seen outflows of $177 billion. These figures come from the Investment Company Institute, EPFR, and Bloomberg.
More Defections from the Libra Cryptocurrency Project
The Libra cryptocurrency project has lost another major partner on Monday over regulatory scrutiny around the stablecoin. Today, Booking Holdings – the company behind Priceline, Kayak, and Booking.com – dropped out of the Libra Association.
Two Private Equity Firms Buy Management Services Arm of AECOM
Private equity firms Lindsay Goldberg and American Securities are buying assets from construction giant AECOM. The target company issued a report this morning saying it agreed to a deal worth $2.4 billion for its management services division. That arm of the company provides logistics and technical services to the Federal government.
EY Report Talks Dealmaking in the Year Ahead
The latest EY report on M&A activity for the year ahead reveals interesting technology trends. EY is a leader in assurance, tax, transaction, and advisory services. The company finds that business leaders have altered their portfolios due to a challenging geopolitical environment. However, the firm notes that 52% of global corporate leaders plan to pursue acquisitions in the next year.
Cerberus Buys Closure Systems International from Reynolds Group
Cerberus Capital Management announced that one of its affiliates has entered into a definitive agreement to buy assets from Reynolds Group. The private equity giant will acquire the North American, Costa Rican, and Japanese businesses and related facilities of Closure Systems International.
Climate Change Protests in London: Activists Glue Themselves to BlackRock’s Doors
Climate change activists took on the world’s biggest financial institutions today, specifically BlackRock and the Bank of England, in London. They demanded the cessation of funding of a looming environmental crisis.
Libra Association Dealt A One-Two-Punch: Defections, And Now, The G7
Last week, eBay, Visa, Mastercard, and Stripe followed PayPal out of the Libra Association; now, the G7 warns against digital currencies.
Last week, fears of regulatory uncertainty (and repercussions) probably forced eBay, Visa, Mastercard, and Stripe to depart the Libra Association. They followed on the heels of PayPal, which walked out earlier.
Nubank, the Brazilian Fintech, Hits a Purple Patch
Brazilian fintech startup Nubank has added three million users since August this year.
Speaking at the Brazil Investment Forum in Sao Paulo, Nubank founder and CEO David Vélez said the fintech now had 15 million users.
Temasek Will Sit Out the Saudi Aramco IPO on Environmental Concerns
Singapore’s Temasek Holdings will not invest in Saudi Aramco’s mega-IPO, sources said, according to Bloomberg.
Temasek, which focuses on sustainability and environmental, social and governance principles, will, therefore, be unable to participate in the Saudi Aramco IPO. Moreover, it has a 2030 target to reduce the carbon footprint of its portfolio companies by 50%.
Finmason Clocks Analysis Of 10 Million Portfolios
U.S. based fintech FinMason is the world’s largest independent investment analytics engine for financial services platforms. FinMason announced this week that it had analyzed over 10 million portfolios for clients. The investment analytics provider launched its analytics API service in 2017. The firm directs its service towards WealthTech and FinTech firms. The FinMason API puts…
Madison Dearborn Partners Eyes Eighth Fund, Sets $4.5 Billion Goal
Madison Dearborn Partners, a Chicago-based private equity giant, is launching its eighth fund. The company wants to raise $4.5 billion. The figure would top the $4.4 billion it raised for its a fund just three years ago.
Fidelity Investments Eliminates Commissions
Fidelity Investments announced Thursday that it is eliminating commissions for stock trading. The elimination of commissions will also include exchange-traded funds (ETFs) and options. The firm is the latest in a long line that has cut fees to zero as the discount broker wars continue.
AGF Leverages Its Quants Team to Offer Three Liquid Alternative Funds in Canada
Three new liquid alternative funds from AGF Investments Inc. provide better risk-adjusted returns. AGF has just launched three liquid alt funds in Canada. These are the (AGFiQ) US Market Neutral Anti-Beta CAD-Hedged ETF (QBTL), US Long/Short Dividend Income CAD-Hedged ETF (QUDV) and the US Long/Short Dividend Income CAD-Hedged Fund. “These offerings build on AGF’s long…
Ripple’s Blockchain to Support Finastra’s Cross-Border Payments
Enterprise blockchain provider and payment network Ripple has tied-up with giant fintech Finastra.
The latter’s users can utilize Ripple’s blockchain based network and its RippleNet partners for cross-border payments.
RippleNet, a global blockchain payments network, has over 200 financial institutions as its global partners. These entities will also have access to Finastra’s massive global network of banks.
Bitcoin Options to be Highly Popular with Asian Traders, Miners: CME Group
CME Group’s forthcoming launch of Bitcoin options will likely be lapped up by Asian crypto players.
Asian crypto traders and miners, along with European speculators and hedgers, already account for nearly half of the trading of CME’s bitcoin futures product. Bitcoin options, used along with futures, would allow these players to fine-tune the management of their exposure and risk to the cryptocurrency.
Facebook CEO Mark Zuckerberg Will Testify Before House Financial Services Committee
Facebook CEO Mark Zuckerberg will testify before Congress about his firm’s cryptocurrency project. Zuckerberg will speak before the House financial services committee on the launch of Libra.
Here’s What Negative Interest Rates Would Do to the Community Banking Industry
Negative interest rates have generated a lot of noise in Europe and Asia. What would happen if the Federal Reserve adopted negative interest rates? That was the subject of a report released this week by the Kroll Bond Rating Agency.
Blackstone Sells Last Building from Famous 2007 Real Estate Deal
The Wall Street Journal says that Blackstone has sold the last office building it purchased in 2007. The building was part of their $39 billion purchase of Equity Office Properties Trust. That purchase was the largest real estate deal in history.