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3D printed Facebook and Twitter logos are placed on a computer motherboard in this illustration taken Jan. 21, 2021. Twitter, Amazon, Facebook, WhatsApp and India's Ministry of Electronics and Information Technology did not respond to requests for comment. To attract small businesses through WhatsApp, Facebook last year invested $5.7 billion in Reliance Industries Ltd's (RELI.NS) media and telecommunications arm, Jio Platforms. A border confrontation with China prompted it to effectively ban Chinese social media apps, including TikTok and WeChat. WhatsApp has gone to court rather than comply with a new law requiring social media firms to trace the origin of dangerous or criminal posts on their platforms.
Persons: Dado Ruvic, Narendra Modi, Amazon, WhatsApp, Ravi Shankar Prasad, Prasad Organizations: REUTERS, U.S, Twitter Inc, Twitter, Inc, Facebook Inc, Facebook, Police, Amazon, India's Ministry of Electronics, Information Technology, Reliance Industries, Google, Mastercard Inc, Competition Commission, Thomson Locations: India, China, U.S, Statista, WhatsApp, America, That's
REUTERS/Brendan McDermid/File PhotoBack-to-school sales at U.S. department stores are expected to jump about 25% from last year, as parents splurge on apparel, supplies and electronics for the new academic year when many kids return to classrooms, an industry report showed on Thursday. Sales at department stores this back-to-school season, which runs mid-July through early-September, are forecast to surge 25.3% from a year earlier, and 9.5% over 2019, according to Mastercard Inc SpendingPulse data. Total retail sales, excluding auto and gas, are projected to rise 5.5%. The pandemic pushed department stores, such as Macy's (M.N) and Kohl's (KSS.N), to sell largely online and streamline their businesses at a time they were already facing intense competition and a shift in consumer preference. On Wednesday, The National Retail Federation raised its growth forecast for 2021 U.S. retail sales as the economy reopens faster than predicted.
Persons: Brendan McDermid, Mastercard Steve Sadove Organizations: REUTERS, U.S, Mastercard Inc, Mastercard, Apparel, Electronics, National Retail Federation, Thomson Locations: New York, P.S, Brooklyn , New York, U.S
Bitcoin, Other Crypto Assets Targeted for Stiff Banking Regulation
  + stars: | 2021-06-10 | by ( Simon Clark | ) www.wsj.com + 0.94   time to read: +1 min
The top global standard setter for banking regulation proposed a strict new rule that would require banks to essentially set aside a dollar in reserves for every dollar of bitcoin they own. The Basel Committee for Banking Supervision, a group of global central bankers and regulators, announced the plan Thursday in a public consultation about how it intends to treat cryptocurrency assets, which it said had prompted concerns about consumer protection, money laundering and terrorist financing. “Certain cryptoassets have exhibited a high degree of volatility, and could present risks for banks as exposures increase,” the Basel, Switzerland-based committee said in a statement. Mastercard Inc. has said it plans to support some cryptocurrencies on its network and Bank of New York Mellon Corp. has invested in a cryptocurrency startup. The committee, which includes the Federal Reserve, European Central Bank and other major central banks, doesn’t enforce rules itself but sets minimum standards that regulators around the world agree upon and implement locally.
Organizations: Committee, Banking Supervision, Mastercard Inc, Bank of New York Mellon Corp, Federal Reserve, European Central Bank Locations: Basel, Switzerland
Diageo pulls out of sponsoring Copa America soccer tournament
  + stars: | 2021-06-10 | by ( ) www.reuters.com sentiment -1.00   time to read: +2 min
REUTERS/Shamil Zhumatov/File PhotoAlcoholic beverage company Diageo Plc (DGE.L) on Thursday joined other major sponsors pulling out of the Copa America after players criticized organizers for moving the soccer tournament to Brazil despite one of the world's worst COVID-19 outbreaks. Mastercard Inc (MA.N) and drinks company Ambev backed away from the Copa America on Wednesday. The Brazilian soccer team cited "humanitarian" concerns in a statement criticizing the organization of the Copa America on Wednesday, but they committed to participating in the tournament after rumors of a potential boycott. read moreMastercard Inc (MA.N) said it decided not to "activate" its sponsorship of Copa America in Brazil, meaning it will temporarily remove its branding from the event it has sponsored since 1992. Ambev SA (ABEV3.SA), a unit of brewer AB InBev (ABI.BR) sponsoring both the tournament and the Brazilian national team, said "its brands will not be present at the Copa America."
Persons: Johnnie Walker, Shamil Zhumatov, Ambev, Jair Bolsonaro, lockdowns Organizations: REUTERS, Diageo Plc, Copa America, Mastercard Inc, Wednesday, Diageo Brasil, South American Football Confederation, Ambev SA, InBev, Brazilian national, Thomson Locations: Almaty, Kazakhstan, Brazil, Colombia, Argentina, COVID, United States, Brazilian
Mastercard removes its brand from Copa America - reports
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
FILE PHOTO: A Mastercard logo is seen on a credit card in this picture illustration August 30, 2017. REUTERS/Thomas White//File PhotoSAO PAULO (Reuters) - Mastercard Inc has decided to temporarily remove its brands from Copa America in Brazil, although the payments company remains a sponsor of the soccer tournament, Brazilian media outlets reported on Wednesday. The move comes as Copa America is facing criticism as it was moved to Brazil, despite it having the world’s third worst outbreak of coronavirus outside the United States and India and the second-deadliest. In a statement sent to newspaper Folha de S. Paulo, Mastercard said it has decided not to “activate” its sponsorship of Copa America in Brazil. Mastercard did not immediately respond to a Reuters request for comment on the matter.
Persons: Thomas White Organizations: REUTERS, SAO PAULO, Reuters, Mastercard Inc, Copa America, Folha, Paulo, Mastercard Locations: Brazil, United States, India
Mastercard removes its brand from Copa America
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
FILE PHOTO: A Mastercard logo is seen on a credit card in this picture illustration August 30, 2017. REUTERS/Thomas White//File PhotoSAO PAULO (Reuters) -Mastercard Inc has decided to temporarily remove its brands from Copa America in Brazil, although the payments company remains a sponsor of the soccer tournament, it said on Wednesday. The move comes as Copa America is facing criticism as it was moved to Brazil, despite it having the world’s third worst outbreak of coronavirus outside the United States and India and the second deadliest. In a statement sent to Reuters, Mastercard said it has decided not to “activate” its sponsorship of Copa America in Brazil after a cautious analysis.
Persons: Thomas White Organizations: REUTERS, SAO PAULO, Reuters, Mastercard Inc, Copa America, Mastercard Locations: Brazil, United States, India
Mastercard drops branding from Copa America amid COVID concerns
  + stars: | 2021-06-09 | by ( Carolina Mandl | ) www.reuters.com sentiment -1.00   time to read: +1 min
FILE PHOTO: A Mastercard logo is seen on a credit card in this picture illustration August 30, 2017. REUTERS/Thomas White//File PhotoSAO PAULO (Reuters) - Mastercard Inc has decided to temporarily remove its branding from the Copa America amid criticism over a last-minute decision to host the soccer tournament in Brazil, which is struggling with one of the world’s worst COVID-19 outbreaks. In a statement to Reuters on Wednesday, Mastercard said it has decided not to “activate” its sponsorship of Copa America in Brazil after a thorough analysis. More than 475,000 Brazilians have died from COVID-19, the world’s worst official death toll outside the United States, and experts warn of a third wave approaching along with winter in the southern hemisphere. The Brazilian soccer team cited “humanitarian” concerns in a statement criticizing the organization of the Copa America on Wednesday, but they committed to participating in the tournament after rumours of a potential boycott.
Persons: Thomas White, Jair Bolsonaro, lockdowns Organizations: REUTERS, SAO PAULO, Reuters, Mastercard Inc, Copa, Wednesday, Mastercard, Copa America Locations: Brazil, Colombia, Argentina, COVID, United States, Brazilian
Payment company DLocal raises $617.65 million in U.S. IPO
  + stars: | 2021-06-03 | by ( Echo Wang | ) www.reuters.com sentiment -0.51   time to read: +1 min
Uruguayan payment startup DLocal (DLO.O) said on Wednesday it raised $617.65 million in its initial public offering. DLocal priced 29.4 million shares at $21 per share, the company said, above its indicated $16-$18 range. Of the shares sold, around 4.4 million were by DLocal and 25 million by current investors. The company's debut comes amid a flurry of payment companies that went public this year. J.P. Morgan, Goldman Sachs, Citigroup and Morgan Stanley are the lead underwriters for the IPO.
Persons: Didi, J.P, Morgan, Goldman Sachs, Morgan Stanley Organizations: Paymentus Holdings, Flywire Corp, Atlantic, Mastercard Inc, Amazon.com Inc, Spotify Technology SA, Nasdaq, Citigroup, underwriters, Thomson
WASHINGTON (Reuters) - Vice President Kamala Harris’ first trip to Guatemala and Mexico, which aims to lower migration from the region, will focus on areas such as economic development, climate and food insecurity and women’s issues, her advisers said. FILE PHOTO: Vice President Kamala Harris attends a meeting with CEOs from companies that are engaged with the Northern Triangle in Washington U.S., May 27, 2021. Harris will build on topics previously discussed with leaders in Guatemala and Mexico such as securing the border and leading trade missions to the region, her advisers said. In March, Biden entrusted Harris with leading U.S. efforts with Mexico and the Northern Triangle countries of Honduras, Guatemala and El Salvador aimed at improving conditions and lowering migration from the region. Harris has since taken steps including speaking with policy experts, members of Congress and various stakeholders in the Northern Triangle countries.
Persons: Kamala Harris ’, Kamala Harris, Carlos Barria, Harris, Symone Sanders, Sanders, , Joe Biden, Biden, Mazin Alfaqih Organizations: WASHINGTON, Northern, REUTERS, Central American, Biden, Northern Triangle, Microsoft Corp, Mastercard Inc, Trump, Central Locations: Guatemala, Mexico, Washington U.S, Washington, El Salvador, Honduras, United States, U.S, Central America, Central American
Biden Administration Taps Private Sector to Invest in Central America
  + stars: | 2021-05-27 | by ( Tarini Parti | ) www.wsj.com + 0.62   time to read: +1 min
Vice President Kamala Harris on Thursday will unveil the agreements of 12 companies and organizations to invest in Guatemala, Honduras and El Salvador as part of the administration’s efforts to deal with a surge of migrants from Central America at the U.S. southern border. The yogurt maker Chobani has agreed to bring its incubator program for local entrepreneurs to Guatemala. Nespresso, a unit of Nestlé SA, plans to begin buying some of its coffee from El Salvador and Honduras with a minimum regional investment of $150 million by 2025. Democratic and Republican administrations have struggled to find long-term solutions to handling surges in migrants from Central America, many of whom say they are driven by poverty and violence in their home countries. The region was hit hard last year by two disastrous hurricanes.
Persons: Kamala Harris, Chobani Organizations: Central America, Microsoft Corp, Mastercard Inc, Nestlé SA, Democratic, Republican, Biden Locations: Guatemala, Honduras, El Salvador, Central, U.S, Nespresso, Central America
Bill Ackman, CEOs and Artists Headline WSJ’s Future of Everything Festival
  + stars: | 2021-05-12 | by ( Wsj Staff | ) www.wsj.com sentiment -0.91   time to read: +1 min
The second day of The Wall Street Journal’s virtual The Future of Everything Festival continues with top executives, artists and regulators set to discuss the next chapter of work, technology, finance and corporate culture. Here is a rundown of the day’s interviews:Investor Bill Ackman kicks off the day at 10 a.m. Mr. Ackman is followed by Hester Peirce, a Republican member of the Securities and Exchange Commission, who will discuss the latest outlook for cryptocurrency regulation. The festival then features conversations on the future of tech platforms and digital payments. After that discussion, the program shifts to digital payments with Mastercard Inc. CEO Michael Miebach on the company’s push beyond its legacy credit-card business to its embrace of cryptocurrencies.
Persons: Bill Ackman, Ackman, Hester Peirce, David Baszuckispeaks, Michael Miebach Organizations: Everything, Republican, Securities and Exchange Commission, Roblox Corp, Mastercard Inc
Green Dot joins corporate exodus from California as fintech firm moves to Austin
  + stars: | 2021-05-07 | by ( Hugh Son | ) www.cnbc.com sentiment -0.93   time to read: +2 min
Packages containing a Green Dot Corp. prepaid Mastercard Inc. debit card and Visa Inc. debit card, left, are arranged for a photograph in Washington, D.C., U.S., on Thursday, Feb. 15, 2018. Green Dot, a fintech firm and biggest U.S. provider of prepaid debit cards, is moving its headquarters from Pasadena, California to Austin, Texas, CNBC has learned exclusively. The move follows the departures announced last year of technology giants including Oracle, Palantir and Hewlett-Packard Enterprise. Some companies, in particular tech firms, have embraced the shift to remote working forced by the coronavirus pandemic, and that's reduced the need to maintain large headquarters in expensive cities. But the firm will maintain a presence in Pasadena as it expects many of its employees to remain there, he said.
Persons: that's, Dan Henry, Henry, I'm, Jamie Dimon, JPMorgan Chase, Green Dot Organizations: Dot Corp, Mastercard Inc, Visa Inc, Washington , D.C, U.S, CNBC, Oracle, Palantir, Hewlett, Packard Enterprise, JPMorgan Locations: Washington ,, California, Pasadena , California, Austin , Texas, Texas, Florida , Ohio, Pasadena, U.S, China
REUTERS/Shannon StapletonNasdaq futures jumped 1% on Thursday after stellar earnings from Apple and Facebook powered a rally in tech stocks, while investors parsed another barrage of quarterly reports ahead of GDP numbers and jobless claims data. More earnings reports from Dow components rolled in, with Caterpillar Inc (CAT.N) rising 2.8% after the heavy equipment maker reported a rise in adjusted first-quarter profit. Drugmaker Merck & Co Inc (MRK.N), however, slid 3.2% on posting a 1.2% fall in quarterly profit. ET, Dow e-minis were up 177 points, or 0.52%, S&P 500 e-minis were up 30.25 points, or 0.72%, and Nasdaq 100 e-minis were up 138.75 points, or 1%. read moreAmazon.com Inc (AMZN.O), Twitter Inc , Mastercard Inc (MA.N) and Gilead Sciences Inc (GILD.O) are also expected to report first-quarter earnings later in the day.
Persons: Shannon, Drugmaker, Joe Biden, Jerome Powell, Nikola Corp Organizations: New York Stock Exchange, REUTERS, Shannon Stapleton Nasdaq, Apple, Facebook, Apple Inc, Microsoft Corp, Inc, Netflix Inc, Commerce Department, Dow, Caterpillar Inc, Drugmaker Merck, Co Inc, Federal Reserve, Dow e, Nasdaq, Tesla Inc, Nikola, International Energy Agency, Twitter Inc, Mastercard Inc, Gilead Sciences Inc, Thomson Locations: New York City, U.S, Gilead
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) * Futures up: Dow 0.52%, S&P 0.72%, Nasdaq 1.00%April 29 (Reuters) - Nasdaq futures jumped 1% on Thursday after stellar earnings from Apple and Facebook powered a rally in tech stocks, while investors parsed another barrage of quarterly reports ahead of GDP numbers and jobless claims data. More earnings reports from Dow components rolled in, with Caterpillar Inc rising 2.8% after the heavy equipment maker reported a rise in adjusted first-quarter profit. ET, Dow e-minis were up 177 points, or 0.52%, S&P 500 e-minis were up 30.25 points, or 0.72%, and Nasdaq 100 e-minis were up 138.75 points, or 1%. Amazon.com Inc, Twitter Inc, Mastercard Inc and Gilead Sciences Inc are also expected to report first-quarter earnings later in the day.
Persons: Drugmaker, Joe Biden, Jerome Powell, Nikola Corp, Shivani Kumaresan, Shreyashi Sanyal, Saumyadeb Chakrabarty Organizations: Dow, Nasdaq, Apple, Facebook, Apple Inc, Facebook Inc, Microsoft Corp, Inc, Netflix Inc, Commerce Department, Caterpillar Inc, Drugmaker Merck, Co Inc, Global, Federal Reserve, Dow e, Tesla Inc, Nikola, International Energy Agency, Amazon.com Inc, Twitter Inc, Mastercard Inc, Gilead Sciences Inc Locations: U.S, Bengaluru
LONDON, April 27 (Reuters) - Mastercard Inc and U.S. cryptocurrency exchange Gemini will launch the first credit card that gives users digital currency “rewards” on purchases this year, deepening the involvement of major payment firms in the emerging asset class. Users of the card will from this summer receive up to 3% in bitcoin or other cryptocurrencies on their purchases, the companies said in a statement, with the digital currency deposited in the cardholder’s Gemini account. The card will be issued by WebBank, a Utah-based digital lender. Payment giants from Mastercard and Visa Inc to PayPal Holdings Inc have stepped up their engagement with cryptocurrencies in recent months, as larger investors and companies warm to bitcoin and its kin. The card will be available in the United States.
Persons: WebBank, cryptocurrencies, Raj Dhamodharan Organizations: Mastercard Inc, Gemini, Mastercard, Visa Inc, PayPal Holdings Inc, Visa Locations: bitcoin, Utah, United States
Mastercard to buy digital ID verification firm Ekata in $850 mln deal
  + stars: | 2021-04-19 | by ( ) www.reuters.com + 0.97   time to read: +2 min
REUTERS/Benoit Tessier/Illustration/File PhotoMastercard Inc (MA.N) said on Monday it had agreed to buy digital identity verification company Ekata in a deal valued at $850 million, as the global payments processor bets on a boom in demand for companies in the digital security space. Ekata's products allow businesses to separate fraudsters from legitimate customers during digital interactions like opening an online account or making digital payments. "The acceleration of online transactions has thrust global digital identity verification to the forefront as one of the biggest opportunities to build digital trust and combat global fraud," said Rob Eleveld, chief executive officer of Ekata, in a statement. Seattle-headquartered Ekata counts more than 2,000 companies as its partners, including credit reporting company Equifax Inc (EFX.N) and software firm Intuit Inc (INTU.O), its website showed. Its products, which include Ekata Identity Graph and Ekata Identity Network, allow companies to combat online fraud, it said.
Persons: Benoit Tessier, Rob Eleveld, Ekata Organizations: Mastercard Inc, REUTERS, Mastercard, Equifax Inc, Intuit Inc, Identity, Uber Technologies, Thomson Locations: Seattle
NATO Wargame Examines Cyber Risk to Financial System
  + stars: | 2021-04-15 | by ( James Rundle | ) www.wsj.com + 0.00   time to read: +5 min
The North Atlantic Treaty Organization is running its annual Locked Shields exercise from April 13 to April 16 through its Estonia-based Cooperative Cyber Defence Centre of Excellence. The wargame includes scenarios exploring how widespread attacks on a fictional nation’s infrastructure might strike at activities critical to keeping the global financial system functioning, such as payments and settlement operations. NATO has held Locked Shields since 2010, usually as live exercises in Tallinn, Estonia. Due to the pandemic, the wargame is being held remotely, a format making this year’s drill the largest global exercise of its kind, according to NATO. In addition to scenarios involving the financial sector, Locked Shields participants must also react to wider events happening at the same time.
Persons: cyberattacks, Ron Green, Green, Mr, Shields, , ” Mr, Teresa Walsh, Ms, Walsh, they’ve, , James Rundle Organizations: Atlantic Treaty Organization, Cyber Defence, of Excellence, Federal Reserve Bank of New York, for International Settlements, NatWest Group PLC, Mastercard Inc, Financial Services, Swiss Computer, Cert, NATO, Mastercard, Securities Industry, Markets Locations: Estonia, Belgium, Tallinn, james.rundle
(Reuters) - Blockchain technology firm ConsenSys said on Tuesday it had raised $65 million from major banks and financial services firms including J.P. Morgan, Mastercard Inc and UBS Group AG to fund its growth and global expansion. Since then, banks and other large corporations have been investing millions of dollars to develop and test a range of business applications using blockchain. Brooklyn-based ConsenSys is a prominent blockchain startup that grew rapidly during the 2017 crypto bubble. ConsenSys’ protocols group is also building Central Bank Digital Currencies for six central banks, the company said. Other investors who participated in the funding round include blockchain companies Protocol Labs, the Maker Foundation, Fenbushi and The LAO.
Persons: ConsenSys, Morgan, Joe Lubin, Young Organizations: Reuters, J.P, Mastercard Inc, UBS Group AG, BNY Mellon, BlackRock Inc, ethereum, Microsoft Corp, Amazon Web Services, Ernst, Procter, Gamble Co, Central Bank, Labs, Maker Foundation Locations: ConsenSys . Brooklyn
Bitcoin hits record high of $62,575
  + stars: | 2021-04-13 | by ( Reuters Staff | ) www.reuters.com + 0.93   time to read: 1 min
FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoLONDON (Reuters) - Bitcoin hit a record of $62,575 on Tuesday, extending its 2021 rally to new heights. The world’s biggest cryptocurrency has more than doubled in price this year amid growing mainstream acceptance as an investment and a means of payment, and as investors seek high-yielding assets amid low interest rates. Major firms including BNY Mellon, Mastercard Inc and Tesla Inc are among those to have embraced or invested in cryptocurrencies.
Persons: Dado Ruvic, BNY Mellon Organizations: REUTERS, BNY, Mastercard Inc, Tesla Locations: cryptocurrencies
Bitcoin hits record high before landmark Coinbase IPO
  + stars: | 2021-04-13 | by ( Reuters Staff | ) www.reuters.com + 0.94   time to read: +1 min
FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoLONDON (Reuters) -Bitcoin hit a record of $62,741 on Tuesday, extending its 2021 rally to new heights a day ahead of Coinbase’s initial public offering. The largest U.S. cryptocurrency exchange’s listing on the Nasdaq on Wednesday is considered a landmark victory for cryptocurrency advocates. Bitcoin topped $60,000 early last month, fuelled by Tesla’s move to buy $1.5 billion of the digital currency for its balance sheet. “During this most recent period have witnessed a similar profit-taking round, which now looks to have run its course.”The multi-fold rise in cryptocurrencies is also driven by investors seeking high-yielding assets amid low interest rates.
Persons: Dado Ruvic, Ethereum, BNY Mellon, Bitcoin, , James Butterfill, CoinShares Organizations: REUTERS, Nasdaq, BNY, Mastercard Inc, Tesla Locations: U.S, cryptocurrencies
Bitcoin hits record before landmark Coinbase listing on Nasdaq
  + stars: | 2021-04-13 | by ( Reuters Staff | ) www.reuters.com sentiment -0.89   time to read: +1 min
FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoLONDON (Reuters) -Bitcoin hit a record of $62,741 on Tuesday, extending its 2021 rally to new heights a day before the listing of Coinbase shares in the United States. The largest U.S. cryptocurrency exchange’s listing on the Nasdaq on Wednesday is considered a landmark victory for cryptocurrency advocates. “When bitcoin markets create new highs the price often range-trades and we witness a round of profit-taking,” said James Butterfill of digital asset manager CoinShares. However, the meteoric rise of bitcoin, which traded at a few hundred dollars only five years earlier, has led major investment banks to warn of a speculative bubble.
Persons: Dado Ruvic, Ethereum, BNY Mellon, Bitcoin, , James Butterfill, CoinShares Organizations: REUTERS, Nasdaq, BNY, Mastercard Inc, Tesla, BofA, Deutsche Bank Locations: United States, U.S, cryptocurrencies
Bitcoin above $60,000 again on talk of reduced supply
  + stars: | 2021-04-11 | by ( Reuters Staff | ) www.reuters.com sentiment -0.98   time to read: +2 min
A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration(Reuters) -Bitcoin rose above $60,000 to approach record highs on the weekend, breaking out of a two-week tight range and propelled by talk of constrained new supplies against evidence of wider adoption. Bitcoin (BTC) is up 116% from the year’s low of $27,734 on Jan. 4. It soared this year as major firms, such as BNY Mellon, asset manager BlackRock Inc, credit card giant Mastercard Inc, backed cryptocurrencies, while those such as Tesla Inc Square Inc and MicroStrategy Inc invested in bitcoin. Big U.S. banks such as Morgan Stanley are also seeking to offer wealth management clients access to bitcoin funds.
Persons: Dado Ruvic, Joe Biden, Justin d’Anethan, , Bitcoin’s, BNY Mellon, Morgan Stanley Organizations: REUTERS, U.S, BTC, BlackRock Inc, Mastercard Inc, Tesla, Inc, MicroStrategy Inc Locations: Hong Kong, bitcoin . Big U.S
Exclusive: Brazilian payments network Elo picks banks for IPO - sources
  + stars: | 2021-04-08 | by ( Carolina Mandl | ) www.reuters.com sentiment -1.00   time to read: +2 min
SAO PAULO (Reuters) - Brazilian payments firm Elo has chosen six banks to manage its initial public offering, four sources close to the matter said, in the first concrete sign it is proceeding with a move first proposed by shareholders in August. Elo plans to use some of the IPO proceeds to increase its network of issuers. No final decision on a U.S. listing has yet been made, but if it proceeds, Elo would probably also list its Brazilian Depositary Receipts on Sao Paulo bourse B3 SA. More domestic banks may still join the deal, two of the sources said, asking for anonymity to disclose private talks. Elo, which posted net income of 838 million reais ($149.8 million) last year, ended 2020 with 1.5 billion reais in cash.
Persons: Shannon Stapleton, Morgan Stanley, Goldman Sachs Organizations: SAO PAULO, Reuters, Nasdaq, REUTERS, Visa Inc, Mastercard Inc, XP Inc, StoneCo Ltd, Elo, JPMorgan, Co, underwriters, Banco Bradesco SA, Banco, Brasil SA, Caixa Economica Federal, Brasil, Caixa, Sao Paulo bourse B3 Locations: Manhattan, New York City, U.S, Europe, Mexico, Canada, Brazil
FILE PHOTO: A Bank of America sign is shown on a building in downtown Los Angeles, California January 15, 2014. REUTERS/Mike Blake/File Photo(Reuters) - Bank of America said on Thursday it will deploy $1 trillion for its environmental business initiative to push for green finance by 2030, expanding on the $300 billion it had announced for the same project in 2019. The second largest U.S. bank said the latest announcement puts its total commitment to sustainable finance by 2030 at $1.5 trillion. The initiative will help the bank’s push for a greener economy through lending, capital raising, advisory and investment services to help low-carbon and other sustainable businesses, Bank of America said. In February, Bank of America said here it would target net-zero greenhouse gas emissions before 2050.
Persons: Mike Blake Organizations: of America, REUTERS, Bank of America, Mastercard Inc, Citigroup Inc Locations: Los Angeles , California, U.S
(Reuters) - SoftBank Group Corp’s Vision Fund 2 and private equity firm Tiger Global Management have invested in Redis Labs, a real-time cloud analytics platform provider, in a late-stage funding round valuing the firm at over $2 billion. Founded in 2011 by Ofer Bengal and Yiftach Shoolman in Tel Aviv, Israel, Redis Labs’ platform helps organizations process, analyze and forecast data effectively. The company has an alliance with Microsoft to bring its Redis Enterprise-powered tiers to Azure Cache for Redis. “As workloads increasingly move to the cloud, we believe Redis Labs is a leader who is transforming the database market,” said Vikas Parekh, Partner at SoftBank Investment Advisers. Earlier on Wednesday, SoftBank Vision Fund 2 also led a $640 million funding round for image recognition technology firm Trax along with BlackRock Inc.
Persons: TCV, Goldman Sachs, Ofer Bengal, Yiftach, workloads, , Vikas Parekh, Japan’s SoftBank Organizations: Reuters, Vision, Tiger Global Management, Redis Labs, Bain Capital Ventures, Francisco Partners, Goldman, Viola Ventures, Dell Technologies Capital, Labs, MasterCard Inc, Dell Technologies Inc, Fiserv Inc, Home Depot Inc, Microsoft Corp, Redis, Microsoft, SoftBank Investment, Invitae Corp, Facebook, BlackRock Inc Locations: Tel Aviv, Israel, View , California
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