Citi, a US-based financial services company, has merged the wealth management teams of its global consumer banking (GCB) and the institutional clients group (ICG) divisions to form a single, integrated platform called Citi Global Wealth. Citi Global Wealth is a wealth management organization that will serve clients across the wealth continuum, ranging from the affluent […]
US insurance company Coface has closed its acquisition of GIEK Kredittforsikring, a company formed in 2001, and owned by the Norwegian Ministry of Trade, Industry and Fisheries. GIEK Kredittforsikring manages a short-term export credit insurance portfolio. Coface said that the acquired business will operate under the Coface GK brand name. Last year, GIEK Kredittforsikring reported […]
US insurtech company Gradient AI, which uses artificial intelligence-based solutions, has secured $6.0 million in a Series A financing round led by Forte Ventures and Sandbox Insurtech Ventures. The financing round also saw participation from MassMutual Ventures, the company’s existing investor. Gradient AI said that its artificial intelligence solutions enable commercial insurers to automate and […]
Experian, an Irish consumer credit reporting company, acquired Look Who’s Charging, an Australian fintech startup, for an undisclosed sum to strengthen its open data offering. The acquisition was made by its subsidiary Experian Australia & New Zealand. Look Who’s Charging is said to resolve the issue of unrecognized bank transactions by giving clarification on the […]
EDBI, a Singapore government-linked global investor, has made an undisclosed strategic investment in Cityneon Holdings, a creative solutions provider for interior architecture, events and exhibitions. The funding comes close on the heels of investment made by CITIC Capital, an affiliate of CITIC Group, in May 2019. The investment will help Cityneon further expand into new […]
The ride-sharing company Uber has launched special cabs in Bengaluru to assist differently-abled and elderly people, which is a first of its kind initiative in India. This special program called Uber Access and Uber Assist, the cabs come with an in-built ramp and extra legs space for those who use wheel chairs. Uber launched these […]
Uber ban in London : In a massive blow to US-based Uber, the taxi services company’s five-year operating license in London will not be renewed after this month as it has been deemed to be unfit by the Transport for London (TfL). The decision from the Greater London transport regulator puts the future of 40,000 […]
In a massive retail acquisition deal, E-commerce giant Amazon has announced that it will acquire American supermarket chain Whole Foods Market for approximately $13.7 billion. According to the latest retail news, the two parties have signed a definitive merger agreement in this regard with Amazon agreeing to offer $42 per share to the stakeholders of […]
Sirius XM acquisition news : Sirius XM Satellite Radio, world’s largest radio company headquartered in New York City is set to make strategic cash investment of $480 million for a 19% stake in California-based Pandora Internet Radio. The move from Sirius XM is to make an impression in the ad-supported digital radio business. Under the […]
Indian e wallet service provider, Paytm has secured an investment of $1.4 billion from Japanese internet and telecom major giant SoftBank Group. The investment which was made in the Paytm owner company, One97 Communications marks the largest round of funding from a single investor in India. SoftBank investment in Paytm values the Indian mobile payment […]