September 28, 2023
Bright Money, which allows users to reduce debt, has raised $12 million in an equity funding round led by existing investors Alpha Wave, Hummingbird VC and Peak XV Partners. As part of the funding, the consumer fintech startup has also raised $50 million in debt from speciality finance company Encina Lender Finance. Elevate Your Tech
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ChatGPT maker OpenAI is talking to investors about a possible sale of existing shares at a much higher valuation from a few months ago, according to two sources familiar with the matter. The proposed deal could value Microsoft-backed OpenAI at between $80 billion to $90 billion, according to the Wall Street Journal, which first reported
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The Bank of England will announce its latest interest rate decision at midday, and it is a finely balanced one. Until yesterday morning, the consensus among economists and investors was that the Bank would go for another 25 basis point rise, to 5.25 per cent. But the inflation figures announced on Wednesday have thrown a
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Receive free US interest rates updates We’ll send you a myFT Daily Digest email rounding up the latest US interest rates news every morning. The US Federal Reserve will defy investors’ expectations and raise interest rates by at least another quarter-point, according to a majority of leading academic economists polled by the Financial Times. More
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The top search suggestions on YouTube for videos with the prompt “Chinese economy” include: “is about to collapse”, “is 60 [per cent] smaller than we thought”, and, simply, “is done”. China-bound investors using the site to do some due diligence would be overwhelmed by bearish views and have to look hard for a bull. The
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FINANCIAL technology (fintech) firm Bayani Pay Inc. announced last Wednesday it has expanded its seed-round funding to $6.6 million with the fresh infusion of $2.1 million from its existing investors. In a roundtable discussion on September 13, Bayani Pay CEO Winston Damarillo told reporters that existing investors Talino Ventures PBC and PTGB Partners LLC led
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PRESIDENT Ferdinand Marcos Jr. on Wednesday again urged investors to set up shop in the country, which he described as “open for business.” Speaking before Singaporean chief executive officers and investors at the 10th Asia Summit in Singapore, Marcos said that now was the best time to pour capital into the country as it “remains
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ECONOMIC managers on Tuesday capped a no-deal road show in the Middle East by encouraging potential investors to explore prospects in Philippine infrastructure projects. “[T]here has never been a better time to invest in the Philippines,” Socioeconomic Planning Secretary Arsenio Balisacan said during the Philippine Economic Briefing in Dubai. “[O]pportunities await in infrastructure and our
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Retail traders getting their first bite at Arm Holdings’ highly anticipated public offering when the British chip designer begins trading this week should beware: individual investors often get burned when they jump on hot listings. Arm’s goal of raising around $5 billion in New York in what might be the biggest IPO of 2023 follows
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INVESTORS will likely stay cautious despite a possible lift from economic data due to be released this week, analysts said. The Philippine Stock Exchange index (PSEi) closed at 6,222.94 on Friday, up 0.68 percent from a week earlier. Philstocks Financial Inc. senior research analyst Japhet Tantiangco said investors would particularly be waiting for news on
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