Bitcoin climbs above $9,000 for first time in over a year amid Facebook crypto talk

Bitcoin leapt across the $9,000 mark on Sunday, boosted by reports that Facebook is soon set to launch its own cryptocurrency. The world’s largest digital coin traveled as high as $9,381.82 in the last 24 hours, according to CoinDesk’s bitcoin price index. The last time bitcoin hit a level as high as $9,000 was May 2018. The more than one year high comes amid news that Facebook is reportedly set to launch its own crypto token as early as Tuesday. Several news outlets have leaked details of the v


Bitcoin leapt across the $9,000 mark on Sunday, boosted by reports that Facebook is soon set to launch its own cryptocurrency. The world’s largest digital coin traveled as high as $9,381.82 in the last 24 hours, according to CoinDesk’s bitcoin price index. The last time bitcoin hit a level as high as $9,000 was May 2018. The more than one year high comes amid news that Facebook is reportedly set to launch its own crypto token as early as Tuesday. Several news outlets have leaked details of the v
Bitcoin climbs above $9,000 for first time in over a year amid Facebook crypto talk Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: ryan browne
Keywords: news, cnbc, companies, crypto, 9000, talk, high, bitcoin, worlds, venture, facebook, yearit, traveled, climbs, set, amid, launch


Bitcoin climbs above $9,000 for first time in over a year amid Facebook crypto talk

Bitcoin leapt across the $9,000 mark on Sunday, boosted by reports that Facebook is soon set to launch its own cryptocurrency.

The world’s largest digital coin traveled as high as $9,381.82 in the last 24 hours, according to CoinDesk’s bitcoin price index. The last time bitcoin hit a level as high as $9,000 was May 2018. Bitcoin is up 140% since the start of the year.

It pared gains slightly on Monday though, dropping 1.6% to $9,147.64.

The more than one year high comes amid news that Facebook is reportedly set to launch its own crypto token as early as Tuesday. Several news outlets have leaked details of the venture, with one saying it will let Facebook employees take their salary in the form of the new currency.


Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: ryan browne
Keywords: news, cnbc, companies, crypto, 9000, talk, high, bitcoin, worlds, venture, facebook, yearit, traveled, climbs, set, amid, launch


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Flying taxis could lift off in six years — here’s how much it’ll cost to ride one

Lilium says its five-seater jets can travel up to 300 kilometers in one hour. Flying cars have for years been limited to the world of fiction. To get a better idea of just how much that would cost, the executive used the example of taking New Yorkers from Manhattan to JFK Airport within six minutes for about $70. For reference, Uber plans to take passengers in its helicopter ride-sharing service from Manhattan to JFK for a roughly $200 flight that takes around eight minutes. Lilium says its airc


Lilium says its five-seater jets can travel up to 300 kilometers in one hour. Flying cars have for years been limited to the world of fiction. To get a better idea of just how much that would cost, the executive used the example of taking New Yorkers from Manhattan to JFK Airport within six minutes for about $70. For reference, Uber plans to take passengers in its helicopter ride-sharing service from Manhattan to JFK for a roughly $200 flight that takes around eight minutes. Lilium says its airc
Flying taxis could lift off in six years — here’s how much it’ll cost to ride one Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: ryan browne
Keywords: news, cnbc, companies, takes, manhattan, ride, lilium, hoping, gerber, lift, jfk, kilometers, fiveseater, itll, flying, service, cost, heres, taxis, travel


Flying taxis could lift off in six years — here's how much it'll cost to ride one

Lilium says its five-seater jets can travel up to 300 kilometers in one hour.

Flying cars have for years been limited to the world of fiction. Now there are plenty of companies hoping to make the sci-fi dream a reality.

One such firm is Lilium, a Munich-based start-up with big ambitions for the future of transportation: a five-seater electric air taxi, due to launch commercial flights in 2025.

The main goal Lilium is hoping to achieve, according to Chief Commercial Officer Remo Gerber, is making such a service an affordable one that people can use just like they would a ride-hailing app like Uber.

Around the time Lilium was established, its founders realized they didn’t want to make a “luxury product” or “something we sell to rich individuals,” but a “service that’s affordable,” Gerber told CNBC in an interview.

To get a better idea of just how much that would cost, the executive used the example of taking New Yorkers from Manhattan to JFK Airport within six minutes for about $70.

For reference, Uber plans to take passengers in its helicopter ride-sharing service from Manhattan to JFK for a roughly $200 flight that takes around eight minutes.

Lilium says its aircraft, which takes off and lands vertically, can travel 300 kilometers in an hour after a single charge. In the U.K. that means it would be able to take someone from London to Manchester — in other words, from the South to the North of England – in one journey.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: ryan browne
Keywords: news, cnbc, companies, takes, manhattan, ride, lilium, hoping, gerber, lift, jfk, kilometers, fiveseater, itll, flying, service, cost, heres, taxis, travel


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UK app-only bank Monzo launches in the US to take on America’s financial giants

British fintech start-up Monzo has launched in the United States, as it looks to challenge the country’s established banking giants. These are new digital banks that are looking to take a slice of the massive financial services sector. To help with the U.S. launch, Monzo partnered with domestic lender Sutton Bank. By securing a U.S. launch, Monzo has managed to beat some of its rivals that also have ambitions to expand to the country. Revolut and N26 have both said they are looking to enter the


British fintech start-up Monzo has launched in the United States, as it looks to challenge the country’s established banking giants. These are new digital banks that are looking to take a slice of the massive financial services sector. To help with the U.S. launch, Monzo partnered with domestic lender Sutton Bank. By securing a U.S. launch, Monzo has managed to beat some of its rivals that also have ambitions to expand to the country. Revolut and N26 have both said they are looking to enter the
UK app-only bank Monzo launches in the US to take on America’s financial giants Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: ryan browne
Keywords: news, cnbc, companies, financial, bank, n26, apponly, expand, giants, banks, apps, looking, working, americas, monzo, launch, uk, work, revolut, launches


UK app-only bank Monzo launches in the US to take on America's financial giants

British fintech start-up Monzo has launched in the United States, as it looks to challenge the country’s established banking giants.

The London-based company said Thursday that it would initially offer a “few thousands cards” to American customers at launch events in Los Angeles, California.

Monzo is one of several so-called challenger banks that operate with only an ATM card and an app. These are new digital banks that are looking to take a slice of the massive financial services sector.

There are already a number of such players in Europe, including U.K. firm Revolut and Germany’s N26, while in the U.S. the main neobanks appear to be Chime and Aspiration.

To help with the U.S. launch, Monzo partnered with domestic lender Sutton Bank. It has selected LA as its initial U.S. base, and is looking to expand to other cities.

“When it comes to consumer apps, banks are at least a decade behind the ease and feature-set of a Lyft or an Airbnb, not to mention sloth-like and unimaginative when compared to the innovation cycle in the apps we use every day,” Monzo’s CEO Tom Blomfield said in a statement.

“With Monzo, we aim to make money work for everyone by working with our community of users to build things that work for them.”

By securing a U.S. launch, Monzo has managed to beat some of its rivals that also have ambitions to expand to the country. Revolut and N26 have both said they are looking to enter the U.S. at some point this year.


Company: cnbc, Activity: cnbc, Date: 2019-06-13  Authors: ryan browne
Keywords: news, cnbc, companies, financial, bank, n26, apponly, expand, giants, banks, apps, looking, working, americas, monzo, launch, uk, work, revolut, launches


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Fiat Chrysler teams up with Amazon-backed driverless car start-up Aurora

Fiat Chrysler is joining forces with Silicon Valley-based technology upstart Aurora to build driverless cars. The two companies said Monday they had signed an agreement that lays the groundwork for a “powerful partnership in self-driving commercial vehicles.” “Aurora brings a unique skillset combined with advanced and purposeful technology that complements and enhances our philosophy on self-driving.” Just last week, it was reported that Apple was looking to buy driverless shuttle service Drive.


Fiat Chrysler is joining forces with Silicon Valley-based technology upstart Aurora to build driverless cars. The two companies said Monday they had signed an agreement that lays the groundwork for a “powerful partnership in self-driving commercial vehicles.” “Aurora brings a unique skillset combined with advanced and purposeful technology that complements and enhances our philosophy on self-driving.” Just last week, it was reported that Apple was looking to buy driverless shuttle service Drive.
Fiat Chrysler teams up with Amazon-backed driverless car start-up Aurora Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: ryan browne
Keywords: news, cnbc, companies, aurora, firm, deal, technology, strategy, selfdriving, chrysler, startup, week, tech, car, amazonbacked, fiat, space, teams, driverless, strategic, titan


Fiat Chrysler teams up with Amazon-backed driverless car start-up Aurora

Fiat Chrysler is joining forces with Silicon Valley-based technology upstart Aurora to build driverless cars.

The two companies said Monday they had signed an agreement that lays the groundwork for a “powerful partnership in self-driving commercial vehicles.”

The deal will enable Aurora to expand the scope of its self-driving software, the firm said, “allowing us to offer a variety of solutions to strategic customers in logistics, transit, and other use cases.”

Financial terms of the deal were not disclosed.

The news comes just under a week after the Italian-American automaker dropped its merger offer for French rival Renault.

The deal could have helped the two align their strategy on innovations like electric and self-driving cars, a space that has become a central battleground for major carmakers worldwide.

“As part of FCA’s autonomous vehicle strategy we will continue to work with strategic partners in this space to address the needs of consumers in a rapidly changing industry,” Fiat Chrysler CEO Mike Manley said in a statement Monday.

“Aurora brings a unique skillset combined with advanced and purposeful technology that complements and enhances our philosophy on self-driving.”

Aurora is already partnered with household names in the industry like Volkswagen and Hyundai. The firm boasts talent from founders who all previously worked at tech giants including Alphabet, Tesla and Uber.

The Palo Alto, California-based company raised $530 million earlier this year, in a round that was backed by leading venture capital firm Sequoia and e-commerce titan Amazon.

The race toward full self-driving capability has become a heated one, with tech firms and automakers alike looking to make waves in the field.

Just last week, it was reported that Apple was looking to buy driverless shuttle service Drive.ai. The firm’s autonomous driving division, known as Project Titan, underwent a big restructuring earlier this year, laying off over 200 employees.


Company: cnbc, Activity: cnbc, Date: 2019-06-10  Authors: ryan browne
Keywords: news, cnbc, companies, aurora, firm, deal, technology, strategy, selfdriving, chrysler, startup, week, tech, car, amazonbacked, fiat, space, teams, driverless, strategic, titan


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European stocks higher in the wake of EU elections; Renault jumps 15% on Fiat merger talks

European shares climbed on Monday, as an EU Parliament election showed Europhile parties still performing reasonably well despite a rise in support for nationalists. Investors in Europe will largely be focused on results of the EU parliamentary elections. Initial results suggested a strong showing for Liberal and Green parties, while euroskeptic groups in Britain and France holding the gains they saw in 2014. Pro-EU parties are still expected to make up the majority of the Parliament, however, h


European shares climbed on Monday, as an EU Parliament election showed Europhile parties still performing reasonably well despite a rise in support for nationalists. Investors in Europe will largely be focused on results of the EU parliamentary elections. Initial results suggested a strong showing for Liberal and Green parties, while euroskeptic groups in Britain and France holding the gains they saw in 2014. Pro-EU parties are still expected to make up the majority of the Parliament, however, h
European stocks higher in the wake of EU elections; Renault jumps 15% on Fiat merger talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: chloe taylor ryan browne, chloe taylor, ryan browne
Keywords: news, cnbc, companies, jumps, wake, results, parliament, parties, holding, uk, climbed, talks, renault, france, eu, higher, merger, gains, beating, stocks, fiat, european


European stocks higher in the wake of EU elections; Renault jumps 15% on Fiat merger talks

European shares climbed on Monday, as an EU Parliament election showed Europhile parties still performing reasonably well despite a rise in support for nationalists.

Germany’s DAX rose about 0.5% while France’s CAC climbed 0.3%. Italy’s FTSE MIB jumped 0.6%. Markets in the U.K. are closed on Monday due to a public holiday.

Investors in Europe will largely be focused on results of the EU parliamentary elections. Initial results suggested a strong showing for Liberal and Green parties, while euroskeptic groups in Britain and France holding the gains they saw in 2014.

Pro-EU parties are still expected to make up the majority of the Parliament, however, holding on to about two-thirds of the seats. But right-wing populist parties in both the U.K. and France made solid gains, with Nigel Farage’s Brexit Party comfortably beating Britain’s two main parties and Marine Le Pen’s National Rally narrowly beating President Emmanuel Macron’s centrist party.

The euro lost some ground against the dollar on Monday afternoon, trading just below $1.12 and trimming its earlier gains.


Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: chloe taylor ryan browne, chloe taylor, ryan browne
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Europe stocks close higher in the wake of EU elections; Renault jumps 12% on Fiat merger talks

European shares climbed on Monday, as an EU Parliament election showed Europhile parties still performing reasonably well despite a rise in support for nationalists. Markets in the U.K. and U.S. were closed Monday, meaning trading volumes were low. Investors in Europe were largely focused on results of the EU parliamentary elections. Results showed a strong showing for Liberal and Green parties, while euroskeptic groups in Britain and France held the gains they saw in 2014. The euro lost some gr


European shares climbed on Monday, as an EU Parliament election showed Europhile parties still performing reasonably well despite a rise in support for nationalists. Markets in the U.K. and U.S. were closed Monday, meaning trading volumes were low. Investors in Europe were largely focused on results of the EU parliamentary elections. Results showed a strong showing for Liberal and Green parties, while euroskeptic groups in Britain and France held the gains they saw in 2014. The euro lost some gr
Europe stocks close higher in the wake of EU elections; Renault jumps 12% on Fiat merger talks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: chloe taylor ryan browne, chloe taylor, ryan browne
Keywords: news, cnbc, companies, showed, uk, talks, wake, europe, stocks, closed, fiat, results, parliament, eu, gains, merger, france, renault, trading, higher, parties, jumps


Europe stocks close higher in the wake of EU elections; Renault jumps 12% on Fiat merger talks

European shares climbed on Monday, as an EU Parliament election showed Europhile parties still performing reasonably well despite a rise in support for nationalists.

Germany’s DAX closed about 0.5% higher while France’s CAC climbed 0.3%. Italy’s FTSE MIB jumped 0.6% initially, but fell into negative territory during the afternoon session after a report Brussels is considering disciplinary action over Rome’s failure to rein in public debt.

Markets in the U.K. and U.S. were closed Monday, meaning trading volumes were low.

Investors in Europe were largely focused on results of the EU parliamentary elections. Results showed a strong showing for Liberal and Green parties, while euroskeptic groups in Britain and France held the gains they saw in 2014.

Pro-EU parties are still expected to make up the majority of the Parliament, however, holding on to about two-thirds of the seats. Right-wing populist parties in both the U.K. and France made solid gains, with Nigel Farage’s Brexit Party comfortably beating Britain’s two main parties and Marine Le Pen’s National Rally narrowly beating President Emmanuel Macron’s centrist party.

The euro lost some ground against the dollar on Monday afternoon, trading just below $1.12 and trimming its earlier gains.


Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: chloe taylor ryan browne, chloe taylor, ryan browne
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‘A decisive moment’: Here’s what experts are saying about the EU elections

Philippe Huguen | AFP | Getty ImagesEuropeans showed belief in the EU project, experts claimed Monday, despite long-dominant centrist parties losing ground to euroskeptic and nationalist opponents in the EU elections. Voters delivered a fragmented result overnight on Sunday, meaning the make-up of the EU Parliament will appear more divided over the next five years. Despite the strong showing for nationalist and far-right groups, experts told CNBC on Monday that the European Union still had signi


Philippe Huguen | AFP | Getty ImagesEuropeans showed belief in the EU project, experts claimed Monday, despite long-dominant centrist parties losing ground to euroskeptic and nationalist opponents in the EU elections. Voters delivered a fragmented result overnight on Sunday, meaning the make-up of the EU Parliament will appear more divided over the next five years. Despite the strong showing for nationalist and far-right groups, experts told CNBC on Monday that the European Union still had signi
‘A decisive moment’: Here’s what experts are saying about the EU elections Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: chloe taylor ryan browne, chloe taylor, ryan browne
Keywords: news, cnbc, companies, support, european, maybe, heres, global, europe, decisive, experts, parliament, eu, somebody, nationalist, saying, elections, parties, moment


'A decisive moment': Here's what experts are saying about the EU elections

Philippe Huguen | AFP | Getty Images

Europeans showed belief in the EU project, experts claimed Monday, despite long-dominant centrist parties losing ground to euroskeptic and nationalist opponents in the EU elections. Voters delivered a fragmented result overnight on Sunday, meaning the make-up of the EU Parliament will appear more divided over the next five years. Some nationalist and anti-EU candidates enjoyed solid gains, while Liberal and Green parties also ate into the centrist block’s stronghold. Despite the strong showing for nationalist and far-right groups, experts told CNBC on Monday that the European Union still had significant levels of support. “I think the voter turnout shows that people really still care about the EU and what the European Union is doing,” Anna Rosenberg, head of Europe and the U.K. at the think-tank Signum Global, told CNBC’s “Squawk Box Europe.” “It shows a trend that, rather than weakening, it’s going to strengthen,” Rosenberg added.

She said the new makeup of the European Parliament will help the EU become a global player in tackling issues like climate change, citing the rise in the Greens’ share of the vote. Support for right-wing populist parties had been “overestimated,” she added, and while some countries have seen a rise in nationalists, it’s not a “European-wide trend.” Meanwhile, Vasileios Gkionakis, global head of FX strategy at Lombard Odier & Cie, noted that although the Greens and the Liberals veered from the center, both are parties in favour of the European project. “The expectations were a relatively meaningful increase in populist and nationalist parties which didn’t actually take place,” he said. Italy remained an outlier where there was a marked increase in support for Matteo Salvini’s nationalist Lega party. While there’s “definitely an issue” as far as Italy’s concerned, Gkionakis said, overall the result was “positive” for the EU.

Call for change

But that doesn’t mean the EU can afford to be complacent, one analyst suggested. “Some of these changes we’re seeing at the margin tell us that Europe needs to change,” said Guy Miller, chief market strategist at Zurich Insurance, noting the 2016 Brexit referendum where a majority of British voters rejected the EU. However, he added there was now is “an appreciation on the part of Europe” that the public was demanding to be listened to. The expectation is that the EU will progress toward a vision held by French President Emmanuel Macron of a more united Europe, Miller said, “provided he can deliver a real feeling of vision.”

Daniel Gros, director of the Centre for European Policy Studies agreed: “(Leaders) have to start realizing that maybe people have accepted Europe, but in some instances they want a different Europe – Brussels has to take that into account.” Gros noted that, as there was no clear winner, it could pose problems when it comes to selecting new leadership for the European Commission. “I think (it will be) somebody from a party who has a strong showing in this parliament, maybe a Liberal, maybe Green,” he said. “We need somebody who can put these parties together, because we have different coalitions on different issues, and we never know what the next crisis will bring, and therefore we really need somebody who can pull people together.”

‘Decisive moment’


Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: chloe taylor ryan browne, chloe taylor, ryan browne
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EU regulator launches probe into Google over data privacy

Ireland’s data privacy watchdog on Wednesday announced the launch of an inquiry into Google over the tech giant’s collection of data when it comes to online advertising. The Data Protection Commission, which acts as the lead supervisory authority for Google in the European Union, said its probe would examine whether Google’s processing of data in advertising transactions breaches the bloc’s privacy rules. A Google spokesperson said, “We will engage fully with the DPC’s investigation and welcome


Ireland’s data privacy watchdog on Wednesday announced the launch of an inquiry into Google over the tech giant’s collection of data when it comes to online advertising. The Data Protection Commission, which acts as the lead supervisory authority for Google in the European Union, said its probe would examine whether Google’s processing of data in advertising transactions breaches the bloc’s privacy rules. A Google spokesperson said, “We will engage fully with the DPC’s investigation and welcome
EU regulator launches probe into Google over data privacy Cached Page below :
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Keywords: news, cnbc, companies, data, processing, regulator, powers, privacy, inquiry, protection, eu, online, welcome, wednesdaya, launches, google, probe


EU regulator launches probe into Google over data privacy

Ireland’s data privacy watchdog on Wednesday announced the launch of an inquiry into Google over the tech giant’s collection of data when it comes to online advertising.

The Data Protection Commission, which acts as the lead supervisory authority for Google in the European Union, said its probe would examine whether Google’s processing of data in advertising transactions breaches the bloc’s privacy rules.

“A statutory inquiry pursuant to section 110 of the Data Protection Act 2018 has been commenced in respect of Google Ireland Limited’s processing of personal data in the context of its online Ad Exchange,” the regulator said in a statement Wednesday.

A Google spokesperson said, “We will engage fully with the DPC’s investigation and welcome the opportunity for further clarification of Europe’s data protection rules for real-time bidding. Authorized buyers using our systems are subject to stringent policies and standards.”

Brussels last year introduced sweeping new privacy reforms known as the General Data Protection Regulation, or GDPR, which gave Europeans new powers in how they can control their data. Such powers include the right to find out how companies use their data, as well as the ability to force firms to destroy their data.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: ryan browne
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Wealthsimple raises $75 million and says it’s closer on path toward an IPO

WealthSimple CEO Michael Katchen poses for a photograph inside his former offices at 372 Richmond Street in downtown Toronto on September 18, 2015. Online investment management platform Wealthsimple said Wednesday that it raised 100 million Canadian dollars ($75 million) in a fresh round of funding. Wealthsimple’s CEO Michael Katchen told CNBC back in October that the firm was likely to raise more money. “It’s really where we’re trying to take the business over the coming years,” he told CNBC in


WealthSimple CEO Michael Katchen poses for a photograph inside his former offices at 372 Richmond Street in downtown Toronto on September 18, 2015. Online investment management platform Wealthsimple said Wednesday that it raised 100 million Canadian dollars ($75 million) in a fresh round of funding. Wealthsimple’s CEO Michael Katchen told CNBC back in October that the firm was likely to raise more money. “It’s really where we’re trying to take the business over the coming years,” he told CNBC in
Wealthsimple raises $75 million and says it’s closer on path toward an IPO Cached Page below :
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Wealthsimple raises $75 million and says it's closer on path toward an IPO

WealthSimple CEO Michael Katchen poses for a photograph inside his former offices at 372 Richmond Street in downtown Toronto on September 18, 2015.

Online investment management platform Wealthsimple said Wednesday that it raised 100 million Canadian dollars ($75 million) in a fresh round of funding.

The Toronto-based start-up said the investment was led by the digital investment arm of Germany’s Allianz, Allianz X, with additional backing coming from early investor Power Financial.

Wealthsimple’s CEO Michael Katchen told CNBC back in October that the firm was likely to raise more money. He also said the eventual goal for the company was to launch an initial public offering, but that this was still “several years out.”

While that’s still the case today, Katchen said he saw the funding as a “great step” in bringing the firm closer to a stock market debut.

“It’s really where we’re trying to take the business over the coming years,” he told CNBC in an interview Wednesday.

Wealthsimple is one of a number of so-called robo-advisors, platforms that use algorithms to automate investment decisions. It only has a handful of human advisors at hand to answer client queries. The company has also branched out into trading.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: ryan browne
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TransferWise is now Europe’s most valuable fintech start-up, with a $3.5 billion valuation

TransferWise, the money transfer company that’s taking on Western Union, is valued at $3.5 billion after a new investment round, making it Europe’s most valuable financial technology start-up. The company says it’s been pushing for more transparency around the fees banks and currency exchange services charge their customers for transferring money abroad. “Eight years ago we had a dream, and in a way the whole world was against us,” said TransferWise co-founder and Chairman Taavet Hinrikus in an


TransferWise, the money transfer company that’s taking on Western Union, is valued at $3.5 billion after a new investment round, making it Europe’s most valuable financial technology start-up. The company says it’s been pushing for more transparency around the fees banks and currency exchange services charge their customers for transferring money abroad. “Eight years ago we had a dream, and in a way the whole world was against us,” said TransferWise co-founder and Chairman Taavet Hinrikus in an
TransferWise is now Europe’s most valuable fintech start-up, with a $3.5 billion valuation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: ryan browne
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TransferWise is now Europe's most valuable fintech start-up, with a $3.5 billion valuation

TransferWise, the money transfer company that’s taking on Western Union, is valued at $3.5 billion after a new investment round, making it Europe’s most valuable financial technology start-up.

In lowering fees and adding a slick online platform to help consumers move money globally and track their transfers, the London-based company is taking a modern approach to a staid business that’s been dominated by giants like Western Union and MoneyGram.

The company says it’s been pushing for more transparency around the fees banks and currency exchange services charge their customers for transferring money abroad.

“Eight years ago we had a dream, and in a way the whole world was against us,” said TransferWise co-founder and Chairman Taavet Hinrikus in an interview. “And we’ve been able to step by step build the business and also change the environment around us to be much more consumer friendly.”

TransferWise isn’t adding fresh cash to its balance sheet with the investment, but instead giving employees and early investors the chance to sell some of their stake in a $292 million secondary deal.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: ryan browne
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