Toshiba on Tuesday warned its survival was at risk as the struggling Japanese industrial giant reported a loss of $4.8 billion in long-overdue financial results.
The company, a colossus of corporate Japan with 188,000 employees globally, had been threatened with expulsion from the Tokyo Stock Exchange unless it met the extended deadline of Tuesday to file its accounts.
JP Morgan’s corporate investment banking division CEO Daniel Pinto announced Tuesday that one of the bank’s clients used their cell phone to make a $100 million trade. One of the most respected senior executives in the industry highlights the changes that are coming to institutional FX trading at a time when his company invested $9.5 billion in new technology. Pinto’s announcement Tuesday may be proof the investments were worth the risk.
Google has launched a new feature on Search and News which shows a "Fact Check" label for certain links, indicating whether a third-party fact-checking organization has found the story factual or not.
In October, the search giant introduced the fact check label for Google News in a few countries. But now the company is expanding use of the tag to search, as well as Google News in every other country where it’s available.
Startups in the music industry are nowadays flourishing, trying to answer some of the questions that the same technology that allows their existence is posing. Data security, secondary ticketing, royalties, hit music: every topic has someone covering it in more or less successful ways.
The social media help ask these questions but also spread the word about these startups, while many of them get a kickstart from incubators. Marketplus will run a special in the following weeks regarding these startups.
This week Marketplus will look into Popgun, a company creating artificially intelligent software that will be able to play and create music.
The latest Tesla software update brings anticipated new features to Autopilot 2.0 cars, including Summon, which calls your car to you from its parking spot, but it also has a lighter side, as Tesla software updates tend to.
Tesla added a new Easter Egg (a goofy software gag generally slightly hidden from view) to its vehicles with the 8.1 update, and this time it’s a sketch pad. The 17-inch touchscreen that dominates the Tesla Model S center panel is basically already a huge digital surface primed for drawing, so it’s a natural add-on – not counting that most of the time you’re going to be using the screen while driving, of course.
Switzerland has started the countdown to a mass-market switch to the ISO 20022 standard for payments harmonisation across all consumer, corporate and bank payments. The digital payments drive will see Swiss financial institutions complete the changeover to the new standard by the end of 2017 and a corporate switch by mid-2018 at the latest.
The EU converted its payment traffic to ISO 20022 back in 2014; countries such as Japan and Australia also make use of ISO 20022. During the harmonization process, all the formats, procedures and payment slips that have evolved over time will be aligned with ISO 20022, a proven and future-proof standard.
The financial crisis of the latest years triggered many authors either to analyze it or to find some kind of solution. One of the latest books, it came out on […]
BlackRock, the world’s largest fund company, will rely on robots to do its stockpicking. The $5.1 trillion asset manager announced on Tuesday that they will be restructuring the business to offer cheaper quantitative stock funds driven by computer models.
The change impacts about $30 billion in assets under management, including $30 million in annual fee-related dollars, says Jefferies analyst Daniel Fannon. Fannon says that while the scale of the reorganization is surprising, the change makes sense in the context of the firm’s struggle to draw active stock assets. This means that traditional stock-pickers will be replaced, with reports indicating that 40 jobs are on the line in the shake-up, with Blackrock earmarking $25 million in severance and bonuses to those affected.
