Tag: Business

American Investment Company Corsair Capital Bags 30% Stake in Fintech IDnow

American Investment Company Corsair Capital Bags 30% Stake in Fintech IDnow

Business
IDnow, a German-based investment startup has just received $36 million worth of investment from the American based investor, Corsair Capital. Venture capital firms make it their goal to seek out companies with great prospects and invest in them. When major firms invest in a startup, it gets free publicity and other investors take an interest. The Munich-based Fintech start-up called IDnow has just received $36 million for a 30% stake from an American investment company, Corsair Capital. What Does Corsair Capital's Investment Mean For IDnow? On Monday, IDnow announced that Corsair Capital is its newest investor. The announcement was made by the Executive Chairman of the company Felix Haas. He said that the investment will help accelerate the expansion of the company as they continue t...
Social Media Users Blast Trump for Doubling Official Jobs Figures

Social Media Users Blast Trump for Doubling Official Jobs Figures

Business
Economist says figures were cooked up and not tethered to empirical reality On Friday, the U.S. government released the official job figures for the month of October. President Donald Trump took to Twitter to double the figures. Several experts were confused about the calculations of the president. In the end, Trump was blasted for his “Trump University economics” and “fuzzy math.” 128,000 new jobs were created in October The Labor Department of the Trump administration reported that 128,000 jobs had been added to the country in the month of October. However, the jobless rate in the nation still rose by 3.6%. Trump tweeted that the U.S. had a blowout of about 303,000 jobs. Ivanka Trump, the president’s daughter stuck to the official figure in her tweet. Later on, the White House e
Standard Chartered Reports 16% Surge in Pre-tax Profits for Q3

Standard Chartered Reports 16% Surge in Pre-tax Profits for Q3

Business
Global banking giant Standard Chartered recently announced its Q3 report in which it stated that its profit for the third quarter of 2019 was 16% higher than its Q3 2018 earnings. While the company made progress in the last quarter, the report also talked about the falling growth rate in the global market. The poor performance of financial firms over the last few months is no longer news. However, Standard Chartered is among the few firms that have recorded profits during this trying time. Standard Chartered Q3 2019 Report Summary. According to the report, the company's operating income for institutional banking grew by 13% compared to the third quarter of 2018. The operating income for its retail banking increased by 4% while the operating income from its private banking sector increas...