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Car Finance Market Size to Grow $2.33 Billion, Globally, by 2027 at 14.3% CAGR: Allied Market Research

October 12, 2020
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| finance

PORTLAND, Ore., Oct. 12, 2020 /PRNewswire/ — Allied Market Research published a report, titled, “Car Finance Market by Distribution Channel (Banks, OEMs, Credit Unions, and Others), Vehicle Age (New Vehicles and Used Vehicles), Application (Personal and Commercial), and Purpose (Loans and Lease): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global car finances industry was pegged at $1.29 billion in 2019, and is expected to hit $2.33 billion by 2027, registering a CAGR of 14.3% from 2020 to 2027.

Drivers, restraints, and opportunities-

Rise in global average price of automobiles and increase in demand for vehicles fuel the growth of the global car finance market. On the other hand, emergence of rideshare services and surge in debts from various borrowers curtail down the growth to some extent. However, enactment of technologies in existing product lines and untapped potential of emerging economies are expected to create

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India announces economic stimulus to boost demand by $10 billion

October 12, 2020
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By Aftab Ahmed and Manoj Kumar

NEW DELHI (Reuters) – India on Monday announced steps to stimulate consumer demand, including advance payment of a part of the wages of federal government employees during the festival season and more capital spending as it tries to bolster the pandemic-hit economy.

The government will allow its employees to spend tax-exempt travel allowances on goods and services, Nirmala Sitharaman, India’s finance minister told a news briefing.

She said the government will also shore up investment by spending extra 250 billion rupees ($3.41 billion)on roads, ports and defence projects, and offering 120 billion rupees in interest-free 50-year loans to state governments for spending on infrastructure before March 31,2021.

“All these measures are likely to create an additional demand of 730 billion rupees ($9.96 billion),” Sitharaman said, adding the proposals would stimulate demand in a “fiscally prudent way.”

Prime Minister Narendra Modi’s government, which imposed a

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ExxonMobil Loses $225 Billion In Market Cap Against Chevron

October 10, 2020
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Chevron Reports $8.3 Billion Loss For Second Quarter

NOVATO, CALIFORNIA – JULY 31: A sign is posted in front of a Chevron gas station on July 31, 2020 in … [+] Novato, California. Chevron Corp reported a $8.27 billion loss in second quarter earnings compared to $4.3 billion in revenues one year ago. (Photo by Justin Sullivan/Getty Images)

Getty Images

Twice over the past two weeks, ExxonMobil
XOM
has made headlines for all the wrong reasons.

Last week the utility NextEra Energy
NEE
surpassed the market capitalization of ExxonMobil to replace it as the largest U.S. energy company.

This week, there was another milestone. At some points over the past decade, ExxonMobil — the biggest of “Big Oil” in the U.S. — was worth as much as $225 billion more than Chevron
CVX
. That size advantage totally disappeared on October 8, 2020, when Chevron’s value closed the day higher than ExxonMobil’s.

If you look at the chart,

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Twilio to buy cloud customer data startup Segment for $3.2 billion: Forbes

October 10, 2020
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a man holding a sign: A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company's IPO in New York City


© Reuters/Brendan McDermid
A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company’s IPO in New York City


(Reuters) – Cloud communications platform provider Twilio Inc plans to buy customer data infrastructure company Segment for $3.2 billion, Forbes reported on Friday.

The deal, which had not been finalized as of Friday afternoon, was expected to be at least partially based on Twilio stock, the report added, citing two sources it did not name.

San Francisco-based Segment has recently been open to acquisition offers, according to the report.

Twilio declined to comment to Reuters. Segment was not immediately available for comment outside regular business hours.

Segment raised $175 million in a Series D funding round in April 2019. The startup said in September that it worked with more than 20,000 businesses including Intuit, FOX and Levi’s, employing more than 550 people.

Cloud

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JPMorgan Chase commits $30 billion to tackle racial wealth gap

October 9, 2020
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“Systemic racism is a tragic part of America’s history,” CEO Jamie Dimon said.

Catherine Thorbecke

October 9, 2020, 5:20 PM

• 5 min read

JPMorgan Chase pledged $30 billion to help ameliorate the racial wealth gap in the U.S. and “reduce systemic racism against Black and Latinx people,” the firm announced in a statement Thursday.

The investment bank said the $30 billion commitment over the next five years will come in the form of loans, equity and direct funding to promote affordable housing, grow Black and Latinx-owned businesses, improve access to banking in communities of color, and build a more diverse workforce.

“Systemic racism is a tragic part of America’s history,” Jamie Dimon, chairman and CEO of JPMorgan Chase, said in a statement. “We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latinx people.”

“It’s long past time

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LSE Agrees To Sell Italian Stock Exchange To Euronext For $5.1 Billion In Deal Involving Many Players

October 9, 2020
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Euronext, Europe’s largest stock exchange operator, will get even bigger after it agreed to purchase Borsa Italiana (the operator of the Milan Stock Exchange) from the London Stock Exchange, or LSE, for 4.3 billion euros ($5.1 billion).

The deal is complex and involves many stakeholders across the continent and U.K.

LSE entered into exclusive talks with Euronext last month on the deal after two other major European stock exchange operators — Germany’s Deutsche Boerse and Switzerland’s SIX — were muscled out of the picture.

LSE’s proposed disposition of Borsa Italiana is linked to its own plan to purchase data provider Refinitiv for $27 billion. LSE is still seeking regulatory approval from the EU for that transaction. (Refinitv is 55%-owned by Blackstone Group and 45%-owned by Thomson Reuters)

LSE’s acquisition of Refinitiv would transform LSE into a “capital markets infrastructure and information powerhouse, controlling widely-used services in share, bond and swaps

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Meet Billionaire Politician Tom Steyer’s Wife, A Pioneering Impact Investor On A Mission To Spend $1 Billion Righting Society’s Wrongs

October 9, 2020
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Kat Taylor started a bank, a venture capital firm and an agribusiness to use capitalism’s toolbox to fight systemic racism, environmental destruction and economic inequality.


On March 1st, as she gathered with thousands of others to march across the Edmund Pettus Bridge in Selma, Alabama on the 55th anniversary of Bloody Sunday, Kat Taylor burst into a rendition of Aretha Franklin’s “Do Right Woman, Do Right Man.” These days, Taylor is best known as the singing spouse of billionaire climate change activist and ex-Democratic presidential candidate Tom Steyer. But in the world of impact investing, she’s famous in her own right for the breadth and ambition of her efforts, as well as her musical shtick. Indeed, Taylor’s efforts are the big reason the couple made the Forbes Impact 50 for 2020.

Way back in 2007 (the stone age in impact investing), Taylor and Steyer launched an idea they’d talked

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The London Stock Exchange is selling Italy’s only stock market platform to Euronext for $5 billion

October 9, 2020
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REUTERS/Toby Melville


© REUTERS/Toby Melville
REUTERS/Toby Melville

  • The London Stock Exchange agreed to sell Italy’s only stock market platform to Paris-headquartered Euronext for about $5 billion.
  • LSE said it opted to divest the Milan stock exchange to fulfill a condition for its acquisition of  data-provider Refinitiv, which is currently under review by the European Union’s executive arm.
  • The deal is politically sensitive, as the Italian government was debating whether to take back full control of Borsa Italiana earlier this year.
  • Euronext has partnered with Italy’s largest bank and state agency CDP to secure the Italian government’s backing.
  • Visit Business Insider’s homepage for more stories.

The London Stock Exchange agreed on Friday to sell Milan’s Borsa Italiana to pan-European stock operator Euronext for 4.3 billion euros ($5 billion).  

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The LSE said it began discussions with Paris-based Euronext last month and a share purchase agreement was signed on October 9.

The sale

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Bonds suck in $26 billion as “blue wave” hopes gather pace

October 9, 2020
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LONDON, Oct 9 (Reuters) – Bond funds saw the second-largest weekly inflows ever of $25.9 billion, BofA said on Friday, as the market continues to price in a Democratic sweep in next month’s presidential election, which could mean even more fiscal stimulus.

“Blue wave election outcome (Democrats winning) has curiously flipped from consensus bear to bull catalyst in recent months,” the U.S. investment bank said.

Equity funds attracted $4.4 billion, mainly driven by U.S. equities, BofA said. Government and U.S. Treasury bond funds sucked in $3.8 billion, the largest inflows in 14 weeks, in the week to Oct. 7.

The bank also highlighted the likelihood of renewable energy stocks front-running a Democratic election sweep that was followed by a fiscal stimulus, pointing to one solar energy exchange traded fund’s stellar performance.

Invesco solar ETF TAN.P soared 255% from its March lows and has gained 42% in the last month alone.

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LSE Agrees to Sell Borsa Italiana to Euronext for $5 Billion | Investing News

October 9, 2020
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| business

PARIS/LONDON (Reuters) – Euronext

is to buy Borsa Italiana from London Stock Exchange

for 4.33 billion euros ($5.09 billion) in cash, the firms said on Friday, in a major expansion of the French operator’s network of European trading platforms.

LSE entered exclusive talks with Euronext last month after the Paris bourse owner saw off competition from Deutsche Boerse

and Swiss rival SIX.

LSE is selling Borsa as part of regulatory remedies to see through its $27 billion purchase of data provider Refinitiv, which is 45% owned by Thomson Reuters
, the parent company of Reuters News.

The sale is contingent on the European Commission formally stating it will only approve the Refinitiv deal if all or part of Borsa Italiana is sold.

“We believe the sale of the Borsa Italiana group will contribute significantly to addressing the EU’s competition concerns,” LSE Chief Executive David Schwimmer said in a statement.

Euronext,

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