Author: IA PressRoom

Insight Partners has slashed the $20bn target for its latest fund and said it would slow down its pace of dealmaking after almost a year of glacial fundraising as technology valuations have slumped.The New York-based venture capital firm, which is among the largest technology growth investors in the US with $90bn of assets, has raised only about $2bn for its 13th fund, which was first marketed to investors last June.In a letter to institutional investors on Monday, Insight Partners said its investors that it was witnessing a “great reset in tech” as a result of a steep decline in public…

© Reuters. FILE PHOTO: A man walks past an electric monitor displaying Japan’s Nikkei share average and recent movements, outside a bank in Tokyo, Japan, June 5, 2023. REUTERS/Issei Kato By Julie Zhu HONG KONG (Reuters) – Asian shares edged up in early trade on Tuesday, following an upbeat session on Wall Street while investors turned their attention to key U.S. inflation data and the Federal Reserve’s interest rate decision this week. Investors will be closely monitoring U.S. Consumer Price Index (CPI) data, due to be released on Tuesday, and Producer Price Index (PPI) data, due out Wednesday, for a…

© Reuters. FILE PHOTO: The Arm Ltd logo and a rising stock graph are seen in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration (Reuters) – Intel (NASDAQ:) is in talks with SoftBank Group Corp’s Arm to be an anchor investor in the chip maker’s initial public offering (IPO), a source familiar with the matter told Reuters on Monday. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8 billion and $10 billion, Reuters reported earlier in April. Arm’s designs are used in the manufacturing of chips made by most of the world’s major…

Source: KVN1777/AdobeA Chinese city says it is rolling out offline digital yuan “hard wallets,” with the nation targeting CBDC uptake among “elderly citizens and children.”Per Changsha Evening News, the city of Changsha, Hunan Province, has announced it will debut “elderly and children-friendly” digital yuan hard wallets.The CBDC’s adoption drive could be hampered by the preponderance of non-smartphone-owning individuals, banks have explained.Smartphone penetration rate in China from 2018 to 2022, with forecasts(*) until 2027. (Source: Statista).Smartphone ownership is high in urban areas, but much lower in rural China.But Chinese cities and state-run commercial banks have attempted to get around this by…

As former President Donald J. Trump arrived in Florida on Monday for his first scheduled court appearance related to federal criminal charges stemming from his handling of classified documents, the authorities in Miami were bracing for the possibility of large crowds of pro-Trump demonstrators massing around the courthouse.Mr. Trump headed to his Doral resort in Miami, where he and his legal team were conducting last-minute interviews with lawyers to represent him when he heads to the federal courthouse on Tuesday afternoon.Mr. Trump has called for any demonstrations to be peaceful, but some of his backers have portrayed this indictment, in an…

Good news for house sellers. Bad news for buyers. U.S. consumers have high hopes for house prices, despite interest rates that have doubled over the last two years. Expectations for growth in median home prices increased to 2.6% in May from 2.5% in April, the highest reading since July 2022, according to the latest Survey of Consumer Expectations released Monday by the Federal Reserve Bank of New York.  The increase in house-price expectations was particularly notable among people with annual household incomes above $100,000, and those who live in the Western U.S. (The monthly survey gathers respondents’ expectations about inflation,…

MANHATTAN, NEW YORK, UNITED STATES – 2021/03/03: BlackRock offices in New York City. (Photo by Erik … [+] McGregor/LightRocket via Getty Images)LightRocket via Getty Images Executives at the world’s largest asset manager are worried about rising long-term inflation, and the willingness of the Federal Reserve to save stock investors. Blackrock Inc. published last week its Global Outlook for 2023. The report identifies three drivers that should know about, because they will reset stock and bond prices for the foreseeable future. The analysis is bullish for On Semiconductor (ON). Let me explain. Blackrock was an early proponent of globalization, the idea…

© Reuters. FILE PHOTO: A shopper holds items and looks at others on sale at a clothing retail store in central Sydney, Australia, March 19, 2017. REUTERS/Steven Saphore SYDNEY (Reuters) – Australian consumer sentiment turned sour after a surprise hike in interest rates this month, a survey showed on Tuesday, with consumers becoming worried about prospects of unemployment amid the warning of more rate increases to come. The Westpac-Melbourne Institute index of consumer sentiment rose 0.2% in June to 79.2, steadying near recession lows and suggesting pessimists greatly outnumbered optimists. But the slight improvement masked a significant difference in sentiment…

The regulation of the financial markets in the United States could undergo a significant shift in the coming days as Republican congressmen propose a radical alteration of the Securities and Exchange Commission’s (SEC) governance structure through the “SEC Stabilization Act.”This act seeks to remove the current SEC chairman, Gary Gensler, and dissolve the chairperson’s role altogether, with Warren Davidson and House Majority Whip Tom Emmer leading the charge to fundamentally redefine the SEC’s constitution.Given the potential changes in the macroeconomic backdrop, how might these affect which are the best cryptos to buy now?The bill suggests the institution of six commissioners,…

White House press secretary Karine Jean-Pierre violated the Hatch Act, the federal law limiting certain political activities of federal employees to prevent influencing elections, one government watchdog has found.According to the Office of Special Counsel, Jean-Pierre committed the violation last year ahead of the 2022 midterm elections when she repeatedly referred to “mega MAGA Republicans” while acting in her role as White House press secretary.”Because Ms. Jean‐Pierre made the statements while acting in her official capacity, she violated the Hatch Act prohibition against using her official authority or influence for the purpose of interfering with or affecting the result of…