In countries where banking is under stress, Blackstone prepared to finance: ET GBS 2020 – Economic Times

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The Covid-19 virus outbreak could be an inflection point for the global economy, says Blackstone Group Chairman, CEO and Cofounder Steve Schwarzman. The private equity maven, however, believes it could be an opportunity for India if the government makes it easier to do business by streamlining processes. Blackstone is one of the largest investors in…

US Banks Are About to Collapse and Send Some Financial Stocks Soaring – Yahoo Finance

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Business Benzinga ‘The Black Swan’ Author To Elon Musk: ‘Saying The Coronavirus Panic Is Dumb Is Dumb’ Statistician Nassim Nicholas Taleb on Saturday responded to Tesla Inc. (NASDAQ: TSLA) chief executive officer Elon Musk’s comments calling the panic over the novel coronavirus (COVID-19) outbreak “dumb.”What Happened “The coronavirus panic is dumb,” the billionaire entrepreneur tweeted…

Virtu Financial founder says stock market is ‘one big opportunity right now’ – CNBC

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Virtu Financial founder Vincent Viola said Friday that the strength of the U.S. economy is a signal that now is a good time to buy stocks despite the recent sell-off.  Viola told CNBC’s Scott Wapner on “Halftime Report” that the labor market showed that the U.S. economy was still strong. “I am of the opinion…

Banks, financials tumble; RBL, AU Small Finance, IndusInd Bank dip over 14% – Business Standard

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Shares of banks and financial services companies declined up to 25 per cent on the National Stock Exchange (NSE) on Friday after the government placed YES Bank under moratorium and capped withdrawals for a month, while the Reserve Bank of India (RBI) superseded the private lender’s board, citing a steady decline in its financial position….

Share market update: Nifty Financial Services index down; Indiabulls Housing Finance plunges 13% – Economic Times

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NEW DELHI: The Nifty Financial Services index was down with its components trading lower in Friday’s afternoon session. Shares of Indiabulls Housing Finance Ltd (down​ 13.47 per cent)​, Edelweiss Financial Services (down​ 11.65 per cent)​, Shriram Transport Finance (down​ 7.32 per cent)​, State Bank of India (down​ 6.86 per cent)​, ICICI PRU LIFE (down​ 6.29…

Mobile banking app Empower Finance just closed a $20 million Series A round – TechCrunch

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Another afternoon, another round of funding for a mobile banking app. This time, it’s Empower Finance, a San Francisco-based company that’s headed up by former Sequoia Capital partner Warren Hogarth and which just closed on $20 million in Series A funding from Icon Ventures and Defy Ventures. David Velez, who is the founder and CEO…

Emma, the personal finance tracker, scores $2.5M seed led by Connect Ventures – TechCrunch

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Emma, the personal finance management app that bills itself as your best “financial friend,” has raised $2.5 million in seed funding. Connect Ventures led the round, with participation from Ithaca Investments, Tiny.vc and existing investor, Aglaé Ventures. The fintech previously raised $700,000 in angel funding in June 2018. Launched in the U.K. in early 2018…

India plagued with slowing economy, lack of finance: Blackstone chairman – The Financial Express

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Schwarzman, who is also the chief executive and co-founder of Blackstone, said his company is “bullish” on India, but from a long term perspective. (Reuters) India is plagued with a slowing economy and lack of finance currently, Blackstone’s chairman Stephen Schwarzman said, hinting that the global private equity major may be interested in distressed asset play…

Leap Finance raises $5.5M to democratize financing for foreign-bound Indian students – TechCrunch

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Tens of thousands of Indians move to the United States to pursue higher education each year. But like many others who have arrived from a foreign land, they can’t secure education loans or personal loans from the banks at interest rates on par with those levied on local students. The reason why these students —…

Leap Finance raises $5.5 million led by Sequoia India – Economic Times

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BENGALURU: Leap Finance, a fintech platform for Indian students pursuing higher education overseas, has raised $5.5 million led by Sequoia India. Leading angels including Bhupinder Singh from InCred and Kunal Shah from Cred among others also participated in the funding round. Leap Finance, which has a 25-member team, plans to deploy the cash raised to…