Connect with us

Reuters

Canada spy agency warned of ‘shock waves’ from arrest of Huawei founder’s daughter

Avatar

Published

on

FILE PHOTO: Huawei Technologies Chief Financial Officer Meng Wanzhou leaves her home to attend a court hearing in Vancouver, British Columbia, Canada May 27, 2020. REUTERS/Jennifer Gauthier

TORONTO (Reuters) – Canada’s intelligence agency warned that arresting the daughter of billionaire Huawei founder Ren Zheng would set off global “shock waves” and seriously affect ties with China, just before her detention in Vancouver on a U.S. extradition request, new court documents show.

Released on Friday, the documents show the involvement of the Canadian Security Intelligence Service (CSIS) in the December 2018 arrest of Meng Wanzhou, which soured diplomatic ties between Ottawa and Beijing.

Meng is chief financial officer of China tech giant Huawei Technologies Co Ltd, the company at the center of next generation 5G wireless technology and a long-running dispute the administration of U.S. President Donald Trump.

A CSIS report was disclosed in the court documents as part of Meng’s extradition proceedings. In a redacted Dec. 1, 2018 memo, CSIS said it was advised by the U.S. FBI of plans to arrest Meng when she arrived on a flight to Vancouver International Airport later that same day.

“The arrest is likely to send shockwaves around the world,” CSIS said. “The planned event will be of great consequence internationally and bilaterally,” the report said.

Huawei lawyers called the documents proof that authorities had conspired against Meng.

Meng is accused by U.S. authorities of bank fraud for misleading HSBC (HSBA.L) about Huawei’s relationship with a company operating in Iran, putting HSBC at risk of fines and penalties for breaking U.S. sanctions on Tehran.

Meng’s lawyers have argued the case should be thrown out because Canada did not have sanctions against Iran. Meng says she is innocent. Last month, a Canadian judge allowed the case to continue, rejecting defense arguments that the U.S. charges against Meng do not constitute crimes in Canada.

The new court documents show the CSIS was concerned about when Meng’s arrest might become public. Her lawyers noted the point was of particular interest, since Canadian Prime Minister Justin Trudeau, Trump and Chinese President Xi Jinping were attending the G20 summit in Argentina and dining together on the evening of Dec. 1.

Reporting by Denny Thomas, Editing by Tom Brown

Source: http://feeds.reuters.com/~r/reuters/topNews/~3/W7y5BtL_Mr0/canada-spy-agency-warned-of-shock-waves-from-arrest-of-huawei-founders-daughter-idUSKBN23K017

Blockchain

India to have a ‘window’ for Bitcoin, says minister amid crypto ban FUD

The Ministry of Finance of India continues to form a careful position on private cryptocurrencies.

Avatar

Published

on

The minister of finance of India, Nirmala Sitharaman, has given a ray of hope for the Indian cryptocurrency community as more fear, uncertainty and doubt circulate regarding a supposedly impending ban on digital assets. 

In a Saturday interview with India Today, Sitharaman emphasized that the ministry does not plan to shut off Indian innovations associated with Bitcoin (BTC) and its underlying blockchain technology.

“From our side, we are very clear that we are not shutting all options off. We will allow certain windows for people use, so that experiments on the blockchain, Bitcoins or cryptocurrency […] and fintech, which depend on such experiments, will have that window available for them. We are not going to shut it off,” she said.

Sitharaman said that the ministry is finalizing a cabinet note on crypto as India continues formulating its official stance on the asset class. “It is nearing completion, and then it will be taken to the cabinet. The Supreme Court had commented on cryptocurrency. We are very clear that the Reserve Bank of India will take a call on an official cryptocurrency,” she said.

After India’s supreme court lifted a crypto banking ban one year ago, reports of a new ban started circulating in early 2021. In February, another anonymous Indian official claimed that the government was about to introduce a complete ban on crypto, giving investors up to six months to liquidate their holdings.

On Sunday, Reuters published a report citing an anonymous senior government official who claimed that India is preparing to enforce a blanket ban on crypto and impose major penalties on rule-breakers. As part of an alleged bill, India is planning to criminalize “possession, issuance, mining, trading and transferring crypto-assets,” the source claimed.

Despite reports of a ban from anonymous sources continuing to surface, Sitharaman said in early March that the ministry wants to form a “calibrated” stance on digital assets. 

Nischal Shetty, founder of local crypto exchange WazirX, seemed optimistic about Sitharaman’s comments in a tweet, stating that it is time for the Indian crypto community to build. 

The RBI and the Ministry of Finance did not immediately respond to Cointelegraph’s request for comment.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/india-to-have-a-window-for-bitcoin-says-minister-amid-crypto-ban-fud

Continue Reading

Reuters

Fintech banker McLaughlin hunts bigger deal after upsized SPAC IPO

Avatar

Published

on

NEW YORK (Reuters) – The blank check firm co-founded by one of the most prominent U.S. financial technology investment bankers will broaden its search for merger partners to companies worth up to $10 billion after pricing a larger initial public offering (IPO).

Steve McLaughlin started FT Partners in 2001 and since then, the fintech-focused investment bank has worked on mergers and acquisitions and public and private fundraising for the likes of BlackRock Inc, StoneCo Ltd and GreenSky Inc.

An alumnus of Goldman Sachs, McLaughlin and FT Partners have also been involved in advising a half-dozen firms in mergers with so-called special purpose acquisition companies (SPACs), most recently mobile bank MoneyLion’s $2.9 billion combination with Fusion Acquisition Corp.

Alongside Gene Yoon, founder of technology-focused investment firm Bregal Sagemount, McLaughlin is now sponsoring his own SPAC. Independence Holdings Corp. priced a $435 million IPO on Monday, having increased the number of units sold due to investor demand.

SPACs are shell companies that raise funds from investors to take a private company public.

Pulling in extra cash and fully exercising the greenshoe, a share allotment potentially sold in the days after an IPO prices, McLaughlin told Reuters on Tuesday, will allow Independence to target larger fintech companies, beyond the $5 billion maximum size previously considered.

He added a deal involving a company that processes payments between businesses, or one providing financial management services, would be likely for Independence.

“We provide an incredibly attractive option for a company as we’ve successfully taken many companies through this complex process, so we can give comfort to founders and investors along the way,” McLaughlin said.

Despite heightened investor interest in cryptocurrencies, McLaughlin said Independence wouldn’t be investing in a firm in that industry because most businesses are still too early in their development.

He added it was highly unlikely that Independence would end up merging with a client of his investment bank.

Source: Reuters – Fintech banker McLaughlin hunts bigger deal after upsized SPAC IPO

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://spacfeed.com/fintech-banker-mclaughlin-hunts-bigger-deal-after-upsized-spac-ipo?utm_source=rss&utm_medium=rss&utm_campaign=fintech-banker-mclaughlin-hunts-bigger-deal-after-upsized-spac-ipo

Continue Reading

Reuters

Former Disney executives Mayer and Staggs plan new SPAC – source

Avatar

Published

on

(Reuters) – Former Walt Disney Co executives Kevin Mayer and Thomas Staggs plan to raise $300 million in an initial public offering for a new special purpose acquisition company (SPAC), a person familiar with the matter said on Thursday.

The duo’s first SPAC, Forest Road Acquisition Corp, agreed a three-way merger last week with fitness companies Beachbody LLC and Myx Fitness LLC that was valued at around $2.9 billion.

Former basketball star Shaquille O’Neal, who is also on the board of directors at pizza chain Papa John’s International Inc, and Martin Luther King III, the oldest son of civil rights leader Martin Luther King Jr, are working for Forest Road II as a strategic advisor and a director, respectively, the source said.

Mayer and Staggs will serve as co-chief executives and co-chairmen of the new SPAC, the source said. They had worked with the first Forest Road SPAC as a strategic advisor and director, respectively.

The source requested anonymity ahead of a regulatory disclosure on the SPAC IPO.

Mayer was Disney’s top streaming executive before he left the media giant last year to become the chief executive of popular video app TikTok. He departed the company three months after joining. Staggs worked at Disney for 26 years and held various roles including chief operating officer.

SPACs are shell companies that raise funds to take a private company public. They have gained immense popularity since last year, as they allow companies to go public by eschewing traditional IPOs.

A string of high-profile SPACs have been raised in the last 12 months, including by financial investors William Ackman and Barry Sternlicht, former U.S. House Speaker Paul Ryan and ex-NFL quarterback Colin Kaepernick.

Source: Reuters – Former Disney executives Mayer and Staggs plan new SPAC-source

Source: https://spacfeed.com/former-disney-executives-mayer-and-staggs-plan-new-spac-source?utm_source=rss&utm_medium=rss&utm_campaign=former-disney-executives-mayer-and-staggs-plan-new-spac-source

Continue Reading

Reuters

Global firms raise $546 billion in January as SPAC frenzy continues

Avatar

Published

on

(Reuters) – Companies raised $546 billion from new bond and share issues in January, as a flood of central bank money-printing and recovering stock markets brought record numbers of new listings, SPAC deals and share sales, Refinitiv data showed on Wednesday.

The numbers included $106.15 billion in initial public offerings (IPOs), SPACs and secondary offerings, with the amount of money raised by SPACs alone soaring 20 times to $24.26 billion from a year earlier, the data showed.

Companies also raised nearly $439.9 billion in corporate debt in January, a 5% fall since the same period last year, but still the second largest January in 25 years.

A SPAC, a shell company that raises money in an IPO before later merging with a privately held company to take the latter public, has become many investors structure of choice over the past year.

January’s haul was already 30% of a total $79 billion raised by SPACs in the whole of 2020.

Traditional IPO volumes in the United States, however, remained higher than SPACs in January, hitting a 25-year high of $33.9 billion.

Some 47% new bond and share issues were U.S. offerings in January this year, with China second with $23.96 billion.

Nasdaq was the clear winner among exchanges, with 167 issues raising $41.12 billion, followed by the New York Stock Exchange and the Hong Kong Exchange a close third, with both raking in a little more than $18 billion respectively.

That was in stark contrast to European financial hubs London and Frankfurt, which raised $4.29 billion and $1.72 billion respectively.

Chinese online video company Kuaishou Technology is the biggest IPO globally so far this year, raising $5.42 billion in Hong Kong, followed by Polish parcel locker business InPost SA which raised $3.40 billion in Amsterdam.

Source: Reuters – Global firms raise $546 billion in January as SPAC frenzy continues

Source: https://spacfeed.com/global-firms-raise-546-billion-in-january-as-spac-frenzy-continues?utm_source=rss&utm_medium=rss&utm_campaign=global-firms-raise-546-billion-in-january-as-spac-frenzy-continues

Continue Reading
Esports3 days ago

chessbae removed as moderator from Chess.com amid drama

Esports2 days ago

DreamHack Online Open Ft. Fortnite April Edition – How To Register, Format, Dates, Prize Pool & More

Esports4 days ago

Dota 2 Dawnbreaker Hero Guide

Esports3 days ago

Why did Twitch ban the word “obese” from its predictions?

Esports5 days ago

Dallas Empire escape with a win against Minnesota at the Stage 2 Major

Esports4 days ago

A detailed look at Dawnbreaker, Dota 2’s first new carry in four years

Esports2 days ago

Hikaru Nakamura drops chessbae, apologizes for YouTube strike

Esports4 days ago

Dota 2: Patch 7.29 Analysis Of Top Changes

Esports4 days ago

Dota 2 patch 7.29: Impact of Outposts, Water Runes and other major general gameplay changes

Esports4 days ago

Dota 2: Team Nigma Completes Dota 2 Roster With iLTW

Fintech2 days ago

Australia’s Peppermint Innovation signs agreement with the Philippine’s leading micro-financial services provider

Blockchain5 days ago

Krypto-News Roundup 9. April

Esports5 days ago

xQc calls ZULUL supporters racist for wanting Twitch emote back

Esports5 days ago

Geely Holdings’ LYNK&CO Sponsors LNG Esports’ LPL Team

Esports3 days ago

Hikaru Nakamura accused of striking Eric Hansen’s YouTube channel

Esports3 days ago

Fortnite: Blatant Cheater Finishes Second In A Solo Cash Cup

Esports5 days ago

Mission Control, Tripleclix Team with Hollister for Fortnite Event/Product Launch

Blockchain4 days ago

Revolut integriert 11 neue Kryptowährungen

Esports5 days ago

Patch 7.29 adds Dawnbreaker, removes Necronomicon and brings heroes and map changes

Esports4 days ago

LoL: Blaber Named 2021 LCS Spring Split Honda MVP

Trending