Archive for : January, 2019

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Neal Mitra to Lead AKJ Crypto as CEO

AKJ Crypto plc, the leading crypto platform and security token issuer for hedge fund managers and institutional investors, today announced that Neal Mitra has been promoted to the role of Chief Executive Officer. Mitra will replace interim CEO and AKJ Group founder Anders Kvamme Jensen, who will remain the company”s Chairman.

     (Photo: https://mma.prnewswire.com/media/815121/AKJ_Crypto.jpg )

Mitra originally joined AKJ Crypto in 2018 as its Chief Administrative Officer. He was previously with Argon Group, an investment bank focused on cryptocurrency and the token-based capital markets. His career in global financial services and FinTech spans more than two decades, including work as a corporate advisor, venture capital and private equity investor, management consultant and entrepreneur. Mitra has an MBA from Stanford, and Master”s and Bachelor”s degrees from MIT.

Commenting on his appointment Mitra said: ‘I am excited by the opportunity to join a firm that has had long-standing success in the traditional financial services space, while also displaying incredible innovation and thought leadership in the evolution of the digital markets. As the cryptocurrency and token-driven markets normalise, my priorities will focus around bringing to our stakeholders the true potential of this generational opportunity.’

AKJ Chairman, Anders Kvamme Jensen added: ‘We are delighted to have Neal strengthen and lead the AKJ Crypto team. His experience and know-how will ensure that fund managers on our platform enjoy institutional quality servicing and access to crypto markets, and that AKJ token holders gain risk-mitigated, highly diversified  access to the rapidly ascending cryptoeconomy.’

Note to editors:   

About AKJ Crypto plc and AK Jensen Group  

AKJ Crypto plc, a subsidiary of AK Jensen Group, provides a full service platform for crypto hedge fund managers, and diversified participation for institutional investors – through the AKJ Token – in the cryptoeconomy.  The turnkey platform includes fund formation, legal and regulatory infrastructure, trading systems, back office support, and seed capital.

AK Jensen Group Limited and its subsidiaries, established in 1995, is owned by shareholders, who, combined, have more than US$18 billion in assets under management. The group serves hedge fund and institutional clients in 35 countries around the world.

For more information about AKJ Crypto visit: https://www.akjtoken.com

VALLETTA, Malta, January 31, 2019 /PRNewswire/ —

post image

Neal Mitra to Lead AKJ Crypto as CEO

AKJ Crypto plc, the leading crypto platform and security token issuer for hedge fund managers and institutional investors, today announced that Neal Mitra has been promoted to the role of Chief Executive Officer. Mitra will replace interim CEO and AKJ Group founder Anders Kvamme Jensen, who will remain the company”s Chairman.

     (Photo: https://mma.prnewswire.com/media/815121/AKJ_Crypto.jpg )

Mitra originally joined AKJ Crypto in 2018 as its Chief Administrative Officer. He was previously with Argon Group, an investment bank focused on cryptocurrency and the token-based capital markets. His career in global financial services and FinTech spans more than two decades, including work as a corporate advisor, venture capital and private equity investor, management consultant and entrepreneur. Mitra has an MBA from Stanford, and Master”s and Bachelor”s degrees from MIT.

Commenting on his appointment Mitra said: ‘I am excited by the opportunity to join a firm that has had long-standing success in the traditional financial services space, while also displaying incredible innovation and thought leadership in the evolution of the digital markets. As the cryptocurrency and token-driven markets normalise, my priorities will focus around bringing to our stakeholders the true potential of this generational opportunity.’

AKJ Chairman, Anders Kvamme Jensen added: ‘We are delighted to have Neal strengthen and lead the AKJ Crypto team. His experience and know-how will ensure that fund managers on our platform enjoy institutional quality servicing and access to crypto markets, and that AKJ token holders gain risk-mitigated, highly diversified  access to the rapidly ascending cryptoeconomy.’

Note to editors:   

About AKJ Crypto plc and AK Jensen Group  

AKJ Crypto plc, a subsidiary of AK Jensen Group, provides a full service platform for crypto hedge fund managers, and diversified participation for institutional investors – through the AKJ Token – in the cryptoeconomy.  The turnkey platform includes fund formation, legal and regulatory infrastructure, trading systems, back office support, and seed capital.

AK Jensen Group Limited and its subsidiaries, established in 1995, is owned by shareholders, who, combined, have more than US$18 billion in assets under management. The group serves hedge fund and institutional clients in 35 countries around the world.

For more information about AKJ Crypto visit: https://www.akjtoken.com

VALLETTA, Malta, January 31, 2019 /PRNewswire/ —

BDI President Kempf: Strengthen the European Union to Better Compete With China

  • The organisation formulates 54 demands addressed to the German Federal Government and the European Commission
  • Making the market economy more resilient
  • Calls for new security controls on foreign investments

The President of the Federation of German Industries (BDI), Dieter Kempf, has called on the German Federal Government and the European Commission to strengthen the European Union (EU) in the face of competition with China. The BDI has outlined 54 demands addressed to Berlin and Brussels for the New Year in order to better meet the growing challenges posed by the state-dominated Chinese economy. The demands are summarized in a new policy paper which the BDI published on 10 January in Berlin, titled ‘Partner and systemic competitor – How do we deal with China”s state-controlled economy?’

Contrary to what was previously expected, China will not develop into a market economy or embrace liberalism in the foreseeable future. ‘The People”s Republic is establishing its own political, economic and social model,’ Kempf said. The country has entered into systemic competition with liberal market economies such as Germany. This development must be assessed realistically to develop a response.

Kempf made it clear that China remains the driving force of the global economy and an important sales and procurement market for German industry. As such, German industry wants to continue to use the opportunities of economic exchange with China. ‘However, no one should simply ignore the challenges China poses to the EU and Germany.’

In the policy paper, the BDI calls for a strengthened economic policy framework for the European single market. This should ensure that companies from non-market economy countries are bound to the liberal market economy regulations of the EU if they want to be active in Europe. It is more important than ever for the EU to not only point out the significance and binding force of its order and values internally, but also to more forcefully advocate them externally.

‘It is essential that the German government once again becomes the standard bearer for a stronger EU,’ demanded the BDI President. At the same time, Germany and the EU must invest significantly more in research, development, education, infrastructure and future technologies. ‘The EU needs an ambitious industrial policy for its leading companies that focusses on innovation, intelligent regulation, social partnership, infrastructure and free trade.’

The Federation of German Industries proposes sharpening EU state aid legislation and anti-subsidy instruments. Europe must take effective action against companies that do not produce in the EU and receive state subsidies. Therefore, the BDI advocates introducing a new type of subsidy control for foreign investments. This should help control state-financed takeovers of European technology companies and prevent them if necessary. High quality standards should become a must in public procurement. Dumping prices offered by foreign suppliers must be investigated for potential subsidies. The 54 demands should be a compass in the political debate.

‘The German industry measures the Chinese government by its own internationally announced obligations. It is in Beijing”s own interest to open up its domestic market further and to vigorously implement long-announced economic reforms,’ explained Kempf. The faster China creates competitive equality between Chinese and EU companies on the world market through economic reforms and market openings, the fewer new control instruments will need to be used.

The German-Chinese trade volume last reached 187 billion euros, almost 30 per cent of the total trade between the EU and the People”s Republic (2017). China is Germany”s most important trading partner outside the EU. German exports to and imports from China amounted to 86 billion and 101 billion euros respectively.  

According to the latest official figures, German direct investment in China totalled 76 billion euros (2016). Approximately 5,200 German companies with over one million employees were active in China. The BDI estimates the stock of Chinese investments in Germany at the end of 2017 to be 13 billion euros.  

You can read the BDI policy paper on China here:
https://english.bdi.eu/media/publications/#/publication/news/china-partner-and-systemic-competitor

The Federation of German Industries (BDI) is the umbrella organization of German industry and industry-related services. It speaks for 35 trade associations and more than 100,000 enterprises with around 8 million employees in Germany and 3.5 million employees in other countries. Membership is voluntary. 15 organizations in the regional states represent the interests of industry at the regional level.  

The Federation
of German Industries 

Member association of
BUSINESSEUROPE

Contact numbers 
T: +49-(0)30-2028-1479
F: +49-(0)30-2028-2479

Website 
http://www.bdi.eu

Email 
Presse@bdi.eu

BERLIN, January 10, 2019 /PRNewswire/ —

Financialbuzz.com: ‘Apple’s Announcement Rattles the Market’ Video Recap Week Ending January 4th, 2019

FinancialBuzz.com News Commentary

U.S. stocks opened lower to begin the new year over concerns of China”s slowed economic growth. Despite the weaker start, stocks quickly rebounded throughout Wednesday, led by technology and bank stocks. Tech stocks like Amazon.com Inc. gained as much as 4.2% from the opening bell on Wednesday, while Facebook jumped by as much as 5%. Bank stocks also saw a sharp rebound, led by The Goldman Sachs Group, which saw its shares rise by 4.6%, while JPMorgan Chase & Co.”s shares rose by 3.2% and Bank of America Corporation”s shares jumped by 3.9%. Despite the rebound occurring throughout Wednesday, markets crashed during extended trading hours after Apple, Inc. lowered its first-quarter revenue guidance. Apple shares fell by as much as 9% during after-market hours following Chief Executive Officer Tim Cook revised revenue expectations. Now, Apple projects revenues of USD 84 Billion, as opposed to its previous forecast of USD 89 Billion – USD 93 Billion. Cook said the lowered guidance is primarily a result of weaker economic growth in Greater China, as Apple faced a 100% revenue decline year over year across its iPhone, Mac and iPad products in China. Since Monday, the Dow Jones Industrial Average fell by 604.13 points or 2.5%. The Nasdaq Composite declined by 169.85 points, or 2.5%, while the S&P 500 Index fell by 54.91 points or 2.1%. Tesla, Inc. (NASDAQ: TSLA), Apple Inc. (NASDAQ: AAPL), Celgene Corporation (NASDAQ: CELG), Delta Air Lines, Inc. (NYSE: DAL), General Motors Company (NYSE: GM)

‘We ended 2018 with worries about growth and earnings, and in the first two days of 2019 we”ve received more bad Chinese data and an AAPL revenue guidance cut,’ Tom Essaye, president of the Sevens Report, wrote in a Thursday-morning note to clients, according to MarketWatch. ‘Neither of those events should be material surprises (China”s been weak for a while and analysts have been cutting estimates on AAPL for months), but if we”re going to sustain a rally this market needs actual good news, and there hasn”t been much lately,’ he added.

For our latest ‘Buzz on the Street’ Show featuring the ‘Market Meltdown’ please visit: https://www.youtube.com/watch?v=4yh6QLbP7vM 

Tesla, Inc. (NASDAQ: TSLA) shares fell by over 8% on Wednesday morning after the electric automaker reported on Tuesday that less than expected Model 3 deliveries were made in the fourth quarter. Tesla delivered 63,150 Model 3s in the quarter, lower than estimates of 64,900. However, deliveries fell in line with the Company”s expectations. Previously in the third quarter, Tesla forecast increased production rates for the fourth quarter, which set expectations higher. Despite the weaker than expected Model 3 deliveries, Tesla still delivered a total of 245,240 vehicles.

For our latest ‘Buzz on the Street’ Show featuring the ‘Market Meltdown’ please visit: https://www.youtube.com/watch?v=4yh6QLbP7vM

Apple Inc. (NASDAQ: AAPL) shares plummeted on Wednesday after Chief Executive Officer Tim Cook slashed the Company”s first quarter revenue guidance. Apple shares fell by as much as 9% during after-market hours, which led to a short halt. Cook said in the letter to investors that Apple now expects revenue of approximately USD 84 Billion compared to its previous guidance of USD 89 Billion to USD 93 Billion. Cook said the lowered revenue expectations is primarily due to economic weakness in Greater China, as Apple faced a 100% revenue decline year over year across its iPhone, Mac and iPad products in China.

For our latest ‘Buzz on the Street’ Show featuring the ‘Market Meltdown’ please visit: https://www.youtube.com/watch?v=4yh6QLbP7vM

Celgene Corporation (NASDAQ: CELG) shares skyrocketed on Thursday after Bristol-Myers Squibb Company (NYSE: BMY) announced that it will acquire the biotechnology company in a transaction valued at approximately USD 74 Billion. Celgene shares rose by 26% after the opening bell. The two major biotechnology companies will further accelerate medicine for patients with cancer, inflammatory, immunologic disease and cardiovascular disease. Bristol-Myers is expected to own approximately 69% of the Celgene, while Celgene maintains the remaining 31%. The transaction is expected to close in the third quarter of 2019.

For our latest ‘Buzz on the Street’ Show featuring the ‘Market Meltdown’ please visit: https://www.youtube.com/watch?v=4yh6QLbP7vM

Delta Air Lines, Inc. (NYSE: DAL) shares slipped by 10% on Thursday after the Company forecast slightly lower revenue growth in its December operational update. Delta said that it expects fourth-quarter earnings per share to fall in between the range of USD 1.25 to USD 1.30 per share, at the high end of its initial guidance provided in October. The airline projects total unit revenue to rise about 3%, compared to its previous forecast of 3.5%. Total revenue is expected to increase by approximately 7% year over year, however. Delta is expected to report its fourth quarter financial results in mid-January.

For our latest ‘Buzz on the Street’ Show featuring the ‘Market Meltdown’ please visit: https://www.youtube.com/watch?v=4yh6QLbP7vM

General Motors Company (NYSE: GM) shares fell by 3.2% on Thursday after the automaker reported its 2018 vehicle delivery results. General Motors reported that fourth-quarter sales fell by 2.7%, with declines across its Chevrolet, Cadillac and Buick brands. As for the full year, General Motors reported total vehicle deliveries of 2.95 million, which fell by 1.6% year over year. The weaker than expected deliveries was driven by declines among the Company”s popular models like the Buick Cascada, Buick Envision, Cadillac Escalade, Chevrolet Impala and GMC Savana.

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NEW YORK, January 4, 2019 /PRNewswire/ —

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