All posts tagged: investors

Barclays reveals revival plan to woo investors as profits fall | Business News

Barclays reveals revival plan to woo investors as profits fall | Business News

Barclays has revealed a revival plan to shore up support among investors that includes cutting costs and risk while bolstering returns. The UK-based lender’s shake-up, that Sky News reported last month had already resulted in 5,000 job losses, will also see an overhaul of management, some business disposals and £10bn returned to shareholders over three years. A total of £3bn was planned for 2023 – up 37% on the previous year. The plan was announced as Barclays reported a 6% decline in annual pre-tax profits to £6.6bn. Shares, down by more than 3% in the year to date ahead of the updates, rose by 6% at the open. Chief executive CS Venkatakrishnan, known as Venkat, told investors: “Our new three-year plan… is designed to further improve Barclays’ operational and financial performance, driving higher returns, and predictable, attractive shareholder distributions.” He had previously pledged to listen to a growing number of investors seeking a streamlined business model and improved returns as the bank’s share price lagged those of rivals. Money latest: Council tax to rise by …

Crypto exits remain low but investors remain unfazed

Crypto exits remain low but investors remain unfazed

The global venture capital market is enduring a long period of limited exits. Startups are staying private longer, M&A is quiet in part due to sharpened regulatory oversight, and the IPO market remains frozen. This means many historical venture deals are slowly rotting on the vine, in IRR terms. The crypto market is no different, but some investors in the space are unfazed. New data from PitchBook’s Q4 2023 Crypto Report makes it clear that if the larger startup market is suffering from an exit drought, crypto startups are possibly even more parched. The lack of crypto startup exit volume — and value — can be linked to a related decline in total venture investment into upstart web3 companies; when liquidity is light, investment return prospects can darken. The good news for crypto founders is that despite slim chances at selling their company, venture capital investment ticked 2.5% higher in Q4 2023 compared to the third quarter, though deal volume fell a similar percentage. The fourth quarter was consistent with the “low-level activity seen throughout …

Runescape maker Jagex sold to investors for estimated .1B

Runescape maker Jagex sold to investors for estimated $1.1B

Are you looking to showcase your brand in front of the gaming industry’s top leaders? Learn more about GamesBeat Summit sponsorship opportunities here.  Global investment firm Carlyle and CVC have agreed to sell Runescape maker Jagex to CVC Capital Partners Fund VIII and Haveli Investments. The deal is reportedly worth $1.1 billion, according to a story in the Financial Times. Jagex is known for its key RuneScape titles, the massive multiplayer online role playing (MMORPG) game started 20 years ago. The live service game has a community of 2.4 million active subscribers and one million free-to-play users, with over 300 million lifetime RuneScape accounts. Founded in 2000 and based in Cambridge, United Kingdom, Jagex is one of the largest and most successful British video game studios, developing and publishing video games on PC and mobile – with about 700 employees. Carlyle invested in Jagex through Carlyle Partners VII, Carlyle’s flagship U.S. buyout fund, and Carlyle Europe Technology Partners. Carlyle made its investment in Jagex in 2021. GB Event GamesBeat Summit Call for Speakers We’re thrilled …

VC investors put billions in Chinese tech: U.S. congressional report

VC investors put billions in Chinese tech: U.S. congressional report

Rep. Mike Gallagher, center, chair of the House Select Committee on the Chinese Communist Party, speaks at a news conference following a GOP caucus meeting at the Republican National Committee offices in Washington, D.C., on Feb. 28, 2023. He is joined by fellow Republicans Rep. Elise Stefanik, left, and Majority Whip Steve Scalise. Chip Somodevilla | Getty Images Sequoia Capital China, Qualcomm Ventures and three other venture capital firms plowed at least $3 billion into Chinese tech companies that support Beijing’s military and its repression of minorities in Xinjiang, a U.S. congressional report alleged on Thursday. The House of Representatives’ select committee on China, led by Republican Congressman Mike Gallagher, released the report, which also scrutinizes investments made by GGV Capital, GSR Ventures and Walden International in Chinese artificial intelligence and semiconductor firms with unsavory ties. Reuters could not reach the venture capital firms for comment. The Committee called on the Biden administration to restrict U.S. investment in Chinese firms sanctioned by the U.S. government over ties to China’s military or its repression of minorities …

As investors pile into psychedelics, idealism gives way to pharma economics

As investors pile into psychedelics, idealism gives way to pharma economics

Money is pouring into the fledgling psychedelic medicine industry, with dozens of startup companies vying to be among the first to sell mind-expanding drugs for depression, addiction and other mental health conditions. While psychedelics are still illegal under federal law, companies are jostling to try and patent key ingredients found in magic mushrooms, ayahuasca and other substances that have been used underground for decades or — in some cases — for millennia by indigenous cultures. Wall Street’s sudden exuberance for hallucinogens has rankled longtime advocates and philanthropists, who dreamed of making low-cost psychedelics widely available for mental health and personal growth. Instead, many now see a very different future for drugs like psilocybin and LSD: as expensive, specialty medications controlled by a handful of biotech companies. “It’s disappointing,” said Carey Turnbull, an investor and philanthropist who sits on the board of several psychedelic nonprofits. “All the air is getting sucked out of the room by these for-profit companies who say, ‘Wow, this stuff is awesome, if I could patent it I’d make a fortune.’” Since …

Byju’s says investors don’t have voting right to remove founder from edtech group

Byju’s says investors don’t have voting right to remove founder from edtech group

After months of private scuffles, Byju’s and some of its largest investors are now taking their fight public. Byju’s, once India’s most valuable startup, said Friday its investors do not have the voting right to seek leadership changes, a day after a group of shareholders called for an extraordinary general meeting to remove founder Byju Raveendran and his family from the top roles at the edtech group. In a press release, Byju’s said it will continue its deliberation to raise $200 million in a rights issue, for which it has received “encouraging responses from multiple investors.” Investors including Prosus, General Atlantic, Peak XV, Chan Zuckerberg Initiative said in a statement Thursday that they seek a resolution of the “outstanding governance, financial mismanagement and compliance issues; the reconstitution of the Board of Directors, so that it is no longer controlled by the founders of T&L; and a change in leadership of the Company.” That was the third time the investors had sought an EGM meeting. The new request follows Byju’s launching a rights issue to raise …

Investors punish Microsoft, Alphabet as AI returns fall short of lofty expectations

Investors punish Microsoft, Alphabet as AI returns fall short of lofty expectations

Tech giants on Tuesday talked up how customers are lapping up their generative AI-powered products, but mounting costs of developing the cutting-edge features irked investors hoping for a big boost to sales from the new technology. Alphabet shares fell 6 per cent, while those of Microsoft were down about 2 per cent in premarket trading, bringing down heavyweight tech stocks including Apple, Meta and Amazon. Both Microsoft and Alphabet reported generous increases to their cloud revenue in the December quarter, beating Wall Street estimates, as customers lined up to test these new AI features and build their own AI services. But costs surged as well, highlighting the heavy investments these companies are making in servers, data centers and research as they compete fiercely for new customer dollars. Google and Microsoft’s stock drop have put them on track to lose about $59 billion and $56 billion in market value, respectively. This underscored elevated investor expectations following a stock rally in recent months, fueled by the promise of AI that has propelled their shares to record highs. …

Top investors give green light to bigger FTSE pay packages | Business News

Top investors give green light to bigger FTSE pay packages | Business News

Institutional investors in Britain’s biggest public companies are to pave the way for bigger boardroom pay packages amid arguments from corporate chiefs that “restraint” over remuneration is causing irreversible damage to London’s stock market. Sky News has obtained the draft of a letter from the Investment Association, whose members collectively manage £8.8trn in assets, to the chairs of FTSE 350 remuneration committees in which it signals a significant change in its stance towards bosses’ pay. In the letter, which is expected to be released publicly within days, the IA says it intends to conduct a “fundamental review of the Principles of Remuneration [later this year] … reflecting the evolving member expectations on remuneration and feedback from companies”. The IA said it acknowledged feedback from companies – particularly the largest in the FTSE 100 – that they were finding it increasingly challenging to “attract US executives and compete in the US market” because of the gulf between pay deals for bosses working for London and New York-listed businesses. Money latest: Primark ‘sorry’ over new accessible lingerie …

Evergrande collapse means foreign investors in China face even greater uncertainty | Evergrande

Evergrande collapse means foreign investors in China face even greater uncertainty | Evergrande

As China’s most embattled – and indebted – property developer is ordered to liquidate, the effects that Evergrande’s collapse will have on investors, debt holders and the hundreds of thousands of homebuyers who have paid deposits for homes remains uncertain. Evergrande, the Chinese property developer, was worth just $275m on Monday, down 99% from its peak in 2017. It owes more than $300bn to various creditors, according to its most recent financial report. In a scathing judgment delivered in Hong Kong’s high court on Monday, Justice Linda Chan said “enough is enough”. “It is indisputable that the company is grossly insolvent and is unable to pay its debts,” Chan wrote, as she ordered the company to liquidate its assets. But enforcing that order will be the next challenge and the queue of creditors who are lining up is likely to remain for many months. Evergrande can still appeal against Monday’s ruling. More importantly, over 90% of its assets – which include more than 1,300 housing projects in 280 cities – are in mainland China, a …

Pastor Accused of Defrauding Investors of M Via Crypto Scheme Says He Got Help From ‘The Lord’

Pastor Accused of Defrauding Investors of $3M Via Crypto Scheme Says He Got Help From ‘The Lord’

DENVER (AP) — A Colorado pastor for an online church who is accused of defrauding investors of more than $3.2 million through a cryptocurrency marketplace he ran with his wife says “the Lord” helped him orchestrate the venture. Colorado’s securities commissioner filed civil fraud charges against Eli Regalado and his wife Kaitlyn Regalado, saying the Denver couple targeted the Christian community and told followers that God would make them rich if they invested in a cryptocurrency he created called INDXcoin. Investigators with the Colorado Division of Securities found that from June 2022 to April 2023, INDXcoin raised about $3.2 million from more than 300 people who invested in the “illiquid” and “essentially worthless” currency, according to the complaint filed Jan. 16. Investigators said the Regalados, who ran a cryptocurrency marketplace called the Kingdom Wealth Exchange, used at least $1.3 million of those funds to support a lavish lifestyle that included tens of thousands of dollars spent on vacations, jewelry, luxury handbags, cosmetic dentistry, clothes and home renovations. The two, who shut down the exchange Nov. …