Facebook digital currency to challenge the banks

Original article by James Eyers
The Australian Financial Review – Page: 1 & 20 : 19-Jun-19

Social media giant Facebook has outlined plans to directly compete with financial services providers such as banks and the online payments sector. It aims to offer digital wallet and cryptocurrency products in the first half of 2020. Facebook is a founding member of the Libra Association, which will manage the Libra cryptocurrency, while its digital wallet will be called Calibra. Facebook’s plans can be expected to attract close scrutiny from Australian and international regulators, given the company’s data breach scandal in 2018.

CORPORATES
FACEBOOK INCORPORATED, LIBRA ASSOCIATION, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, RESERVE BANK OF AUSTRALIA, ANDREESSEN HOROWITZ, UNION SQUARE VENTURES, RIBBIT CAPITAL, ALIPAY, TENCENT HOLDINGS LIMITED, AFTERPAY TOUCH GROUP LIMITED – ASX APT, ZIP CO LIMITED – ASX Z1P, APPLE INCORPORATED, GOOGLE INCORPORATED, OFX GROUP LIMITED – ASX OFX, TRANSFERWISE, MASTERCARD INTERNATIONAL INCORPORATED, VISA INTERNATIONAL, PAYPAL INCORPORATED, EBAY INCORPORATED, UBER TECHNOLOGIES INCORPORATED, SPOTIFY LIMITED, VODAFONE GROUP PLC, INTERNATIONAL MONETARY FUND

Henderson, Janus create $US6b giant

Original article by Vesna Poljak, Jessica Gardner
The Australian Financial Review – Page: 13 & 16 : 4-Oct-16

Australian-listed global fund manager Henderson Group will merge with US-based Janus Capital Group. Henderson shareholders will control 57 per cent of the new entity, which will be called Janus Henderson GlobalInvestors and boast $US320bn worth of assets under management. Henderson CEO Andrew Formica and former Pimco executive Dick Weil will be joint CEOs of the merged company, which will be dual-listed on the Australian and New York stock exchanges.

CORPORATES
HENDERSON GROUP PLC – ASX HGG, JANUS CAPITAL GROUP INCORPORATED, JANUS HENDERSON GLOBALINVESTORS, PACIFIC INVESTMENT MANAGEMENT COMPANY LLC

Fears of GFC-style complacency

Original article by Richard Gluyas, Michael Bennet, Annabel Hepworth
The Australian – Page: 20 : 23-Sep-14

An Australian fund manager has raised concerns about the state of financial markets. Dion Hershan, of Goldman Sachs Asset Management, said that markets are becoming similar to markets in 2006 before the global financial crisis. He said that credit spreads are tight, companies are using financial engineering and many have high growth and valuation expectations. Hershan said that rising global interest rates and declining commodity prices have made investors worried about a correction

CORPORATES
GOLDMAN SACHS ASSET MANAGEMENT, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, STANDARD AND POOR’S ASX 200 INDEX, RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, UBS HOLDINGS PTY LTD, GROUP OF TWENTY (G-20), AUSTRALIAN BANKERS’ ASSOCIATION