Americas
Headlines
Grand Cayman is overrun with green iguanas
Blue is the new green THE CAYMAN ISLANDS, a British territory, does not tax companies. So Grand Cayman, its largest part, has more companies (106,000) than people (61,000). Its population of green iguanas greatly outnumbers both. There are perhaps 1.3m of them, more than 6,000 per square kilometre. The lizards, which can be up to 1.5 metres (five...
Colombia’s biggest corruption scandal gets more complicated
ON THE NIGHT of November 8th, Jorge Enrique Pizano’s wife found him lying on the bathroom floor in their house north of Bogotá, the capital, wrapped in a towel and breathing heavily. He died on his way to hospital. The cause was a heart attack, said forensic experts. Three days later, his son, Alejandro, who had returned from Spain for his father’s...
Why Latin American governments spend money badly
IN COSTA RICA’S rainy season, bright mornings yield with deceptive suddenness to tropical downpours. So it was on September 10th, when the country’s civil servants went on strike. They oppose a fiscal reform that raises some taxes and limits automatic wage increases. Universities and public offices were deserted. After blocking roads and a...
Canada debates a gun ban
WHEN A MAN with a rifle charged into Canada’s parliament in 2014, Michelle Rempel, a Conservative politician, was among the people who fled from a caucus room as gunfire rang out around them. Security guards killed the intruder, who had shot a sentry outside. Deeply unsettled by the attack, Ms Rempel pondered a friend’s claim that a ban on...
Water in California
THE FEDERAL government and the state of California seem to love suing each other, and have done so dozens of times in the past two years without causing anyone much damage. But President Donald Trump is now threatening to sue the state over control of water. This could harm a lot of people, because water is the source of the most contentious and...
Finance
Pendo Systems name Ruth Wandhöfer, a globally recognized banking expert, to their Board of Directors
Pendo Systems is proud to announce that Ruth Wandhöfer, Global Head of Regulatory and Market Strategy at Citi, has joined their board. Ms. Wandhöfer is a banking regulatory expert and one of the foremost authorities on transaction banking regulatory matters. Her reputation has been built around her ability to drive regulatory and industry dialogue...
Implications of the money laundering law reform
The amendment to the money laundering law approved in the first debate requires accountants, lawyers and real estate agents to report suspicious transactions made by their clients.Bill 19.951 reforming the Law on Narcotic Drugs, Psychotropic Substances, Drugs of Unauthorized Use, Related Activities, Legalization of Capital and Financing of Terrorism...
Wall Street finishes flat ahead of earnings season, key US-China meeting
It was a fairly flat session on Wall Street overnight, as investors exercised caution ahead of the first-quarter earnings season and a meeting between the US and Chinese presidents later this week. Investors will be focussed on the potentially tense meeting between Donald Trump and Xi Jinping on Thursday and Friday, after Mr Trump held out the possibility...
GLC Advisors Strengthens Advisory and M&A Expertise with Addition of Senior Bankers
Addition of Several Industry Bankers Including Former St. Charles Capital Professionals Deepens Firm’s Expertise and Relationships Across Technology, FIG, Consumer, Retail and Energy IndustriesGLC Advisors & Co., LLC (“GLC Advisors”) is pleased to welcome nine seasoned M&A professionals, including former Partners and professionals of Denver based...
Columbia Threadneedle opens office in Chile
Columbia Threadneedle Investments has opened its first Latin American office in Santiago, Chile. As its first proprietary distribution hub for the Andes (Chile, Peru and Colombia), the new office will serve the asset manager’s institutional and wholesale clients in the region. Columbia Threadneedle has also appointed Santiago Zarauza Riestra...
Legal
Q3 2018 review: venture capital financing and deal activity decline after record-setting H1
PwC and CB Insights recently released their Q3’18 “MoneyTree Canada report” (the Report), which provides an overview of investments in Canadian venture-backed companies. According to the Report, after an exceptional H1’18 (which we’ve covered in an earlier post), Q3’18 has seen a decrease in the number of deals, as well as in dollars invested....
CNN Sues Trump to Restore James Acosta's Press Credentials
President Donald Trump relationship with the media has been less than cordial. And his relationship with CNN has varied somewhere between icy and cold war. At a press conference in England this past summer, he told CNN's chief White House correspondent Jim Acosta, "CNN is fake news, I don't take questions from...
Satan Sues Netflix, and No, It's Not a Horror Flick
The Satanic Temple, a nontheistic religious and activist group, has sued Netflix over the use of the Baphomet statue in the "Chilling Adventures of Sabrina." If you don't know Sabrina, she's an adolescent who wrestles with her half-witch, half-human nature. So yeah, she's a teenager. Baphomet is a medieval deity...
7 Social Media Tips for Law Firms
If your law firm isn't on social media, you are simply missing out on some easy and free marketing that can be done in your downtime from anywhere. Every platform you want to be on has an app that will work on your smartphone, which you can peruse while watching TV, riding the train, or even while using the...
Florida Judge Extends 2018 Midterm Recount Deadline
This Thursday's deadline for the Florida 2018 midterm election recount had been looming as a Florida House hopeful asked the court to extend the deadline. Jim Bonfiglio, who is the mayor of Ocean Ridge, at the last count, was trailing his opponent, Mike Caruso, by only 37 votes. Bonfiglio's emergency request...
Deals
RET Ventures wraps up fund at $108 mln
Real Estate Technology Ventures has closed its inaugural fund at $108 million. Real Estate Technology Ventures I will focus on real estate technology companies. The fund's limited partners include real estate investment trusts, Aimco, Boardwalk, Essex, MidAmerica, UDR, Starwood Capital Group, Cortland and GID.Read More
Propel gathers $18 mln Series B
Santa Clara, California-based Propel, a platform for future brands, has raised $18 million in Series B funding. Norwest Venture Partners led the round. In addition to the funding, Norwest Partner Sean Jacobsohn will join the Propel board.Read More
Software startup Kaloom locks in $10 mln
Montréal and Silicon Valley-based Kaloom, a software startup, has secured $10 million in funding. Fonds de solidarité FTQ and Somel Investments led the round with participation from MBUZZ Investments. This funding raises Kaloom’s total investments to $20.7 million. Read More
Renalytix AI lands $29 mln
UK-based Renalytix AI plc, a developer of artificial intelligence-enabled clinical diagnostics for kidney disease, has secured $29 million in funding. The investors were not named. Read More
AdaSky locks in $20 mln
Israel-based AdaSky, a provider of far-infrared technology for self-driving vehicles, has secured $20 million in funding. The lead investor was Sungwoo Hitech Co. Ltd. Read More
Acq Lite
Statoil using mega-rig to tap frontier North Sea area
March 12 (UPI) -- Norwegian energy company Statoil will move a deepwater drilling rig to the North Sea to tap a prospect awarded more than 30 years ago, a regulator said Monday.The Norwegian Petroleum Directorate gave Statoil consent to move the Deepsea Atlantic drilling rig to a section of the North Sea to tap into a prospect awarded to the company...
Eni deal a testament to Abu Dhabi's attraction
March 12 (UPI) -- In what's nearly a $1 billion commitment, Italian energy company Eni said it made its Emirati debut in an agreement with the Abu Dhabi National Oil Company.Eni signed agreements to acquire minority shares in the Lower Zakum, Umm Shaif and Nasr offshore fields from state-run ADNOC for a total fee of $875 million."The stakes in the two...
German green energy segment Innogy divvied up
March 12 (UPI) -- German utility company E.ON is now in control of the renewable energy segment created by its rival, RWE, in a landmark, multi-billion dollar deal, they said.In a joint statement, E.ON said it reached an agreement in principle with RWE to acquire more than three quarters of the stakes in renewable energy entity Innogy, an offshoot from...
Russia test-fires Kinzhal hypersonic missile
March 11 (UPI) -- A Russian jet successfully test-lauched a hypersonic missile Sunday, the Russian Defense Ministry said.The Kinzhal hypersonic missile was launched from an MiG-31 interceptor jet, which departed from an airfield in the Southern Military District, Russia's TASS News Agency reported."A MiG-31 fighter crew of the Russian Aerospace Forces...
Huntington Ingalls contracted for further repairs on USS Fitzgerald
March 9 (UPI) -- Huntington Ingalls was awarded a contract from the U.S. Navy to continue repairs on the USS Fitzgerald.The deal, announced Thursday by the Department of Defense, is valued at more than $77.5 million under the terms of a cost-plus-fixed-fee contract, which is a modification to a previous award.The modified contract between the U.S. Navy...