Insight Venture Leads $75M Series D In Cyber Security Startup
Darktrace, a UK cyber defence firm, on Tuesday announced their $75-million Series D funding round led by Insight Venture Partners, allowing the company to increase its expansion in Asia Pacific. Existing investors, Summit Partners, KKR and TenEleven Ventures, a specialised VC firm in cyber security companies, also participated in the round. The company’s valuation has touched $825 million post investment.
UK Government Divestment Rules 'Unlawful', Court Rules
<p>The UK government’s power to keep local authority pension investments in line with national foreign and defence policy has been quashed.</p>
<p>A High Court judge ruled last week that the guidance, announced only last year, had been used unlawfully.</p>
China's Norinco And Saudi Aramco Line Up $10B Refinery Plan
Chinese defence conglomerate China North Industries Group Corp (Norinco) has signed a framework agreement with state-run oil company Saudi Aramco to build a refinery and chemicals complex in northeast China, industry and government officials said on Tuesday.
CSC Renews $40B Custody Mandate
The Commonwealth Superannuation Corporation has renewed custody arrangements for its $40 billion in funds under management.
<p>Northern Trust (NTC) has overseen custody and investment administration for the government employee and Australian Defence Force pension fund since 2011. Following what CSC chief executive Peter Carrigy-Ryan described as a full market review, CSC has reappointed NTC.</p>
One Of Europe's Most Influential Business People Confirms Brexit Has Killed Appetite To Invest In London
One of Europe's most influential industrialists questioned London's future as a financial centre in the wake of Brexit and said the UK is no longer "first on the list" for new investments here. Swedish investor Jacob Wallenberg has a family foundation that holds massive stakes in companies such as pharmaceutical giant AstraZeneca and reformed automaker and now defence group Saab. The stakes generate around $130 billion (£102.9 billion) in revenue.
Germany Backs 2.7% Increase In Infrastructure And Defence Spending
Chancellor Angela Merkel’s Cabinet supports hikes in spending on defence and infrastructure in a budget plan that seeks to address global risks and refugee crisis
India: Birla Corp Buys Reliance Infra’s Cement Business For $710M
Reliance Infrastructure Ltd on Thursday said it has agreed to sell its cement assets to Birla Corp. Ltd for Rs.4,800 crore ($710 million).
Rocky Markets Test The Rise Of Amateur ‘algo’ Traders
University student Spencer Singleton is among a growing band of amateurs turning to computer-driven automated stock trading – until now the preserve of hedge funds and mega brokers – and says he’s beating the market. Texas-based Singleton won a contest last July run by an algorithmic investing website to write trading programmes. The site, Quantopian, gave him $100,000 to put his model into action for six months and told him to keep any profits.
Dealers Hear Whispers That Recruitment Firm Hays' Days Of Independence Could Be Numbered As Company In Takeover Frame Again
<p style="line-height: 18.9091px;">Recruitment firm Hays was the name in the takeover frame, and not for the first time. It has for years been considered a prime bid target and as its shares rose 4.2p to 117.6p on above average turnover, dealers heard whispers yet again that its days of independence could be numbered. Ubiquitous Swiss human resources group Adecco is rumoured to be lining up a £2.1bn or 150p a share cash bid for the company but cash-rich private equity players are also said to be sniffing around.</p>
British Steel Industry Enters 'Death Spiral' After Tata Cuts 1,000 Jobs
The Government was today accused of 'sitting on its hands' as Britain's steel industry entered a 'death spiral' after another 1,000 jobs were axed.