Bepace, 42, chemin de Vers, Plan-les-Ouates (2026)

13/09/2023

The European Central Bank expects inflation in the 20-nation euro zone to remain above 3% next year, bolstering the case for a tenth consecutive interest rate increase on Thursday, a source with direct knowledge of the discussion told Reuters on Tuesday.
The ECB begins a two-day meeting on Wednesday, with persistently high inflation and rising recession fears pulling policymakers in opposing directions and keeping market expectations equally divided between a pause and another 25-basis-point hike.

An ECB spokesman declined to comment.

The ECB's quarterly projections, set to be presented to its Governing Council on Wednesday, will put inflation north of 3% in 2024, the source said, confounding expectations for a small cut. The updated 2024 projection is well above the central bank's 2% target and will be higher than the 3% forecast in June. It is also above the 2.7% seen in a Reuters poll of economists.

The source said the rate decision was still a close call and formal proposals for the meeting have not yet been presented.
But the closely watched 2024 figure adds to the case for a rate hike as it appears to confirm fears that it could be harder to bring down inflation than earlier thought.

The ECB has lifted its deposit rate to 3.75% from minus 0.50 in a span of 14 months, the fastest pace of tightening on record, all in the hope that it would arrest runaway price growth.But both headline and underlying inflation remain above 5%, raising the risk that workers will start demanding bigger pay increases, especially because the labour market remains exceptionally tight.

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16/05/2023

Today, the European Union states gave the final nod to the world's first comprehensive set of rules to regulate cryptoassets on Tuesday, piling pressure on countries such as Britain and the United States to play catch up.

An EU finance minister meeting in Brussels approved rules that were thrashed out with the European Parliament, which gave its approval in April.

Regulating crypto has become more urgent for regulators after the collapse of crypto exchange FTX.

"Recent events have confirmed the urgent need for imposing rules which will better protect Europeans who have invested in these assets, and prevent the misuse of crypto industry for the purposes of money laundering and financing of terrorism," said
Elisabeth Svantesson, finance minister for Sweden, which holds the EU presidency.

The rules require firms that want to issue, trade and safeguard cryptoassets, tokenised assets and stablecoins in the 27 country bloc to obtain a licence.

Crypto firms say they want certainty in regulation, putting pressure on countries to copy the EU rules, and on regulators to come up with global norms for a cross-border activity.

Britain has outlined a phased approach, starting with stablecoins and broadening out to unbacked cryptoassets later on, but there is no firm timetable.

The United States has focused on using existing securities rules for enforcement action in the sector while it decides on whether to introduce bespoke new rules and who would apply them.

Hester Peirce, one of the commissioners at the U.S. derivatives regulator CFTC, said last week that a number of federal and state authorities are trying to figure out what oversight role they could play in the crypto sector.

"We are wandering the in the desert a bit," Peirce told a conference

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15/05/2023

Silicon Valley automotive ethernet chip startup Ethernovia raises $64 mln

SILICON Valley automotive ethernet chip startup Ethernovia Inc said on Monday (May 15) it had raised US$64 million in a Series A funding round including Porsche Automobil, Qualcomm Ventures, VentureTech Alliance and others.

As automakers pivot to electric vehicles with more driver assistance functions, they are revamping the electronics to eliminate dozens of cables that crisscross the car linking up over 100 microchips. Instead, they are building a central computer to control everything from camera and radar sensors to the windows and the entertainment dashboard.

Ramin Shirani, Ethernovia’s co-founder and CEO, said he started the company in 2018 to build a single ethernet network in the car that would be the backbone for these new vehicles.

“We’re not the brains of the car. We’re not the sensors of the car. But anything that connects the brains to the sensors, that’s where we are,” Shirani told Reuters.

Ethernovia has created a family of ethernet chips and software that help simplify the electronics architecture of the car, he said.

The company said that the funding would be used to continue developing the products and to build up a team for marketing, sales and customer support. It declined to share the latest company valuation.

Source : reuters

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12/05/2023

Vast, a startup backed by cryptocurrency billionaire Jed McCaleb, is aiming to launch a school bus-sized space station to orbit by late 2025 with some help from partner SpaceX, Elon Musk's rocket firm.

The cylindrical spacecraft dubbed Haven-1 is the latest platform planned as a replacement to the International Space Station, a two-decade-old orbital research laboratory run primarily by the U.S., Russia and the European Space Agency.

The ISS is expected to retire in 2030 and the National Aeronautics and Space Administration (NASA) wants commercial space stations to replace the ISS.

The agency in 2021 awarded $415 million in development funds to four companies including Northrop Grumman NOC.N and billionaire Jeff Bezos' Blue Origin.

Vast wasn't among the awardees, but hopes to receive some NASA funding by 2028, the company's president, Max Haot, told Reuters on Monday.

NASA did not respond to an email seeking comment.

No private company has ever built and deployed a space station. The football field-sized ISS, built over multiple launches and outfitted over its lifetime with various components, cost the participating countries more than $100 billion combined.

Making the construction of a novel space station more ambitious is a current drought in private capital as investors seek less risky bets.

McCaleb, worth $2.4 billion according to Forbes, will back the spacecraft's development and has so far committed $300 million to the company.

The total cost for Haven-1's development "remains to be seen," McCaleb, also Vast's CEO, said in an interview.

"I think it'll take a bit more than that, but we'll see."

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03/05/2023

Thailand is in talks with China’s CATL and other battery makers to build production facilities in Southeast Asia’s second-largest economy that has ambitions to become a regional EV production hub, a government official said.

These discussions come as Thailand, a regional autos hub, pushes to become a key player in the global electric vehicle (EV) supply chain outside of China by offering tax cuts and subsidies to drive EV adoption and production.

“We are talking to many companies, not only CATL but many companies in the battery industry,” said Narit Therdsteerasukdi, Secretary General of Thailand Board of Investment (BOI).

“This is one of our goals. That we would like to attract battery cell producers to set up their factory in Thailand.”

Narit did not give details and it was not clear how advanced the discussions were.

CATL, or Contemporary Amperex Technology Co Ltd, did not immediately respond to a request for comment.

CATL, the world’s dominant battery supplier with a 37% market share, currently has no production facilities in Southeast Asia, its website shows.

The Ningde, Fujian-based company last year announced a strategic collaboration with a subsidiary of Thai energy major PTT Pcl to “explore potential cooperation and development opportunities in battery-related business” in the region.

ARUN PLUS, the PTT subsidiary, is part of a joint venture with Taiwan’s Foxconn that is building a facility with a goal of manufacturing EVs in Thailand as early as 2024.

Thailand is the tenth-largest auto manufacturing economy with production dominated by Japanese automakers including Toyota and Isuzu.

By 2030, Thailand aims to convert around 30% of its annual production of 2.5 million vehicles into EVs, according to a government plan.

In the past few years, Thailand has drawn investments from EV companies, mainly Chinese, including Great Wall Motors and BYD Co.

Source : reuters

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01/05/2023

Mastercard will expand its cryptocurrency payment card programme by seeking more partnerships with crypto firms, the company’s head of crypto and blockchain said, even as the sector comes under closer scrutiny from regulators and banks grow wary.

Mastercard has already partnered with crypto exchanges including Binance, Nexo and Gemini to offer crypto-linked payment cards in some countries. The Binance cards allow users to make payments in traditional currencies, funded by their cryptocurrency holdings on the exchange.

“We have dozens of partners around the world who offer crypto card programmes and they continue to expand,” Raj Dhamodharan, Mastercard’s head of crypto and blockchain, told Reuters on Thursday.

“Providing access to crypto in a safe way is also part of our value proposition and we’re continuing to do that.”

Banks have become wary of crypto clients after a number of big crypto firms collapsed last year, including the bankruptcy of major exchange FTX. Meanwhile, U.S. regulators are increasingly cracking down on what they say is a lack of compliance in the market.

In March, the U.S. Commodity Futures Trading Commission sued Binance, accusing the world’s largest crypto exchange of operating what the regulator called an “illegal” exchange and a “sham” compliance program.

Binance CEO Changpeng Zhao said the complaint contained an “incomplete recitation of facts”.

Dhamodharan declined to comment on Binance specifically, but said any card programme “goes through full due diligence” and is continuously monitored.

Source : reuters

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27/04/2023

INFINOX is now Bepace-Certified

INFINOX has become a Bepace Certified Corporation, a status given to online brokers that meet highest standards of compliance and regulatory performance, and business credibility. The FX & CFD broker founded in 2009 is the latest to join a growing number of companies adopting the Bepace Certification Label and Trust Index. Thanks to this accreditation, clients of INFINOX can be certain that they are trading with a reputable partner.

Bepace awarded its top Gold Trust Index and highest number of Five stars to this broker enabling anyone to trade Stocks, ETFs, Forex, Commodities, Crypto and more on 15+ markets.

Evaluated in great detail
To become a Bepace Certified Corporation, companies undergo a detailed assessment process that measures all aspects of their business operations. Bepace awards a Gold, Silver, or Bronze Certification Label based on the outcome of its audit and provides the Bepace Trust Index with a simple 1 - 5 star rating system. The company that has achieved Bepace Certification gets access to ready-to-use marketing, sales, financial services, or other apps. The certified company is also listed in the Bepace Directory.

More than a one-time action
Getting a Bepace Certification is not a one-time action; every company needs to re-certify once a year. This ensures the company's process quality and customer trust on an ongoing basis.
International standard for five business areas
Bepace provides a new international certification standard for businesses operating in five cutting-edge sectors: online brokers; e-commerce; online gaming and gambling; cryptocurrency exchange, online payments and blockchain technology. If your business earns the Trust Index and displays the Certification Label, you may be certain that you are communicating with your customers in a transparent and effective manner. Our team in Geneva, rooted in the Swiss governance tradition, will analyze your company's impact on its industry, customers, and value proposition to ensure that your Bepace Certified Business grows steadily, provides excellent customer service, and has positive social impact.

Bepace Business Certification Label and Trust Index

26/04/2023

Trading 212: The latest Bepace-Certified Corporation

Trading 212 has become a Bepace Certified Corporation, a status given to online brokers that meet highest standards of compliance and regulatory performance, and business credibility. The online broker offering commission-free investing for everyone is the latest to join a growing number of companies adopting the Bepace Certification Label and Trust Index to comply with consumers' growing demand for transparency in online business.
Thanks to this accreditation, clients of Trading 212 can be certain that they are trading with a reputable partner. Bepace awarded its top Gold Trust Index and highest number of Five stars to this fintech enabling anyone to trade Stocks, ETFs, Forex, Commodities, and more.

Companies that want to become a Bepace Certified Corporation must first pass a comprehensive assessment covering every facet of their operations. Bepace grants a Gold, Silver, or Bronze Certification Label and gives a straightforward 1–5 star rating system via its Bepace Trust Index based on its audit. The company that has achieved Bepace Certification gets access to ready-to-use marketing, sales, financial services, or other apps. The certified company is also listed in the Bepace Directory.

Getting a Bepace Certification is not a one-time action; every company needs to re-certify once a year. This ensures the company's process quality and customer trust on an ongoing basis.
Bepace provides a new international certification standard for businesses operating in five cutting-edge sectors: online brokers; e-commerce; online gaming and gambling; cryptocurrency exchange, online payments and blockchain technology. If your business earns the Trust Index and displays the Certification Label, you may be certain that you are communicating with your customers in a transparent and effective manner. Our team in Geneva, rooted in the Swiss governance tradition, will analyze your company's impact on its industry, customers, and value proposition to ensure that your Bepace Certified Business grows steadily, provides excellent customer service, and has positive social impact.

Bepace Business Certification Label and Trust Index

24/04/2023

VIDA MARKETS IS NOW A BEPACE-CERTIFIED COMPANY

Vida Markets has become a Bepace Certified Corporation, a status given to online brokers that meet highest standards of compliance and regulatory performance, and business credibility. The online broker is the latest to join a growing number of companies adopting the Bepace Certification Label and Trust Index to comply with consumers' growing demand for transparency in online business. Thanks to this accreditation, clients of Vida Markets can be certain that they are trading with a reputable broker. Bepace awarded its top Gold Trust Index to this internationally renowned FX & CFD broker.

Getting a Bepace certification is not a one-time action; every company needs to re-certify once a year. This ensures the company's process quality and customer trust on an ongoing basis.
Bepace provides a new international certification standard for businesses operating in five cutting-edge sectors: online brokers; e-commerce; online gaming and gambling; cryptocurrency exchange, online payments and blockchain technology. If your business earns the Trust Index and displays the Certification Label, you may be certain that you are communicating with your customers in a transparent and effective manner. Our team in Geneva, rooted in the Swiss governance tradition, will analyze your company's impact on its industry, customers, and value proposition to ensure that your Bepace Certified Business grows steadily, provides excellent customer service, and has positive social impact.

To order a certification from Bepace, visit our website and follow us on Instagram, LinkedIn, Facebook and Twitter for the latest updates.

Certification URL : https://bepace.com/corporation/vidamarkets/

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19/04/2023

Credit Agricole and Worldline plan French payments business

Credit Agricole and payment services company Worldline have begun exclusive talks to set up a joint venture to provide payment services to businesses and their customers, they said on Wednesday.

The proposed tie-up aims to tap the 700 billion euros ($767.6 billion) of merchant sales in France, the companies said in a joint statement, with customers increasingly moving from cash to card payments.

Worldline's shares opened up 8.5% after the announcement, while Credit Agricole (EPA:CAGR)'s stock was up 0.4%

The two companies said there is room for growth in French digital payments market, where volumes of payments in cash are at around 40%.

The joint-venture, slated to be fully operational by 2025, would be majority owned by Worldline and fully consolidated in the payments company's accounts, they said.

It will involve an investment of 80 million euros, shared equally between Worldline and Credit Agricole, they said.

Credit Agricole has a target to increase sales stemming from payments by 20% by 2025.

The French bank previously had a "strategic partnership" focused on payments with German group Wirecard, which filed for insolvency in 2020.

The deal will be subject to regulatory approval and consultation with the two companies' works councils.

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17/04/2023

Porsche posts record Q1 sales rise boosted by China

Porsche AG posted a record year-on-year sales increase of 18% in the first quarter, boosted by China sales, the company said on Monday.

The German luxury carmaker delivered 21,365 cars in China, its largest single market, representing 21% growth over the previous year. The result there, which is the biggest among regions, was driven by the post-pandemic surge in demand.

Peer Mercedes delivered 191,000 vehicles in China in the first three months of 2023, which is 3% higher over the previous year.

Premium brands are benefiting from the rebound in demand in China, the biggest market for luxury products, after its harsh COVID-19 lockdown policy was scrapped in late 2022.

Worldwide, Porsche delivered 80,767 cars during the period, with an increase posted in every region. SUV models such as the Macan and Cayenne, as well as the iconic 911 sports car, were the most popular among Porsche customers.

"The good start makes us confident for the rest of the year - at the same time, we remain vigilant and flexible in an environment that remains challenging," said Detlev von Platen, Porsche's executive board member for sales and marketing.

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13/04/2023

Zambia is planning to finish tests that simulate real-world cryptocurrency usage by the end of June to help it create regulations that balance citizens' safety with innovation, science and technology minister Felix Mutati told Reuters.

The southern African country also needs digital infrastructure, including digital identities, before cryptocurrencies can be introduced, Mutati said in an interview on Wednesday.

The Central African Republic surprised investors last year by making bitcoin legal tender and launching its own cryptocurrency token, but other African countries have been warier, with Nigeria banning banks from handling crypto assets.

"Our main goal in the area of cryptocurrency is to strike a balance between innovation in terms of digital payments ... against citizens' safety, particularly given that cryptocurrency is very volatile," Mutati said.

"The central bank is simulating that to see what would happen in the real world. The results will assist us (in) the formulation of the regulation."

Prices of digital currencies plunged last year amid the collapse of exchange FTX and a number of other companies, though they have recovered some of the losses this year.

"What we are seeing is increased appetite to invest in Zambia," Mutati said, when asked whether any investments under his purview had been delayed, suspended or cancelled due to Zambia's long-delayed debt restructuring.

Zambia, which was the first African country to default in the COVID-19 era in 2020, could lose gains made from economic reforms, if the restructuring of $18.6 billion of external debt is further delayed, the country's Treasury secretary said on Wednesday.

Creditors from China, which has been accused by some Western officials of slowing down the restructuring process, hold the largest portion of Zambia's external debt - about $5.7 billion at the end of 2022, according to government data.

Reuters

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