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Ex-Gain Capital CEO pays $1M for bankrupt Money.Net assets Stevens may plan to give Money.Net a new lease of life targeting wealth management clients. Print this page
Glenn Stevens, the former CEO of Bedminster, NJ-based broker Gain Capital, has acquired the assets of Money.Net, the budget data workstation provider that recently filed for Chapter 7 bankruptcy protection, for just over $1 million. The deal, which closed at the end of May, includes Money.Net’s software platform and intellectual property, as well as contracts with suppliers and existing clients. Under the arrangement, Stevens assumes the obligation to pay outstanding amounts owed to companies ....
China’s core strengths to lift economy The expected tapering of US monetary stimulus moves may have some spillover effects on China in the form of higher financial market volatility and slower capital inflows, but strong economic fundamentals will help buffer such risks, experts said. China’s robust economic recovery, good control of the COVID-19 epidemic, and relatively ample policy room will help yuan-denominated assets withstand risks arising from any winding down of the US Federal Reserve’s quantitative easing program, they said. “The domestic stock, foreign exchange and bond markets will all be exposed to risks due to a possible QE tapering in the United States,” said Wang Youxin, a senior researcher with Bank of China. ....