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WisdomTree shares pop on report of JP Morgan interest in buying an ETF firm

WisdomTree shares pop on report of JP Morgan interest in buying an ETF firm

Finance
Shares of WisdomTree Investments jumped more than 6 percent Friday after reports that JP Morgan Chase is shopping for an exchange-traded fund firm.The U.S. bank's asset-management unit is looking to up its presence in the growing $ 3 trillion-plus ETF market, Bloomberg reported, citing two people who asked not to be identified. The bank spoke with the U.S. businesses of ETF Securities, and had talks with Global X, which was recently bought by South Korea's Mirae Asset Management, according to the report.WisdomTree stock closed at $ 10.41 Friday following the report, and is up more than 18 percent year over year.J.P. Morgan, which launched its first ETF product in 2014, would be entering the market after strong inflows last summer. More than $ 23 billion of investor money entered the market...
Bitcoin energy use in Iceland set to overtake homes, says local firm

Bitcoin energy use in Iceland set to overtake homes, says local firm

Technology
Iceland is facing an "exponential" rise in Bitcoin mining that is gobbling up power resources, a spokesman for Icelandic energy firm HS Orka has said.This year, electricity use at Bitcoin mining data centres is likely to exceed that of all Iceland's homes, according to Johann Snorri Sigurbergsson.He said many potential customers were keen to get in on the act."If all these projects are realised, we won't have enough energy for it," he told the BBC.Mr Sigurbergsson's calculations were first reported by the Associated Press.Iceland has a small population, of around 340,000 people.But in recent years it has seen a marked increase in the number of new data centres, often built by firms wishing to tout green credentials. Nearly 100% of energy in Iceland comes from renewable sources.Bitcoin mini...
Richemont, the world’s second-biggest luxury firm, bets on digital

Richemont, the world’s second-biggest luxury firm, bets on digital

Finance
A YOUTUBE video featuring a woman sporting a gold watch and driving a convertible, which has been viewed online nearly 5m times. A social-media “influencer” with more than 11m followers on Instagram posting photos of herself wearing the same timepiece. A limited flash sale of the watch on Net-a-Porter, a website.Purveyors of pricey jewellery and watches have been slow to embrace things digital. But last year’s social-media campaign to relaunch Panthère, a watch made by Cartier, a French jeweller, is evidence that they are waking up to the power of the online world. On January 22nd Richemont, a Swiss luxury conglomerate that counts Cartier among its brands, offered to buy the shares it does not already own in Yoox-Net-a-Porter group (YNAP), a leading luxury online retailer, for €2.7bn ($ 3.
Malaysia to pay firm up to $70M if it finds missing plane

Malaysia to pay firm up to $70M if it finds missing plane

Technology
Malaysia's government said Wednesday it will pay U.S. company Ocean Infinity up to $ 70 million if it can find the wreckage or black boxes of Malaysia Airlines Flight 370 within three months, in a renewed bid to solve the plane's disappearance nearly four years ago. Transport Minister Liow Tiong Lai said there was an 85 percent chance of finding the debris in a new 25,000 square kilometers (9,653 square miles) area — roughly the size of Vermont — identified by experts. The government signed a "no cure, no fee" deal with the Houston, Texas-based company to resume the hunt for the plane, a year after the official search by Malaysia, Australia and China in the southern Indian Ocean was called off. The plane vanished on March 8, 2014, while flying from Kuala Lumpur to Beijing with 239 people
US firm picks UK for weather satellites

US firm picks UK for weather satellites

Science
Media playback is unsupported on your deviceA miniaturised instrument to monitor the weather will be the first payload to fly on one of the UK's new publicly funded demonstration satellites. US-based Orbital Micro Systems will launch their microwave radiometer aboard the 30cm-long spacecraft next year to retrieve temperature, humidity and precipitation measurements. If successful, OMS plans a 40-strong constellation of similar satellites. OMS is moving into Britain because of the support offered to new space firms. Originating in Colorado, the company is opening a data-processing centre in Harwell, Oxfordshire, and a hardware facility in Glasgow, Scotland. "The UK's In-Orbit Demonstration programme is unique; it doesn't exist anywhere else," says OMS CEO William Hosack. "The speed with whi...