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UK’s FCA imposes restrictions on e-money firm AstroPay

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The UK’s Financial Conduct Authority (FCA) has imposed a series of restrictions on e-money firm Larstal Limited, which operates as AstroPay, with a particular focus on protecting consumer funds.

Under a “voluntary undertaking” with the regulator, Larstal is prohibited from “accepting any new customer funds, providing payment services, or issuing or redeeming e-money.” The company is also required to “refrain from onboarding any new customers” and “ensure that all relevant funds are appropriately ringfenced in designated safeguarding accounts,” according to the FCA.

If Larstal wishes to resume these activities, it must first obtain written consent from the FCA. These restrictions took effect immediately on April 11.

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In a statement on its website, AstroPay described the measures as “temporary” and stated that “we are working to resume normal operations soon.” The firm did not respond to FinTech Futures’ request for comment.

Licensed as an FCA e-money institution (EMI) since December 2019 and operating in the UK since July 2020, Larstal offers a global e-wallet service through AstroPay. This service provides consumers and businesses with a range of payment capabilities, including peer-to-peer (P2P) money transfers, virtual and physical debit cards, and savings accounts.

The FCA’s regulatory action coincides with a Bloomberg report suggesting that the firm owes several million dollars to its creditors. Larstal’s latest financial statement, up to December 31, 2022, shows that it owes its backers just over $22 million.

Source: fintechfutures.com

The post UK’s FCA imposes restrictions on e-money firm AstroPay appeared first on HIPTHER Alerts.

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Rising Concerns in Food Security: How Agritech and Food Companies Are Responding

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USA News Group Commentary
Issued on behalf of Bee Vectoring Technologies International Inc.

VANCOUVER, BC, June 26, 2024 /PRNewswire/ — USA News Group – Citizens of Portland were covered in smoke this week, after a 4-alarm grease fire destroyed the Shin Shin food factory. This incident followed another fire earlier in June that broke out at the Champlain Beef meat processing plant which is situated between the border of Upstate New York and Vermont, while another chicken factory in Illinois erupted in flames at the beginning of the month. While these two tragedies likely won’t make a dent in the overall food security of the United States, they do present a rising trend of concern towards where our food comes from. At every level, new research is finding ways to keep the food supply chain going, with new research from Carnegie Science showing that adopting new approaches to fertilizers can pave the way for more sustainable, resilient food sources. In the private sector, some of the top agritech companies continue to make major strides in their work to secure the food of the future, including new developments from Bee Vectoring Technologies International Inc. (CSE: BEE) (OTCQB: BEVVF), AGCO Corporation (NYSE: AGCO), Lamb Weston Holdings, Inc. (NYSE: LW), Bunge Global SA (NYSE: BG), and Conagra Brands, Inc. (NYSE: CAG).

One innovation that’s gaining a lot of momentum is the concept of using commercially-reared bees to deliver biological pesticide alternatives directly to crops. It’s a method that some experts say has the potential to transform the $250 billion crop protection and fertilizer industry.

At the forefront of this innovation is Bee Vectoring Technologies International Inc. (BVT) (CSE: BEE) (OTCQB: BEVVF), which focuses on biological agricultural products (“biologicals”) that aim to replace chemical pesticides and fertilizers. Its method of utilizing bees to deliver necessary biologicals has already received approval from the EPA on two occasions, in 2019 and 2021.

According to DataHorizzon Research, the biologicals sector is already experiencing significant growth, with a projected compound annual growth rate (CAGR) of 13.3%, expected to reach a market size of US$45.3 billion by 2032.

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The latest win for BVT is its announcement today of a partnership with the newly formed €8 billion (~US$8.56 billion) company Syensqo, a science and innovation pioneer in specialty chemicals and materials. As per the deal, BVT and Synensqo through an R&D agreement will develop BVT’s proprietary biological control agent Clonostachys rosea strain CR-7 (CR-7) into a seed treatment formulation for the multi-billion soybean market.

“Collaborating with Syensqo is a huge extension of our R&D efforts,” said Ashish Malik, CEO of BVT. “Their large team of formulation chemists and microbiologists will enable us to get to market with a strong seed treatment formulation much faster. Fast-tracking BVT into soybean crops through the well-established seed coating market will expand the Company’s addressable market beyond bee vectoring, bringing CR-7 to more growers by tapping into approaches they are already familiar with. BVT’s go-to market strategy is to commercialize this new CR-7 seed treatment product for sale through large agriculture suppliers, partners and distributors.”

The partnership comes after BVT recently achieved significant progress with CR-7, particularly as a seed treatment for soybeans. Recent US trials showed wherever CR-7 was applied, the results outperformed the base seed treatment 81% of the time. This is in addition to previous successful trials in 2021, which also showed CR-7 to be an effective treatment against Sudden Death Syndrome (SDS), a huge challenge for soybean growers.

BVT has expanded its corporate partnerships, leading to international trials and wider use of CR-7. A Michigan State University trial demonstrated CR-7’s effectiveness, reducing early disease infection and fungal diseases by over 90%, matching traditional chemical treatments.

In the past year, BVT has initiated trials in Spain, Mexico, and South Africa, and made its first sale of CR-7 to BioSafe Systems. Encouraged by positive trial results, BVT plans to conduct further trials to confirm CR-7’s effectiveness.

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Today is also the launch of the annual Tech Days in North America event from AGCO Corporation (NYSE: AGCO). The event will highlight AGCO’s commitment to farmer-focused solutions for the mixed fleet.

“Managing a farm is complicated, managing the right machine and technology for the job shouldn’t be,” said Eric Hansotia, Chairman, President and CEO of AGCO. “AGCO is unique in offering differentiated equipment brands to serve all farmers’ needs and the only company that can effectively retrofit almost any make or model of equipment with technology that will lead to higher yields with fewer inputs. This is how we have consistently put Farmers First for years.”

Embedded within AGCO’s entire portfolio are precision agriculture and clean technology solutions designed to help farmers sustainably feed the world now and in the future. AGCO Finance, the company’s financing arm, also focuses on future growth by collaborating with dealers globally to offer farmers customized and flexible financing solutions.

Potato processor Lamb Weston Holdings, Inc. (NYSE: LW) recently reached a settlement with Oregon regulators over wastewater violations. However, the potato giant is now also facing a securities lawsuit that claims Lamb Weston hid tech problems that cost millions. However, those challenges aside, Lamb Weston is persevering with new partnerships and innovation, including a newly announced partnership with foodservice company ILG Food Group to better serve the Swedish Mediterranean foodservice market. Lamb Weston and ILG Food Group have been partners for the Dutch and Belgian markets for years, and are now expanding their partnership to Sweden.

For the pet food market, Bunge Global SA (NYSE: BG) recently expanded into pea, faba protein concentrates through a new factory in Latvia, exclusively producing for Bunge and run by Golden Fields. Bunge’s new range of pea and faba protein concentrates offers several enhanced attributes, including 55% to 70% protein content, non-GMO and allergen-free labeling, a light color, and a finely powdered form. News of the agreement for Bunge came shortly after Golden Fields opened the plant-based facility, which cost €16 million (~US$17.1 million) to build.

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Bunge highlights the sustainability benefits of its new protein concentrates, produced using crop-rotation practices and dry-fractionation methods that eliminate the need for water or solvents typically used in pulse protein production.

“Our new pea and faba protein concentrates are setting the bar for European-origin pulse proteins to help customers meet growth and sustainability needs across food and feed,” said the company on social media.

Packaged foods giant Conagra Brands, Inc. (NYSE: CAG) recently announced it’s advancing its artificial intelligence (AI) solutions through a human-centered approach that prioritizes responsible use of AI across the entire company. Done through a strategic collaboration with Microsoft and EY to enhance its IT, Supply Chain, R&D, Demand Science, Brand and Design operations.

“As we implement new solutions available to us through collaborations and emerging technologies, we are not only realizing measurable results now, but identifying opportunities for future growth,” said Azeem Kapadia, senior director of AI strategy at Conagra Brands. “These new digital capabilities will benefit our entire team, sharpen our focus and better shape how we operate and innovate throughout Conagra.”

Article Source: https://usanewsgroup.com/2024/05/06/the-buzz-on-eco-farming-how-bees-are-pioneering-the-future-of-crop-protection/ 

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USA News Group
Editorial Staff

CONTACT:
USA NEWS GROUP
[email protected]
(604) 265-2873

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Bee Vectoring Technologies International Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Bee Vectoring Technologies International Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Bee Vectoring Technologies International Inc. which were purchased in the open market, and reserve the right to buy and sell, and will buy and sell shares Bee Vectoring Technologies International Inc. at any time without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, we currently own shares of Bee Vectoring Technologies International Inc. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

View original content:https://www.prnewswire.co.uk/news-releases/rising-concerns-in-food-security-how-agritech-and-food-companies-are-responding-302183344.html

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MINISO Opens New Paris Flagship on Champs-Elysées, Breaking Sales Record and Marking Major Step in Global Expansion Strategy

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PARIS, June 26, 2024 /PRNewswire/ — MINISO, the global lifestyle brand known for its fun, affordable, design-led products, celebrated the grand opening of its brand-new flagship store in Paris on Saturday, June 22nd. The prime location, situated at 104 Avenue des Champs-Elysées, places MINISO right in the heart of the city’s most iconic shopping district, nestled among the world’s most famous luxury brands and just steps away from the Arc de Triomphe. The grand opening created a buzz in the city, and the store even achieved a new MINISO record for single-day sales outside of mainland China.

 

The new MINISO Champs-Elysées brings an eye-catching design to the famous avenue

The Paris flagship, which is MINISO’s largest store in Europe, marks a significant milestone for MINISO’s ongoing global expansion, aligning perfectly with the brand’s ambitious “Super Store” strategy. This strategic approach focuses on establishing large-format stores in key, high-traffic areas. These “Super Stores” offer customers a truly immersive MINISO experience, showcasing the brand’s extensive product range across categories like household goods, cosmetics, stationery, and more. The new flagship, which sprawls across two floors and over 8,600ft2, particularly highlights MINISO’s IP collaboration collections – one of the brand’s key strategic product categories – with design elements and store zones dedicated to Sanrio, Disney, Barbie and others. The store will also be the first in France to debut the new BT21 IP collection.

The new flagship features IP collections such as Sanrio, Disney and Barbie

The new opening comes on the back of strong financial performance for the brand in the March quarter of 2024. The brand’s total global revenue grew 26% YoY to US$515.7 million, while revenue generated from overseas markets surged by 52.6% YoY to US$169.2 million. This impressive performance reflects the relevance and resilience of the brand’s business model and the universal appeal of its products.

“The new flagship store in Paris is another exciting step forward for MINISO,” said Vincent Huang, general manager of MINISO overseas distributor markets and vice president. “Following the successful launch of Super Stores in Times Square and Oxford Street, this prestigious Parisian location further solidifies our commitment to the ‘Super Store’ strategy and its role in elevating the customer experience and propelling our global brand recognition.”

The grand opening drew large crowds as the store broke MINISO’s overseas single-day sales record

MINISO’s “Super Store” strategy goes beyond simply offering a wider product selection. These larger stores create a more engaging and interactive shopping environment, fostering a sense of discovery and excitement for customers. This emphasis on experience, combined with the brand’s dedication to high-quality products at affordable prices, is a key driver of MINISO’s success in international markets.

With the addition of the Paris flagship, MINISO now boasts a presence in 110 overseas (outside mainland China) markets, with 6,630 stores worldwide. The brand’s long-term vision is to become a global super brand, and it plans to achieve this by establishing 900 – 1,100 new stores globally in 2024, with over 50% of the new stores to be located overseas. This strategic expansion will solidify MINISO’s position as a leading lifestyle destination for consumers around the world.

About MINISO

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MINISO Group is a global lifestyle brand offering a variety of trendy lifestyle products featuring IP design. The Company serves consumers primarily through its large network of MINISO stores and promotes a relaxing, treasure-hunting, and engaging shopping experience full of delightful surprises that appeal to all demographics. Aesthetically pleasing design, quality, and affordability are at the core of every product in MINISO’s wide product portfolio, and the Company continually and frequently rolls out products with these qualities. Since the opening of its first store in China in 2013, the Company has built its flagship brand “MINISO” as a globally recognized retail brand and established a massive store network worldwide.

Video – https://mma.prnewswire.com/media/2448666/MINISO_in_Paris.mp4
Photo – https://mma.prnewswire.com/media/2448710/The_new_MINISO_Champs_Elys_es_brings_an_eye_catching_design_to_the_famous_avenue.jpg
Photo – https://mma.prnewswire.com/media/2448664/The_new_flagship_features_IP_collections_such_as_Sanrio__Disney_and_Barbie.jpg
Photo – https://mma.prnewswire.com/media/2448665/The_grand_opening_drew_large_crowds_as_the_store_broke_MINISO_s_overseas_single_day_sales_record.jpg

 

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Falcon Investment Management Unlocks Ultra-Exclusive Hedge Fund Strategy for Family Offices

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LONDON, June 26, 2024 /PRNewswire/ — Falcon Investment Management, a prominent multi-manager hedge fund platform based in London, is pleased to announce the launch of a new fund that provides select investors access to its exclusive investment platform for a limited period.

Marking its 10th anniversary, Falcon has established itself as a leading destination for emerging managers who seek independence and flexibility. The firm offers institutional-grade solutions, ranging from operations and risk management to seed and accelerator capital, supporting aspiring managers in their growth and success.

“We provide credit facilities to highly skilled investment teams. We partner with them by offering working capital while assuming a first-loss position, ensuring alignment with our investors and a commitment to long-term success,” stated Benny Menashe, Founder and Managing Partner of Falcon.

The newly launched Cayman-domiciled fund grants access to a hedge fund strategy that was previously reserved for large institutions. Given the high demand and limited capacity, this opportunity will be available for a limited time to a select group of investors, who will join as strategic partners with Falcon.

“We combine a private debt investment approach with a hedge fund-style strategy. Our sophisticated risk management and operational frameworks allow us to achieve high yields for our investors while maintaining low volatility and no correlation to other markets,” added Menashe.

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This open-ended fund is designed to provide income opportunities with monthly distributions and quarterly liquidity, offering a unique structure in its class.

Falcon was a pioneer in introducing the first-loss concept to European managers in 2021, becoming one of the first UK-based alternative investment firms to do so. Today, Falcon has established partnership arrangements with investment teams worldwide, including in Japan, Singapore, Hong Kong, UAE, UK, and beyond.

About Falcon Investment Management

Established in 2014 and headquartered in London, Falcon Investment Management stands as a leading alternative investment fund manager authorized and regulated by the Financial Conduct Authority (UK). Falcon’s unique hedge fund platform is an ecosystem that supports and invests in early-stage and seasoned managers, aiming to bridge talent and opportunity gaps. With institutional-grade resources, Falcon grants its partner managers unparalleled access to capital, operational infrastructure, and global distribution opportunities.

Falcon Investment Management Ltd, is authorised and regulated by the Financial Conduct Authority (FCA). Registered in England and Wales with registered number 09277206 and FCA registered number FRN 673552.

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For more information about Falcon, please visit: Falcon Website

Contact

Benny Menashe
Managing Partner
+44 203 827 0275
[email protected] 

View original content:https://www.prnewswire.co.uk/news-releases/falcon-investment-management-unlocks-ultra-exclusive-hedge-fund-strategy-for-family-offices-302182096.html

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