S4 Capital, Martin Sorrell’s digital advertising firm, announced a 34.5 percent increase in first-quarter gross profit and reaffirmed its full-year plan, predicting healthy demand despite global economic growth estimates weakening.
The company, which is listed in the United Kingdom, confirmed its profit growth objective of 25%. Despite the fact that global GDP growth is expected to decrease in 2022 and 2023, the need for digital advertising and marketing revolution is expected to grow at a rate of 10-15 percent each year.
The parent company of India’s ShareChat has attracted almost $300 million in new capital from Alphabet’s (GOOGL) Inc’s Google, media conglomerate Times Group, and Singapore’s Temasek Holdings, valuing the social media company at about $5 billion.
After backing Josh, which competes with ShareChat’s sister company Moj, this is Google’s second major investment in India’s short video industry.
Google’s involvement in a bearish market for Indian start-ups demonstrates the hunger for short videos and the investment thesis of the start-up. A deal is expected to be revealed next week.
The Victoria state gaming regulator penalized Crown Resorts $57.4 million for allowing illegal cash transfers from China, ahead of the watchdog’s verdict on Blackstone’s $6.3 billion takeovers of the casino operator.
The deal was approved by Crown’s shareholders in a landslide earlier this month. The corporation anticipates a final Federal Court hearing next week to authorize the takeover.
On Monday, global stocks climbed, and the dollar fell to five-week lows on expectations of a halt in monetary tightening in the United States following recent interest rate hikes.
The news that Shanghai officials would lift several restrictions on businesses restarting operations helped to lighten the mood.
Following the central bank’s announcement that trading in some foreign shares will be restricted, SPB Exchange will move up to 14% of its clients’ U.S.-listed shares to a non-trading account.
The decision was prompted by Euroclear regulations, according to SPB, and will affect shares with a primary listing in the United States. Widespread sanctions implemented by the West have harmed Russia’s financial ties with the rest of the world.
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