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Yahoo
5 hours ago
- Yahoo
FNZ partners with Microsoft to enhance wealth management through technology
Wealth management platform FNZ has entered into a five-year global strategic partnership with Microsoft to advance the wealth management sector through technological innovation and AI-driven solutions. This collaboration merges FNZ's expertise in wealth management and its global presence with Microsoft's capabilities in AI, cloud infrastructure, and engineering. The integration of Microsoft Azure AI Foundry into FNZ's platform is expected to enhance interactions among financial institutions, advisors, and clients, providing more tailored and efficient digital wealth management experiences. FNZ anticipates that this partnership will enable quicker market introductions of new solutions, improve client outcomes, enhance advisor productivity, and foster innovation within the industry. Microsoft worldwide financial servicescorporate vice president Bill Borden said: 'Together, we are not just upgrading technology. We are setting a new standard for how wealth management is delivered. 'Partnering with Microsoft further advances our mission to open up wealth, by making investing more accessible to more people worldwide.' The collaboration aims to enhance the advisor and investor experience by integrating Azure AI Foundry capabilities and improving data analytics applications with Microsoft Fabric. It will also engage joint engineering initiatives to develop innovative digital wealth solutions. Additionally, FNZ plans to implement Microsoft 365 Copilot and intelligent agents to streamline operational processes. The partnership will also involve coordinated global marketing initiatives and participation in industry events to promote modular wealth solutions through various channels, including the Microsoft Marketplace. FNZ Group president Roman Regelman said: 'FNZ has always been at the forefront of innovation in wealth-management technology. 'Partnering with Microsoft allows us to accelerate our AI-led roadmap and enhances our ability to deliver personalised, intelligent and resilient solutions to our clients, strengthening our position of leadership.' FNZ currently partners with over 650 financial institutions, serves more than 26 million end investors, and manages nearly $2tn in assets. It is supported by major institutional investors such as Caisse de dépôt et placement du Québec, Canada Pension Plan Investment Board, Generation Investment Management, and Motive Partners. "FNZ partners with Microsoft to enhance wealth management through technology" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 hours ago
- Yahoo
Food delivery service Calo scores $39 million in Series B extension as it sets eyes on the UK
Middle Eastern food delivery startup Calo said Tuesday it has raised $39 million in a Series B extension that was led by AlJazira Capital. The fundraise, which was more than 1.5x of its original $25 million raise in December, also saw participation from existing backers such as Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group. The company is using this funding to expand into territories like the UK and also explore different partnerships in physical space. Calo primarily offers ready-to-eat meals that customers can heat up later. The company delivers different plans to cater to various health goals. The company's founder, Ahmed Al Rawi, told TechCrunch the startup's revenue grew by 'close to 100%.' Calo delivered more than 10 million meals last year in Saudi Arabia, the UAE, Kuwait, Qatar, and Bahrain. While Al Rawi didn't provide a number for this year, he said the deliveries were growing in step with revenue. Those numbers, along with its brand, technology, and operational excellence, convinced AlJazira Capital to invest in the Saudi company. 'Calo represents a compelling opportunity at the intersection of healthtech, foodtech, and consumer subscription models,' Rawan AlRasheed, director of venture capital at AlJazira Capital told TechCrunch in a statement. The startup is also making moves to expand in the UK, where last year it acquired two meal delivery services, Fresh Fitness Food and Detox Kitchen. While Fresh Fitness Food didn't raise any money, Detox Kitchen had raised just over $3.4 million via a mix of venture-backed and equity crowdfunding rounds, according to Crunchbase data. 'We spoke to over 50 meal subscription businesses worldwide, ranging from the U.S. to Asia, in 2023-24 to learn about what is an exciting market for us to expand to. We realized the UK was the right market for us to expand. We thought that both companies that we acquired had a great culture fit to work with Calo,' Al Rawi told TechCrunch over a call. He added that Calo acquired these businesses because they had their operational layer figured out, and the startup just wanted to upscale the tech and branding layer. Al Rawi said Calo spent most of this year integrating its technology and process with both UK platforms without laying off any of the existing personnel. The startup finished the integration work in July and has been slowly making a marketing push in the UK. Calo can currently deliver meals in London daily and in other parts of the UK two to three times a week. The founder said that Calo is targeting to get to 10x its revenue in the UK in the next three years. Those UK ambitions will be met with competition. Apart from traditional food delivery giants like Just Eat and Deliveroo, Calo will also compete with meal-box services such as Gusto and Wicked Kitchen. While Calo is focused on growing in the UK, the company is also looking to acquire different meal-kit services across the world. The company is also expanding physical locations, including retail stores and kiosks in other regions. The company has also partnered with a gym chain called Armah Sports Company in Saudi Arabia to offer a bundle of Calo and gym subscription. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 hours ago
- Yahoo
P&G beats on earnings, warns of $1 billion tariff hit
Procter & Gamble (PG) is taking a cautious approach to the next twelve months as it navigates uncertain consumers and Trump tariffs. The company said Tuesday it will see a $1 billion hit to profits in its new fiscal year as a result of tariffs. It offered mix EPS guidance as a result, with the bottom end of the range below analyst forecasts. Shares rose slightly in pre-market trading as fourth fiscal quarter results beat estimates. P&G's earnings are being overshadowed by a surprise change atop the C-suite ahead of the results. The consumer products giant announced late Monday that Shailesh Jejurikar will succeed CEO Jon Moeller on Jan. 1, 2026. Jejurikar is currently the company's COO but has been with P&G since 1989. He has helped lead some of P&G's most important businesses around the world, notably a fabric care business led by the Tide brand. Moeller has been the CEO of P&G since November 2021. He has been with the company since 1988, holding positions such as COO and CFO before landing the top job from David Taylor. Moeller will assume the position of executive chairman of P&G. "We are not surprised as we believe Mr. Jejurikar's was the natural successor to CEO Moeller after his appointment to the COO position in October of 2021. We also think Jejurikar's experience in both developed markets and emerging market and as the CEO of global fabric care and home care gives him enough experience to lead P&G," said JP Morgan analyst Andrea Teixeira. Earnings insight: Weakness in fabric and baby products Net sales: $20.9 billion, +2% from the prior year vs. $20.82 billion estimate Organic sales growth: +2% vs. +1.75% estimate Beauty segment organic revenue growth: +1% vs. +1.6% estimate Grooming segment organic revenue growth: +1% vs. +2.46% estimate Healthcare segment organic revenue growth: +2% vs. +3.57% estimate Fabric and home care segment organic revenue growth: +1 vs. +1.76% estimate Baby, feminine, and family care segment organic revenue growth: +1% vs. +1.37% estimate Adjusted EPS: $1.48, +6% from the prior year vs. $1.42 estimate What else caught our attention: Warnings Full-year organic sales growth: 0% to +4% (estimate: +2.54%) Full-year earnings per share: $6.83 to $7.09 (estimate: $6.99) Brian Sozzi is Yahoo Finance's Executive Editor and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email
