Agari, a startup that uses artificial intelligence to spot and defend against email attacks, raised $40 million in its most recent funding round. With the new capital, it intends to accelerate its expansion in Asia and Europe.
An upcoming Treasury Department report on financial technology will include an examination of how regulators can accelerate innovation and tailor regulations to the needs of startups, said Craig Phillips, counselor to Treasury Secretary Steven Mnuchin. "One of the challenges will be to navigate a regulatory system that was designed in and for a different era," he said.
PayPal has reached an agreement to acquire Simility, a startup that developed a fraud-detection system based on machine learning, for $120 million. PayPal says it will incorporate Simility's fraud-detection tools into its platform after the acquisition closes.
Match Group, owner of dating apps Match, OkCupid and Tinder, has acquired 51% of relationship app startup Hinge. The deal gives Match the right to buy the remaining shares of Hinge within 12 months.
Automattic, the company that owns WordPress, has acquired online magazine Atavist, its customer base and its digital publishing technology. Automattic plans to use the acquisition to offer new products and services.
Premiums for silver Affordable Care Act plans are expected to increase an average of 15% to $740 next year from $642 in 2018, according to an analysis of 2019 health insurance exchange rate filings in 10 states and Washington, D.C. The analysis by Avalere Health attributed the premium hike to the repeal of the ACA's individual mandate, the administration's decision to halt cost-sharing reduction payments and the lack of federal legislation to stabilize the ACA market despite enrollee risk and structural uncertainties.
The Federal Reserve says the 35 biggest banks in the US have passed the first part of a two-part stress test by showing they have sufficient capital to survive a severe recession. The next phase of the test examines banks' operations, including risk management.
The S&P 500 could be setting up for an ascent that takes it to another unprecedented high, says technical analyst Mark Arbeter, CMT. The index has encountered headwinds lately, prompting some market watchers to predict a significant correction, but Arbeter says chart indicators are positive and calls a recent pause helpful because it has curbed euphoria.
Pundits have predicted a breakout for gold several times since 2011 and it has never happened, technical analyst Avi Gilburt writes, but his Elliott Wave chart reading shows the breakthrough might happen in 2020. Gilburt, applying the Elliott Wave technique to leading miner Barrick Gold, sees progress in 2018, a significant pullback in 2019, then a powerful ascent in 2020, which might be shared by the broader asset sector.