Kawasaki Heavy Shares Slide on Report of ¥200 Billion Capital Raise Plan 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Wall Street Futures Rise Ahead of JOLTS Data, Nike Earnings, and U.S.-Iran Talks 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
Chip Stocks Rally as Samsung and SK Hynix’s $1.3 Trillion Investment Plan Boosts AI Optimism 
Super Micro Shares Slide After Taiwan Raids Over Alleged Nvidia AI Chip Smuggling Probe 
India Manufacturing PMI Slows in June as Demand Weakens Despite Lower Cost Pressures 
Dollar Slips Ahead of Key U.S. Jobs Data as Fed Rate Outlook, ECB, and Iran Talks Shape Forex Markets 
China Manufacturing PMI Edges Higher in June as Exports and AI Investment Boost Growth 
Trump Suspends Some Morocco Fertilizer Tariffs to Ease U.S. Supply Shortage 
SK Holdings, KKR Launch $1.3B Renewable Energy Venture in South Korea 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Nvidia Stock Rises as SemiAnalysis Sees AI Data Center Revenue Beating Wall Street Forecasts 
Open-Source AI Models Gain Ground as Enterprises Seek Lower-Cost Alternatives, Citi Says 
US Stock Futures Steady as Investors Await Payrolls Data and Monitor Iran Tensions 
Asian Stocks Mixed as South Korea Slides on Profit-Taking, Japan and China Gain on Strong Factory Data 
Anthropic Brings Claude AI Models to Microsoft Azure Foundry With NVIDIA Blackwell GPUs 
Kakao Pay Corp. is buying a total of 51% controlling stake in Siebert Financial Corp., an American investment advice company. The South Korean financial technology arm of the Kakao Group said on Thursday, April 27, that this deal is part of its efforts to reach the goal of business expansion overseas.
Yonhap News Agency reported that Kakao Pay stated in its recent regulatory filing that its deal with Siebert is worth $17 million, and they have already signed the contracts for it. The companies expect to complete the deal on May 4. This particular agreement will give Kakao a 19.9% stake in Siebert.
Kakao Pay will increase its stake in the US-based brokerage firm by buying an additional 31.1% next year. This will bring the South Korean fintech firm's stake to 51%.
Then again, it was noted that this purchase is still subject to shareholder and regulatory approvals. The price of this second acquisition deal was not disclosed by Kakao.
"We are excited to announce this transaction with Kakao Pay which will enhance our capabilities and accelerate our growth plans," Gloria E. Gebbia, Siebert's controlling shareholder and board member, said in a press release. "The partnership with Kakao Pay will provide us with significant financial resources to opportunistically invest in our key business lines while leveraging the expertise and technological capabilities of one of the leading financial services innovators in the Korean market to expand our reach and enhance our technology offerings."
Shin Won Keun, Kakao Pay's chief executive officer, also said, "Kakao Pay has attained a great opportunity to expand its financial business abroad by making a strategic investment in Siebert, a company with over 55 years of tradition and experience."
Finally, the Kakao Pay chief added they would continue to improve their benefit offerings and user experience as a financial platform while also seeking new chances for innovation in the global market.
