Beijing’s tough stance against a former chairman of China Huarong Asset Management highlights the risks that can lurk behind a facade of well-connected corporate respectability and a reminder to investors to do their due diligence, and do it thoroughly, when investing in China.
Lai Xiaomin, ex-chairman of the country’s largest financial asset management firm, is being prosecuted for bribery and embezzlement of public assets, the Central Commission for Discipline Inspection CCDI and...
In part I we looked at getting ready for mobile marketing. In this part we will concentrate on mobile acquisition. In any business, one of the ingredients to making larger profits is paying less. In marketing terms, this is eCPA (effect Cost per Acquisition). Remember that the CTAs are slightly different as the first step is to get the user to download the app and then register.
There are three considerations for mobile acquisition –search, paid traffic (media/affiliates), and the app store.
Let’s start with the easiest – SEO (Search Engine Optimization) or organic traffic from search engines. As with online, someone who has taken the time to search for you or your product is more likely to convert and the relative costs are much lower. The chance of attracting this lucrative user is based on your ranking in the search engine and therefore you need to work on your rank for both desktop and mobile. We have already seen that Google looks favorably on mobile friendly sites (at least for its mobile results). The basis of good ranking is a clean strategy of quality engaging relevant content and building brand authority. Online and mobile play by the same rules.
When we deal with paid advertising and affiliates we can also include paid Google campaigns. The first step is deciding which campaigns drive traffic to the website and which to the app store. The best way to get started with media is to bring in a specialist in mobile marketing. This can be done in-house or outsourced to a specializing agency. Campaign management is very different from online in many respects. For example, there are unique channels like in-app video advertisements which point directly to the app stores. There are also specialist sites and affiliates. Like all marketing, it comes down to analysis and ongoing optimization. If you apply an 80/20 rule, then 80% should go to campaigns you are confident with and 20% allocated for finding new channels or creatives.
Particular to mobile is App Store Optimization (ASO). ASO shares many traits with SEO with additional considerations. First piece of knowledge required is that the Play store has better search facilities than Apple’s App Store. Correct keyword tagging is essential. The second piece of knowledge is that a vast majority of app discovery happens with the app stores; according to a Forrester report 63% of apps are discovered by app store searches. ASO is about making your product discoverable via keywords, targeting similar products and ranking. Other than the title you give the product and keywords, the other main factors are number of downloads and ratings and reviews. This is why your apps keep asking for a rating.
For successful marketing you will need to blend your strategy. Paid advertising brings the quickest results but at a high cost with lower conversion. SEO and ASO take more time but bring better quality and lower costs.
Canada's Indian origin Defence Minister Harjit Singh Sajjan today inaugurated the new office of Consulate General of Canada here.
Sajjan also went to his native village Bambeli in Hoshiarpur district of Punjab where he was accorded warm welcome by the villagers.(IE)
Canada’s Indian origin Defence Minister Harjit Singh Sajjan today inaugurated the new office of Consulate General of Canada here. The visiting dignitary reached Elante office complex here shortly after 9 AM and inaugurated the new office by cutting the ribbon, amid tight security arrangements. The new office offers wide range of services like assistance to Canadians, helping companies to do business with Canada, visa services etc. Sajjan, who is on a seven-day visit to India, later held meeting with Haryana Chief Minister Manohar Lal Khattar at Chandigarh airport, officials said here.
Yesterday, Sajjan paid obeisance at the Golden Temple in Amritsar. He had also visited the All India Pingalwara Charitable Society on the outskirts of the city, where he met the under privileged children. Later in the afternoon, Sajjan visited a girls’ orphanage in Jalandhar. Sajjan also went to his native village Bambeli in Hoshiarpur district of Punjab where he was accorded warm welcome by the villagers.
Ahead of the Canadian Defence minister’s visit, Punjab Chief Minister Amarinder Singh had said he would not meet Sajjan and described him as a “Khalistani sympathiser”. Sajjan, however, rubbished Amarinder’s allegation that he is “pro-Khalistani” and said he would not get into any petty politics with the Chief Minister.
Deutsche Bank AG was hit with the Federal Reserve’s first major fine for failing to ensure traders abide by the Volcker Rule’s ban on risky market bets -- and will pay even more for letting currency desks chat online with competitors, allegedly revealing positions.
The simultaneous sanctions, totaling almost 7 million, fault lax oversight of traders that persisted into last year. (Reuters)
Deutsche Bank AG was hit with the Federal Reserve’s first major fine for failing to ensure traders abide by the Volcker Rule’s ban on risky market bets — and will pay even more for letting currency desks chat online with competitors, allegedly revealing positions.
The simultaneous sanctions, totaling almost $157 million, fault lax oversight of traders that persisted into last year. The company — which raised $8.5 billion from investors this month to recapitalize — admitted to the Fed in March 2016 that it still lacked adequate systems for keeping tabs on dealings that might run afoul of the Volcker ban.
“Significant gaps existed across key aspects of Deutsche Bank’s Volcker Rule compliance program,” the Fed said Thursday, fining the firm $19.7 million for the lapses. As for chats, the bank failed to detect that currency traders engaged in “unsafe and unsound conduct,” disclosing some positions or talking about coordinating strategies, the Fed said. The company will pay $136.9 million for that.
Chief Executive Officer John Cryan, who took over almost two years ago, is trying to refocus on growth after probes and litigation sapped years of earnings, pushing the firm to tap investors to shore up capital. The latest penalties bring the lender’s total disclosed fines and legal settlements since the start of 2008 to $14.7 billion, the most of any European bank, and highlight the weakness of its controls after growing aggressively to compete with U.S. investment banks.
“It’s pretty unpleasant that they stand out with the Volcker Rule violations,” Andreas Plaesier, an analyst at M.M. Warburg with a hold rating on Deutsche Bank shares, said by phone. “It’s really surprising just how many controls failed across the bank in recent years and it doesn’t cast a good light on former management.”
While the bank had signaled that its misconduct in currency markets was less egregious than that of competitors, the penalty is “relatively low” and will probably be covered at least in part by existing reserves, Plaesier said.
That fine was lower than penalties the Fed has imposed on other banks for similar issues. In 2015, the U.S. central bank slapped six banks with fines totaling more than $1.8 billion for their “unsafe and unsound practices in the foreign exchange markets.”
Yet the Fed wasn’t the only regulator examining the currency chat rooms. New York’s Department of Financial Services, which has a track record of demanding stiffer penalties than the Fed, has been preparing to sanction the firm as well, a person familiar with the matter said last month.
“We are pleased to resolve these civil enforcement matters with the Federal Reserve,” said Renee Calabro, a Deutsche Bank spokeswoman, declining to comment further on Thursday’s cases. In December, the lender agreed to settle a U.S. mortgage-backed securities probe for $7.2 billion.
The Volcker Rule, named for former Fed Chairman Paul Volcker, seeks to make the financial system safer by barring banks with federally insured deposits from betting their own money. Such wagers once drove epic profits and bonuses in the years before 2008’s financial crisis.
Now, traders are largely relegated to helping clients buy and sell securities, profiting mainly on the spread or price moves. And banks are supposed to ensure such market-making doesn’t bleed into outright wagers — a line that can be blurry.
The Fed credited Deutsche Bank for taking steps to identify and shore up its policies and controls. It didn’t accuse the bank of engaging in banned proprietary trades.
Senior financial officials in the Trump administration have said they intend to rethink the Volcker Rule, which was created by the Dodd-Frank Act of 2010. Treasury Secretary Steven Mnuchin, who’s leading an effort to overhaul Dodd-Frank, has said Volcker went too far in choking off trading and should be made simpler to understand. The rule’s critics have suggested regulators appointed by President Donald Trump could just ease off on enforcing its toughest provisions.
Transcripts of chats between Deutsche Bank traders and those from other banks emerged more than a year ago in civil litigation over the matter filed in Manhattan, and the U.S. Justice Department had been looking into the bank’s currency-trading activities. In March, the bank said the department had informed it that the U.S. criminal inquiry had been closed without action.
In Thursday’s chat-room settlement, the Fed ordered the bank to improve its senior management’s oversight of foreign exchange trading and cooperate in any investigations of the individuals involved.
The bank has been contending with other inquires this year. The U.S. attorney’s office in Manhattan has been examining possible sanctions violations and “mirror trading” that moved billions of dollars out of Russia.
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