Beijing expressed that it wanted to split up Alipay, a popular app owned by Jack Ma’s Ant Group, and create a separate app for the company’s highly profitable loans business. … Read more
The Bank of England (BoE) on Wednesday has appointed Goldman Sachs alumnus Huw Pill as Chief Economist and Executive Director for Monetary Analysis, replacing Andy Haldane who resigned this year. … Read more
Norway’s $1.3 trillion wealth fund has decided to exclude two companies associated with the Israeli settlements in the West Bank, in a statement Wednesday. The Norges Bank has decided “to … Read more
Paypal-owned online payment processing platform Venmo announced that it has added cryptocurrencies support which would allow users to buy, sell and hold cryptocurrencies. Venmo users will get to choose between … Read more
A Swiss banker has become a star witness to a U.S. criminal investigation into how Venezuelan kleptocrats stole billions in oil wealth from their country. While President Hugo Chávez was … Read more
A US Government official claimed that Myanmar’s Military Junta attempted to withdraw $1B from the New York Fed but was blocked by the US government. According to Reuter’s report on … Read more
Online financial service Paypal has now announced that they will cease domestic payment services in India, in a statement Friday. Paypal said, “From 1 April 2021, we will focus all … Read more
Financial services company Mastercard will increase its transaction fees by fivefold for British cardholders when they purchase goods and services from companies based in the European Union. Mastercard said it … Read more
The Hong Kong and Shanghai Banking Corporation (HSBC) announced plans on closing 82 branches in the United Kingdom from April to September this year due to “local market trends, customer behavior, and branch usage.”
Chinese regulators ordered leading mobile payments firm Ant Group to overhaul major parts of its business and to adhere to the regulatory requirements as regulators intensify their scrutiny of anti-monopoly practices in the internet sector of the country.