The Bank of England (BOE) is urging UK banks to expedite their digital payment solutions as cash use declines. The BOE’s recent paper highlights the need for innovations that allow direct payments from bank accounts, bypassing credit and debit cards, to save time and costs for consumers and retailers. The British central bank is developing […]
For investors who are skeptical of Meta’s massive spending on artificial intelligence and whether it will pay off anytime soon, CEO Mark Zuckerberg is urging them to look to the present. After the company’s better-than-expected second-quarter earnings report on Wednesday, Zuckerberg and finance chief Susan Li rattled off all the ways that AI has helped the company grow faster than […]
Buy now, pay later services have rapidly grown in popularity, with 9% of consumers using them as of fall 2023. Some consumers may use credit cards to pay for popular BNPL plans such as Klarna, Afterpay and Affirm. However, Chase recently announced on cardholder statements that effective Oct. 10, 2024, Chase will no longer allow […]
While the Ethereum ETF’s approval by the SEC marks a significant regulatory shift towards digital assets, its performance remains uncertain The US Securities and Exchange Commission has approved the first spot Ethereum exchange-traded funds (ETFs). Trading for these ETFs began on July 23, 2024. This follows the successful launch of Bitcoin ETFs earlier this year, […]
Revolut has entered the PRA’s ‘mobilisation’ stage after receiving authorisation with restrictions to complete the build-out of their banking operations Revolut, the global fintech company with over nine million UK customers and 45 million globally, has entered the Prudential Regulation Authority’s (PRA) ‘mobilisation’ stage. This development follows Revolut receiving a UK banking license with restrictions, a significant […]
McDonald’s saw a drop in sales for the first time in years as it struggled to draw in cash-strapped customers amid higher menu prices. McDonald’s CEO Chris Kempczinski said that the company’s system “sustained significant inflationary cost increases” between 20 to 40%, depending on the market, over the last several years. “As we absorb these […]
NEW YORK (Reuters) -Singapore state investor Temasek plans to invest up to $30 billion over the next five years in the U.S. in sectors such as healthcare, financial services and technology. “It’s an incredibly deep and broad capital market in the U.S.,” Jane Atherton, Temasek’s head of North America, told Reuters. “The U.S. is really […]
This unique ETF has created life-changing wealth for investors. Will it continue? Cryptocurrency is becoming increasingly common in investing circles and is arguably an asset class worth including in any long-term portfolio. But crypto is still a Wild West of sorts; there are seemingly endless options, few regulatory guardrails, and highly public instances of fraud […]
Apple was edged out of the top five smartphone vendors’ list in China in the second quarter, as competition from domestic brands such as Huawei intensifies, according to a Canalys report. Apple’s market share in China shrank to 14% in the second quarter, the report released Thursday showed, from 15% in the first quarter and 16% in the same period […]
Stocks jumped Friday, and Wall Street capped off a turbulent week on a positive note as investors weighed fresh U.S. inflation data. The Dow Jones Industrial Average rallied 654.27 points, or 1.64%, to finish at 40,589.34. The S&P 500 climbed 1.11% to end at 5,459.10, while the Nasdaq Composite gained 1.03% to close at 17,357.88. Friday’s moves stem from a combination of […]
The world of traditional finance continues to open up to Bitcoin. In this dynamic, the Michigan state retirement system has just invested $6.6 million in the leading crypto via the ARK 21Shares Bitcoin ETF. This decision marks an important step in the institutional adoption of digital assets. A trend that is accelerating Michigan’s investment, although […]
The UK’s Current Account Switch Service has revealed that it facilitated over 1.4 million in the past 12 months, up 10 per cent from the previous year, with the latest stats offering a positive outlook for the market. The Current Account Switch Service explained that the continued upward switching trend highlights that finding the right […]
