The workers union at Starbucks is claiming the coffee chain is shutting down a recently unionized cafe in retaliation for its activist efforts. It’s the latest escalation between a rapidly growing national labor movement and the coffee giant. Workers United, the union that’s backing organizing efforts at Starbucks, said in a Friday filing with the […]
AMSTERDAM (Reuters) – KLM, the Dutch arm of Air France-KLM, said it would not bring any further passengers on Saturday from European destinations to Amsterdam’s Schiphol Airport, its main hub. The airline, which had already cancelled dozens of flights to ease traffic pressure at the airport, said weather conditions and runway maintenance were preventing many […]
Rostec, the Russian manufacturing and technology conglomerate, has developed a system allowing the processing of international settlements and storage of digital currency. The blockchain-based platform has been announced as an alternative to SWIFT, which is unavailable for some Russian banks. Rostec Employs Distributed Ledger Technology to Substitute SWIFT Russian state-owned corporation Rostec has built a […]
Cryptocurrency exchange Gemini has become the latest fintech to announce layoffs, blaming “turbulent market conditions” for the decision to cut its headcount by about 10%. In a message to “Astronauts”, the firm’s founders, Cameron and Tyler Winklevoss, say they are cutting staff as the industry faces up to a “crypto winter” compounded by wider “macroeconomic […]
Tesla CEO Elon Musk said in an email to all employees at the electric vehicle maker on Friday that the company will cut 10% of salaried workers and will instead rely on more hourly workers. Shares of Tesla dipped 9% on Friday by midmorning after Reuters reported on an earlier email Musk had sent to executives about his plans […]
The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation, the Bureau of Labor Statistics reported Friday. At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969. Economists surveyed by Dow Jones had […]
Regulation is needed to open the crypto ecosystem to a larger public, United States Federal Reserve Board Governor Christopher Waller told an audience at the SNB-CIF Conference on Cryptoassets and Financial Innovation in Zurich, Switzerland. Financial intermediaries can help manage risk for new crypto users, but cannot eliminate it, Waller said, and new and fast-growing […]
The New York State Senate has passed a bill establishing a moratorium on cryptocurrency mining using carbon-based power sources. The bill, which was passed by the state Assembly last month, now makes its way to Governor Kathy Hochul, who will either sign it into law or veto it. The bill calls for a two year […]
SINGAPORE — Shares in Asia-Pacific rose on Friday as several major regional markets were closed for a holiday and investors looked ahead to the release of U.S. jobs data for May. Japanese stocks led gains among the region’s major markets, with the Nikkei 225 gaining 1.27% on the day to 27,761.57 as shares of Fast […]
Credit unions (CUs) in the United States have proven resilient throughout the pandemic, continuing to modestly expand their membership base and enjoy strong popularity. Industry research shows that 24% of U.S. consumers choose CUs as their main financial institution (FI), more than community banks or digital-only banks. The retail banking landscape is only becoming more […]
Job creation at companies decelerated to the slowest pace of the pandemic-era recovery in May, payroll processing firm ADP reported Thursday. Private sector employment rose by just 128,000 for the month, falling well short of the 299,000 Dow Jones estimate and a decline from the downwardly revised 202,000 in April, initially reported as a gain […]
David Lambert, CEO of Transact365, discusses the development of digital transactions in LATAM and how the payment sector has changed For the majority of the payment industry’s history, innovation has been led by multinational payment organisations. Having established a foothold in advanced economies and setting the groundwork for digital payment processes, these renowned brands are […]
