The expert view on how Digital ecosystems and how Big Tech is redefining the financial services space by expanding the digital ecosystem Big Tech first pioneered the concept of business ecosystems to monetise its technology platforms and customer relationships. Ecosystem-based strategies are primarily collaborative models, set up with the knowledge that no business by itself […]
Category: Top News
Stripe adds former Microsoft exec James Phillips to ranks
James Phillips joins Stripe as President of Financial Services after decade at Microsoft as the payments giant continues impressive growth trajectory Payments platform Stripe has added another heavyweight executive to its ranks with the announcement of James Phillips joining as President of Financial Services after a decade at Microsoft driving its Digital Transformation Platform Group. […]
How Russia’s war is cutting global auto production
Russia’s invasion of Ukraine has led auto industry watchers to cut production and sales forecasts for the next two years. The crisis has shuttered factories in Eastern Europe, and caused spikes in the prices of already precious raw materials. Some factories in Ukraine have tried to keep going amid the invasion. Workers have reportedly had […]
Elon Musk ‘funding secured’ tweets ruled false, new court filing suggests
In a court filing out late Friday, shareholders who are suing Tesla and CEO Elon Musk over alleged securities fraud said they won part of a critical ruling in their class-action lawsuit. The shareholders are suing Tesla over money they lost after Musk tweeted in 2018 that he was considering taking his electric vehicle company […]
President Biden announces former Ripple adviser as pick for Fed vice chair for supervision
Following the withdrawal of former Federal Reserve Board governor Sarah Bloom Raskin, United States President Joe Biden has announced his intention to nominate former Obama administration official and law professor Michael Barr as the central bank’s vice chair for supervision. In a Friday announcement, the White House said Barr was Biden’s pick to supervise the […]
Bitstamp asks users to update the source of their crypto, citing regulatory compliance
Major global cryptocurrency exchange Bitstamp continues increasing compliance efforts by requesting its users to provide more data like their source of wealth. In an email notification to users on Wednesday, Bitstamp informed its customers about the ongoing policy upgrades on the platform, with the exchange seeking additional info about its clients, one Bitstamp user told […]
30-year home mortgage rates hit 5% for the 1st time in over a decade
IRVINE, Calif. (KABC) — For the first time in more than a decade, 30-year home mortgage loan rates hit 5%. Roger Williamson, the CEO and founder of Kent Mortgage Corporation, Roger Williamson, said in a Zoom interview with Eyewitness News that he expects this trend to continue. “If we don’t see an end to this […]
Twitter adopts “poison pill” plan to counter Elon Musk’s bid
Twitter on Friday said it adopted a “poison pill” plan that could block billionaire Elon Musk from significantly increasing his stake in the social media company. The counter-measure comes a day after Tesla CEO Musk unveiled a $43 billion hostile offer for Twitter. In a statement, Twitter said that the new plan will reduce the […]
In an unexpected move, China holds back on cutting key rate
China’s central bank kept a key interest rate unchanged on Friday in a surprise move, despite expectations for more stimulus as Beijing grapples with a Covid surge. The People’s Bank of China said it was keeping the rate on its one-year medium-term loan unchanged at 2.85%. The Asian giant is facing its worst Covid outbreak […]
China’s lockdowns are a greater threat to inflation today than in 2020, Bernstein says
BEIJING — China’s latest Covid lockdowns are a greater risk for global inflation today than they were in 2020, Bernstein analysts said. That’s because the world has become more reliant on Chinese goods since the pandemic began, the analysts said in an April 8 note. China’s share of exports globally rose to 15.4% in 2021, […]
Mortgage rates reach 5% for first time in over a decade
The average interest rate for America’s most common home loan has reached a high not seen in more than 10 years, Freddie Mac said Thursday. The 30-year fixed-rate mortgage sits at 5%, up from 4.72% last week, according to the mortgage-lending giant’s latest weekly Primary Mortgage Market Survey. At this time last year, the average […]
NFT of Jack Dorsey’s first tweet listed for $48M ends with top bid of less than $280
A non-fungible token (NFT) of former Twitter CEO Jack Dorsey’s first tweet that went up for auction last week failed to excite potential buyers after the seller expected to make millions and give some to charity. An auction for the NFT, which was purchased last year for $2.9 million by Iranian-born crypto entrepreneur Sina Estavi, […]