Asia-Pacific markets mostly higher Monday as investors digested monetary policy decisions from Japan and China as well as the U.S. Federal Reserve’s sharp rate cut last week. Data last Friday showed China’s youth unemployment rate rose for a second straight month to its highest level this year, according to the National Bureau of Statistics, as the […]
The threat of port strikes on the East Coast and Gulf of Mexico is sending shockwaves through the supply chain, and raising concerns that there will be an uptick in inflation. “Goods trans-shipped across the country are not only going to be late but they will cost more, e.g., apparel meant for early winter and […]
Elon Musk backed down and decided to comply with court orders in Brazil, an attempt to end a monthslong clash that culminated in million-dollar fines and the banning of his social network X in Latin America’s largest economy. X appointed a legal representative in the country on Friday, seeking to obey a deadline imposed by […]
The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India. The New York-based investment firm Blackstone, which owns Motel 6′s parent company G6 Hospitality, announced Friday that the deal would be an all-cash transaction worth $525 million. The transaction will also include the sale […]
According to Bloomberg, the retail giant is tapping into Fiserv’s NOW Network, which integrates with The Clearing House’s Real Time Payments network and the Federal Reserve’s FedNow. The feature – coming next year – provides shoppers with an alternative to the card networks, which Walmart and other retailers have long been in conflict with over […]
Singapore’s dtcpay is teaming up with Visa on a card that enables ultra high net worth individuals to convert their digital currencies such as stablecoins into fiat at real-time rates. Dtcpay says the partnership will help bridge the gap between traditional payments and digital currencies, enabling merchants to accept payments from a growing segment of […]
Boeing (BA.N), opens new tab said on Friday the head of its troubled space and defense unit is leaving the company immediately, in the first management change under new CEO Kelly Ortberg. Ortberg who took over in August said Ted Colbert would be leaving and Steve Parker, the unit’s chief operating officer, would assume Colbert’s […]
Federal Reserve Governor Michelle Bowman on Friday issued a statement explaining her decision to dissent from the central bank’s decision to cut interest rates by 50 basis points. The Federal Open Market Committee (FOMC), the Fed’s policymaking arm, lowered its target range for the benchmark federal funds rate from a range of 5.25% to 5.5% […]
Crypto.com has secured full approval from the Central Bank of Bahrain to operate as a payment service provider (PSP) through its local subsidiary. This approval enables Crypto.com to expand its payment services in the region, including e-money offerings as well as the introduction of its prepaid cards. Bahrain’s Minister of Sustainable Development, H.E. Noor bint Ali Alkhulaif, welcomed the company’s […]
2024 is proving another standout year for the regulatory space, finding itself under the spotlight, for better and worse reasons. This month, The Fintech Times will look at some of the biggest issues regarding compliance and financial rules, as well as the solutions hoping to ease the compliance journey for firms and make the fintech world fairer […]
US stocks soared, with the Dow Jones Industrial Average (^DJI) closing above the 42,000 level for the first time amid growing optimism that the Federal Reserve’s jumbo interest rate cut will deliver a “soft landing” for the US economy. The S&P 500 (^GSPC) climbed roughly 1.7%, while the Dow rose more than 1.2%, with both […]
Nike on Thursday announced that its CEO John Donahoe is stepping down and company veteran Elliott Hill is coming out of retirement to take the helm of the sneaker giant. Donahoe, who has been Nike’s CEO since Jan. 2020, will retire from his position on Oct. 13. Hill is slated to take over on the following […]
