The U.S. Commerce Department on Monday proposed prohibiting key Chinese software and hardware in connected vehicles on American roads due to national security concerns – a move that would effectively bar nearly all Chinese cars from entering the U.S. market. The planned regulation, first reported by Reuters, would also force American and other major automakers […]
BEIJING — China will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio, or RRR, by 50 basis points, People’s Bank of China Gov. Pan Gongsheng said during a press conference on Tuesday. Pan, who was speaking to reporters alongside two other financial regulator heads, did not […]
Global bank partners with Quantinuum to shield digital assets from quantum threats, enhancing security for institutional and retail investors in fintech se HSBC, the multinational banking and financial services organisation, has successfully trialled quantum-secure technology for trading tokenised physical gold. This development marks a significant advancement in protecting digital assets against future quantum computing attacks, […]
Authorized Push Payment (APP) fraud has been notoriously difficult to fight against because it involves consumers voluntarily transferring assets to fraudulent accounts. In most cases, bad actors target their victims through social engineering or impersonating a real person or company. “There is obviously a technology piece that plays a role here, but there’s also a […]
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% […]
