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WeBank Eyes 'Open Consortium Chain 2.0' Amid Shift to More Public-Oriented Blockchains

Sep 22, 2023 11:21 am UTC| Economy Fintech Business

WeBank, Chinas leading digital-only bank, aims to transition from its permissioned consortium blockchains toward more public-oriented ones, highlighting the potential of Open Consortium Chain 2.0. As it seeks greater...

Digital Currency Revolution

Citi Unveils Blockchain Platform 'Citi Token Services' for Enhanced Digital Asset Interaction

Sep 19, 2023 06:06 am UTC| Economy Fintech Digital Currency Business

CitiGroup introduced its groundbreaking Citi Token Services blockchain platform, offering institutional clients 24/7 access to tokenized deposits, cross-border payments, and automated trade finance capabilities. Shahmir...

JPMorgan, Citibank Korea Face FTC Penalties Over Collusion; Supreme Court Upholds Ruling

Sep 14, 2023 05:54 am UTC| Business Economy Fintech

The Supreme Court upheld penalties against Citibank Korea, JPMorgan, and two others imposed by the Fair Trade Commission (FTC) over alleged collusion in currency exchange swap transaction bids with state...

PayPal Unveils Direct Crypto to US Dollars Conversion; MetaMask Integration Goes Live

Sep 13, 2023 04:11 am UTC| Economy Digital Currency Business Fintech

PayPal expands its digital asset services, introducing innovative methods for buying and selling cryptocurrencies like Bitcoin. The latest feature, now live on MetaMask, offers U.S. customers seamless transactions within...

Visa, Mastercard to Hike Merchant Fees with Emphasis on Online Transactions

Aug 31, 2023 01:02 am UTC| Economy Fintech Business

Visa and Mastercard plan to hike merchant fees, especially for online transactions, starting October and April, The Wall Street Journal reveals. These changes may cost merchants millions more annually, intensifying...

Digital Currency Revolution

Western Union Ventures into Cryptocurrency with Ripple's Blockchain Technology

Aug 28, 2023 02:36 am UTC| Economy Fintech Business Digital Currency

Western Union, the global money transfer leader, is delving into cryptocurrencies by collaborating with Ripple to integrate its XRP technology, aiming for swifter, cost-efficient transactions. During an analyst...

K Bank Sees 41.4% Q2 Profit Surge Amid 31% YoY Net Income Drop

Aug 15, 2023 09:40 am UTC| Economy Fintech Business

K Banks Q2 net profit soared 41.4% quarter-over-quarter to $11 million, marking its ninth consecutive profitable quarter, but witnessed a 31% year-on-year decline. Expanded operations and a diversified loan portfolio drove...

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Economy

India’s Investment Upgrade: A Historic Milestone for the "High-Quality EM" Narrative

SP Global has raised Indias sovereign credit rating to BBB from BBB-, with a Stable outlook, indicating the agencys first upward change for the country in 18 years. This major step increases Indias long-term rating one...

Asian Markets Rally as Oil Prices Tumble and Middle East Peace Hopes Emerge

Asian stock markets posted strong gains on Wednesday, driven by a sharp decline in oil prices and growing optimism over a potential diplomatic resolution in the Middle East. The broad-based rally swept across the region,...

Australia's Inflation Eases in February but Core Pressures Persist

Australias consumer inflation dipped slightly in February, though stubborn underlying price pressures are keeping the Reserve Bank of Australia cautious about cutting interest rates anytime soon. According to the latest...

Oil Prices Plunge Over 6% as Middle East Ceasefire Hopes Ease Supply Fears

Global oil prices dropped sharply on Wednesday during Asian trading hours, with Brent crude falling below the $100 per barrel mark for the first time in recent sessions. The steep selloff came after emerging signs of a...

Currency Markets Show Caution Amid U.S.-Iran Negotiations

Global currency markets displayed muted movement during early Asian trading on Wednesday, as investors remained cautious following conflicting signals surrounding U.S.-Iran peace negotiations. President Donald Trump...

Politics

Trump's Overhaul of American History: Museums, Monuments, and Cultural Institutions

Since returning to the White House, President Donald Trump has launched a sweeping campaign to reshape how American history is presented across cultural institutions, national parks, and public monuments. Framing his...

Pakistan's Diplomatic Rise: Mediating U.S.-Iran Peace Talks

Pakistan is emerging as a key global mediator in efforts to end the ongoing U.S.-Iran conflict, leveraging its unique position as a trusted contact for both Washington and Tehran. This diplomatic role could elevate...

US Accelerates Taiwan Arms Deliveries Amid Rising China Threat

Taiwans Defense Minister Wellington Koo confirmed Wednesday that the United States has expressed a strong sense of urgency in bolstering Taiwans military capabilities, with active efforts underway to resolve long-standing...

Trump Administration Settles Lawsuit Barring Federal Agencies from Pressuring Social Media Censorship

The Trump administration has reached a landmark settlement that prohibits three major federal agencies from coercing social media platforms into removing or suppressing constitutionally protected speech. The agreement,...

Cuba Receives Humanitarian Aid Convoy Amid U.S. Sanctions

Cuba welcomed a long-awaited shipment of international humanitarian aid on Tuesday, as activists from the global Nuestra America Convoy successfully delivered essential supplies to the island nation despite ongoing U.S....

Science

SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision

SpaceX CEO Elon Musk has revealed a significant shift in the companys near-term space exploration strategy, announcing that SpaceX is now prioritizing the development of a self-growing city on the Moon rather than focusing...

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Technology

SK Hynix Eyes Up to $14 Billion U.S. IPO to Fund AI Chip Expansion

South Korean memory chip giant SK Hynix has submitted a confidential filing for a U.S. stock market listing in 2026, with sources indicating the move could raise as much as $14 billion. The company intends to offer...

Meta Ties Executive Pay to Aggressive Stock Price Targets in Major Retention Push

Meta Platforms made a significant move this week by granting restricted stock units and stock options to several of its most senior leaders, including Chief Financial Officer Susan Li and Chief Technology Officer Andrew...

SpaceX IPO Filing Expected This Week as Valuation Could Surpass $75 Billion

Elon Musks SpaceX is reportedly moving closer to going public, with plans to submit its initial public offering prospectus to regulators as early as this week or next, according to a report by The Information citing a...

OpenAI Pulls the Plug on Sora, Ending $1 Billion Disney Partnership

OpenAI has officially shut down Sora, its AI-powered video generation tool, in a move that blindsided partners and staff alike and effectively ended a landmark deal with Walt Disney Co. The decision marks a major...

Golden Dome Missile Defense: Anduril and Palantir Join Forces on Trump's $185B Space Shield

Tech-forward defense companies Anduril Industries and Palantir Technologies are reportedly joining forces to develop critical software for the United States most ambitious missile defense initiative to date the Golden...