Mobile Payments Outperform Debit Cards in Argentina
Mobile payments are thriving in Argentina, leaving behind other traditional payment methods, including credit and debit cards. According to the central bank’s monthly report on retail payments, this type of payment has thrived, accounting for 60% of payment transactions made, while plastic-based means of payment have stagnated, registering a drop in usage. Mobile Payments Keep […]
Biggest Merger Will Rattle India’s Debt Market as Top Seller Exits
The biggest merger in India’s history is likely to take one of its major issuers away from the rupee bond market, an absence that may weigh on debt sales and deal fees for banks. The consolidation of Housing Development Finance Corp. and HDFC Bank Ltd. will create a financial services giant of more than $200 […]
Investors Overseeing $5 Trillion are Betting That an Economic Downturn Can Be Avoided
Professional investors are loading up on bets that an economic downturn can be avoided despite all warnings to the contrary. It’s a dangerous gamble, for a variety of reasons. Money managers have been favoring economically sensitive stocks, such as industrial companies and commodity producers, according to a Goldman Sachs Group Inc. study on the positioning […]
Elon Musk Says Apple is ‘Fully’ Advertising on Twitter Again
Elon Musk said Apple Inc. has “fully resumed” advertising on Twitter Inc., further reducing a war between two of the world’s most influential tech companies. Musk made the comments during a Twitter Spaces conversation on Saturday, adding that Apple is the biggest advertiser on the social network. The billionaire, who gave no further details about […]
China’s BYD to Launch Electric Vehicles in Mexico Next Year
Chinese electric vehicle maker BYD announced it will launch its cars in Mexico next year, with a senior executive setting its sales target at up to 30,000 vehicles by 2024. Next year, BYD will start selling all-electric versions of its Tang sport utility vehicle (SUV) alongside its Han sedan through eight dealerships across Mexico, the […]
Toyota’s Production Slow from September’s Record as Challenges Persist
Toyota Motor Corp. said it produced 771,382 vehicles in October, down from a record 887,733 the previous month, and warned of an uncertain outlook due to shortages of Covid and semiconductors. Production is up 23% since October 2021, when supply chains were disrupted by the spread of Covid in Southeast Asia, Toyota said in a […]
China’s Markets Fall as Covid Protests Make Investors Nervous
Chinese assets plunged on Monday as a sense of chaos and uncertainty gripped traders after growing protests against Covid restrictions complicated the nation’s path to reopening. The Hang Seng China Enterprises Index fell more than 2% in afternoon trading, with technology and real estate stocks leading the decline. The onshore Yuan weakened 0.6% against the […]
Putin Calls for International Agreements Based on Blockchain and Digital Currencies
Russian President Vladimir Putin believes a new system for international money transfers is needed to reduce dependence on big banks and third parties. He is convinced that cross-border payments that rely on digital currency and distributed ledger technology will be “much more convenient.” Russian President Vladimir Putin has called for the establishment of a new […]
UK Faces Cash Shortage as G4S Cash Delivery Staff Vote to Strike
Hundreds of workers at British security company G4S voted to strike for 48 hours in early December in a wage dispute, according to the GMB union, warning that the strike could cause cash shortages over the Christmas period. G4S workers hand over cash and coins to banks, including Barclays, HSBC, and Santander, as well as […]
Credit Suisse Cuts Top Bank Charges in Asia as Review Begins
Credit Suisse Group AG has begun cutting senior banking jobs in Asia, including three managing directors of investment banking and financing, as the Swiss giant carries out its plan to reduce global headcount by 9,000, people familiar with the matter said. Among the bankers fired were Johnson Chui, head of Asia-Pacific equity capital markets, Karen […]