Shopify joins nonprofit behind Facebook's Libra currency
Online commerce platform Shopify on Friday said it has joined the nonprofit association behind Facebook's planned Libra cryptocurrency.
Feb 21, 2020
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Online commerce platform Shopify on Friday said it has joined the nonprofit association behind Facebook's planned Libra cryptocurrency.
Feb 21, 2020
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Singapore is opening up its banking industry to digital lenders in a reform that could shake up the sector across Southeast Asia, with Chinese billionaire Jack Ma and ride-hailer Grab among those seeking licences.
Jan 12, 2020
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The Justice Department unsealed charges Thursday against the alleged leader and a top associate of a Russian cybercriminal gang that U.S. and British officials say developed and distributed malware used to steal at least ...
Dec 5, 2019
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Microsoft is hiring former U.S. Attorney General Eric Holder to review its investment in a facial recognition startup that scans faces at Israeli military checkpoints.
Nov 16, 2019
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Twenty European banks are working on setting up a pan-European payment system to challenge the dominance of Visa, Mastercard and technology companies such as Google and PayPal, European banking and government sources said ...
Nov 5, 2019
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China has launched an ambitious effort to challenge the US dominance in blockchain technology, which it could use for everything from issuing digital money, to streamlining a raft of government services and tracking Communist ...
Nov 3, 2019
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A massive data breach last year at Desjardins credit union has turned out to be bigger than originally thought, affecting all 4.2 million of its customers, Canada's largest banking co-operative said Friday.
Nov 1, 2019
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Facebook's controversial plans for a new digital currency will again come under scrutiny of finance officials from Group of Seven economies Thursday, who worry it undermines their hold over the global financial system.
Oct 17, 2019
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As Facebook readies to launch its answer to bitcoin, China is set to introduce its own digital currency—one that could allow the government and the central bank to see what people spend their money on, according to analysts.
Oct 15, 2019
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Pioneering digital payments firm PayPal on Friday said it is abandoning an alliance intended to oversee the Facebook-backed Libra cryptocurrency, which has come under attack by regulators.
Oct 4, 2019
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A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:
Because of the important role depository institutions play in the financial system, the banking industry is generally regulated with government restrictions on financial activities by banks varied over time and by location. Current global bank capital requirements are referred to as Basel II. In some countries, such as Germany, banks have historically owned major stakes in industrial companies, while in other countries, such as the United States, banks have traditionally been prohibited from owning non-financial companies. In Japan, banks are usually the nexus of a cross-share holding entity known as the "keiretsu". In Iceland, banks followed international standards of regulation prior to the recent global financial crisis that began in 2007.
The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472.
A Bank's main source of income is interest paid on loans. A bank pays out at a lower interest rate on deposits and receives a higher interest rate on loans. The difference between these rates represents the bank's net income. Banks also generate non-interest income from service fees for Retail and Business banking products, transactional fees, or other non-traditional services such as Trust and Wealth Management consulting, Insurance, Cash Management services, Mortgage loan closing costs and points.
This text uses material from Wikipedia, licensed under CC BY-SA