Could cryptocurrency dethrone the dollar?
Bank of England governor Mark Carney has suggested that a virtual currency, modelled on Facebook's Libra, could one day replace the dollar as king of the foreign exchange market.
Sep 1, 2019
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Business
Bank of England governor Mark Carney has suggested that a virtual currency, modelled on Facebook's Libra, could one day replace the dollar as king of the foreign exchange market.
Sep 1, 2019
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Security
Hackers had access for months to the contact information of hundreds of financial industry subscribers to a European Central Bank newsletter, the Frankfurt institution said Thursday.
Aug 15, 2019
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Internet
As Facebook touts a new cryptocurrency as a way to serve people who are underbanked, mobile technology companies may provide the same path to financial services using good old-fashioned dollars.
Jul 24, 2019
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After surviving a two-day battering on Capitol Hill, now comes the hard part for Facebook Inc.: turning its 12-page white paper into a legitimate cryptocurrency in the face of deep skepticism from central banks, regulators ...
Jul 18, 2019
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Business
Facebook's planned global digital coin Libra has run into a wall of opposition in Washington that could prevent its launch as envisioned, but analysts say cryptocurrencies are likely to make gains around the world nonetheless.
Jul 18, 2019
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Business
US senators Tuesday questioned whether Facebook can be trusted to manage its proposed Libra digital currency in the first public hearing into the plan on Tuesday.
Jul 17, 2019
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Business
As the US capital traded stifling summer heat for cool autumn breezes, signs began appearing at bus stops, asking Washington commuters: what do you think about buses going cash-free?
Oct 28, 2018
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Security
The Change Healthcare cyberattack that disrupted health care systems nationwide earlier this year started when hackers entered a server that lacked a basic form of security: multifactor authentication.
May 1, 2024
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Business
Shares of Ibotta, a Walmart-backed digital company that offers customers cash-back rewards and rebates on grocery brands ranging from Nestle to Coca-Cola, rose 17% in their Wall Street debut.
Apr 18, 2024
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Business
Joseph Ngono's face lights up with a smile as he looks at his smartphone, where a payment worth $830 has just appeared in his digital wallet.
Mar 12, 2024
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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