EU moves closer to launching digital euro
The EU on Wednesday took its first significant step towards launching a digital version of the euro, a controversial project that has been questioned by politicians and banks.
Jun 28, 2023
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Business
The EU on Wednesday took its first significant step towards launching a digital version of the euro, a controversial project that has been questioned by politicians and banks.
Jun 28, 2023
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1
Business
The Bank for International Settlements (BIS) said Tuesday that decentralized cryptocurrencies are a "flawed system" and instead supported the development of a centralized alternative.
Jun 20, 2023
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Consumer & Gadgets
Cashless societies, where transactions are entirely digital, are gaining traction in many parts of the world, particularly after a pandemic-era boom in demand for online banking.
Jun 8, 2023
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Energy & Green Tech
A full 675 million people worldwide still lack access to electricity, mainly in sub-Saharan Africa, according to a report published Tuesday by several international organizations.
Jun 6, 2023
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Business
Airlines will return to profit and fly a near-record 4.35 billion passengers this year, but the sector's post-pandemic recovery remains fragile, an industry group said on Monday.
Jun 5, 2023
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Business
A defining characteristic of cryptocurrencies is that they are organized in a decentralized system and are not managed by a central bank like conventional currencies. This creates problems when researchers detect security ...
May 8, 2023
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Security
Good news for all the password-haters out there: Google has taken a big step toward making them an afterthought by adding "passkeys" as a more straightforward and secure way to log into its services.
May 4, 2023
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Business
From chatbots and virtual assistants to fraud detection and risk management, artificial intelligence (AI) is now being used in many areas of finance. But what could an AI system like ChatGPT do for your bank balance?
Apr 25, 2023
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Security
A global police operation has shut down one of the world's largest online marketplaces where cybercriminals can buy stolen identities and passwords, law enforcement agencies said on Wednesday.
Apr 5, 2023
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Consumer & Gadgets
Apple is getting into the buy now, pay later space with a few tweaks to the existing model—including no option to pay with a credit card. The company will roll out the product to some consumers this spring, and will begin ...
Mar 28, 2023
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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