Markets

The Biden Administration has revealed that over 200 entities including Apple, Amazon, Mastercard, OpenAI, Nvidia, Visa, and JP Morgan have agreed to attend the latest US Consortium. Gina Raimondo, US Commerce Secretary, stated that the recent consortium is expected to...

Barclays has announced the acquisition of Tesco Bank’s savings, loans, and credit cards operations. The £600 million agreement has an initial deal lasting 10 years. The deal sees about 2,800 Tesco Bank workers operating on banking products will be transferred...

Nasdaq Private Market (NPM) has secured $62.6 million in a funding round with backing from some renowned banks. This funding round was steered by Nasdaq. Current investors like Goldman Sachs, Citi, and Allen & Company all played a major part...

World’s largest bank JPMorgan Chase has been declared a top bank in artificial intelligence (AI) research. This was According to a recent report by Evident, a benchmarking platform. The report shows that the firm has increased the percentage of AI...

Santander has reportedly filed a complaint with Britain’s advertising regulator against a Nationwide advertisement campaign. The firm claims that the advertisement denigrates and dishonors the high-level street banking division. In the latest report, the company sent a message to the...

The Hong Kong and Shanghai Banking Corporation Limited (HSBC) has announced a strategic partnership with Google Cloud. This collaboration is aimed at providing venture debt financing options to climate technology businesses. Both parties are looking to support the climate firm...

The Chief Executive Officer of Ripple, Brad Garlinghouse, has reported that the XRP wallet of Chris Larsen, Ripple’s Co-founder, has been hacked. The hackers, which are yet to be discovered, have stolen 213 million XRP tokens worth $112 million. The...

Deutsche Bank has announced that it will reduce its workforce by 3,500 workers as part of a bigger plan to enhance operational efficiency. The German-based bank saw a significant 14% decline in net income amounting to €4.9 billion. It started...

Valentine’s Day is approaching, which means that many will be looking for opportunities, special deals, and other advantages related to the upcoming day of romance. Unfortunately, according to CFTC, there has also been a spike in romance scams, especially the...

In a recent report, the Bank of International Settlements (BIS) warned that the metaverse could place new demands on payment services. It also pointed out that these demands may be better met by central bank digital currencies (CBDCs)and retail faster...

Banking giant Goldman Sachs was recently fined by the Financial Industry Regulatory Authority (FINRA) for failing to adequately monitor trading activity in certain securities over a prolonged period of time. The regulator has issued a $512,500 fine after finding that...

JPMorgan Chase recently shared plans to expand the number of its branches, intending to open as many as 500 new ones over the next three years. The move comes as part of the multi-billion dollar investment in its network. JPMorgan...

UK-based financial firms regulated by the Financial Conduct Authority (FCA) need to prepare for misconduct and harassment surveys which will be starting next week, in mid-February. The regulator confirmed that it has already delivered the first series of questionnaires to...

The UK has been making efforts to introduce new regulations into the local crypto industry, with one of the steps being stablecoin regulations. However, while this move found strong approval, the country’s move to also enhance rules in the custody...

Crypto custody firm BitGo recently acquired a fintech called Brassica — a company that specializes in providing back-end infrastructure services for alternative investments and private securities. The details of the acquisitions were not revealed to the public, but the implications...