Search Results for: Allen
Samsung becomes latest firm to launch mobile wallet in China
March 29th, 2016
Samsung has officially launched its mobile wallet service in China, in co-operation with local vendor UnionPay. Instead of using cards, the service allows shoppers to use their smartphones to pay for in-store purchases. Last month, Apple launched its own ...
‘Perfect Storm’ of events dampens optimism among financial services firms – CBI/PwC
March 29th, 2016
Optimism among firms in the financial services sector has fallen at the fastest rate since 2011, according to the latest CBI/PwC Financial Services Survey. The quarterly survey of 104 financial services firms found that respondents in banking and investment ...
IBM blockchain leader Jerry Cuomo using ‘shadowchains’ to launch moonshots
March 28th, 2016
IBM has been building momentum behind blockchain by championing the Linux Foundation’s Hyperleder Project and creating its own Open Blockchain (OBC) among other things. IBM’s vice president of blockchain Jerry Cuomo, who recently gave testimony before US Congress about ...
HSBC reports on Oil prices scenarios
March 24th, 2016
Despite hopes that lower oil prices will stabilise global growth, experience suggests otherwise. Growth was disappointing in 2015 even though the oil price had plunged in 2014. While developed-world consumer spending grew at the fastest rate since before the ...
Helicopter Money: Global Central Banks Consider Distributing Money Directly To The People
March 24th, 2016
Should central banks create money out of thin air and give it directly to governments and average citizens? If you can believe it, this is now under serious consideration. Since 2008, global central banks have cut interest rates 637 ...
British and Australian financial regulators sign agreement to support innovative businesses
March 23rd, 2016
Under a new world-first agreement, innovative fintech companies in Australia and the United Kingdom will have more support from financial regulators as they attempt to enter the others’ market. As a result of the agreement signed today, the UK’s Financial ...
J.P. Morgan Executives Say Regulators Should Approve IEX as Exchange
March 23rd, 2016
The country’s largest bank is siding with upstart market IEX Group Inc. in its effort to create a new stock exchange that pledges to be a haven for long-term investors. Executives at J.P. Morgan Chase & Co. say regulators should approve IEX’s ...
Credit Suisse accelerates its restructuring
March 23rd, 2016
Tidjane Thiam, Chief Executive Officer of Credit Suisse, commented: “Our recent performance has highlighted further two key areas of challenge for Credit Suisse: – Our fixed cost base, and – Our scale in Global Markets in the Americas and ...
HMRC Welcomes Bank Bonus Tax Scheme Ruling
March 22nd, 2016
HM Revenue and Customs (HMRC) has welcomed a court ruling against a major tax avoidance scheme used by banking giants UBS and Deutsche Bank, in which the agency successfully argued that the scheme had been designed to avoid around ...
Deloitte Predicts Rise in Blockchain-Based Payments
March 22nd, 2016
Deloitte’s Center for Financial Services has released a report forecasting transformation of the banking industry over the coming decade due to disruptive technology. The Banking Industry Outlookreport estimates that blockchain-based payment systems could equal the volume of the United States’ Automated Clearing ...
