Search Results for: Credit card
The impoverishment of the masses
September 14th, 2016
Feudal and mercantilist economic systems were characterised by the lower orders of ordinary people being enslaved by, or subjected to, the commands of an elite. Beyond basic subsistence, serfs and slaves were not enabled to consume other goods, nor ...
Oil prices fell on Tuesday on concerns over increased drilling in the United States
September 13th, 2016
Oil fell on Tuesday following a series of gloomy predictions on demand growth that suggested the global overhang of unused inventories may persist for much longer than investors anticipate and temper any pick-up in price. The International Energy Agency ...
Authorities pledge support, to issue rules for fintech
August 31st, 2016
Financial regulators are readying rules that will target financial technology businesses without limiting their room for growth as President Joko “Jokowi” Widodo pledges support for the infant industry. “I urge all parties to participate in fintech, IT and financial ...
EuroFX: How British Firms Built a Pyramid Scheme in China That Lost Millions
August 19th, 2016
The foreign exchange fraudsters hid in the cracks between international jurisdictions. As David Byrne ate breakfast at the Tongli Lakeview Hotel outside Shanghai one Sunday in April, an angry customer was waiting for him. Byrne, 52, is a British ...
Why Say’s law is always true
August 12th, 2016
One of my regular readers has raised the important subject of Say’s law, the denial of which both Keynesian and modern monetarists are emphatic. They need this fundamental axiom to be untrue to justify state stimulation of aggregate demand. ...
UK Gambling Regulator Clarifies Digital Currency Rules
August 10th, 2016
The UK’s gambling regulator has clarified its rules for digital currencies. In an update to its codes of practice issued this July, the UK Gambling Commission (UKGC) outlined how licensees can implement appropriate policies for so-called cash equivalents, a ...
Greek police arrest 24 in crackdown on tax-dodging cashless gadgets
August 9th, 2016
Greek authorities said on Monday they had arrested 24 people in a crackdown on about 1,000 small businesses suspected of dodging capital controls and value-added tax by using cashless card-processing terminals linked to banks in Bulgaria. Authorities said hundreds ...
First Data reports second Quarter 2016 financial results
August 2nd, 2016
First Data Corporation (NYSE: FDC), a global leader in commerce-enabling technology and solutions, today reported financial results for the second quarter ended June 30, 2016. Consolidated revenue for the second quarter was $2.9 billion, up 2% versus the prior year ...
3 ex-bankers jailed over Ireland’s biggest accounting fraud
August 1st, 2016
Three former senior bankers were sent to prison Friday for their roles in concealing the loss of billions in deposits at the defunct Anglo Irish Bank, the biggest accounting fraud in Irish corporate history. Judge Martin Nolan told the ...
Visa Europe Partners for Bitcoin Micropayments Trial
July 27th, 2016
Bitcoin micropayments startup SatoshiPay is developing a new proof-of-concept with Visa Europe’s innovation unit. Work on the project was first disclosed earlier this year, when Visa Europe Collab said that it was exploring bitcoin micropayments for connected devices. At the ...
