Global FinTech Revolut plans to offer its customers in the United Kingdom new trading products and features after receiving a U.K. trading license from the Financial Conduct Authority (FCA). The receipt of this license makes Revolut Trading an authorized investment firm, allowing it to improve...
DailyPay added an international remittance feature to its platform. The new addition is powered by the financial technology solution ReadyRemit by Brightwell and Visa Direct. It lets users send money to friends and family worldwide “at the tap of a button” without needing to wait...
Reuters reported late Wednesday that a Moscow court has frozen $372 million in assets held by Bank of New York Mellon and JPMorgan Chase. The funds were held in accounts at the Russian branches of Citibank and JPMorgan Chase Bank. The court order, issued Wednesday...
Economic growth in China reportedly fell to its slowest pace in five quarters. The surprise slowdown came as a decline in consumer spending hamstrung an increase in exports, Bloomberg reported Monday (July 15). Gross domestic product grew 4.7% year over year in the second quarter,...
Sportsbooks and daily fantasy operators are reportedly awaiting a bump in Summer Olympics-related betting. As CNBC noted in a report Thursday (July 11), this year’s Paris games will be the first Olympiad since the widespread legalization of gambling in the U.S. The industry anticipates an uptick in betting compared...
Microsoft is requiring staff in China to use iPhones for work starting in September. The measure essentially bans Android-powered devices for these workers and is part of Microsoft’s Secure Future Initiative, designed to make sure all employees use the Microsoft Authenticator password manager and Identity...
After 30 years of barring foreigners from its banking sector, Ethiopia is reportedly considering allowing overseas banks to buy stakes in domestic lenders. A bill moving through the country’s legislature would allow overseas firms to buy stakes in domestic banks, set up subsidiaries, open branches,...
Foreign credit card transactions are reportedly bringing more foreign currency into inflation-plagued Venezuela. That’s according to a report Thursday (June 13) by Reuters, citing four public sector and finance sources who said these transactions have been growing steadily since the government loosened currency controls five years ago,...
The City of London, the administrator of the financial district of the United Kingdom, is reportedly grappling with concerns about the district’s competitiveness and the need for foreign investment. The city’s policy leader, Chris Hayward, emphasized the importance of attracting foreign investment to boost growth and enhance...
