TransferWise has snagged a big pile of investment dollars in a round led by one of the Facebook’s earliest backers, Andreessen Horowitz. The UK-based P2P money transfer startup and Facebook have reportedly been in talks that would see TransferWise provide remittance services for the social networking...
Andrei Kostin, chief executive of Russia’s second-largest bank VTB, warned Friday that keeping his country from the Swift banking payment system would be tantamount to “war”. The possibility that Russia might be locked out of Swift has set off alarm bells in Moscow’s financial community as...
The U.K.’s Institute of Directors has warned large businesses that the “scandal” of late payments is undermining the country’s economic recovery, and said the big corporations risked regulation by failing to pay their bills on time, the Financial Times reported. The business group, which represents...
Russia’s answer to Amazon, Ulmart, has confirmed that it plans to IPO in the next year. Russia’s leading e-commerce company confirmed early today (January 21) that it will go public in a yet-to-be-determined Western stock exchange and that it is considering using the IPO to...
Uber CEO Travis Kalanick said he wants to expand operations in Europe, creating 50,000 jobs there and taking 400,000 personal vehicles off the road, according to Re/code. At the DLD Conference in Munich on Sunday (Jan. 18), Kalanick also said the ride-sharing service isn’t opposed...
Just days after Russia’s central bank said both MasterCard and Visa are back in its good graces, the payment-card giants are being prodded by the central bank next door. President Alexander Lukashenko of Belarus said the National Bank of Belarus should look for alternatives to...
Global payments firm peerTransfer announces today (January 13) that it closed a major funding round and hit a key profitability milestone. peerTransfer is an efficient, cost effective and transparent alternative to the existing friction-laden international funds transfer services, including bank wire. peerTransfer’s global payments platform...
A group of cyberthieves who breached online security at a small Swiss bank published identifying details about 30,000 customers on Friday (Jan. 9), after the bank refused to pay a ransom, Bloomberg reported. A group calling itself Rex Mundi said it hacked into the servers...
U.K. supermarket giant Tesco said Thursday (Jan. 8) that it will dump nearly 100 stores, lay off thousands of employees, and possibly sell Dunnhumby, the customer-data subsidiary responsible for the chain’s highly successful loyalty program, The Guardian reported. The dramatic overhaul comes after disappointing holiday...