In today’s top news, experts say 50 percent of people could lose their jobs due to current restrictions in place to prevent the spread of the coronavirus, and Travelex parent Finablr said it could be in danger of collapse. Plus, the U.S. Federal Reserve promised to help maintain the flow of credit to households and businesses.
Experts say some 50 percent of people could end up unemployed due to the restrictions in place to prevent the spread of the coronavirus. Virtually every industry is expected to be affected.
Finablr, which owns Travelex, said that it could be in danger of collapsing, and the Financial Conduct Authority (FCA) has frozen its trading. The payments company discovered about $100 million of undisclosed financing, and said it doesn’t feel certain of its financial health because of the discovery.
The U.S. Federal Reserve announced that it is prepared to use its “full range of tools” to help households and businesses, and to stay on top of employment and price stability targets during the coronavirus crisis.
Uber is pledging to deliver free meals to first responders and healthcare teams working on the front lines of the coronavirus pandemic across the U.S. and Canada. The ride-hailing giant will coordinate with local, state and provincial governments to deliver over 300,000 meals.
Corporate banking products can have a profound impact on the success of an organization. But with each enterprise at a different point in their digitization journey, financial institutions’ offerings aren’t one-size-fits-all. JPMorgan's Head of Wholesale Payments Solutions Lia Cao told Karen Webster that serving the modern treasurer means meeting corporates where they are today to help them get to where they want to be tomorrow.
Will the coronavirus usher in a new age of digital IDs? Maybe, but the groundswell is already in place. In an interview with Karen Webster, Philipp Pointner, chief product officer at Jumio, said Australia’s recent efforts to bring digital IDs and biometrics to government services may spur adoption of digital passports — and the ripple effect may extend from there.
The latest rumors about Apple buying Walt Disney Co. aren’t new — they go back to Disney’s 2006 acquisition of Pixar. But now might be the golden opportunity for Apple to snap up Disney at a bargain price and generate a win-win for both firms, writes Rosenblatt Securities Analyst Bernie McTernan. The current market volatility could be the push this long-whispered rumor has been waiting for.