Vijay Ayyar, Luno’s VP of corporate development and international, is leaving the Digital Currency Group-owned crypto exchange after seven years. The departure came after the company shut down its Singapore operations, where Ayyar is based, but he insisted it was unrelated. Ayyar said he left to join another crypto and Web3 company but did not …
Embattled Crypto Exchange Loses Top Executive Amid Turmoil Read More »
US regulators worked to resolve the First Republic Bank crisis after the deadline for submitting final bids to take over the struggling lender passed. The Federal Deposit Insurance Corp asked banks, including JPMorgan Chase, PNC Financial Services Group, and Citizens Financial Group, to submit offers. Bank of America and US Bancorp were also invited but …
First Republic Bank Crisis: Feds Work Overnight After Bid Deadline Read More »
China, Hong Kong, and Taiwan stock exchanges will remain closed on May 1 for the May Day holiday. Mainland China’s stock exchanges will also close on Tuesday and Wednesday of the following week and reopen on May 4. Breaking news traders can look to listed mainland-listed businesses such as Alibaba, JD.com, and PDD, and Ctrip …
May Day Holiday: Greater China Stock Exchanges Closed Today Read More »
US regulators want final takeover offers for First Republic by Sunday to bring stability to the market and reduce uncertainty for regional lenders. JPMorgan Chase and PNC are expected to bid for the ailing lender, which would be seized and promptly sold to the winner. The Wall Street Journal reported both banks’ interest on Friday. …
JPMorgan Chase, Bank of America seek final bids for First Republic Read More »
A survey by Clever Real Estate found that high inflation in the US is causing record high levels of stress for 61% of respondents. 80% of those surveyed are stressed about the cost of living. Financial struggles are having the most significant impact on Americans’ mental state, with not having enough emergency savings being the …
Survey: Financial stress majorly affects mental health of Americans Read More »
Teddy Flo, the general counsel at Zest AI, emphasizes the importance of promoting digital transformation in financial services. He believes that every aspect of the industry needs to be transformed to provide better customer service and enrich their relationship with banks and nonbanks. The ultimate goal should be fair and inclusive access to capital, which …
AI’s Impact on Financial Services: Opening Up New Opportunities Read More »
US tech firms have laid off 131,000 workers this year, but fintech companies are hiring. Though, fintech roles may require different skill sets than traditional tech jobs due to their startup culture and value on interpersonal skills. Fintech hiring managers seek adaptable individuals with grit, as the environment can be unpredictable. Katie Hamm, a senior …
Charles Nenner, former head of market timing at Goldman Sachs, warns of the end of the US dollar hegemony and its consequences. He predicts the BRICS bloc and Saudi Arabia’s influence will undermine the dollar as a reserve currency, leading to a flight to safety. Nenner, a renowned financial cycles analyst, recently changed his previous …
Charles Nenner’s Warning: US Dollar’s End and Consequences Read More »
China, the world’s top greenhouse gas emitter, aims to be carbon neutral by 2060. Beijing is taking steps towards sustainable finance but faces challenges as high-carbon loans make up a large share of financial institutions’ assets. However, China’s commitment to emission reduction offers a vast potential for green finance, with its market already valued at …
UK digital finance firms face fundraising challenges due to higher interest rates and investor caution after the Silicon Valley Bank collapse. The Bank of England raised rates 11 times since Dec 2021 to curb inflation, impacting funding costs. Monzo CEO TS Anil, speaking at Innovate Finance conference, noted that last month’s banking sector turmoil may …
UK Digital Finance Firms Under Pressure Post-Banking Turmoil Read More »
