Britain’s finance ministry and the Bank of England are working to minimize the disruption that could arise from a collapse of the UK arm of Silicon Valley Bank, which has been seized by U.S. regulators, the ministry said on Saturday. Talks were scheduled for Saturday to discuss the issues faced by British tech companies affected […]
Banking
Technology executives, prominent venture capitalists and founders including OpenAI CEO Sam Altman raced this weekend to keep alive companies caught up in the collapse of Silicon Valley Bank. Friday’s dramatic failure of the bank, which focuses on tech startups, was the biggest since the 2008 financial crisis. It roiled global markets, walloped banking stocks and […]
A dramatic sell-off in U.S. bank stocks spilled over into Europe on Friday, as some of the region’s biggest banks saw their shares tumble in their largest decline in nine months. Europe’s STOXX banking index fell more than 4% and was set for its biggest one-day slide since early June, with declines for most major […]
China has unveiled plans for a sweeping central government reorganisation at its annual parliament session, including the formation of a financial regulatory body and national data bureau and a revamp of its science and technology ministry. Here are the main changes and what they mean. WHAT DOES THE RESTRUCTURING INVOLVE? A new national financial regulatory […]
China will form a new national financial regulatory body, consolidating oversight and replacing its banking and insurance watchdog as part of a wider government overhaul announced on Tuesday that includes plans for a national data bureau. The financial regulation proposal, presented to China’s parliament during its annual meeting, would bring supervision of the industry, excluding […]
Honestly, I wasn’t sure I was the right person for this interview. The article we had in mind was about a successful female banking executive in what is generally still perceived as an old boy’s club. A triumph of gender balance against the odds. Punching a hole through the glass ceiling. A woman who flew […]
Global cryptocurrency exchange Binance had secret access to a bank account belonging to its purportedly independent U.S. partner and transferred large sums of money from the account to a trading firm managed by Binance CEO Changpeng Zhao, banking records and company messages show. Over the first three months of 2021, more than $400 million flowed […]
Nine global banks have invested a total of $45 million in a new platform to help scale up transactions of voluntary carbon credits and make it easier for their customers to participate in the market. Demand for carbon offsets, generated through projects such as tree planting or using cleaner cooking fuel, is expected to soar […]
Banking dates back to the Mesopotamian era (i.e., 8000–2000 B.C.) when Babylonians depositing gold had to pay as much as one-sixtieth of the total deposited. In fact, the code commissioned by Hammurabi, king of Babylon c. 1792–1750 BCE, stipulated in several laws how citizens were to conduct their banking activities (i.e., loans, repayment, deposits, etc.). Today, […]
In the last few years, digital banking has become increasingly popular due to the convenience it offers consumers. It allows you to access your financial information and perform various transactions anytime, anywhere, saving you the hassle of visiting a branch and waiting in long queues. Digital Banking’s Various Uses Digital banking refers to the use […]