In order to issue and sell digital coins in the European Union, companies dealing with cryptocurrency will now require a licence and client safeguards under pioneering new laws approved by the EU to tame a volatile “Wild West” industry. Globally, crypto assets are generally unregulated, with national operators in the EU simply obliged to demonstrate anti-money laundering safeguards.…
Goldman Sachs Group Inc announced a partnership with capital markets technology firm Derivative Path that will allow thousands of US regional banks and credit unions to use its foreign exchange services. The collaboration is Goldman’s latest attempt toward increasing market share in the congested and competitive transaction banking area, which it entered in 2019. Derivative…
A company owned by Asia’s richest person has agreed to open Pret A Manger coffee and sandwich shops across India. Under a franchise deal, the chain will be administered by a unit of Mukesh Ambani’s Reliance Industries. It is Reliance Brands’ first foray into the country’s expanding food and beverage business. The company also owns…
Bitcoin temporarily dipped below $19,000 on Thursday, as the world’s largest digital currency remains under pressure from macroeconomic concerns and a liquidity crisis among high-profile cryptocurrency firms. According to CoinDesk data, Bitcoin was trading at $19,143.50 at 6:10 a.m. ET, down 4 per cent from the previous day. The digital currency is down over 58…
A consortium of ten European consumer organisations is suing Google over the company’s account sign-up process. A Google account is required to use many of Google’s goods and services. The organisation, however, claims that the sign-up process leads users toward options that capture more data. Google told the BBC that it appreciated the opportunity to…
H&M, the budget apparel retailer, said on Wednesday that it plans to raise prices further this year after announcing forecast-beating profits with margins boosted by fewer discounts. H&M boosted prices in the first half of the year in response to higher transportation and raw material costs, and Chief Executive Officer Helena Helmersson told Reuters that…
The global shortfall of semiconductor chips will endure through this year and into 2023, according to the CEO of premium German carmaker Mercedes-Benz. “The semiconductor situation is very present and will be a challenge for the industry throughout this year and into next year,”CEO Ola Kaellenius said at the Reuters Automotive Europe conference in Munich.…
In the United Kingdom, the term “electric vehicle” brings up visions of a Tesla or another similar car, but in Asia, the war for EV dominance is being fought on motorcycles. When you visit most Asian countries, you’ll notice that motorcycles swarm and buzz around everywhere. It’s not uncommon to see a two-wheeler carrying a…
Airbnb Inc announced on Tuesday that it will make its ban on parties in houses listed on its site permanent, citing a significant decrease in reports of unauthorised gatherings since the ban was implemented in August 2020. Since instituting the strategy, the corporation has reported a 44 percent year-over-year decrease in the rate of party…
CoinFlex, a cryptocurrency exchange, introduced a new token on Tuesday to gather funds in order to resume withdrawals for its users after one client failed to repay a significant debt. CoinFlex announced it would issue a $47 million digital coin with a 20% interest rate called Recovery Value USD, or rvUSD. It comes after the…
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