On Tuesday, EU lawmakers approved unprecedented regulations to curb the dominance of digital titans such as Alphabet unit Google, Amazon, Apple, Facebook, and Microsoft, but enforcing them may be difficult due to regulators’ limited resources. Along with the Digital Markets Act (DMA) provisions, lawmakers also approved the Digital Services Act (DSA), which requires Internet companies…
Vauld, a cryptocurrency lender, halted all withdrawals, trading, and deposits on its platform on Monday and stated it is looking into potential restructuring options. In a blog post published on Monday, Vauld CEO Darshan Bathija stated that the company is facing “financial challenges” due to “volatile market conditions, the financial difficulties of our key business…
Digital asset brokerage firm Voyager Digital has halted all customer trading, deposits, withdrawals, and loyalty awards, according to a statement issued by the company. “This was a tremendously difficult decision, but we believe it is the right one given current market conditions,” said Stephen Ehrlich, CEO of lending company Voyager. Erlich went on to explain…
Meta Platforms Inc, which owns Facebook, has trimmed plans to hire engineers by at least 30% this year, CEO Mark Zuckerberg told employees, as he cautioned them to brace for a severe economic slump. “If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent…
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…
Toyota Motor Corp revealed its first mass-market hybrid automobile for India, a sport utility vehicle (SUV), on Friday, establishing a new path for the Japanese automaker in one of the world’s fastest-growing car markets. The Toyota Urban Cruiser Hyryder SUV, the first vehicle produced as part of a global alliance with Suzuki Motor Corp, will…
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…
Unilever announced the sale of Ben & Jerry’s ice cream operations in Israel. Avi Zinger’s American Quality Products already sells Ben & Jerry’s ice cream in the United States. The move will save the company from having to discontinue ice cream sales in Israel. Unilever announced a deal that will allow its Ben & Jerry’s…
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