Financial Institutions
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Goldman Sachs One Step Closer to Buy 100% of China Securities Venture
Photo: Reuters Goldman Sachs has reportedly signed an agreement to take its holdings in Beijing-based Goldman Sachs Gao Hua Securities from 51 percent to 100 percent. If approved, the US bank would become the latest global lender to take advantage of Beijing’s commitment to ease foreign-ownership re
INSIGHTS - Get Ready for Brexit: Top 5 Tips for Financial Institutions
Photo: Finance Magnates All passporting rights will be lost when the UK leaves the European single market on 31 December 2020, This could cause issues for: UK-authorised firms that currently passport their authorisations into Europe. EEA-authorised firms that currently passport their authorisations
UPDATES - Morgan Stanley: U.S. stocks overbought and risks a correction
Comments from Morgan Stanley's chief investment officer on Bloomberg Wednesday Says the risk that a pick up in US treasury yields may spark a correction for US equities is being overlooked: "The market is overbought and the market is probably a little bit overvalued quite frankly because interest ra
InteractiveCrypto Fast Becoming Traders Favourite Crypto News Platform
The site offers the latest crypto news, educational articles and guides, in-depth studies, expert opinions, information on trading and the best brokers for cryptocurrency trading, along with digital wallets. All the cryptocurrency information and news offered on the InteractiveCrypto platform is bas
(JPMORGAN CHASE & CO.) Research: Small Business Expenses during COVID-19
November 2020 As the COVID-19 pandemic continues to affect the physical and economic health of the U.S., policymakers continue to have an incomplete view of the financial response of the small business sector. In the early months of the pandemic, the typical small business saw substantial revenue an
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BREAKING: Dollar Still in Recovery Despite Rise in Initial Jobless Claims
Dollar rises mildly today despite the first rise in initial jobless claims in five weeks. Euro and Swiss Fran are following closely. Global markets are still engaging in consolidative trading, with mild weakness in European equities and U.S. futures. Australian Dollar is leading New Zealand Dollar l
BREAKING - Ripple Exits from 33% of Its MoneyGram Investment
Photo: Reuters Blockchain payments giant Ripple is cashing out a third of its total stake in remittance provider MoneyGram for the first time after the investment last year. As revealed in a recent U.S. Securities Exchange and Commission filing, Ripple currently holds 6.22 million shares of MoneyGra
UPDATES - Libra Hires Former UBS Executive Saumya Bhavsar
Photo: Arnab Shome Facebook-led Libra Association announced on Wednesday the hiring of Saumya Bhavsar as the general counsel of Libra Networks, the payment system subsidiary of the blockchain consortium. Though the development of Facebook’s ambitious digital currency is currently ongoing behind the
UPDATES - China Construction Bank Cancels $3 Billion Digital Bond Listing
Photo: TINGSHU WANG/REUTERS Digital asset exchange, Fusang announced that China Construction Bank (CCB) has requested to cancel the $3 billion digital bond listing that was supposed to support trades in USD and Bitcoin. The exchange received a letter from CCB Labuan to cancel the issuance on 20 Nove
BREAKING - Revolut’s Singapore Compliance Head Rayson Tan Leaves
Photo: FM UK-headquartered Revolut’s chief compliance officer in Singapore, Rayson Tan, has left the challenger bank to join Geneva-based private bank Pictet as chief risk officer, Asia. Tan joined Revolut in September 2019 to head its compliance in the Asian markets and later took the additional ro
BREAKING - Dubai’s Investment Firm to Stake Nearly 22,000 Ethereum to Support ETH 2.0
Photo: Bloomberg
A Dubai-based investment firm, IBC Group announced today that the company is staking nearly $10 million worth of Ethereum in support of the upcoming Ethereum 2.0 launch. The ETH 2.0 will go live on 1 December with the launch of Beacon Chain.
Khurram Shroff, Chairman of the IBC Gro
BREAKING - Goldman Sachs Plans for Fresh ‘Modest’ Layoffs
(Photo: Bloomberg)
Wall Street investment banking giant, Goldman Sachs is preparing for further job cuts months after it decided to trim around 400 positions, Reuters reported on Wednesday.
The exact number of the upcoming job cuts at Goldman Sachs is not known yet. The bank only admitted to going
UPDATES - Bank Leumi UK Taps Finastra to Upgrade Core Banking
Photo: Bank Leumi
Bank Leumi UK, the London-based subsidiary of the Israeli banking group, announced on Tuesday that it has upgraded its core banking system by tapping the services of financial technology provider Finastra.
The press release shared with Finance Magnates detailed that the upgrade
BREAKING - Former BOJ Official Feels Digital Yen Will Take Years
Photo: (Photo: Bloomberg)
Hiromi Yamaoka, Board Director at Future Corp and the Bank of Japan’s (BOJ’s) former head of the payment and settlements system department said in an interview that the country will take many years to launch a digital yen.
Yamaoka also mentioned that there are several rea
The Reserve Bank of Australia Minutes: Ready to provide yet more policy stimulus
The Reserve Bank of Australia's Minutes has sown that the central bank is ready to provide yet more policy stimulus if needed after cutting rates to record lows, a pledge that may be tested given the latest outbreak of coronavirus in the country.
''Minutes of the Reserve Bank of Australia's (RBA) No
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