Brazil’s fast and free homegrown digital payment system, PIX, has become wildly popular. The Trump administration says it unfairly undercuts U.S. companies.
Category: Banking and Financial Institutions
Brazil’s Homegrown Payment System Is Target of Trump Administration
Brazil’s fast and free homegrown digital payment system, PIX, has become wildly popular. The Trump administration says it unfairly undercuts U.S. companies.
Cairo Telecommunications Building Hit With 2nd Fire in a Week
A blaze on Thursday at one of Egypt’s main telecommunications hubs was extinguished, days after a larger fire there killed four people and disrupted internet, transport and banking services.
Despite Pressure From Trump, Powell Remains Patient on Rate Cuts
The Federal Reserve chair said the central bank would make decisions on interest rates based on data.
An Investor Took on Hong Kong Tycoons Faces a Tougher Foe
David Webb spent decades exposing shady financial dealings. But doctors say he has months to live, and he hasn’t found anyone willing to carry on his mission.
U.S. Accuses Three Mexican Financial Firms of Aiding Fentanyl Trade
The U.S. Treasury found ties between drug cartels and the Mexican companies, including a brokerage firm controlled by a former chief of staff of Andrés Manuel López Obrador.
Bank Transfer Signals Syria Is Making Strides in Ending Economic Isolation
The bank-to-bank transfer using the SWIFT system was symbolically important, indicating the war-torn country was reintegrating into the global financial community.
The Dark Side of China’s Gold Frenzy
Chinese investors have poured their savings into gold, attracted by promises of rising prices. One company’s sudden closure is a cautionary tale.
Gulf States Pay Off $15.5 Million Syrian Debt to World Bank
The move was the latest victory for Syria’s new government as it attempts to stabilize the nation after a long civil war and decades of dictatorship.
Toyota Says Tariffs Will Erase $1.3 Billion in Profits in Just 2 Months
The automaker’s somber forecast for the fiscal year underscored how quickly fortunes have turned for many companies reckoning with President Trump’s tariffs.
China Cuts Interest Rates to Shore Up Economy Hit by Trade War
China’s central bank acted shortly after news that officials from China and the Trump administration will hold their first formal trade talks since the punishing tariffs began.
U.S. Moves to Blacklist Huione Group Over Money Laundering Ties
The Treasury Department said Huione Group and its affiliates had laundered more than $4 billion.
Trump’s Tariffs Lead Japan to Slash Its Economic Growth Forecast
The Bank of Japan predicted growth of just 0.5 percent, cutting its previous forecast in half, and decided against another hike in interest rates.
