In a bold move to revolutionize the payment industry, Visa has announced its plans to launch a dedicated service for account-to-account (A2A) payments in Europe, skipping traditional credit cards and direct debit methods. This innovative approach aims to provide users with more control and security over their transactions, ultimately redefining the way people make payments
Finance
Zilch, a British financial technology firm, recently celebrated a significant milestone in its journey towards success. The company reported its first-ever month of profit in July 2024, just four years after its founding date. This achievement is particularly noteworthy in the highly competitive buy now, pay later space, where Zilch competes with industry giants like
China’s property market struggles and U.S. sanctions have had a significant impact on various cities across the country. The Milken Institute’s best performing cities China index has been monitoring China’s large- and mid-sized cities since 2015, focusing on their economic vibrancy and growth prospects. The latest version of the index compares data for 2023 with
Warren Buffett’s Berkshire Hathaway recently achieved a significant milestone by reaching a market capitalization of $1 trillion. This makes it the first non-technology company in the U.S. to accomplish this feat. The growth in the company’s value has exceeded that of the S&P 500 and comes at a time when Buffett is about to turn
The British fund manager abdrn recently predicted that the U.S. economy is headed for a soft landing in 2025. However, Kenneth Akintewe, the company’s head of Asian sovereign debt, expressed concerns about the potential for a prolonged slowdown. In an interview with CNBC’s “Squawk Box Asia,” Akintewe raised the question of whether the Federal Reserve
China’s gaming industry recently made a significant leap onto the global stage with the release of Black Myth: Wukong. This top-tier video game, set in mythological China, shattered world records by selling over 10 million units within just three days of its launch on Aug. 20. The game continued its impressive streak by still ranking
Chinese President Xi Jinping recently met with U.S. national security advisor Jake Sullivan to discuss the importance of improving relations between China and the United States. Xi emphasized China’s commitment to a stable, healthy, and sustainable relationship with the U.S., despite the escalating tensions between the two countries in recent years. During the meeting, Xi
Dollar General, a well-known discount retailer, faced a significant setback as its shares plummeted due to a reduction in its sales and profit forecasts for the year. This unexpected turn suggests that their customer base, which mainly consists of individuals with lower incomes, is encountering financial difficulties in the current economy. Revised Guidance The company
The Chinese electric car industry is currently witnessing a shift towards in-house designed auto chips, with companies like Nio and Xpeng leading the way. This development marks a significant departure from the reliance on Nvidia chips that many electric car makers in China have had in the past. The move towards in-house chips is driven
The White House announced that U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to speak over the phone in the “coming weeks.” This comes as the U.S. national security adviser, Jake Sullivan, is currently in Beijing meeting with China’s top diplomat, Wang Yi. In addition to the leader-level call, both sides mentioned