Cryptocurrencies have exploded in popularity in recent years that has led to a red-hot fundraising trend where start-ups bring in millions of dollars in capital by issuing virtual tokens to investors in exchange for money. Initial coin offerings (ICOs) have become a primary means of fundraising for projects built on blockchain technology. Companies create and […]
Read moreGet ready to be taken to a galaxy far, far away. Disney announced on Thursday it is creating a “Star Wars” virtual reality (VR) experience at some of its locations. Lucasfilm, a Disney subsidiary, and VR company The Void are teaming up to create the attraction at Downtown Disney at Disneyland Resort and Disney Springs […]
Read moreThe prime minister of Cambodia, a country whose uneasy relationship with the United States has involved war, refugee emigration and years of on-off political tension, says he does not want his U.S.-born grandchild to have an American passport. Hun Sen, whose country was the site of one of the 20th century’s most terrible genocides, says […]
Read moreHe’s the leader of the largest economy in the world, but President Donald Trump‘s inability to deliver on his aims has made him lose standing among some of his biggest rivals and most crucial diplomatic allies, according to one Chinese political analyst. “The evaluation of Trump, which certainly I get from a lot of Asians […]
Read moreThe latest report cards from Singapore three home-grown lenders reinforced expectations that the banking sector in one of the world’s primary financial centers has seen its worst. Loan growth was strong, wealth management income expanded and fewer new bad loans were identified, results showed. Yet, shares of all three banks were in the red on […]
Read moreCurrency, United States Finance
Swiss Re first-half profit drops by a third, prices keep falling in July
Swiss Re, the world’s second-largest reinsurer, wrote 10 percent less business during the July property and casualty contract renewal season as rates continued to decline, albeit at a slowing pace, it said on Friday. First-half net profit fell 35 percent to $1.2 billion, after claims from natural disasters such as Australia’s Cyclone Debbie compounded the […]
Read moreAustralian banks may get raked over coals after allegations CBA turned blind eye to money-laundering
The fallout from Australia’s latest banking scandal — allegations that Commonwealth Bank may have ignored money-laundering regulations — could spur serious pain for the sector. Commonwealth Bank of Australia (CBA), the largest bank Down Under, saw its shares tumble on Friday, shedding nearly 4 percent by the close. That followed the Australian government’s financial intelligence […]
Read moreThe man who stopped the recent global cyberattack known as WannaCry has been arrested for allegedly creating a virus of his own that aimed to steal peoples’ banking details online. Marcus Hutchins, who is also known as Malwaretech, was indicted on six counts last month, and was arrested on Wednesday. In the indictment, Hutchins was […]
Read moreRBS reported a large earnings beat on Friday morning with the U.K. lender highlighting that it had swung back to a first-half profit for the first time in three years. RBS’ recovery continued in the first six months of 2017, with the bank posting a £939 million ($1.23 billion) pre-tax profit through to the end […]
Read moreHigh-profile cybercrime such as data theft, ransomware and computer hacks seem to be occurring more frequently and with higher costs, but cloud computing may provide the security that companies are searching for, experts suggest. “Cloud computing improves IT security and security professionals need as much help as possible,” said Nick McQuire, vice president of enterprise […]
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