Amazon‘s cloud computing division has been working on a translation service that developers could use to make their websites and apps available in multiple languages, CNBC has learned. Amazon already has machine-translation technology that it uses across the company to do things like provide product information in multiple languages. Now, the company is preparing to […]
Read moreAirlines may soon ditch their in-flight entertainment systems as new networks allow passengers improved access to the internet, according to the telecommunications satellite firm, Inmarsat. This week sees the launch of the company’s European Aviation Network (EAN) satellite, which the firm says will deliver 100 of megabits per second to devices such as tablet and […]
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Bitcoin rival ethereum dropped Monday despite a major exchange’s efforts to shore up confidence by announcing a credit for customers who lost money during last week’s flash crash. Ethereum, also known as ether, traded 11 percent lower Monday morning, near $268, according to CoinDesk. Last Wednesday, ethereum briefly plunged in a flash crash from above […]
Read moreAlibaba’s payment app Alipay unveiled the latest step in its global expansion strategy Monday. The platform is to launch in South Africa with the intention of servicing Chinese tourists. Rita Liu, head of Alipay EMEA, told CNBC’s Street Signs that the firm would work with tour bus operator City Sightseeing, facilitated by its partner ACI […]
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ECB should have already started raising interest rates, Rabobank chairman says
The time is right for the European Central Bank (ECB) to start scaling back its ultra-loose monetary policy program and to begin normalizing interest rates, senior executives from two of Europe’s leading regional banks told CNBC on Monday. “Right now consumers are confused, they don’t understand negative interest rates, they don’t understand a zero interest […]
Read moreCheck out which companies are making headlines before the bell: Whole Foods – Whole Foods continues to be a stock to watch, with speculation continuing about a possible competing bid to Amazon’s $13.7 billion deal. Reuters reported late Friday that Wal-Mart is not actively considering a bid, according to a source familiar with the matter. […]
Read moreA U.S. warship struck by a container vessel in Japanese waters failed to respond to warning signals or take evasive action before a collision that killed seven of its crew, according to a report of the incident by the Philippine cargo ship’s captain. Multiple U.S. and Japanese investigations are under way into how the guided […]
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Co-op bank cancels sale process, with US hedge funds potentially injecting new capital
The Co-operative Bank has cancelled plans to sell itself as talks with existing investors, which include several U.S. hedge funds, to recapitalize the troubled U.K. lender reach an advanced stage. The bank launched a formal sale process in February this year in order to raise capital and meet its requirements. The bank has struggled since […]
Read moreCrude oil may see further pain ahead after logging a five-week losing streak and tracking for its worst first-half percentage fall since the late 1990s, according to a Reuters estimate. The price of oil has fallen as concerns over a global supply glut have yet to subside, and OPEC-led production cuts have had relatively little […]
Read moreMobile payments app Yoyo raises $15 million in investment, backed by German retail giant Metro Group
Yoyo Wallet, Europe’s fastest growing mobile payments app, raised £12 million ($15.3 million) in a Series B round, it announced on Monday. The deal was led by German retail giant Metro Group, and awaits approval from the U.K.’s Financial Conduct Authority. The U.K.-based fintech app began life four years ago, servicing dozens of U.K. and […]
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