EU Commission Gives UK Clearing Houses 12 Month Extension

London has long been a major financial center. For years, this was to the advantage of various clearinghouses that participated in the trading industry since it was the prime spot for trading between the US, the EU, and the rest

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Facebook Shifts Focus From Libra To New Payment Service

Facebook has been making news in the financial world for its controversial Libra Project. Central banks around the world are up in arms over the possibility that Facebook could launch its own digital currency and change the global financial landscape.

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BIS Will Focus On Developing Digital Currencies

The Bank of International Settlements (BIS) has decided to focus on developing new digital currencies and will have a separate department led by former ECB executive board member Benoit Coeure to lead this project.  Facebook’s Libra project and Apple’s recent

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Apple Card Gets In Trouble Over “Sexist Credit Limits”

Earlier this year, Apple Inc. decided to branch out into finance and launch its Apple Card. Apple has a very committed set of customers throughout the world who are ever ready to try out anything new that Apple releases. The new

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Alipay Launches International E-Wallet For Foreigners In China

Foreigners who have visited China in the past have found it difficult to carry out online purchases because they did not have a Chinese bank account or a local mobile number. That is about to change because Alipay is now

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UK Tax Office Clarifies Crypto Position And New Tax Laws

Her Majesty’s Revenue and Customs (HMRC) office, the top office for taxes in the UK, recently released its new guidelines for cryptocurrency taxation. They will apply to both individuals and businesses. This is a major move by the office since

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Saudi Aramco Confirms Billion Dollar IPO Will Start On November 3

Saudi Aramco which is responsible for ten percent of the world’s oil supply, has long been planning an initial public offering (IPO) for a number of years. Experts say that this IPO will be the largest in history. Saudi Aramco

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QuickQuid Collapses In The UK After Mass Of Complaints

The payday lending market in the United Kingdom has seen its fair share of controversies in recent times. The latest to rock the market comes from QuickQuid who is set to close operations after many of its customers claimed that

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Woodford Investment Trust Taken Over By Schroders

There is finally some good news for the investors that put money into the Woodford Patient Capital Trust (WPCT). The fund which has been in the news the past few months for all the wrong reasons has now been taken

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Aussie Net Worth Falls In Global Wealth Report 2019

Australia is a bit poorer now as the net worth of the Australians has fallen significantly. This is mostly because of the decline in the Australian dollar and the weak Australian market. The average wealth of Australian adults is now

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