EBA Stress Tests Reveal Weakness Of British & Italian Banks
The European Union (EU) recently carried out a stress test for as many as 48 banks in the EU and the results showed that British banks Barclays and Lloyds had to work on improving their weaknesses, especially with Brexit looming.
Read MoreAustralian Banks Make Plans To Exit London As Brexit Nears
Australian banks are continuing the trend of global banks leaving the City of London as they recently announced their plans to move out of London. The Commonwealth Bank of Australia (CBA), the country's largest bank has announced plans to move
Read MoreLondon Beats Top Financial Hubs For FDI Projects
Based on a report “Global investment: driving UK jobs and growth in financial services” compiled the City of London, the city received the most financial investment from other countries compared to its counterparts in other countries. The financial services that
Read MoreRussia & Chinese Stock Exchanges Sign Cross-Border Trading Deal
A memorandum of understanding has been exchanged between the Moscow Exchange and the Shenzhen Stock Exchange. This is the tenth time that the Russian exchange has dealt with a Chinese financial institution. The deal was signed by the two heads
Read MoreChina Forced To Pump $110bn Into Their Struggling Economy
The US-China trade war is heating up and Beijing has made a staggering move to boost their economy. China’s central bank, the People's Bank of China (PBOC) made a decision to reduce the amount of cash that commercial banks need
Read MoreDeutsche Bank To Shift Assets To Frankfurt Due To Brexit
Brexit has been a headache for the British economy as many financial institutions are moving out of the country. Deutsche Bank, one of the world's leading financial institutions has already moved its Euro clearing business from London to Frankfurt. The
Read MoreSoftBank Presents PoC For Blockchain Cross-carrier Payments
SoftBank Group, one of Japan's biggest companies recently announced that they have developed a proof-of-concept (PoC) that will allow users to send mobile payments between different carriers. This innovative platform uses blockchain technology from TBCASoft to do the job, while
Read MorePayPal Launches ‘Funds Now’ For Businesses
Businesses that use PayPal as their main payment systems are going to be pleased by their new Funds Now feature. With this feature, businesses would be able to receive the money paid to them instantly. Normally, PayPal has a delay
Read MoreAbu Dhabi Banks Looking To Merge Create $110bn In Assets
Oil prices are dropping and Middle Eastern countries are looking for ways to stay competitive. Abu Dhabi is planning to do so by looking at a second merger of the country's banks. There are two state owned banks discussing the
Read MoreSwiss Banks Doing Well Despite International Secrecy Crackdown
In the past, when the ultra-rich needed a place to store their wealth secretly, the best option was a bank in Switzerland. Their long-time reputation for secrecy has helped push Swiss banks to the top but that key credential has
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