Augustus, a startup building a federally chartered clearing bank for stablecoins and programmable money, raised $180 million in a Series B round, valuing the company at $1 billion. The funding, led by Tiger Global, follows its conditional approval for a U.S. national bank charter.
JP Morgan CEO Jamie Dimon warned Andy Burnham that raising bank taxes could jeopardize the bank's £3bn London headquarters project and deter investment from Britain. Dimon, a long-standing critic of the UK's bank tax surcharge, emphasized the adverse consequences of penalizing companies.
Hong Kong's RMB Business Facility, a yuan financing tool for banks run by the HKMA, has been significantly expanded with a 150% quota increase to 500 billion yuan. Launched Friday, it aims to boost yuan usage in global business by offering cheaper financing for trade, capital expenditure, and working capital loans.
Ford fired a longtime employee, Kurt Kromm, from its Kentucky Truck Plant after a self-service kiosk allegedly failed to process a $1.95 cookie purchase. Kromm was reinstated after proving payment, but accepted another job.
Chainlink's Project Pangea is testing the use of compliant EUR and KRW stablecoins for T+0 international FX settlement, aiming to reduce settlement risk and free up capital for banks by enabling same-day trade completion and fund exchange.
CBI arrested IAS officer Pankaj Aggarwal in Haryana for alleged involvement in a Rs 60.5 crore funds swindle. He is accused of approving bank accounts and transferring money from state departments through shell entities. This follows the arrest of another IAS officer, RK Singh, in a related case.
The closure of the Bank of Scotland in Lochgilphead has caused distress among elderly residents, who fear online banking and lack of access to physical transactions. Local businesses also worry about the impact on cash handling and security.
An 84-year-old resident expressed distress over the closure of the last bank in Lochgilphead, Scotland, fearing online banking scams. The closure impacts elderly and vulnerable people, local businesses, and charities, with alternatives like the post office having limitations. A review of face-to-face banking access is underway.
Elderly residents in Lochgilphead are distressed by the closure of the last bank branch, fearing difficulties with online banking and potential scams. The closure impacts vulnerable individuals, local businesses, and charities.
Uzbekistan will create a roadmap for 120 recommendations from foreign investors, discussed at the Tashkent International Investment Forum. Proposals cover banking, energy, AI, and capital markets, aiming to align the country's investment framework with international standards.
India's Home Minister Amit Shah has ordered a technological and infrastructural upgrade of the national cyber crime helpline '1930'. The directive includes integrating AI and multilingual support to enhance reporting and redressal of cyber financial frauds, with a focus on prioritizing grievances related to frozen bank accounts.
Thousands protested the G7 summit in Geneva, with clashes erupting between demonstrators and riot police. Violence included smashed bank windows, a car fire, and stone-throwing, leading to boarded-up businesses. Organizers aimed to highlight issues like environment and human rights.
Jim Cramer recommends Intel stock, calling it his favorite in the chip sector over Nvidia, citing a Bank of America double upgrade and its crucial role in AI data center buildouts. The upgrade highlights Intel's CPU and contract manufacturing opportunities, with BofA projecting significant server CPU sales growth.
The U.S. Attorney for the District of Columbia is investigating major banks, including Bank of America and JPMorgan Chase, for potentially closing customer accounts due to political reasons. This follows a lawsuit by Donald Trump alleging similar debanking practices.
SBI Shinsei Bank to offer cryptocurrency vouchers (BTC, ETH, XRP) equivalent to 20% of interest payments to deposit customers, redeemable via SBI VC Trade, in a move to integrate crypto into mainstream banking.
Mukul Choudhary reflects on his debut IPL season with Lucknow Super Giants, highlighting his six-hitting prowess and the personal satisfaction of repaying his family's home loan with his Rs 2.60 crore earnings.
Mukul Choudhary reflects on his debut IPL season with Lucknow Super Giants, highlighting his six-hitting blitz and the personal satisfaction of repaying his family's home loan with his Rs 2.60 crore earnings.
Mukul Choudhary, who made a memorable IPL debut for Lucknow Super Giants, is set to repay his family's bank loan with his earnings. The young cricketer's journey highlights his dedication and the financial support he received.
Hong Kong's note-issuing banks are replacing fire-damaged cash for residents of Wang Fuk Court, following a devastating November fire. The initiative by the Monetary Authority and lenders aims to support those affected, with residents recovering significant amounts of burnt money.
Despite a strong Google I/O showcasing AI advancements, Alphabet's stock fell 2%. Bank of America maintains a 'buy' rating, citing leading product innovation, but acknowledges unresolved monetization questions and projected drops in free cash flow due to increased capital expenditure.
President Trump signed an executive order directing banks to scrutinize customer citizenship to curb illegal immigration. While less stringent than feared, it aims to identify undocumented individuals and mitigate potential credit risks from deported customers defaulting on loans.
US President Donald Trump signs executive order to review barriers to fintech innovation and access to banking partnerships and payment rails.
Senator Elizabeth Warren accused OCC's Jonathan Gould of violating banking laws by approving national trust charters for crypto firms, citing regulatory arbitrage and risks to the financial system. She requested applications and communications related to these approvals.
A Chinese think tank's request for access to Anthropic's powerful AI model Mythos, capable of finding software vulnerabilities, was refused. The US National Security Council reacted with alarm, highlighting concerns ahead of the Trump-Xi meeting in Beijing, where AI safety is now on the agenda.
