Visa recently announced plans to launch a dedicated service for bank transfers, bypassing the use of credit cards and traditional direct debit processes. This new service, known as account-to-account (A2A) payments, is set to revolutionize the way consumers make transactions in Europe. By allowing users to set up direct debits directly from their bank accounts
Finance
Zilch, a British financial technology firm, achieved a major milestone by reporting its first-ever month of profit. The company, which operates in the buy now, pay later space alongside competitors like Klarna and Block, managed to reach profitability within four years of its founding. This accomplishment is particularly noteworthy considering that other major consumer fintechs
Hangzhou, the capital of the eastern Zhejiang province, has emerged as a frontrunner in China’s tech industry, being home to tech giants like Alibaba. This year, Hangzhou secured the top spot in the Milken Institute’s best performing cities China index. The city’s success can be attributed to its growth as a hub for e-commerce, manufacturing,
In a historic milestone, Warren Buffett’s Berkshire Hathaway has become the first non-technology company in the U.S. to reach a market capitalization of $1 trillion. This achievement comes amidst a year of impressive performance, with the conglomerate’s shares soaring over 28% in 2024, outperforming the S&P 500’s gain of 18%. The $1 trillion mark was
The British fund manager abdrn has predicted that the U.S. economy may experience a soft landing in the near future. However, there is still a looming risk of a prolonged slowdown in 2025, as highlighted by Kenneth Akintewe, the company’s head of Asian sovereign debt. During an interview on CNBC’s “Squawk Box Asia,” Akintewe raised
China’s foray into the top-tier video game market with Black Myth: Wukong has proven to be a huge success, shattering world records and showcasing the country’s potential in the global gaming industry. With over 10 million units sold in just three days after its launch on August 20, the action-packed game set in mythological China
Chinese President Xi Jinping emphasized during a meeting with U.S. national security advisor Jake Sullivan the importance of maintaining a stable and healthy relationship between China and the United States. Despite the escalating tensions in recent years, Xi reiterated China’s commitment to the goal of a sustainable China-U.S. relationship. Xi expressed his hope that the
Dollar General, a popular discount retailer catering to lower-income customers primarily in rural areas, faced a significant setback recently. The company slashed its sales and profit guidance for the full year, leading to a sharp decline in its stock value. This downward adjustment in their outlook suggests that their core customer base is facing financial
Chinese electric car companies are stepping up their game by entering into a new battleground: chip-powered tech features. The likes of Nio and Xpeng have recently announced that their in-house designed auto chips are ready for production, marking a significant shift in the industry. While many major Chinese electric car manufacturers have previously relied on
In the midst of escalating tensions between the United States and China, President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone call in the upcoming weeks. This announcement was made by the White House, coinciding with U.S. national security adviser Jake Sullivan’s visit to Beijing to meet with China’s top