Visa recently announced its plans to revolutionize the way consumers make payments by introducing a dedicated service for bank transfers in Europe. This innovative approach aims to streamline the payment process, offering users greater control and security when making transactions. With the new account-to-account (A2A) payments service, consumers will have the ability to set up
Finance
British financial technology firm Zilch recently achieved a significant milestone by reporting its first-ever month of profit. This accomplishment comes just four years after the company was founded, making it faster than other major consumer fintech companies in the market. Zilch, which competes with industry giants like Klarna and Block in the buy now, pay
China’s property market fluctuations and U.S. sanctions have had a significant impact on some of its cities, as revealed by the Milken Institute’s best performing cities China index. The index, which has been studying China’s large and mid-sized cities since 2015, assesses their economic vibrancy and growth prospects. The most recent version compares data from
In a historic achievement, Warren Buffett’s Berkshire Hathaway has reached a market capitalization of $1 trillion. This milestone marks the first time a non-technology company in the United States has surpassed this coveted threshold. Despite its “old-economy” focus, Berkshire Hathaway has seen an impressive rally in its share price, climbing more than 28% in 2024,
British fund manager abdrn’s head of Asian sovereign debt, Kenneth Akintewe, has expressed concerns about a possible prolonged slowdown in the U.S. economy in 2025. He points to economic data, such as the non-farm payrolls, which have been later revised to show a weaker economic outlook. According to Akintewe, there is a risk that the
China’s entry into the top-tier video game market has made a significant impact with the release of Black Myth: Wukong. This action-packed game, set in mythological China, achieved unprecedented success by selling over 10 million units within just three days after its launch on Aug. 20. This feat catapulted the game to the second-highest revenue
Dollar General, a discount retailer targeting lower-income customers mainly in rural areas, experienced a sharp decline in its shares after announcing the reduction in its sales and profit forecasts for the full year. These adjustments, which included a cut in same-store sales and earnings per share expectations, were attributed to the challenging economic conditions faced
Chinese President Xi Jinping expressed his hopes for a positive and constructive relationship with the United States during a meeting with U.S. national security advisor Jake Sullivan. Despite escalating tensions between the two countries in recent years, Xi emphasized China’s commitment to a stable, healthy, and sustainable relationship with the U.S. He called for finding
Chinese electric car companies are stepping up their game by developing their own in-house auto chips, signaling a shift towards greater technological independence. Companies like Nio and Xpeng have announced the readiness of their custom-designed chips for production, moving away from the reliance on Nvidia chips that has been prevalent in the industry. The move
The announcement of the upcoming phone call between U.S. President Joe Biden and Chinese President Xi Jinping comes as a significant development in the diplomatic relations between the two superpowers. This communication will play a crucial role in addressing various pressing issues that have been looming over their relationship. Previous Interactions It is important to