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Finance News

Dutch launch probe amid Paradise Papers scandal

Den Haag - Dutch officials are opening an investigation into thousands of agreements with foreign businesses after claims two US multinationals managed to save millions in taxes, the government said Wednesday.

Jersey: low-tax hub on the EU frontier

London - The Channel island of Jersey has come under the spotlight with the publication of the "Paradise Papers", highlighting its status as a tax destination for multinational companies.

Business as usual in Jersey despite leaks storm

Saint Helier - With its seaside air and small-town charm, Jersey seems unperturbed by the storm over the Paradise Papers financial leaks in which it is named as the centrepiece of Apple's tax avoidance strategy.

Rich and famous in the Paradise Papers

Paris - Apple, Bono and Queen Elizabeth II are just a few of the big names and companies revealed in the Paradise Papers leak to have shifted money across the globe to cut tax.

Employers in finance, fashion get tough post-Weinstein

New York - The repercussions of Harvey Weinstein's downfall spread further beyond Hollywood to the worlds of fashion and finance on Tuesday as employers showed the door to powerful men accused of sexual harassment.

Schaeuble successor in focus of German coalition talks

Frankfurt Am Main - This week saw German political parties open talks to form a first-ever four-way coalition, with a successor to respected and feared paymaster Wolfgang Schaeuble at the finance ministry one of the top prizes.

JPMorgan announces new payments network based on blockchain tech

JPMorgan has launched a new payment processing network that's based on blockchain technology. Financial organisations are making large investments into blockchain in the hope it can simplify some of the issues around traditional banking processes.

Ivanka Trump touts launch of World Bank businesswomen's fund

Washington - Ivanka Trump, President Donald Trump's daughter and a White House advisor, on Saturday touted the creation of a new World Bank initiative to foster entrepreneurship among women.

Financial losses from climate change for businesses

Among the myriad of factors that businesses need to consider when performing future financial modeling is the impact of changing climate, especially hurricane-related financial loss. A new method to calculate this has been put forward.

Trump administration rejects World Bank capital increase

Washington - The Trump administration on Friday rejected a capital increase by the World Bank, which the Bank says is necessary to expand its global anti-poverty mission.

Chatbots to improve customer experience at banks

Chatbots could improve customer experience and increase efficiency within finance. The relative simplicity of creating and running chatbot services is making them a popular option. They can replace regular staff and offer users support as they need it.

Qatar leading bank posts profit rise despite crisis

Doha - Qatar National Bank, the Gulf emirate's top lender, on Wednesday reported a rise in its quarterly profits despite a trade boycott against Doha by a Saudi-led bloc of countries.

New blockchain for very high transaction rates

Singapore - Following two years of development, technologists at the National University of Singapore have tested a new blockchain, based on the technology of ‘sharding.’ This is to facilitate extremely high transaction-rates.

FinancialWorks: New U.S. national financial security ecosystem

New York City - A Prudential Foundation grant has enabled The Financial Clinic and UnidosUS to expand the financial security capacity across the U.S. and to build financial security for the working poor across the country.

Banking sector pushes ahead with digital technology

According to a new survey, U.S. banking CEOs are continuing to increase investments into digital transformation projects. Leading the way are robotic process automation, cognitive technologies, and data and analytics.

US tightens financial sanctions on Russian banks, energy firms

Washington - The US Treasury Friday announced tighter financial sanctions on Russian banks and energy firms because of Moscow's continued interference in Ukraine.

Schaeuble to leave German finance ministry: party sources

Berlin - Germany's hardline finance minister Wolfgang Schaeuble is to leave his post to become speaker of the new parliament following watershed elections at the weekend, party sources said Wednesday.

Vatican says it axed chief auditor for spying

Rome - The Vatican said Sunday it had been forced to oust its former auditor general -- who resigned without explanation in June -- because he had been spying on senior officials.

Auditor claims Vatican axed him for probing illegal activity

Rome - The Vatican's former auditor general, who resigned without explanation in June, said Sunday he was forced out after his investigations into possible illegal activity hit too close to home."Let me be clear: I did not voluntarily resign.

Future of banking survey reveals growing E-trend

A Future of Banking survey conducted by digital banking app Varo Money, looking into the financial habits of U.S. consumers, reveals a growing tendency for people to adopt and to seek out more online banking and financial services.

EU plans to reform European Parliament election financing

Brussels - The EU will introduce reforms to curb abuses in party financing for European Parliament elections as it tries to bolster trust in the bloc's democracy, a senior official said Friday.

EU could relax banking software rules in response to fintech rise

The EU is considering relaxing banking software rules to help banks resist competition from fintech providers. As fintech usage surges, traditional lenders are finding they're unable to invest in their own web-based platforms due to European regulations.

Digital payments now more popular than cash

Digital payments are now popular than cash as app-based methods become more widely supported. Every major mobile operating system now comes with a built-in payment provider. Adoption amongst banks and retailers is also on the rise.

New report signals faster digital transformation of insurance

The insurance sector is increasingly turning to digital technology for automating insurance claims, analyzing big data for trends, and the way clients access services. A new report highlights how this disruption is creating opportunities for start-ups.

Blockchain a 'catalytic force' in soaring fintech market

Blockchain technology is propelling the fintech space to new highs as more investors get on board. The rising increase in fintech and the applications of the blockchain is leading to "exponential" increases in pilot projects, according to a new report.

Bank of Cyprus set to go digital

Nicosia - Banking, like other sectors, is embracing digital transformation. What does this mean from the financial perspective and how should a bank go about the process? The Bank of Cyprus provides the answers as it embarks down the digital path.

Artificial intelligence will say whether you get a bank loan

Artificial intelligence is being adopted with enthusiasm in the banking sector. As consumers flock to online banking options, AI gives banks the ability to offer customers convenience and efficiency.

Why small businesses need to consider digital transformation

Digital transformation may be more associated with major corporations, but small businesses are rapidly engaging with the process in order to remain competitive.

Blockchain community falls under U.S. regulations

Washington - In a major ruling, the U.S. Securities and Exchange Commission (SEC) issued a report that cautions market participants that offers and sales of digital assets by "virtual" organizations will be subject to federal securities laws.

Headway on AIDS threatened by funding slowdown

Paris - Progress in beating back the AIDS epidemic risks being eroded by a funding shortfall set to grow under Donald Trump's proposed cuts to global health projects, experts and campaigners warned ahead of a major HIV conference.
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Phillippine stock market board.
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The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
Standard Chartered bank
Standard Chartered bank
Canadian Pacific
Federal Reserve G20 Data Display in Ratio Line Chart
Federal Reserve G20 Data Display in Ratio Line Chart
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The Euro sign outside the European Central Bank in Frankfurt, Germany
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John Swinney MSP
Whether crowdfunding is a  new and powerful arrow  or  still in the hype phase  depends on who you a...
Whether crowdfunding is a "new and powerful arrow" or "still in the hype phase" depends on who you ask
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Toronto s finance district (taken by Tim Sandle in 2010)
Toronto's finance district (taken by Tim Sandle in 2010)
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Comparison of disposable incomes
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Retirement
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The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
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Couple on couch, working through their budget.
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A sign outside the headquarters of JP Morgan Chase & Co in New York
A sign outside the headquarters of JP Morgan Chase & Co in New York
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