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Finance News

Philippines probes possible ploy to 'mislead' Wirecard investigation

Manila - Philippine authorities are investigating immigration records that show the ex-chief operating officer of collapsed payments provider Wirecard entered the country this week before leaving for China, the Filipino justice secretary said Friday.

Wirecard collapse an 'unparallelled scandal'

Berlin - The dramatic collapse of payments provider Wirecard is an "unparallelled scandal", Germany's finance minister said Thursday, after the group filed for insolvency as it admitted that 1.9 billion euros missing from its accounts likely did not exist.

UN retains $6.5 bln peacekeeping budget

New York - The UN budget for peacekeeping operations will remain at $6.5 billion under an agreement reached overnight among the UN's 193 member states, diplomats said Tuesday.

Scandal-hit Wirecard admits missing 1.9 bln likely gone

Frankfurt Am Main - Shooting-star German payments provider Wirecard on Monday admitted 1.9 billion euros that auditors say are missing from its accounts likely "do not exist", fueling fraud suspicions that saw its CEO resign.

South African bank must replace 12M customer cards Special

The banking division of South Africa's Post Office called Postbank lost over $3.2 million will have to replace more than 12 million customer cards. This followed a cybersecurity incident.

Pompeo criticizes HSBC for backing Hong Kong law

Washington - US Secretary of State Mike Pompeo on Tuesday took to task HSBC for backing Beijing's controversial security law proposal in Hong Kong, warning of businesses' overreliance on China.

UK banking giants back China's Hong Kong security law

Fpo - British banking giants HSBC and Standard Chartered on Thursday backed China's contentious security law proposal for Hong Kong, which critics fear will be used to stamp out dissent in the city.

Challenger insurers are doing better than banks during COVID-19 Special

In recent weeks, the coronavirus pandemic has become a catalyst for digital solutions. One area where growth has been strongest is with challenger insurance startups, who are disrupting the traditional insurance market.

Bitcoin world faces 'halving': what's happening?

London - Bitcoin miners, whose computer processors enable the running of the world's most popular virtual currency, will soon face an event that takes place every four years and alters the profitability of the hi-tech industry.

Debt moratorium 'essential' to help Africa fight coronavirus: Macron

Paris - French President Emmanuel Macron on Wednesday called for a moratorium on the debt of African countries as "an essential step" to help the continent get through the coronavirus crisis.

Security and CX hold back digital bank account opening

A survey of businesses finds that half of all respondents rate the security of their current digital account opening application process as only somewhat or not secure. These types of findings indicate why some a reluctant to full embrace digital banking.

Open database exposes 425 GB of financial companies’ data Special

The latest data exposure issue relates to non-encrypted data being housed on AWS S3. These cloud services have become one of the most common vectors of large-scale data compromise in the past two or three years, explains

Q&A: CFO's are powering CX and digital transformation Special

When it comes to the CFO, modernizing customer experience probably isn’t the first thing that comes to mind. Yet CFO’s are crucial in driving the modernization in customer experience, which is key to many business strategies.

Unlike 2008, world's economic doctors feud over cure

London - "I think the patient is stabilised," then US president Barack Obama declared after G20 powers prescribed unprecedented remedies to steady the crisis-wracked world economy just over a decade ago.

French MPs begin debating controversial pensions bill

Paris - The battle over the French government's pension reforms moved from the street to parliament on Monday, with the opposition vowing to torpedo an overhaul that sparked weeks of strikes and protests.

Computer Facilities network addresses data vulnerability Special

One of the largest banks in South Africa, Nedbank, recently disclosed a breach that affected the personal details of 1.7 million users due to an issue with Computer Facilities network. Anurag Kahol, Bitglass looks into the vulnerability.

Alphabet earnings: A mixed bag Special

Alphabet's shares have slipped lower following Google's parent company revealing its fourth quarter earnings report. The financial figures indicate mixed results from some of its key properties. Haris Anwar looks into what's behind the figures.

UK adds entire Hezbollah movement to terror blacklist

London - Britain's finance ministry on Friday said it had added Lebanon's entire Hezbollah movement to its list of terrorist groups subject to asset freezing.

EU to lay out trillion-euro 'Green Deal'

Strasbourg - Going green can be a costly business, as the EU's executive body will make clear on Tuesday when it launches a one-trillion-euro plan to finance its goal of making the bloc carbon neutral by 2050.

France braces for holiday misery as pension strike persists

Paris - French commuters endured a ninth day of public transport strikes Friday, with little relief expected in coming days as unions vow to keep up their protest against a pension overhaul through the holidays unless the government backs down.

French govt says ready to talk as pension strike bites

Paris - French officials said Thursday that they were open to negotiating a pension overhaul that has sparked crippling transport strikes, as unions warned of walkouts through the holidays unless the government drops the plan.

How Canadian firms can unlock $22 billion in revenue by 2023

New research from Accenture finds that Canadian companies stand to miss out on an astonishing 43 per cent –$22 billion – in revenue gains by 2023 if they don’t change their enterprise technology approach.

2020 Fintech predictions from Marqeta Special

Oakland, CA-based fintech startup Marqeta, has made some fintech predictions for 2020, made available to Digital Journal readers. Fintech extends to the new applications, processes, products, or business models in the financial services industry.

Online shoppers beware: New mobile banking Trojan appears Special

A new strain of mobile banking Trojan called Ginp has been constantly refined to collect login credentials and credit card details, warns Will LaSala, Director of Security Services at OneSpan.

Vatican: top anti-money laundering official leaves post

Vatican City - The Vatican's top financial investigator charged with investigating money laundering and other such crimes has left his post after the non-renewal of his contract, the Holy See said on Monday.

Facebook's Zuckerberg open to scaling back Libra plan

Washington - Facebook chief executive Mark Zuckerberg opened the door Wednesday to scaling back plans for the company's digital coin Libra if it cannot win approval as a new currency for global exchanges.

Zuckerberg calls Libra coin a key for American leadership

Washington - Facebook's proposed digital coin Libra would "extend America's financial leadership" while helping cash-strapped people around the world, chief executive Mark Zuckerberg said in remarks prepared for delivery to lawmakers released Tuesday.

Libra coin key for 'America's financial leadership': Zuckerberg

Washington - Facebook's proposed digital coin Libra would "extend America's financial leadership" in the world, chief executive Mark Zuckerberg said in remarks for delivery to lawmakers released Tuesday.

The Vatican out of money? Heavens no, says pope ally

Vatican City - Pope Francis's economic adviser on Tuesday denied reports the Vatican was at risk of default, saying the allegations were part of a campaign to discredit the pontiff.

More companies back away from Facebook's Libra coin

San Francisco - Facebook's digital currency alliance lost more companies on Friday amid heavy criticism from regulators around the world on the planned Libra global cryptocurrency.
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Standard Chartered bank
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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.
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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The Euro sign outside the European Central Bank in Frankfurt, Germany
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London's Canary Wharf finance district, as viewed from Greenwich Park.
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Photograph of Toronto at night.
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Comparison of disposable incomes
Wyatt Emmerich, theclevelandcurrent.com
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John Swinney MSP
John Swinney MSP
Federal Reserve G20 Data Display in Ratio Line Chart
Federal Reserve G20 Data Display in Ratio Line Chart
PayU Chief Commercial Officer Matthias Setzer
PayU Chief Commercial Officer Matthias Setzer
PayU
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.
Big Stock Photo
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Phillippine stock market board.
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Toronto s finance district by Tim Sandle.
Toronto's finance district by Tim Sandle.
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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Interior of NatWest Castle Street, Liverpool
John Bradley

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