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Finance News

How the COVID-19 pandemic is eroding household finances

The coronavirus pandemic has slowed the economy down considerably and it has caused widespread financial problems, for both companies, employees and the typical household. A new survey looks into the situation in the U.S.

Trudeau names Canada's first female finance minister

Ottawa - Prime Minister Justin Trudeau tapped Chrystia Freeland to be Canada's first female finance minister on Tuesday as an ethics scandal that clipped her predecessor's wings reverberates through the government.

Singapore company director charged over Wirecard scandal

Fpo - A company director has been charged in Singapore with falsifying letters linked to scandal-hit German payments giant Wirecard, according to court documents, as the fallout from the firm's collapse spreads further around the world.

Different generations financial priorities revealed

A new survey by The Ascent has looked at shifting financial priorities across different generations across family units during the coronavirus era.

German ministers in hot seat over Wirecard collapse

Frankfurt Am Main - GermanFinance Minister Olaf Scholz on Wednesday said he gave lawmakers a "detailed" explanation of everything he knew about the fraud scandal that brought down payments firm Wirecard, amid criticism that authorities missed early warning signs of troubl...

German ministers face grilling over Wirecard collapse

Frankfurt Am Main - Germany's finance and economy ministers will be grilled by lawmakers on Wednesday about the massive fraud scandal that brought down payments provider Wirecard, amid criticism that authorities failed to act on early warning signs.

Student loans & COVID: Most borrowers unsure about payments

A survey from LendEDU of 1,000 adult Americans who are currently repaying federal student loan debt so that we could better understand how this group has been impacted by the pandemic.

Austrian politicians trade accusations over Wirecard

Vienna - The dramatic collapse of German payment provider Wirecard fuelled a political row in Austria Monday, with former right-wing coalition partners trading accusations of links to key players in the scandal.

Spying claims are latest twist in Germany's Wirecard thriller

Berlin - The plot thickens in the spectacular collapse of payment provider Wirecard: the Austrian man at large over Germany's worst financial fraud scandal may also have had links to secret services.

France's interior boss: rising star of right shadowed by rape claim

Paris - France's new Interior Minister Gerald Darmanin, aged just 37, is a rising star of the right-wing of French politics whose ascension has not been slowed by a claim he raped a woman over a decade ago.

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.
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Interior of NatWest Castle Street, Liverpool
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John Swinney MSP
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Standard Chartered bank
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The Euro sign outside the European Central Bank in Frankfurt, Germany
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PayU Chief Commercial Officer Matthias Setzer
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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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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.
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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 by Tim Sandle.
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A sign outside the headquarters of JP Morgan Chase & Co in New York
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Federal Reserve G20 Data Display in Ratio Line Chart
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Couple on couch, working through their budget.
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London's Canary Wharf finance district, as viewed from Greenwich Park.
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Comparison of disposable incomes
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Photograph of Toronto at night.

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