Month: July 2024
Revolut clinches UK banking license, ending three-year wait
Revolut cards is seen in this illustration photo taken in Krakow, Poland on March 29, 2024. Jakub Porzycki | Nurphoto | Getty Images British fintech startup Revolut on Thursday that it had received a preliminary banking license with restrictions from the U.K.’s Prudential Regulation Authority, bringing to an end a three-year wait. The London-headquartered firm […]
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This JPMorgan ETF has beaten the S&P 500 five years in a row. Here’s how
Consistently outperforming the market is a feat many strive for but only a few achieve. However, one exchange-traded fund (ETF) has done just that, beating the S & P 500 index for five consecutive years. The JPMorgan US Research Enhanced Index Equity ETF has beaten the benchmark every year since 2019 and is also outperforming […]
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Britain will soon lay out new plans to regulate ‘buy now, pay later’ firms like Klarna after delays
Buy now, pay later firms like Klarna and Block’s Afterpay could be about to face tougher rules in the U.K. Nikolas Kokovlis | Nurphoto | Getty Images Britain’s new Labour government will soon set out updated plans to regulate the “buy now, pay later” industry, a government spokesperson told CNBC. A Treasury department spokesperson said […]
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Chinese banks cut deposit rates to relieve squeezed margins
The Agricultural Bank of China Ltd. Guangdong branch, left, stands near high-rise construction projects in the Zhujiang New Town district of Guangzhou, Guangdong Province, China. Brent Lewin | Bloomberg | Getty Images Five of China’s major state-owned banks on Thursday cut deposit rates to cushion a hit to their already record low margins after this week’s surprise lowering of lending […]
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Chinese banks cut deposit rates to relieve squeezed margins
The Agricultural Bank of China Ltd. Guangdong branch, left, stands near high-rise construction projects in the Zhujiang New Town district of Guangzhou, Guangdong Province, China. Brent Lewin | Bloomberg | Getty Images Five of China’s major state-owned banks on Thursday cut deposit rates to cushion a hit to their already record low margins after this week’s surprise lowering of lending […]
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Jeep, Dodge-maker Stellantis reports 48% drop in first-half net profit on weak U.S. sales
New Jeep vehicles sit on a Dodge Chrysler-Jeep Ram dealership’s lot on October 03, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images Auto giant Stellantis on Thursday reported a steep drop in first-half net profit, citing reduced volumes, temporary production gaps and lower market share in North America. The company, […]
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India is on alert after a fresh outbreak of the deadly Nipah virus. Here’s what you need to know
Fruit bats seen hanging on tree branches in daylight. Bats are believed to be one of the carriers of Nipah virus, a zoonotic disease that spreads from animals to humans. Eyepix Group | Future Publishing | Getty Images Health authorities in the southern Indian state of Kerala are on high alert following the latest flare-up of the […]
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Obama plans to endorse Harris for president soon
Vice President Kamala Harris and former President Barack Obama attend an event to mark the 2010 passage of the Affordable Care Act in the East Room of the White House on April 5, 2022 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images Former President Barack Obama and Vice President Kamala Harris […]
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Chinese EV startups are spending more on research than Tesla is
Nio’s second factory in the city of Hefei has around 2,000 human workers and 756 robots. CNBC | Evelyn Cheng BEIJING – U.S.-listed Chinese electric car companies are spending more on research as a ratio to sales than Tesla, according to CNBC analysis of the four automakers’ first-quarter earnings. It’s a strategy for survival in […]
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Salary transparency gains steam in Asia as young people share their salaries online
The top driver for pay transparency practices in Asia is “regulation and compliance” (72%) according to a 2024 report by Aon. Hxyume | E+ | Getty Images Pay transparency is gaining traction as organizations adapt to new regulations, but one part of the world is still playing catch-up as discussing compensation openly remains taboo. “In […]
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