Author: Press Room

Recent banking turmoil in the U.S. and Europe has been a source of panic, but analysts are pointing to a pocket of opportunity: the preferred shares of the big banks. “Of all the asset price movements driven by the banking panic in the past few weeks, one of the few notable pockets of value created in markets appears to be subordinated financial debt,” Citi said in a April 2 note, referring to preferred shares of banks. The large banks are “doing just fine,” Loreen Gilbert, CEO of WealthWise Financial, told CNBC’s ” Street Signs Asia ” on Monday. She said…

China began a second day of drills around Taiwan on Sunday as the island’s defence ministry reported multiple air force sorties and said it was monitoring the movement of China’s missile forces, as the United States said it was watching too.China, which claims democratically governed Taiwan as its own territory, began three days of military exercises around the island on Saturday, the day after Taiwan President Tsai Ing-wen returned from a brief visit to the United States.While a security source told Reuters most of Saturday’s activities ended by sundown, Taiwan’s defense ministry said they had resumed on Sunday and the…

The International Monetary Fund warned this week of “vulnerabilities” among so-called non-bank financial institutions, saying global financial stability could hinge on their resilience. The Bank of England called attention to the same issue last month. And global investors surveyed by Bank of America in the middle of the recent banking crisis pointed to a group of US non-banks — rather than traditional lenders such as the newly defunct Silicon Valley Bank — as the most likely source of a credit crisis. But what exactly are non-banks and how risky are they? The term encompasses financial firms, other than banks, that…

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Bitcoin (BTC), the leading cryptocurrency in the world, dropped to the $28,000 level from the $28,300 level on Thursday. Bitcoin’s previous upward rally slowed after gaining 20% in March, its biggest month since January. Bitcoin reached a high of $29,173 in March, but it was a short-lived spike. In the meantime, the Ethereum price dropped from $1,941 to $1,870 on Thursday. However, it increased by 10.6% in March and by 56% this year. Although, traders seem to be hesitant to place any strong bids in BTC as investors awaited the release of the US non-farm payroll data, which is set to be…

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While most retail sales still occur in-store, digital is driving innovation as ecommerce grows. Domestic P2P and digital remittance providers will diversify to lure users and monetize solutions. Digitization is dominating B2B and disbursement innovation. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Ongoing ecommerce growth is pushing payment providers to make efficient and inexpensive digital payment solutions their top priority despite the ever-changing post-pandemic landscape. In-store shopping remains the largest US retail channel by both share and dollars. By the end of 2026, brick-and-mortar…

Walmart announced this week that 65% of its stores will be “serviced by automation” by 2026. The company’s US CEO said that “over time, we believe we’ll have the same or more associates.” Walmart is the country’s largest private employer, with roughly 1.6 million workers in the US. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Walmart will be increasingly relying on automation at its stores in the coming years — but that won’t diminish the country’s largest private employer’s workforce, company leaders said…

Thesis Business has been good for Pure Storage (NYSE:PSTG). From its humble beginnings in 2009, the company has become an industry leader in the digital storage business. The company pioneered storage as a service model and its technology was cutting-edge when it was developed. They continue to develop and differentiate themselves and the results so far have validated their approach to the storage business. Their strong top line and focus on profitability have made them more attractive over the last year but the stock has not seen much action since its IPO. My guess is that the business it operates…

EY has been given more time to resolve issues exposed by an exam cheating scandal that landed it a $100mn fine last year, as it wrestles with the fallout from findings that it misled US regulators.The settlement with the Securities and Exchange Commission ordered an independent investigation into why the Big Four firm’s US leaders failed to disclose evidence from a whistleblower that employees were sharing answers on professional tests, including ethics exams.It originally set a January deadline for the completion of the investigation and for EY to begin implementing any recommendations, such as disciplinary action against those involved.The SEC…