Visa recently announced its plans to launch a dedicated service for bank transfers, bypassing traditional methods such as credit cards and direct debits. This move marks a significant shift in the way payments are processed and managed, especially in the European market. The new service, known as account-to-account (A2A) payments, is set to launch in
Finance
British financial technology firm Zilch recently made headlines by reporting its first-ever month of profit, a significant milestone for the company as it sets its sights on an eventual initial public offering. In a recent trading update, Zilch revealed that it achieved operating profitability in July 2024, just four years after its founding. This achievement
One of China’s largest and most populous cities, Hangzhou, has emerged as the top-ranking city in the Milken Institute’s best performing cities China index. Known as the capital of the eastern Zhejiang province and home to tech giants like Alibaba, Hangzhou has seen significant growth in recent years. This success can be attributed to its
Berkshire Hathaway, under the leadership of Warren Buffett, recently reached a significant milestone by achieving a $1 trillion market capitalization. This achievement is notable as it marks the first time a non-technology company in the United States has reached this coveted milestone. Despite a challenging economic environment, Berkshire’s stock price has soared, with shares rallying
As British fund manager abdrn predicts a soft landing for the U.S. economy, concerns about a prolonged slowdown in 2025 linger. Kenneth Akintewe, the company’s head of Asian sovereign debt, raised doubts about the accuracy of economic indicators and the Federal Reserve’s decision-making process. He highlighted the revision of non-farm payroll numbers, revealing a weaker
China’s video game industry has taken a significant leap forward with the release of Black Myth: Wukong, a top-tier action game set in mythological China. The game shattered world records by selling over 10 million units within just three days of its launch, signaling a new era for Chinese-developed AAA games. This groundbreaking success has
Dollar General recently faced a significant setback as its shares took a steep decline following the company’s decision to revise its sales and profit forecasts for the year. The lower-income customers targeted by the discount retailer seem to be grappling with financial constraints in the current economic climate. This drop in same-store sales projections has
Chinese President Xi Jinping emphasized the importance of a stable and healthy China-U.S. relationship during a meeting with U.S. national security advisor Jake Sullivan. He expressed hope that Washington would find “a right way” to get along with Beijing. Despite escalating tensions between the two countries in recent years, Xi reiterated China’s commitment to fostering
In the competitive world of electric vehicles, Chinese companies are not just battling for market share based on pricing but are also focusing on technological advancements. One such area of intense competition is the development of in-house designed auto chips to power tech features like driver-assist functions. This shift marks a strategic move by companies
The White House recently announced that U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone call in the “coming weeks.” This development comes in the midst of U.S. National Security Adviser Jake Sullivan’s visit to Beijing to meet with China’s top diplomat, Wang Yi. Additionally, both countries have confirmed