Fintech news & updates
Obtain the latest fintech news and updates from multiple well-known news outlets to stay informed about Fintech developments.
News of financial technology
The Fed Decides, Microsoft and BlackRock Team Up | Bloomberg Technology
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Bloomberg's Caroline Hyde and Ed Ludlow break down what to expect from the upcoming Federal Reserve decision. Plus, Microsoft and BlackRock plan to launch a $30 billion AI investment fund and European Union judges overturn Google's $1.7 billion antitrust fine. (Source: Bloomberg)
linkCopy linkshare_windowsShareGensler Says AI Risks Heartbreak Like Scarlett Johansson’s ‘Her’
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Overuse of the same kinds of artificial intelligence systems by too many brokers and money managers could set the stage for future turmoil, according to Gary Gensler, chair of the US Securities and Exchange Commission.
linkCopy linkshare_windowsShareVista Picks Evercore to Help Sell Finastra’s Capital Markets Arm
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Vista Equity Partners is working with Evercore Inc. to help sell the fintech Finastra’s Treasury and Capital Markets business, people familiar with the matter said.
linkCopy linkshare_windowsShareUS SEC settles charges against Rari Capital over misleading investors
The U.S. Securities and Exchange Commission said on Wednesday it settled charges against decentralized finance platform Rari Capital and its founders over misleading investors and acting as unregistered brokers.
linkCopy linkshare_windowsShareIndia weighs easing market share limits for UPI payment operators
The governing body overseeing India's popular UPI payments rail is considering increasing its proposed market share cap for operators like Google Pay, PhonePe and Paytm.
linkCopy linkshare_windowsShareAmazon adds PayPal as a payment option to Buy with Prime
Amazon’s Buy with Prime program, which lets shoppers with a Prime membership purchase items from third-party stores and check out using their Amazon account, is getting a new payment option: PayPal. Amazon announced Wednesday that Prime customers can use PayPal to check out on websites that’ve integrated the Buy with Prime API. The company also […]
linkCopy linkshare_windowsShareDrip Capital Achieves 70% Productivity Boost by Overcoming AI Challenges
Drip Capital has successfully tackled AI challenges, such as hallucinations, and enhanced its document processing efficiency, leading to a remarkable 70% boost in productivity through the application of generative AI in risk assessment.
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Caroline Ellison, Star Witness in FTX Case, Should Receive Lenient Sentence, Prosecutors Signal
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Ms. Ellison, Sam Bankman-Fried’s former girlfriend and a top executive in his empire, is set to be sentenced on Sept. 24 for her role in the collapse of the crypto exchange.
linkCopy linkshare_windowsShareMicrosoft, BlackRock Aim to Raise $30 Billion for AI Investments
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Microsoft and BlackRock are teaming up to invest in data centers and other infrastructure supporting AI. The strategy aims to attract $30 billion of private equity capital. Bloomberg Intelligence senior analyst Mandeep Singh shares his views on "Bloomberg: The Asia Trade." (Source: Bloomberg)
linkCopy linkshare_windowsShareAnimoca’s Siu Says Hong Kong a Strong Contender for Possible IPO
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Hong Kong is a “strong contender” for a potential listing of crypto venture investor and blockchain game developer Animoca Brands Corp., its Chairman Yat Siu said.
linkCopy linkshare_windowsShareAbu Dhabi Firm Joins BlackRock, Microsoft in $30 Billion AI Push
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BlackRock Inc. and Microsoft Corp. are teaming up on one of the largest efforts to date to bankroll the build-out of data warehouses and energy infrastructure behind the boom in artificial intelligence.
linkCopy linkshare_windowsShareAll About Nvidia Chips, AI Hype and What Lies Ahead
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The blistering stock rally that’s made Nvidia Corp. one of the world’s three most valuable companies is based on a number of assumptions. One is that artificial intelligence applications made possible by its semiconductors will become features of the modern economy. Another is that Nvidia, and the patchwork of subcontractors upon which it relies, can meet the exploding demand for its equipment without a hitch.
linkCopy linkshare_windowsShareSony Joins a Crypto Push in Japan as Calls Grow for Looser Rules
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Entertainment giant Sony Group Corp. is the latest company to jump onto a bandwagon of Japanese businesses seeking to tap blockchain technology, a trend that poses challenges for the nation’s government.
linkCopy linkshare_windowsShareJPMorgan Explores Taking Over Apple Card That Goldman Wants to Ditch
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JPMorgan Chase & Co. is in discussions with Apple Inc. about taking over a credit card portfolio that rival Goldman Sachs Group Inc. has been trying to ditch.
linkCopy linkshare_windowsShareEx-Mastercard Executive Invests in Startup Pomelo, Joins Board
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Carlo Enrico, the former Latin America and Caribbean regional head at Mastercard Inc., has invested in payment card startup Pomelo and will join the board.
linkCopy linkshare_windowsShareAustralia's RBA to prioritise wholesale CBDC work over retail
Australia's central bank has decided to prioritise work on a wholesale central bank digital currency (CBDC) as its economic benefits are judged to outweigh those of a retail version, a top policymaker said on Wednesday.
linkCopy linkshare_windowsShareMicrosoft, BlackRock to launch $30 billion fund for AI infrastructure
BlackRock and Microsoft plan to launch a more than $30 billion fund to invest in artificial intelligence infrastructure to build data centers and energy projects, the companies said on Tuesday.
linkCopy linkshare_windowsShareJPMorgan in talks with Apple over Goldman credit card partnership, source says
JPMorgan Chase is in talks with Apple about replacing Goldman Sachs as the tech giant's credit-card partner, a source familiar with the matter said on Tuesday.
linkCopy linkshare_windowsShareJPMorgan could take over Goldman’s Apple Card business
JPMorgan Chase is in talks to take over the Apple Card business from Goldman Sachs, The Wall Street Journal reports. Goldman has issued credit for the Apple Card since its launch in 2019, but the Wall Street and Silicon Valley giants have been trying to untie their partnership since last year. In 2023, Goldman decided […]
linkCopy linkshare_windowsSharePatreon launches features to automate away creators’ administrative workload and help them make more money
Every month, 400,000 free members upgrade to paid memberships, the company says. According to Patreon, Autopilot improved the rate of free-to-paid membership upgrades by an average of 19% in testing.
linkCopy linkshare_windowsShareElixir Games Launches Token Staking Feature with Limited-Time APY
Elixir Games has introduced a feature enabling users to stake their $ELIX tokens directly from its launcher, offering a limited-time annual percentage yield (APY) until the end of the year.
linkCopy linkshare_windowsShareAmazon Sued for Alleged Deceptive Pricing Practices on Fire TVs
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Amazon faces a class-action lawsuit for allegedly inflating list prices on Fire TVs to make discounts appear more significant, violating Washington’s Consumer Protection Act.
linkCopy linkshare_windowsShareTrump Ventures into Cryptocurrency with World Liberty Financial Despite Limited Knowledge
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Donald Trump, who once called Bitcoin a scam, has launched a new cryptocurrency venture called World Liberty Financial, despite appearing to know little about the technology.
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Donald Trump Rolls Out World Liberty Financial, a New Crypto Venture
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In a livestream, Donald Trump formally introduced World Liberty Financial, a crypto venture led by two digital currency entrepreneurs with little experience running high-profile businesses.
linkCopy linkshare_windowsShareAI Startup Sakana Hits $1.5 Billion Value as Japan Inc. Piles In
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Nvidia Corp.-backed Sakana AI was valued at $1.5 billion a little over a year after its launch, boosted by investments from some of Japan’s biggest banks and companies, a person familiar with the matter said.
linkCopy linkshare_windowsShareHong Kong Considers Rules for AI Use in Finance
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The Hong Kong government is preparing to issue its maiden policy statement on the use of artificial intelligence in finance, according to people familiar with the matter, a move that could catalyze the use of the technology in areas from trading to investment banking and cryptocurrencies.
linkCopy linkshare_windowsShareIntel to Make Custom AI Chip for Amazon, Delay German Plant
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Intel Corp. Chief Executive Officer Pat Gelsinger has landed Amazon.com Inc.’s AWS as a customer for the company’s manufacturing business, potentially bringing work to new plants under construction in the US and boosting his efforts to turn around the embattled chipmaker.
linkCopy linkshare_windowsShareGoldman Trading Desk Says It’s Time to Buy the Dip in AI Stocks
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Artificial intelligence-related stocks have taken a beating recently, but with lower interest rates on the way and fundamentals remaining strong, Goldman Sachs Group Inc.’s trading desk thinks it’s time to buy the dip.
linkCopy linkshare_windowsShareFintech Cherry Pitches Bond Tied to Buy-Now, Pay-Later Cosmetic Surgery Loans
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Payment company Cherry Technologies is sounding out investors for a bond that would be tied to “buy-now, pay-later” loans for cosmetic surgery and other aesthetic treatments, as demand for medical debt surges, according to people with knowledge of the matter.
linkCopy linkshare_windowsShareMicrosoft and Vodafone Collaborate to Infuse AI into Office Suite
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Microsoft partners with Vodafone to integrate AI into Office, enhancing Excel with Python tools and Outlook with email prioritization.
linkCopy linkshare_windowsShareCentral bank digital currency momentum growing, study shows
A total of 134 countries representing 98% of the global economy are now exploring digital versions of their currencies, with almost half at an advanced stage and pioneers like China, the Bahamas and Nigeria starting to see a pick up in usage.
linkCopy linkshare_windowsShareTrump offers little detail at crypto business unveiling
Donald Trump on Monday offered few details about a new cryptocurrency business that the Republican former president, his family and associates unveiled in a live event on X Spaces.
linkCopy linkshare_windowsShareMicrosoft approves new $60 billion share buyback program
Microsoft said on Monday its board has approved a new share buy back program of up to $60 billion.
linkCopy linkshare_windowsShareTrump Launches World Liberty Financial: A New Venture in Decentralized Finance
Former President Donald Trump has launched World Liberty Financial, a decentralized finance project aimed at promoting stablecoins and financial inclusion. However, details on its operation remain vague, with governance tokens available only to accredited investors.
linkCopy linkshare_windowsShareIntel's Strategic Spin-Off: A Bold Move to Revitalize Its Chipmaking Business
Intel is spinning off its chipmaking business to address significant financial losses and improve its market position. The new Intel Foundry will operate independently, while the company also plans to cut its real estate footprint and halt factory construction in Europe for two years.
linkCopy linkshare_windowsShareEx-MoviePass CEO Admits to Securities Fraud in Deceptive Practices
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Former MoviePass CEO Mitch Lowe pleads guilty to securities fraud, admitting to deceiving the public and investors about the service’s sustainability.
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