Finance News
Bank of America Commits $1 Billion Funding For Economic
Charlotte-based Bank of America Corp committed to funding the government’s initiatives against economic and social disparities heightened during coronavirus pandemic. The bank is willing to inject $1 billion to be used in job training, health, small businesses, and housing. The bank aims to assist communities directly affected by the coronavirus pandemic. Banks funds sectors to […]
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New Digital Payment Options For Small Businesses Available In SafeCharge And Visa
SafeCharge backed Visa, launched a new digital payment scheme to cater clients need during the coronavirus pandemic. The Nuvei Company introduced a new digital solution for small businesses. The company, supported by Visa, allowed clients to pay online and over the phone. Online is the new normal after the coronavirus pandemic raised everybody’s fear of […]
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China’s Central Bank Buys Bank Loans, Urges Banks To Lend 1 Trillion To Small Firms
Amidst the continuous threat of the coronavirus to people’s lives and the nation’s economy, China started an initiative to help small businesses. China’s central bank backed the small firms by purchasing loans they made from local lenders. China, trough the initiative, urges its banks to lend up to 1 trillion yuan to small firms as […]
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World Bank Predicts Shirk Of Palestinian Economy
The novel coronavirus crisis closed down activities and businesses all over the globe. It caused a significant decline in the global economy as nations struggle to survive the pandemic. Palestine is no exception. The World Bank predicted that the country’s economy would shrink because of the coronavirus crisis. The coronavirus is a global economic struggle […]
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China’s Cryptocurrency Legitimate Threat to Bitcoin and Dollar
Many market analysts believe that China’s own cryptocurrency is a legitimate threat to bitcoin, and even the United States dollar. As part of the country’s effort to streamline its financial industry, China recently rolled out its own digital currency. China is not a stranger to digital currency. In fact, the country has one of the […]
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Asia Pacific Countries Need Public-Private Partnerships To Back Infrastructure
Asian Development Bank (ADB) emphasized the importance of public-private partnerships (PPPs) in attracting private capital and technical expertise in the coronavirus-hit infrastructure sector. The damage of the deadly pathogen is measurable by the number of deaths and the economic loss that came with it. Economic activities in almost every nation on the planet went stale […]
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Bank Of America Data Breach Exposes Client Financial Data
The Bank of America, one of the biggest banks in the US, accidentally exposed the PPP loan applicants’ financial data during a test run on the US Small Business Administration’s website. The data breach scared clients since the bank holds sensitive data from the loan applications. A data breach on Paycheck Protection Program One of […]
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SoftBank: Vision Fund Records Massive Billion Losses
Companies around the world had been badly affected by the current global downturn. Every industry worldwide had faced a lot of economic challenges due to market drops. For this pandemic had not only brought health crisis but also a global economic crisis. Financial institutions including banking systems worldwide had suffered from the impacts of the […]
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Proposed $825 Billion Coronavirus Rescue Plan Gives Brussels New Tax And Spending Powers
European Union leaders’ proposed $825 billion coronavirus rescue package could help Brussels recover from the economic impact of the coronavirus pandemic. The fund might give the bloc new tax and spending powers. Europe’s ‘Hamiltonian moment” The new initiative is known to the proponents as the “Hamiltonian moment,” inspired by the 1790 agreement made by Treasury […]
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Analyst: Weaker Yuan Not A Weapon During Cold War
The conflict between China and the United States resurfaced amidst the threat of the novel coronavirus. The western economic giant blames the Asian superpower of covering-up the coronavirus outbreak during its early stage. The two nations slapped each other with drastic economic policies as they argue trade practices. Since last year, US President Donald Trump […]
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