In a bold move, Visa has announced plans to revolutionize the way we make payments by introducing a dedicated service for bank transfers. This innovative approach will bypass traditional credit cards and direct debit processes, providing users with more control and ease in managing their finances. Let’s delve into the details of this groundbreaking development
Global Finance
The semiconductor stocks in Asia experienced a decline on Wednesday morning due to the substantial drop in Nvidia’s share price in the U.S. This reaction was triggered by Nvidia’s over 9% decline in regular trading, which reverberated through the semiconductor sector as a whole. The sell-off on Wall Street was intensified by economic data released
China’s property sector struggles and U.S. sanctions have had significant impacts on various cities across the country. The Milken Institute’s best performing cities China index has been studying China’s large- and mid-sized cities since 2015, analyzing their economic vibrancy and growth prospects. Hangzhou, the capital of the eastern Zhejiang province and home to tech giants
China’s foray into the world of top-tier video games has made a significant splash with the release of Black Myth: Wukong. This action game, set in mythological China, achieved unprecedented success by selling over 10 million units within the first three days of its launch on Aug. 20. The game continued to dominate the charts,
Chinese President Xi Jinping expressed his hopes for a better relationship between China and the United States during a meeting with U.S. national security advisor Jake Sullivan. Xi emphasized the importance of finding the right way for the two countries to get along, despite the recent tensions that have arisen in various sectors such as
Warren Buffett turned 94 on Friday and his sprawling, one-of-a-kind conglomerate has never been worth more than it is today. Berkshire Hathaway became the first nontechnology company to top a $1 trillion market capitalization this week. Moreover, Berkshire Class A shares also topped $700,000 apiece for the first time ever. Howard Marks, a great investor
The White House has announced that President Joe Biden and Chinese President Xi Jinping are scheduled to have a phone conversation in the “coming weeks.” This comes as U.S. national security adviser Jake Sullivan travels to Beijing for discussions with Wang Yi, China’s top diplomat. The two leaders are expected to address a range of
Xpeng, the Chinese electric car company, made waves in the automotive industry on Tuesday with the launch of its new mass-market Mona brand. The Mona M03 electric coupe, priced as low as $16,812, quickly garnered attention with over 10,000 orders in just 52 minutes after its formal introduction in Beijing. This launch solidifies China’s position
The partnership between Volkswagen and Chinese startup Xpeng involves hundreds of Volkswagen staff spending time at Xpeng to develop electric cars for the Chinese market. This collaboration is significant as it aims to create two electric cars by 2026 based on Xpeng’s G9 platform. The fact that Volkswagen workers are spending more time at Xpeng’s
In recent years, efforts to enforce tax payments through passport revocation have been on the rise. The federal government now has the authority to revoke or limit a traveler’s passport if they have a seriously delinquent tax debt. This measure is considered a last resort to collect unpaid tax levies, according to experts in the
With the upcoming Federal Reserve interest rate decision in September, investors are turning their attention to dividend stocks. According to Paul Baiocchi of SS&C ALPS Advisors, this shift is a wise move as he anticipates the Fed to ease rates. Baiocchi mentioned in an interview on CNBC’s “ETF Edge” that investors are moving away from
The Covid-19 pandemic brought remote work to the forefront of the U.S. labor market, but economists now see it as a permanent fixture. Nick Bunker, economic research director for North America at Indeed, describes the work-from-home revolution as a significant shift that is here to stay. The concept of remote work includes both full-time home-based