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Capital and Risk, Macroeconomic

GDP Grew at Record 33.1% in 3rd Quarter

October 29, 2020

Via: CNSNews.com

Real gross domestic product (GDP) increased at a record annual rate of 33.1 percent in the third quarter of 2020, as efforts continued to reopen businesses and resume activities put on hold by the pandemic, the Bureau of Economic Analysis […]


Capital and Risk, Macroeconomic

As Washington delays stimulus, the Fed is running out of ways to help the economy

October 28, 2020

Via: CNBC

Federal Reserve officials have been pressing Congress to provide more fiscal help to the U.S. economy, and with good reason: The central bank is running out of ways it can help. Since the expiration of key provisions of the $2.2 […]


Channels

How banks can be supported to achieve full open banking adoption

October 28, 2020

Via: FinTech Futures

Banks have been at the heart of this progress and are the gatekeepers to further advancements. However, commitment from all banks towards achieving full adoption hasn’t always been forthcoming, and in order to maximise the potential of open banking, the […]


Activity, Trading

Dow sinks 800 points as investors fear rise in coronavirus cases could halt the economic recovery

October 27, 2020

Via: CNBC

U.S. stocks fell sharply on Wednesday amid concerns over the latest increase in coronavirus infections and its potential impact on the global economy. The Dow Jones Industrial Average dropped 803 points, or 2.9%. The S&P 500 slid 2.9% and the […]


Activity, Corporate Banking

HSBC beats estimates, reports 36% year-on-year fall in pre-tax profit for the third quarter

October 26, 2020

Via: CNBC

Hong Kong-listed shares of HSBC popped on Tuesday after third quarter profits beat market expectations. Europe’s largest bank by assets reported profit before tax of $3.07 billion in the July-to-September quarter, 36% lower than the $4.84 billion recorded a year […]


Business Banking, Products

JPMorgan Chase takes on Square and PayPal with smartphone card reader, faster deposits for merchants

October 21, 2020

Via: CNBC

JPMorgan Chase is making a play to sell more services to millions of American small business owners, pushing into an area pioneered by fintech firms including Square, PayPal and First Data, CNBC has learned. The bank is rolling out a […]


Activity, Insurance

New Mercury Insurance Programs Target California Homeowners’ Wildfire Risk

October 21, 2020

Via: Insurance Journal

Mercury Insurance has launched two new programs designed to help Californians better protect their homes and families if they live in areas prone to wildfires. Homeowners who take one or more steps to either harden their homes against wildfires or […]


Capital and Risk, Operational

Unlocking the benefits of unstructured data in banking

October 20, 2020

Via: FinTech Futures

But the sector wasn’t always as open to embracing new technologies. Until the arrival of challenger banks like Monzo and Starling Bank a little over five years ago, who showed the benefits that taking a digital-first approach could bring, traditional […]


Capital and Risk, Macroeconomic

A blue wave on Election Day may unleash $2.5 trillion in stimulus, Goldman Sachs says

October 19, 2020

Via: Aol

Break out those shovels, picks and the debit cards if a blue wave of Democrats washes into D.C. come Election Day. Goldman Sachs said Monday in a new note that a blue wave could lead to a whopping $2.5 trillion […]


Capital and Risk, Macroeconomic

Future economic relief should care for more families

October 19, 2020

Via: FinTech Futures

The CARES Act partially stabilised the financial health of many families facing unemployment and other economic hardships in the wake of COVID-19. However, millions of immigrants and their families who pay taxes and provide essential services were not eligible for […]