China Credit Engine Goes Into Reverse
A sharp contraction in lending in China is forcing the central bank of the Asian country to assist, and from the government’s point of view, it is a source of need to spend more money.
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Chinese E-Commerce Giants Face Unstable Balance Between Discounts and Profit
Alibaba’s quarterly reports will be published this week and JD.com, Chinese e-commerce giants whose performance is a kind of indicator of the condition of the world’s second-largest economy, especially in the context of reflecting the sentiment prevailing in the local consumer environment.
Amazon to Invest in France
Amazon on Monday, May 13, announced plans to invest more than 1.2 billion euros ($1.3 billion) in its operations in France.
Open Banking Expo Awards return to celebrate excellence in Open Banking, Open Finance, and payments
London, UK, 9 May 2024 – Open Banking Expo, the premier global community of Open Banking and Open Finance executives driving digital transformation in the financial services sector, is thrilled to announce the launch of this year’s Awards program.
SoftBank to Intensify Its Activity in AI Industry
SoftBank Group Corp. has plans to begin implementing a more aggressive strategy in the artificial intelligence industry and other spheres of activity.
Chris Skinner’s Ramses Startup Expands to Egypt and Sudan
American fintech marketplace Ramses has Chris Skinner joining as a founding partner as it prepares to launch its business in Egypt and Sudan.
Microsoft to Invest €4 Billion in France
Microsoft intends to invest €4 billion ($4.3 billion) to build cloud and artificial intelligence infrastructure in France.
Chinese Employees Cash Out CBDC Due to Lack of Utility
Although many state Chinese workers receive their salaries in “e-CNY” CBDC aka digital yuan, survey shows they seldom have chances to use it and often convert it all to physical cash.
Apple & OpenAI Finalizing ChatGPT iPhone Integration Deal
ChatGPT is expected to be integrated into Apple’s next operating software update, iOS 18, if the deal is finally sealed.
Mastercard Launches Domestic Payments Processing in China
Mastercard, having established a joint venture, has started domestic payment processing activities in China.
Porch Group Reportedly Sues China Construction Bank
Media reports that the Porch Group, a United States-based homeowner’s insurance company and provider of home inspection software, has sued China Construction Bank, accusing this financial institution of reinsurance fraud.
Uber Reports First-Quarter Results
Uber has released data on its financial results for the first quarter of the current year.
UK Economy Escapes Recession
The economy of the United Kingdom has left the recession zone, as evidenced by the fact that in the first quarter of the current year, the local gross domestic product (GDP) showed growth of 0.6% compared to the previous three months.
Alibaba Launches New Version of Its Large Language Model
Last Thursday, May 9, China’s Alibaba Cloud announced the launch of a new version of its large language model.
Snapchat Focuses on App Safe
Snapchat owner Snap Inc. intends to take responsibility for the user experience in its app, including in the context of ensuring the safety of children.
OpenAI Reportedly Plans to Announce Google Search Competitor
The media, citing two insiders, reported that OpenAI is currently completing preparations for the debut of its new product, which is an artificial intelligence-based Internet search system.
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