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As mobile wallets have become increasingly mainstream, they have largely been dominated by technology giants like Google and Apple. Mastercard is looking to broaden that landscape with new tools that allow banks and fintechs to build their own digital wallets directly into their existing apps. Mastercard’s Wallet Services platform enables companies to develop digital wallets…
Corient announced another blockbuster registered investment advisor acquisition on Wednesday. The Miami-based RIA owned by Mubadala Investment Company said it reached a deal to acquire Summit Trail Advisors, a New York-based RIA overseeing $21 billion in client assets, with a focus on ultra-high-net-worth individuals and families, as well as some institutional business. The deal is…
With Iran’s economy in free fall, the country’s currency is getting dragged down too and continues to find new depths with the regime facing a major cash crunch soon. The U.S. naval blockade has sent Iran’s oil exports to virtually zero, while its Persian Gulf neighbors have boosted their own shipments under the protection of…
With just days until Europe’s Markets in Crypto-Assets (MiCA) regulations take full effect on July 1, Binance finds itself without the license needed to continue operating across the EU. The setback has triggered a scramble among licensed exchanges to win over its customers with bonuses, promotions, and cash incentives. Binance founder Changpeng Zhao criticized the…
Key Points Berkshire’s second-quarter operating earnings rose 16% year over year to $13.0 billion. Currency effects on the company’s non-U.S.-dollar debt swung from an $877 million loss a year ago to a $326 million gain. Excluding that swing, operating earnings grew about 5%. 10 stocks we like better than Berkshire Hathaway › Berkshire Hathaway‘s (NYSE:…
Gift cards are often associated with special occasions, but consumers are increasingly purchasing them for their own use—and they aren’t letting those funds sit idle for long. The majority of self-use gift cards are redeemed relatively quickly, with 16% used in less than a week, 30% within one to two weeks, and another 29% within…