The Pound Sterling the current currency in England took a beating and plummeted to historical lows while the stock market hit record highs. Britons and the rest of the world are wondering if the country will enter a recession. In a historic vote last June 2016, the United Kingdom voted to leave the European Union. […]
Walmart, the world’s biggest company in terms of revenues, has decided to diversify its portfolio further by throwing its hat into the cryptocurrency market. According to the news agency, Bloomberg, the giant retailer filed a patent for Walmart coin last 29 January. Already working within the currency transfer services with their Walmart to Walmart tracking […]
Venezuela’s economy is a case study of financial mismanagement by the government. The country is besieged by rampant starvation, hyperinflation, and massive immigration. The downfall of Venezuela’s economy has its roots during the administration of Hugo Chavez and has worsened in Nicholas Maduro’s presidency. It should be noted that governments worldwide, including the United States, […]
Online retail giant Alibaba has thrown its hat into the money transfer business with its purchase of London-based payments and remittance servicing company WorldFirst for a reported $700M. The purchase was done through Ant Financial, the financial services arm of Alibaba. In a statement to its customers, WorldFirst officially confirmed the purchase by Ant Financial […]
During a joint press conference with Italian Prime Minister Giuseppe Conte, European Commission (EC) President Jean- Claude Juncker called out Italy’s League 5 Star government for not doing more to save the Italy’s failing economy. Rising Debt In Italy In particular, Juncker called the government’s attention to Italy’s rising level of public debt. To address […]
The world’s major fiat currencies welcomed the New Year with a bust instead of a boom as many started 2019 with a crash felt across the foreign exchange markets.