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Banking

90 percent of Americans are poorer today than in 1987
The American Dream is slipping further away from the vast majority of Americans than it has in a quarter century. Now 90 percent of US households are poorer than they were in 1987, according to both a new study and the head of the Federal Reserve.

24.10.2014 17:16

China launches new World Bank rival
China and India are backing a 21 country $100 billion Asian Infrastructure Investment Bank (AIIB) to challenge to the World Bank and Asian Development Bank.

24.10.2014 11:15

‘EU in court!’ Biggest Russian lender Sberbank launches sanctions appeal
Sberbank is taking the European Commission to court in an effort to lift the Western sanctions imposed in August, the bank’s press service announced on Friday.

24.10.2014 06:46

New AppleGate? Customers furious after Apple Pay double charges them
Bank of America and Apple are both apologizing to customers after a glitch left users of the computer company’s new mobile payment system being charged double by the financial giant.

23.10.2014 17:11

Good fundamentals make ruble ‘stable’ currency - Russian Central Bank
Russia’s currency has taken a significant 20 percent plunge this year against the dollar and euro, but analysts are confident that Russia’s sturdy stash of foreign reserves and miniscule external debt make the ruble one of the ‘most stable’ currencies.

22.10.2014 14:42

Cashing out: ‘Electronic payments taking over, banks to abandon paper money soon’
More and more countries are using electronic payments instead of physical as they’re much cheaper, easily traceable and help to combat terrorism financing, money laundering, tax evasion and the black market, economist Konstantin Gurdgiev told RT.

22.10.2014 06:50

'U​ncertainty shock’: Hung parliament and EU referendum threaten UK economy
Investors are concerned about the future stability of Britain’s business environment, warning of a “huge uncertainty shock” if the UK leaves the European Union, or ends up with another coalition government after next year’s general election.

20.10.2014 09:02

Money tweets! French bank users can now send money with Twitter
One of France’s largest banks has launched a new service which allows its users to transfer money via Twitter. The bank claims that all Twitter users in the country will be able to use the service irrespective of their bank.

15.10.2014 10:28

Russia’s two largest banks plan SWIFT alternative
The two biggest banks in Russia, Sberbank and VTB, are in talks to create an alternative to the SWIFT global system for interbank financial communications, VTB head Andrey Kostin said.

13.10.2014 10:26

​MasterCard to comply with new rules and remain in Russia - CEO
The MasterCard international payment system will continue operating in Russia and comply with the new rules set out by the Central Bank of Russia, CEO Ajay Banga has said.

13.10.2014 07:20

Vicious circle: ‘Economy not growing as companies sit on billions and don’t invest‘
Corporations around the world have billions of dollars in their bank accounts and they don’t spend it because the economy is not growing, but the economy is not growing because they are not spending the money, stock market analyst David Kuo told RT.

10.10.2014 06:57

​Russia to force card issuers to use domestic payment system
Two Russian deputies have submitted a bill to the State Duma that would require all foreign and domestic payment card issuers to work exclusively with the new National Payment System in Russia.

07.10.2014 07:02

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