Amazon will not have to pay the UK’s new digital services tax on products it sells directly to consumers but small traders who sell products on its site will face increased charges. © Provided by The Guardian Photograph: Pascal Rossignol/Reuters The government’s new digital services tax, which aims to get tech […]
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Digital Transformation for Financial Services: 3 Reasons to Hit the Gas
While the financial services industry is undergoing almost constant transformation, fintech startups drive most of it. As these rising stars continuously find new ways to introduce customer-centric innovation, incumbent financial institutions are struggling to keep up. “The 2020 State of Digital Transformation,” a new report from Altimeter, a Prophet company, […]
Comcast Offers Thousands of Grants, Equipment, Marketing and Technology Resources to Small Businesses Hardest Hit by COVID-19
Comcast RISE Initiative Provides Small Businesses with Free Marketing Insights and Opportunities to Apply for Media, Technology Upgrades and Grants Up To $10,000 Black-Owned Small Businesses, Those Impacted Most by the Pandemic, are the First Eligible Applicants for Comcast RISE Resources and Grants. Comcast Corporation (NASDAQ: CMCSA) today launched Comcast RISE, an initiative […]
Digital Banking Market Demand to Hit $12 Trillion by 2026; Global Market Insights, Inc.
SELBYVILLE, Del., Oct. 13, 2020 /PRNewswire/ — Global Market Insights, Inc. has recently added a new report on the digital banking market which estimates the market valuation for online banking will cross US$ 12 trillion by 2026. The extensive adoption of online banking platforms and proliferation of mobile banking solutions are anticipated […]
US In Danger Of Becoming A ‘Renter Nation’ As Home Prices Hit Record High, Says Investor
KEY POINTS Every $1,000 increase in home price pushes 150,000 buyers away: Report Rental prices have dropped by 0.1% since last month: Report Homebuying is currently led by people with jobs and equity Rising demand for homes, unprecedented levels of mortgage rates and low supply have pushed home prices out of reach for […]
How Australia-China relations have hit ‘lowest ebb in decades’
A Chinese officer outside the Australian embassy in Beijing in July Tensions between Australia and China have recently read like the edge-of-your-seat part of a geopolitical thriller; no-one knows exactly where the story is going or how it’s going to end. “The Australia-China relationship is unravelling at a pace that […]
S.F. homes for sale hit a 15-year-high, as deluge of new condos flood the market
San Francisco’s residential real estate market saw brisk activity from July through September with a steep increase in both sales and inventory, as a significant jump in buyers was not enough to keep up with the deluge of new condos and homes flooding the marketplace, according to a new report […]
UK bolsters salary support for those hit by local lockdowns
The British government will pay two thirds of the salaries of workers in companies that have to close as a result of new coronavirus lockdown restrictions, which are widely expected to come into effect next week By PAN PYLAS Associated Press October 9, 2020, 3:37 PM • 4 min read […]
Worst Economic Plunge, Informal Workers Hit Hardest
Smart policies for informal workers key for recovery WASHINGTON, October 8, 2020— says the World Bank in its twice-a-year-regional update. Released today, the latest South Asia Economic Focus Beaten or Broken? forecasts a sharper than expected economic slump across the region, with regional growth expected to contract by 7.7 percent […]
Chart: K-shaped economic recovery and ‘double hit’ for low-wage workers
The economic recovery from the pandemic is causing uneven outcomes between workers at the top and those at the bottom. One chart shows how employment among low-wage workers earning below $16 has fallen 27% since February, and it’s still dropping. By contrast, middle and high-wage workers have seen their employment […]
This AI Tool For Diagnosing Autism Could Hit The Market ‘In The Second Half Of 2021’
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WHITE OAK, MD – JULY 20: A sign for the Food And Drug Administration is seen outside of the … [+] headquarters on July 20, 2020 in White Oak, Maryland. (Photo by Sarah Silbiger/Getty Images) Getty Images A tool that helps pediatricians diagnose autism with artificial intelligence and smartphone video […]
India’s TCS Plans up to $2.2 Billion Buyback as Legal Costs Hit Profit | Technology News
BENGALURU (Reuters) – Tata Consultancy Services said on Wednesday it would buy back shares worth up to 160 billion rupees ($2.18 billion), and reported a fall in quarterly profit as it set aside 12.18 billion rupees to cover legal fees related to a U.S. lawsuit. The company also named Samir […]
Billionaire wealth hit record $10.2 trillion amid pandemic, study says
CLOSE As millions of Americans lost jobs amid the raging coronavirus pandemic, billionaires’ wallets swelled to reach new heights, according to a new study. Between April and July, billionaire wealth hit $10.2 trillion for the first time ever, according to a study released by the Swiss banking institution UBS and accounting firm PwC. The […]
GE hit with SEC ‘Wells notice’ over massive insurance losses
Boston-based GE first disclosed the government investigation into its accounting practices in 2018, after a multibillion-dollar underestimate of its insurance business created a shortfall in its reserves. At the time, then-Chief Financial Officer Jamie Miller said on a conference call with analysts, “There’s nothing here I‘m overly concerned about.” The […]
Paychex Beats First-Quarter Expectations Despite Covid-19 Hit
Paychex (PAYX) – Get Report said Tuesday first-quarter results took a hit from the coronavirus pandemic but the payroll benefits manager still beat Wall Street’s expectations Shares of the Rochester, New York-based company were falling 2.4% to $79.57. Paychex reported net income of $211.6 million, or 59 cents a share, down from […]
Hit by commodity defaults, banks in Singapore develop digital trade registry
By Anshuman Daga and Jessica Jaganathan SINGAPORE (Reuters) – Some of the world’s biggest banks in commodity trade finance are creating a digital trade finance registry in Singapore to reduce risk of trade fraud and boost transparency after losing billions of dollars due to a spate of defaults. Banks have […]
Bitcoin Market Cap To Hit $1 Trillion By 2022, Blockstream CEO Predicts
KEY POINTS Blockstream CEO Adam Back believes Bitcoin’s market cap will increase by 400% within two years This is in response to another forecast which said Bitcoin will hit that mark by 2025 At the moment, Bitcoin is marred by lower volatility Famed cryptographer and Blockstream CEO Adam Back believes […]
Tampa Bay seniors hit hard by utility bills now face shutoffs
ST. PETERSBURG — Geraldine Goins wanted to replace her 40-year-old roof. She’d needed one for a long time. Shingles were blowing off her St. Petersburg home, and during a big storm in May, rain started leaking into one of her bedrooms. Her children helped her apply for a grant to […]
New iPad Air Marketing Materials Hit Retail Stores, Suggesting Imminent Launch
Last month Apple unveiled a redesigned iPad Air with slimmer bezels that it said would become available in October, but it didn’t give an exact date for when it would start taking orders. With October now upon us, there are indications that the new iPad Air could launch imminently, rather […]
Oil has taken the hardest hit from Trump’s positive COVID-19 test, but the market was already looking fragile
Shutterstock Oil fell as much as 5% on Friday after Presidnet Donald Trump said he had tested positive for COVID-19. That decline far outpaced other asset classes. Trump’s test has no direct impact for the oil market right now, but it has brought into stark focus the risks […]