Business

Visa and Mastercard are reassessing whether to allow Wirecard to process payments on their networks after its huge accounting scandal, according to a Bloomberg report. Visa and Mastercard have informed several Wirecard clients that the company’s access to their payment networks may be revoked. Neither credit card firm commented directly …

On June 25, Wirecard collapsed leaving a debt of $4 billion from creditors after revealing a widening gap in their financial statements which their auditor EY said to be the aftermath of complex global fraud. The payments firm filed for insolvency at the Munich court explaining that their $1.5 billion …

Last week, stocks closed sharply lower, as the weight of the ever-increasing coronavirus cases in half of the United States became too much for the optimistic investors to overlook. Florida and Texas— which had an early lockdown— are now the epicenters of America’s outbreak. Both states took additional measures to …

As the market closed last Friday (June 19, 2020), the S&P 500 was going up to 41% from the March 23 lows. According to FactSet, the rally in stock process combined with the reduction in earnings forecasts have pushed the S&P’s forward 12 months P/E ratio to 21.9. The widely …

Companies, more specifically, the largest ones are becoming bigger and bigger. But startups are disappearing, brick-and-mortar shops are having a hard time financing only to make it to the following month, whereas the mid-size players are running in fumes. All of these add up to the sobering challenges for the …

As the Covid-19 pandemic rages across the globe, IBM helps fight the battle of shortages in the medical supply chain by bringing in new technology solutions called the IMB Rapid Supplier Connect. This tech is a blockchain-based network that is designed to help the government and healthcare organizations to identify …

Investment bank giant JP Morgan Chase is currently offering a variety of small businesses financing options to help them through their entrepreneurial ventures amidst the COVID-19 crisis. Financing from the bank includes short terms lines of credit to fill working capital needs, business loans for larger investments and capital for …

The United States Internal Revenue Service has implemented an effective taxation mechanism on all crypto assets. In essence, every time a person makes a purchase or an exchange using a digital currency, they are exposed to major taxations compared to people who use normal fiat currencies.   Many analysts have argued that this brutal tax regime has been one of the …

Bitcoin dominance is almost at 54% as analysts are now holding back in trades waiting for the Bitcoin to make its next move. Traders are postponing trades as they don’t want to expose too much of their capital in these volatile conditions. Whilst a booming BTC price is something we …

Ethereum was to undergo an update on its system known as a ‘Hard Fork’ on January 16th/17th. However, due to a vulnerability with the upgrade found by ChainSecurity, as mentioned in there blog post on 15th January, the new Ethereum fork would be vulnerable to the Reentracy attack. This meant …