Category: Finance

Here’s why crypto companies need to focus on embedded finance

A new study by Decta highlights the importance of embedded finance features in today’s fintech world. With online shopping and digital payments becoming a norm, the study pointed toward some key drivers for a seamless customer experience.

Embedded finance is a new type of distribution software that works with financial infrastructure providers to include financial services in the ecosystems of already-existing products. The most common embedded finance offerings include banking, lending, insurance, payments and branded credit cards.

According to the study, quick payments and the availability of a selected payment option are the most crucial elements for a satisfying online

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ChatGPT is “killing” Google’s dominance

Shark Tank star Kevin O’Leary said he’s trying to decide whether to invest in the next funding round of ChatGPT.

“I am very fortunate to be offered to take down some equity, but it’s a $29 billion valuation with virtually no revenue… I’m looking at it,” O’Leary said on Yahoo Finance Live (video above).

OpenAI was last valued at $29 billion in an early January funding round, led by a $10 billion slug secured from Microsoft. The tech giant is integrating OpenAI’s ChatGPT AI into its Bing search engine.

“We’ll probably add a 1% weighting into ChatGPT in the portfolio

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G20 exploring cryptocurrency regulation, India’s finance minister says

By Nikunj Ohri

(Reuters) – The Group of 20 (G20) big economies is exploring whether the group could collectively regulate cryptocurrencies, Finance Minister Nirmala Sitharaman said on Saturday.

Given the sophisticated technologies involved with these virtual assets, countries must discuss whether a given regulation is needed, said Sitharaman, whose country is this year’s G20 president.

Prime Minister Narendra Modi’s government has for several years debated drafting a law to regulate or even ban cryptocurrencies but has not made a final decision.

“We are talking to all nations, that if it requires regulation, then one country alone cannot do anything,” Sitharaman

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Bankruptcies, proposals to renegotiate loan terms to rise in Q1

Bankruptcies, proposals to renegotiate loan terms are expected to rise in the first quarter

Canadian business insolvency filings will grow 37.2 per cent in 2022.
Canadian business insolvency filings will grow 37.2 per cent in 2022. Photo by Brent Lewin/Bloomberg files

Signs are mounting that households and businesses are struggling to manage the rising cost of debt with bankruptcies and proposals to renegotiate terms of loans expected to rise, at least in the first quarter of the

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Adani Credit Flashes Warnings After Group Gorged on Cheap Debt

(Bloomberg) — Gautam Adani’s sprawling corporate empire embraced the era of cheap debt like few others. But with the yields spiking and access to overseas financing suddenly in question, investors and analysts say the borrowing blitz has made it all the more vulnerable amid its worst crisis ever.

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The conglomerate, with businesses stretching from ports to renewable energy, tapped international bond buyers for more than $8 billion in recent years, while also turning to global banks for at least as much in foreign-currency loans, data compiled by Bloomberg show. After its borrowing costs surged in response

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ESG tops regulatory demands in finance as UK, EU rules diverge

LONDON (Reuters) – Financial firms in Britain and the European Union remained under significant pressure to comply with diverging environmental, social and governance (ESG) rules over the past six months, KPMG’s Regulatory Barometer showed on Monday.

The barometer, aimed at helping firms with compliance planning, also tracks the scale of the divergence between UK and EU regulations, with KPMG saying the biggest differences are in areas like customer protection and access to markets.

“As the UK forges ahead with new approaches post-Brexit, and regulators consider their new competitiveness objectives, firms will likely need to adapt to an increasingly different set

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Some Meta employees are getting paid to do ‘zero work’ as the company embarks on a ‘year of efficiency’: Financial Times

MetaMark Zuckerberg

Meta CEO Mark Zuckerberg told investors that 2023 will be the “year of efficiency” for the company.Getty Images

  • Meta signaled in February it’s likely to cut more jobs this year after culling 11,000 jobs last year.

  • The company has delayed budget-setting for some teams as it gears up for the new round of layoffs, per the FT.

  • That has resulted in some staff doing “zero work” because managers have not been able to plan their schedules.

Meta’s “year of efficiency” may be starting on an inefficient note.

The tech giant — which laid off 11,000 people in November and

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Australia removes Chinese-made cameras from politicians’ offices

Australian officials said Tuesday dozens of Chinese-made security cameras would be ripped out of politicians’ offices, days after the country’s defense minister announced his department would remove the devices from its buildings due to security concerns.

At least 913 Chinese-made security cameras have been installed across more than 250 Australian government buildings, including the Department of Defense’s facilities, according to figures released last week.

Australian Defense Minister Richard Marles told national broadcaster ABC last week that all these cameras within his department’s buildings would be removed, saying it was to “make sure that our facilities are completely secure”.

Officials from

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