The Bank for International Settlements (BIS) said it fully supports the efforts of nations around the world to develop central bank digital currencies and the need to modernise financial systems, Reuters wrote. The BIS, known as the "central bank of central banks", helps regulators coordinate...

Chinese electric car maker Xpeng Motors, whose shares are traded in the US, has received approval of its IPO bid on the Hong Kong Stock Exchange. It plans to raise between $1bn and $2bn; last August, the company raised about $1.7bn in an IPO in New York. The Hong Kong Stock Exchange's listing...

Japan’s Nissan Motor supported China based autonomous driving startup WeRide raised $310 million at a $3.3 billion valuation recently and announced that it would be deepening its partnership with the Japanese auto giant for development of autonomous driving technology and vehicles aimed for the...

One of the world's largest online retailers, Amazon, has retained its title as the most expensive brand, up 64% year-on-year to $683.8 billion, according to a Kantar BrandZ study. Overall, the top three remained unchanged. Second place went to Apple, as it did a year earlier, with Google in third...

International payment service PayPal and Visa Inc. one of the world's two largest bank card companies, are investing in a $300 million Crypto VC blockchain fund, Coindesk reported, citing confirmation from Paypal. "PayPal and Visa are trying to get into the crypto industry as partners in the fifth...

A proposed cash offer of 5.52 billion pound ($7.62 billion) by the United States based private equity firm Clayton, Dubilier & Rice (CD&R) for the British supermarket group Morrisons have been rejected by the later as it said that the offer was far too low.   It received the...

The industrial relations watchdog of Australia has filed a case against the country’s largest supermarket chain Woolworths Group over allegations that the company underpaid its staff. It was more than a year ago that the company had admitted that it was not making fill payments to thousands of its...

A new joint venture partnership with the joint venture with Customcells is being forged by the luxury sports car unit the German auto powerhouse Volkswagen, Porsche AG, for making batteries for electric car batteries that will have significantly higher performance levels which will help to reduce...

Merchant costs for its branded payment products will be lifted by PayPal Holdings Inc while also cutting down on those for behind-the-scenes processing of some Visa and Mastercard transactions which is being seen as a bold move by the company in the digital payments sector which is getting...