China’s banks and UnionPay have largely been left out of China’s mobile payment revolution despite years of trying with pilot mobile payment programs and roll-outs in major cities.   Through its China Mobile Pay JV and its Merchant Services arm, UnionPay controlled about 1.8% of...

A German auto maker consortium which controls the HERE digital mapping business is in talks with potential new members, reported Reuters quoting Daimler's Chief Executive.     In a step to develop self-driving cars,  Nokia's high definition maps business was bought by German...

With the intention of expanding presence and reach in the global luxury luggage market, Samsonite International S.A. said on Friday it would buy Tumi Holdings Inc for $26.75 per share in an all-cash transaction. The deal has valued Tumi at $1.8 billion.   Subject to regulatory and...

The rules that banks use to calculate the amount of capital they need to cover risks to operations from cyber attacks, fraud or hefty fines are going to be stricter if the proposals of global regulators are implemented.   The ability of big banks to use their own models to cut the amount of...

After approving fundamental changes to its corporate structure in Europe, Facebook could pay millions of pounds in UK tax.   In a major change in its policy, the revenue generated from Facebook’s largest advertisers displaying content on Facebook will be routed through the UK rather than...

Victims of the famous Bernard Madoff, who founded the largest Ponzi scheme in the history of global finance, do not want retake $ 2.5 billion. Is it simple forgetfulness or caution? According to estimates of US law enforcement agencies, the collapse of Madoff’s speculation burned $ 20 billion of...

Japanese Toshiba Corp has asked the three banks in the country for additional credits amounting to approximately $ 1.8 billion. The company intends to finance the restructuring after the scandal of fraud in the financial statements, according to "Reuters", citing sources familiar with the...

Construction of a new Airbus factory has been launched in China today. Investments into the project are estimated at $ 150 million. The company plans to embody and additionally supply wide-body aircraft A330 there, and then deliver them to final consumers. The solemn ceremony devoted to the...

Raising the prospect of a takeover battle with Deutsche Boerse and lifting LSE shares to a record high on Tuesday, New York Stock Exchange owner ICE said it may make a rival bid for London Stock Exchange.   As news of Atlanta-based Intercontinental Exchange Inc’s interest pushed up share...