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COVID-Weakened EU Banks Fasttrack New Business Models

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The Wall Street Journal (WSJ) reports a majority of Europe's biggest financial institutions (FIs) are ending old business models, trimming unprofitable business lines, boosting profitable ones and finding a formula that works. Barclays is under pressure to eliminate its trading business, WSJ reported. In the U.K.,

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Today In Payments Around The World: Visa And EBANX Expand Collaboration In Brazil; Deliveroo Mulls Possible IPO

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Ant Group has rolled out a blockchain technology for cross-border trade by small and medium-sized businesses (SMBs) named Trusple. IMF: Global Economy Beginning To 'Turn The Corner'. Ant has invested in blockchain research and development as of 2015, with the new product representing the recent effort to look into the technology.

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IMF Managing Director Sounds Brighter Economic Tone

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International Monetary Fund (IMF) Managing Director Kristalina Georgieva said in remarks prepared for delivery Tuesday (Oct. The IMF in June projected a severe global GDP contraction in 2020. Other IMF officials have also sounded more upbeat in recent weeks as the organization prepares for the scheduled Oct.

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ECB Officials Fear Banks Will Get Hit Hard By Pandemic Fallout

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European Central Bank (ECB) officials are concerned that Euro-area banks will get hit hard in 2021 by fallout from the COVID-19 pandemic as weakened businesses slide into bankruptcy. Rising infections and re-imposed lockdowns have damaged confidence and lowered mobility,” according to the IMF statement. “A

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IMF: World Economy Will Grow Only 3 Pct In 2019

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and China have made for a “precarious” economic state, the International Monetary Fund (IMF) said worldwide growth is slated to drop to its slowest rate since the global recession in 2009. The IMF said there is a need for immediate attention to stop hostilities as well as bring back confidence to the worldwide view.

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IMF Says Global Economy Growth Uncertain

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The International Monetary Fund (IMF) has slashed its forecasts for growth of the global economy, calling it sluggish, and said there isn’t any sign on the horizon that things are going to turn around, according to a report by CNBC. Most of the drop was due to India’s slowed growth, the IMF said. percent this year. . percent for 2020.

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Today In Payments Around The World: UK To Make Firms Pay Small Businesses In 30 Days; Singapore’s Grab Considers US IPO

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UK To Require Companies To Pay Small Businesses In 30 Days. The effort is meant to relax the pressure on small and medium-sized businesses (SMBs) encountering cash flow difficulties due to the continuing pandemic. IMF Head Calls For Resources To Help Indebted Countries.

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