Earthport offers cross-border payment services to banks, money transfer service providers and other businesses through the largest independent ACH network. The companies said in a press release last week that the deal will boost Visa Direct’s pantheon of use cases, with Visa noting that the transaction count growth over the last 12 months has been more than 100 percent.
Gains were capped by an as much as 0.7% fall in Commonwealth Bank of Australia, the country’s largest bank.
Big numbers: Investors who bet against Tesla’s stock have been losing droves of money since the beginning of the year—including $2.5 billion on Monday alone. Tesla has more short sellers than any other U.S. stock—18% of its publicly available shares are sold short, according to data from market analytics firm S3 Partners. Short sellers usually borrow shares from a bank and then sell them with the hopes that the stock will go down so they can profit on the difference. But with Tesla, the stock price has steadily trended higher in 2020, forcing short sellers to take losses when buying back shares at a higher price. If too many short sellers buy the stock in tandem, as is the case with Tesla, that can in fact create higher demand and drive share prices even higher, known as a “short squeeze.” Including the $2.5 billion lost by Tesla short sellers on Monday, investors who bet against the electric-vehicle maker are down a total of $8.3 billion so far this year, according to S3.
“Together we create the European World-Class leader in digital payments,” said Grapinet in a statement. “I am convinced that the combination of our respective remarkable talents [SIC] pools, joint capabilities and state-of-the art offers will procure our combined Company an outstanding value proposition to pursue an exceptional growth benefitting to all our clients, banks and merchants alike and to all our business partners. This is a landmark transaction for the industrial consolidation of European payments, highly value creative for all our stakeholders and for the shareholders of both companies, and which ambitions to reinforce the role of Europe within the global digital payment ecosystem.”
Mortgage rates have fallen sharply this year with most of those cuts having been passed on by the banks.
The Reserve Bank is proposing a lift in the amount of risk-weighted capital retail banks hold, from 8.5 per cent to 16 per cent.
ASB's first-half net profit fell 5 per cent, mostly reflecting a loss on the sale of its funds administration business and a flat underlying result. The bank reported a net profit of $599 million for the six months ended December, including a $28m loss from selling Aegis last year, compared with $630m in the same six months a year earlier.
Hanyecz was an early adopter of Bitcoin, the first cryptocurrency, which was launched the previous year by the anonymous figure or group of people known as Satoshi Nakamoto. Many in the tech industry saw the great early potential of Bitcoin to become a secure way to transfer digital currency globally, free of banks and their high fees and completely anonymously.