Jessica Folcker

China passes law allowing regions to set resource taxes

SHANGHAI/SINGAPORE - Chinese legislators approved a new law on Monday that will give local governments authority to tax as many as 164 different resources, including fossil fuels, minerals and eventually water, the Ministry of Finance said on Monday. The National People’s Congress, China’s parliament, approved the new resource tax law on Monday and it will go into effect in September next year, the ministry said in a briefing.
Officials insisted it will not raise the overall tax burden on local firms.

 Source: Reuters

Does a Data Breach Impact Such a Newly-Loved Brand Like Monzo?

Monzo is best known as a neo-bank disrupting the norm, developed for the smartphone generation, and removing the need for physical branches, cheque books and call centres. The entire principal is based around its app with a focus to build the best current account in the world. They have a vision to become an intelligent hub for your entire financial life. Monzo has gone from strength to strength since its launch in 2015, with more than 2 million customers in the UK – and adding to that, a unicorn value. Recently they have announced a formal expansion into the U.S market. The work began several months ago and will see a U.S Monzo app and Mastercard debit card made available at pop up sign-up events around the country. The initial launch will see just a few thousand card issues with a waiting list in advance of a wider national launch. 


Source: Thefinetechtimes

Natural capital can be the bedrock of good business

With the right digital tools, natural capital approaches can transform a business' relationship with nature, argues AECOM's Robert Spencer. 
With climate change and biodiversity urgently becoming a focal point for all UK businesses, the way in which the industry interacts with nature is significantly changing and will continue to transform...

 

Source: Business Green

Shell closes in on takeover deal for Australian energy supplier ERM Power

Oil giant makes first foray into Australia's competitive power market as it continues drive into consumer energy supply, renewables, and clean technologies. Shell is closing in on its first foray into Australia's competitive electricity sector with a (AUS) $617m takeover bid for ERM Power Ltd, as the oil and gas giant continues its drive into the consumer...

 
 
Source: Business Green
 

Merkel's Bavarian allies call for German climate bond

FRANKFURT - Germany’s Christian Social Union (CSU), the sister party of Chancellor Angela Merkel’s Christian Democrats (CDU), are planning to launch a climate bond to help fund its efforts to reduce emission targets. “Climate change needs billions of euros of investment in climate friendly technologies,” Alexander Dobrindt, a senior lawmaker from the CSU Bavarian party in Merkel’s coalition, told the weekly Bild am Sonntag.

Source: Reuters

Prominent Business Leaders Join Dubai Chamber’s Global Business Forum (GBF) Mentorship Programme

Business leaders from the UAE and Africa to mentor high-potential startups as they build their businesses and target new market opportunities; announcement comes ahead of the 5th Global Business Forum on Africa, taking place on November 18th-19th 2019 in Dubai; first-of-its-kind mentorship programme aims to foster cross-border cooperation between UAE and African startup communities

Source: thefintechtimes

Citigroup's new shipping finance chairman to deepen environmental focus

LONDON - Citigroup’s veteran shipping finance banker Michael Parker is to become chairman of the bank’s shipping & logistics business, a role which will include bolstering the lender’s environmental focus in the sector, Citi said on Thursday. 

In June, Citi was among a group of leading banks who signed up to environmental commitments known as the “Poseidon Principles.”

These will for the first time integrate efforts to cut CO2 emissions into banks’ decision making when providing loans to shipping companies.

The initiative highlights how businesses are having to respond to moves by investors around the world to factor environment, social and governance (ESG) risk into their commercial strategy.



Source: Reuters

UK Fintech CashFlows Continues Growth with Akamai in Face of Increasing Cyberthreats

Akamai, the intelligent edge platform for delivering and securing web experiences, has announced it is protecting CashFlows, an innovative FinTech offering comprehensive merchant services, alternative payments, and BIN Sponsorship solutions (card issuing and ATMs), from the growing threat of Distributed Denial of Service (DDoS) attacks against its cloud-based services. 

View source

Customer Currently Not Number 1 for CFOs as 32% of Companies Still Yet to Start their Digital Transformation

According to almost two-thirds of CFOs (65%), digital transformation will result in fewer jobs, despite the fact that 32% of organisations aren’t currently undergoing this change, with 23% not planning to look at digital transformation for at least a year or more, as discovered in the FinTech Barometer 2019, the annual survey by fintech company Onguard.

View source

 

Trump 'not ready' for China trade deal, dismisses recession fears

WASHINGTON (Reuters) - U.S. President Donald Trump and top White House officials dismissed concerns that economic growth may be faltering, saying on Sunday they saw little risk of recession despite a volatile week on global bond markets, and insisting their trade war with China was doing no damage to the United States.

Five Top Tips to Make a Career in Tech

As young adults pick up their exam results and start the next chapter of their lives, career choices are at the forefront of many broadening minds. Perfect timing then to remind some of those female young minds that a career in tech is definitely worth serious consideration. Although more are beginning to do so, it is a real shame that the field remains male dominated. I would never have chosen this career path myself as a young woman – luckily I fell into it by accident and it is the perfect fit. I believe it could be the best fit for more young women.

View source

 

Twenty-two states sue Trump administration over carbon rule replacement

WASHINGTON (Reuters) - Twenty-two states, including New York and California, and seven cities on Tuesday sued to challenge the Environmental Protection Agency’s replacement of the Obama administration’s Clean Power Plan, arguing it prolongs U.S. reliance on coal power and obstructs states that pursue cleaner electricity generation.

View source

 

Celebrating Africa’s Digital Potential on UN Youth Day

Many things have been said about the future Africa and its potential, it has been called the Opportunity Continent, the Next Frontier and Africa rising, with all of these true. For me the excitement comes in how Africa can, and will one day lead in the digital economy, not only creating a better future for its young people, but for people across the entire continents, whether here in Africa or elsewhere like in Europe or the US.

View source

Banking on Security: Keeping Data Secure in Financial Services

The protection of sensitive data in line with regulations, both for banks and other financial services organisations, is currently a big challenge. The way these organisations operate has changed dramatically in recent years, due mostly to the fact that financial institutions are not only heavily regulated by data privacy requirements, but they are also under mounting pressure to be open to consumers and businesses about how they are protecting their data from potential breaches.

View source

 

'Expect craziness' as China readies debut of Nasdaq-style board

Eight months after President Xi Jinping unveiled plans for Shanghai’s technology innovation board, the first batch of 25 companies - ranging from chip-makers to biotech firms - will debut on the STAR Market.

Modeled after Nasdaq, and complete with a U.S-style IPO system, STAR may be China’s boldest attempt at capital market reforms yet. It is also seen driven by Beijing’s ambition to become technologically self-reliant as a prolonged trade war with Washington catches Chinese tech firms in the cross-fire.

View source

The Rise of e-Commerce in Latin America

Being home to richer nations such as Uruguay and Chile whose GDP per capita parallels those of mid-ranking EU countries, alongside poorer states such as Peru and Colombia which have a GDP per capita lower than the poorest EU member state, it is unsurprising that Latin America is universally known for being one of the most economically diverse areas in the world. 

View source

 

Senate to grill Facebook over plans for Libra cryptocurrency

WASHINGTON/NEW YORK (Reuters) - U.S. lawmakers from both sides of the aisle are set to grill Facebook Inc on its cryptocurrency plans on Tuesday, as the project continues to draw intense scrutiny from financial regulators and politicians across the globe. Facebook is fighting a rearguard action to get Washington onside after it shocked regulators and lawmakers with an announcement on June 18 that it was hoping to launch a new digital coin called Libra in 2020.