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Economy & Finances

MasterCard outlines plans to end the use of passwords in online payments


The company has been leading the co-creation of a new authentication standard, which when adopted, will be the largest wholesale upgrade to online payment security. It will benefit consumers, banks and merchants alike, with invisible authentication and far fewer prompts for passwords. By 2018, payments on mobile devices are expected to represent 30% of all online retail[1}sales and therefore the new standard will move security infrastructure beyond the PC era, supporting emerging technologies and changing consumer needs. MasterCard’s appr... Read More »

The Bank of Moscow together with the MasterCard International Payment System has launched the campaign “300 roubles to the Pension Card account as a gift”


To become a participant, it is necessary to file an application for opening of a MasterCard® Pension Card of the Bank of Moscow, collect the card within the period from 1 to 30 November 2014, and until 10 December make purchases to the amount of more than 2,000 roubles paying by this card. The campaign results will be summed up on 25 December 2014 and the first 4,000 participants who have fulfilled the conditions will get 300 roubles to the card account as a gift. Residents of Moscow, the Moscow Region and the Kursk Region can take part in the ... Read More »

Largest ever EIB loan provides GBP 1.5 billion for National Grid investment


“Investment in the UK electricity transmission network is essential to prepare for future demand, connect new sources of renewable energy and upgrade old facilities. This agreement, the largest ever single loan to be provided by the European Investment Bank, reflects both the scale of energy investment needed and National Grid’s own experience in implementing such a diverse capital investment programme.” said Jonathan Taylor, European Investment Bank Vice President. Malcolm Cooper, Global Tax and Treasury Director at National Grid highlighte... Read More »

BGL BNP Paribas innovates with a digital signature solution for tablets


By the end of the year, 40 branches in the bank’s network will be equipped with the technology. Instead of signing everyday transaction documents on paper, clients can now do so using tablets. Once the electronic document has been signed, it is immediately archived and quickly made available in the client’s “webbanking” space. The result is enhanced efficiency and quality. With the new solution, which will be extended to other processes including new client relationships and the signature of contracts, BGL BNP Paribas aims to further improv... Read More »

Juncker ‘serene’ over Luxembourg tax scandal


The Luxembourg Leaks shed light on 343 international companies, including Ikea, Deutsche Bank and Pepsi, who all benefited from secret tax deals with the Grand Duchy in order to pay as little tax as possible on their global profits. So far, the EU commission has launched formal investigations into potential illegal state aid given by Luxembourg to two companies - Fiat Finance and Amazon - but the spokesman said the new competition commissioner, Margrethe Vestager, "has all the freedom" to pursue new cases. Jean-Claude Juncker, currently c... Read More »

EU to unveil capital markets plan in 2015


Speaking at a conference of financial sector leaders and EU officials on Thursday (6 November), Jonathan Hill said that he would present an "action plan" by summer 2015 which would serve as a "roadmap to developing an ambitious capital markets union." The EU executive would also launch a public consultation involving the financial sector, politicians and NGOs, said Hill. "We still do not have a fully functioning single market for capital," he added. As the EU's new financial services commissioner, Hill has been tasked with developing a so... Read More »

Aviva: Organised gangs drive increase in crash for cash


Crash for cash – road traffic accidents deliberately caused in order to claim whiplash compensation – is now at the highest level ever detected by Aviva, the UK’s largest insurer. Organised gangs are at the heart of the increase in the number of these induced accidents. So far this year, Aviva has seen a 21% increase in organised fraud over 2013, contributing to the record number of fraudulent motor claims. More than 50% of Aviva’s motor injury claims fraud is now organised in nature and the insurer now has over 6,500 suspicious injury claim... Read More »

Purchases on tablets set to surge this Christmas, and Black Friday takes hold in the UK


70% of retailers are feeling more confident about Christmas trading compared to last year, which includes 28% who said they are far more confident. This festive cheer compares favourably to last year, when just over half (52%) were feeling optimistic about the trading period ahead. The majority of those surveyed (72%) also said that they expected revenues to increase, with over a fifth (21%) expecting sales to increase by 10% or more, compared to 2013. Retailers are expecting to see growth across all of their sales channels over Christmas, w... Read More »

Allianz: What Europe’s stress tests will and won’t do


But for the assessment to be fully effective, Europe needs to do more, including finish work on the four legs of successful economic integration. The stress tests (formally called the AQR, for asset-quality review) matter because banks play a disproportionately important role in Europe in channeling funds to productive activities. Despite significant capital increases in the last few years, doubts have remained about the health of their balance sheets and operations, and their role as effective intermediaries. The review is also essential... Read More »

Bertelsmann Digital Media Investment sells StyleHaul Stake to RTL Group


Bertelsmann venture capital fund’s biggest exit to date Successful trend scout for the Group Bertelsmann's corporate venture activitieswin accolades from trade magazine Urs Cete, Managing Director of BDMI, says: “We are very excited that StyleHaul will from now on be owned by RTL Group, making it part of Bertelsmann’s core business. Special thanks go to StyleHaul’s founder Stephanie Horbacewski, whose excellent leadership has made it one of the fastest growing companies in our portfolio. Apart from the successful investment we have al... Read More »

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