Tag: Bank

How the People’s Bank of China Denied Bitcoin’s ATH

The latest Bitcoin rally which started in August of 2016 has been single-handedly crushed by a government backed financial institution, what a surprise right? After the 6 month rally Bitcoin approached its ATH which is currently $1163 (Bitstamp). The price peaked at $1139, just $24 shy from breaking the record when the PBOC decided to issue a “warning” regarding the cryptocurrency. The warning was issued in Chinese, but here are …
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Italy’s Largest Bank Announces 14,000 Job Cuts To Stay Afloat

The banking sector is under severe pressure from all sides,  and coming up with the necessary solutions proves to be challenging. To make matters worse for Italy’s largest bank, they are forced to let go 14,000 of their employees. Additionally, they will need to raise 13 billion Euros to get rid of their bad debt–not a happy Christmas for a lot of employees, that much is certain. UniCredit Cuts Workforce …
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Wells Fargo CEO Finds His Bank Needs Less Regulatory Oversight

Wells Fargo has built up the wrong kind of reputation over the past year or so. After committing account fraud and engaging in other types of misbehavior in more recent years, the bank should be facing more scrutiny than they are subject to right now. But even after that track record, their upper brass demands that the government should “go easy” on the bank and reduce its regulatory oversight. Wells …
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European Bank ATMs Under Pressure Due To Mounting Malware Attacks

Bank ATMs are a lucrative target for hackers, as these devices can be exploited in a multitude of ways. Cybercrime is becoming more prevalent where these machines are concerned, and thieves are mainly targeting European devices. Thanks to the usage of malware, they can force ATMs to dispense money until they are empty. This is anything but good news for the world’s largest ATM makers. European Bank ATMs Are Under …
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