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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

The Wall Street Journal

The Cashless Society Has Arrived—-Only It's in China

Thu, Jan 18, 2018

Mobile payments have surged to some $9 trillion a year, way ahead of the U.S., changing how people shop, borrow—and even panhandle. The growth foretells a future where tech firms like Alibaba and Tencent drive innovation in finance....

Why Alibaba's Jack Ma Can't Seem to Win Over the U.S.

Thu, Jan 04, 2018

Ant Financial’s failed bid to acquire Dallas-based MoneyGram was the latest in a string of setbacks for the Chinese billionaire, whose companies have long sought to establish beachheads in America....

China's Yuan Setting Is Highest Since May 2016

Wed, Jan 03, 2018

China’s central bank guided the yuan to its highest level against the U.S. dollar in more than a year and a half, following the dollar’s overnight slide against global currencies....

The New Floor for Bond Underwriting Fees: $1

Wed, Jan 03, 2018

Fierce competition to underwrite debt offerings in Asia’s booming U.S.-dollar bond market is forcing some big global banks to work on deals for next to nothing. ...

Never Mind the Defaults, Venezuela Has Made Many Bondholders Rich

Wed, Jan 03, 2018

Venezuela’s bonds have lost about three-quarters of their value, reflecting a dozen missed payments by the government and the state-owned oil company. But a number of bond investors have made their money back and more....

1MDB Makes Final Payment to Abu Dhabi Fund

Wed, Dec 27, 2017

The Malaysian state-investment fund said it has paid all that is required to be paid to Abu Dhabi’s IPIC, its former business partner, by December....

Shell, Barclays Detail Billions in Tax-Linked Charges

Wed, Dec 27, 2017

Royal Dutch Shell and Barclays Bank said they would take large charges attributable to the U.S. tax overhaul—joining a parade of global firms in recent days disclosing how American tax-bill changes will affect their bottom line....

Can the Emerging Markets Rally Continue? Here's Where to Look

Thu, Dec 28, 2017

Emerging markets came roaring back in 2017, boosted by low interest rates that sparked a global search for yield. Here are five things to watch in 2018 that could determine whether this rally continues. ...

Mexico's Central Bank Raises Rates as Inflation Concerns Mount

Thu, Dec 14, 2017

The Bank of Mexico raised interest rates by a quarter percentage point after a six-month pause, as policy makers have grown increasingly worried about high inflation....

China Firms Ditch Bonds for Banks in Search for Funds

Thu, Dec 14, 2017

Chinese companies are turning away from capital markets and heading back to state-owned banks to raise cash, in a reversal of Beijing’s previous efforts to modernize the way the corporate sector in the world’s No. 2 economy is funded....