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...Wholesale areas (est. 60% of core Citi) are positioned for share gains with its ~5K multinational and ~12K corporate clients in 3 LOBs: Services (27%, mostly payments), Markets (25%), and Banking (8%)....
...Payment services company Magnati was spun out of First Abu Dhabi Bank and is now majority owned by Canadian private equity giant Brookfield....
...Now it is under intense scrutiny from regulators in two of its key markets, the US and the EU. Its responses have indicated it is steeling itself for an existential battle....
...It would also set a dangerous precedent, empowering government to take a heavy hand in designing people’s technology.”...
...For Apple, giving users a choice of app stores and payment providers on iOS means unpicking a wide array of technical linkages between services, as well as publishing 600 new application programming interfaces...
...Assuming the government wins on the market power issue, I think the case for undoing those two mergers is a pretty good one....
...The payment will go directly to the Russian budget, boosting the Kremlin’s coffers at a time when President Vladimir Putin’s government is raising funds to support record defence spending on prosecuting...
...On the plus side, Apple’s net income margin has remained high thanks to growth in services such as streaming and payments....
...Berkshire noted that in January the federal government indicated it intended to sue over unpaid costs incurred by the US Forest Service for fire suppression and emergency response related to a 2020 blaze...
...service....
...The so-called Swedish model was developed in 1938 between unions and employers, and means that labour market conditions in Sweden including wages are set by the two parties and not the government....
...JOSHUA FRANKLYN: In 2022, almost two years after the Revlon case, there's another issue with Citi....
...In the same period, Tether, the market leader, strengthened its position in the sector by grabbing roughly two-thirds of the stablecoin market share....
...For example: if Generic Greek God Capital is buying Widgetmaker Inc, 70 per cent of the equity it ponies up might come from one of its LBO funds....
...A version of this article was first published by Nikkei Asia on November 28. ©2023 Nikkei Inc. All rights reserved....
...The service works with payment service providers including Stripe, Adyen, and Square....
...to an official tally published by the Centers for Medicare and Medicaid Services, a US government agency, last week....
...governments in Catalonia, Valencia, Aragón and the Balearic Islands....
...The scheme’s payments were made through the US financial system, prosecutors said. Two other cases US authorities unveiled had ties to Russia and led to arrests earlier this month....
...The increasing interconnectivity of the financial system and the emergence of new payments systems are all helping criminals become more effective....
...The number rises to $250bn once you throw in other disposable income sources such as social security payments....
...The two financial centres have set up new fund structures, which enjoy government subsidies and are lightly taxed. They look like a direct challenge to offshore centres such as the Cayman Islands....
...Instead, he has blamed the fallen payments group’s fugitive second-in-command Jan Marsalek and former Dubai-based manager Oliver Bellenhaus for creating a “shadow structure”, hijacking payments processing...
...Meanwhile, on the other side of the venture, Ant, which owns China’s Alipay payment app with over 1bn users, failed to promote the venture’s products as much as had been hoped....
...Quotable “We saw a significant increase in usage of [buy now, pay later services] over the past two years....
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