Daily Management Review
Business & Finance

Why big banks look forward to a cashless society

Banks are like any other business, but they have a particular position on the market. They permeate every other kind of business, as an intermediate agent in almost every type of transaction, except one: cash. Thus, banks are trying to close the loophole, through the slow deletion of cash from our societies.

Travel on Mobile – All in for Google in this New Venture

A major upgrade about how one can browse and book holidays is to be announced by Google and it is ready and available to be downloaded on the smartphones.   Two cities in Europe will pop up as soon as one pulls up the normal Google search bar and simply types – for example "Europe...

Rescue Package of Tax Breaks in Budget Called for by North Sea Oil Industry

Warning that the sector is “fighting hard for its survival” amid rock-bottom prices, the North Sea oil industry has urged the chancellor to hand it a rescue package of tax breaks in next week’s budget.   Unless conditions for the industry improved, about 14bn barrels of an estimated 20bn...

$2.2 Billion Merger with SunEdison Terminated by Vivint Solar

A deal that would have seen rooftop solar panel installer Vivint Solar Inc being taken over by solar energy company SunEdison Inc was called off on Tuesday by the former company after SunEdison failed to "consummate" the deal, said Vivint Solar Inc in a statement.   As SunEdison's finances...

US Fines would Result in Loss of Jobs at Volkswagen Business in US, Europe: Company Labor Chief

In a meeting with 20,000 workers at its German headquarters on Tuesday,  the top labor official of Volkswagen said that depending on how big a fine has to be paid for its manipulation of diesel emissions tests, the car maker may have to cut jobs in the United States as well as Europe and other...

China’s Banks Lost Business Wroth an Estimated $22 Billion to Alibaba and Tencent in 2015

China’s banks and UnionPay have largely been left out of China’s mobile payment revolution despite years of trying with pilot mobile payment programs and roll-outs in major cities.   Through its China Mobile Pay JV and its Merchant Services arm, UnionPay controlled about 1.8% of...

Auto Consortium for Digital Mapping in Expansion Talks says Daimler CEO

A German auto maker consortium which controls the HERE digital mapping business is in talks with potential new members, reported Reuters quoting Daimler's Chief Executive.     In a step to develop self-driving cars,  Nokia's high definition maps business was bought by German...

Expanding Footprint in Premium Luggage Market, Samsonite Announces Buying Tumi for $1.8 billion

With the intention of expanding presence and reach in the global luxury luggage market, Samsonite International S.A. said on Friday it would buy Tumi Holdings Inc for $26.75 per share in an all-cash transaction. The deal has valued Tumi at $1.8 billion.   Subject to regulatory and...

Stricter Banking Rules to Cover Cyber, Fraud Risks Proposed by Global Regulators

The rules that banks use to calculate the amount of capital they need to cover risks to operations from cyber attacks, fraud or hefty fines are going to be stricter if the proposals of global regulators are implemented.   The ability of big banks to use their own models to cut the amount of...

UK to Get Millions from Facebook in Taxes after a Company Policy Change

After approving fundamental changes to its corporate structure in Europe, Facebook could pay millions of pounds in UK tax.   In a major change in its policy, the revenue generated from Facebook’s largest advertisers displaying content on Facebook will be routed through the UK rather than...
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