New yen notes set to be introduced this summer won’t be compatible with many machines that businesses like ramen shops rely on.
Tag: Banking and Financial Institutions
European Central Bank Cuts Interest Rates for the First Time Since 2019
The quarter-point reduction comes as inflation in the eurozone cools, prompting the E.C.B. to move before the Federal Reserve in the United States, where rates remain high.
Collectors Line Up in London as King Charles Bank Notes Are Released
A steady stream of people lined up at the Bank of England on Wednesday to get what they hoped would be collector’s items: the first bank notes featuring the portrait of King Charles III.
Biden Moves to Open U.S. Banks to Cuba’s Private Sector
The rules will allow Cuban entrepreneurs to open bank accounts in the United States, making it easier for them to expand and encouraging other Cubans to start businesses.
Ukraine Needs Money to Fight. Can Seized Russian Assets Help?
Kyiv’s supporters are discussing how to use the interest earned by frozen Russian assets to help pay for weapons and postwar reconstruction.
Europe’s Policymakers Get Ready to Lower Rates, Regardless of the Fed
European Central Bank governors are highlighting cooler inflation as a sign the bank could cut interest rates before the Federal Reserve.
Vietnamese Real Estate Tycoon Sentenced to Death in $12 Billion Fraud Case
Truong My Lan received the death penalty as Vietnam’s Communist Party cracks down on corruption in the fast-growing Southeast Asian economic hub.
U.S. Approves $500 Million for Bahrain Oil Project, Despite Opposition
The financing faced criticism that it doesn’t mesh with U.S. commitments on climate change. Earlier, two climate advisers had resigned over the plan.
Handling of Sex Abuse Inquiry Poses Test for World Bank’s Ajay Banga
The bank is facing scrutiny as it debates how to compensate victims of abuse at Kenyan schools that it was financing.
Divisions Among Finance Ministers Flare Over Seizing Russian Assets
France’s finance minister, Bruno LeMaire, said there was no legal rationale for giving the Russian central bank funds to Ukraine.