Report: Market Valuation of 14 Banking Giants Shed $635 Billion This Year

Report: Market Valuation of 14 Banking Giants Shed $635 Billion This YearThe world’s largest banks lost a considerable amount of market valuation amid the Covid-19 pandemic, according to a new report that estimates financial incumbents lost $635 billion. Between December 2019 and August 2020, the market caps of 14 major banking institutions lost upwards of 30-50% during the time period. A newly published report written by […]

The post Report: Market Valuation of 14 Banking Giants Shed $635 Billion This Year appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

Massive Layoffs: Banks Cutting Nearly 60,000 Jobs Worldwide

Massive Layoffs: Banks Cutting Nearly 60,000 Jobs WorldwideBanks are laying off workers across the globe as revenue declines throughout the sector. According to reports, banks have announced nearly 60,000 job cuts so far this year, with most of the layoffs happening in Europe, especially in Germany. Also read: Panic at 137 Bank Branches as RBI Limits Withdrawals to ₹1,000 Almost 60,000 Job […]

The post Massive Layoffs: Banks Cutting Nearly 60,000 Jobs Worldwide appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

Brazilian Banks Ordered to Reopen Cryptocurrency Exchange’s Frozen Accounts

Brazilian Cryptocurrency Exchange Wins Court Challenge as Banks Reopen Accounts to Avoid PenaltiesA Brazilian court has ordered the reopening of cryptocurrency exchange Bitcoin Max’s bank accounts, which were closed without explanation by Banco do Brasil and Banco Santander in September. The two banks have reportedly reactivated the accounts to avoid paying fines. Also Read: Kenya’s Bithub Africa Mines Bitcoin Using Solar Power Threat of Fine Forces Banco Do Brasil […]

The post Brazilian Banks Ordered to Reopen Cryptocurrency Exchange’s Frozen Accounts appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico

World’s Biggest Banks Helped Clients Steal $63 Billion in Taxes in Europe

World's Biggest Banks Help Clients Steal $63 Billion in Taxes in EuropeEurope’s top banks allegedly helped wealthy clients across the continent steal 55 billion euros ($63 billion) from multiple governments by making tax reclaims to which they were not entitled, an investigation has revealed. The theft centred around a complex scheme of trading stocks that also involved hedge funds and large international commercial law firms. Also […]

The post World’s Biggest Banks Helped Clients Steal $63 Billion in Taxes in Europe appeared first on Bitcoin News.

Go to Source

Powered by WPeMatico