Monthly Archives: September 2022

Using your iPhone to pay for things just got a whole lot easier

Paying for items using your iPhone could soon be much smoother thanks to an announcement from Square. The payment provider has officially launched its Tap to Pay on iPhone service, which will allow merchants and sellers of all sizes accept contactless mobile payments directly from their iPhone. There’s no need for any additional hardware, either…

TikTok Commerce 2022 Report Preview

TikTok’s powerful algorithm and cultural relevance has made it the go-to platform for emerging shopping trends. To succeed on TikTok, brands must craft their social commerce strategies around creating content that’s designed for entertaining first and shopping second. Insider Intelligence’s TikTok Commerce 2022 Report details social shopping behaviors on TikTok, the importance of creators in…

China tells state banks to prepare for a massive dollar dump and yuan buying spree as Beijing’s prior interventions have failed to stem its currency’s worst year since 1994

Chinese President Xi Jinping. Kevin Frayer/Getty Images Reuters reported that China told state-owned banks to get ready to sell dollars and buy yuan in an effort to prop up the local currency.  The move could stem the yuan’s fall, as it remains on track for its largest annual loss against the dollar since 1994.  A…

UK prime minister says pound’s slump is due to fallout from Russia-Ukraine war as she defends tax cuts in aftermath of market turmoil

Lord Chancellor Liz Truss. Reuters UK prime minister Liz Truss defended the plan to cut taxes after the plan caused chaos in markets.  She blamed the pound’s slump on the fallout from Russia-Ukraine war.  “Currencies are under pressure around the world,” Truss said. UK prime minister Liz Truss said the pound’s slump last week was…

Mohamed El-Erian says the relentless rise in yields is driving the direction of stocks and markets desperately need stabilization

Mohamed El-Erian, chief economic adviser at Allianz SE. Rob Kim/Getty Images The spike in Treasury yields is holding sway over other markets, Mohamed El-Erian said Wednesday.  “Yields are in the driver’s seat and in the backseat of stocks and now FX,” he said.  The 2-year and 10-year Treasury yields hit multi-year highs this week.  The…

Fox News owner Rupert Murdoch shared his succession plans for his media empire with Donald Trump, book says

US President Donald Trump (L) is embraced by Rupert Murdoch at a dinner in New York in 2017. Brendan Smialowski/Getty Images Fox News owner Rupert Murdoch attended a 2017 meeting with Donald Trump, a new book says.  At the meeting, Murdoch shared his succession plans, says the book by Maggie Haberman.  Trump’s closeness with key…