Apple Pay, one year later: Why mobile payments have failed to catch on as we’re still looking for something better December 17, 2015 Mobile payments became a hot topic just about the time when first iPhone was introduced by Steve Jobs in 2007. Back then experts in payment, retail, telecommunication, and banking industries started thinking about a smartphone as a viable alternative to physical wallets suggesting many different technologies, but no one knew how exactly the winner was [...]
Low-income commodity exporters will have a tough 2016, warns the IMF December 17, 2015 Low-income commodity-exporting countries face a struggle next year, the International Monetary Fund has warned. Commodity price falls this year have dented the growth of many low-income developing countries (LIDCs), and the IMF said the significant slowing of growth will carry over into 2016. The IMF said weak trade and worsening government finances underscored “the need [...]
Jeff Williams promoted to Apple’s chief operating officer, Phil Schiller to head App Store, Grey’s Tor Myhren hired for marketing and communications in rare management rejig December 17, 2015 Jeff Williams has been named Apple's new chief operating officer, in a rare reshuffle of the tech company's senior team. “We are fortunate to have incredible depth and breadth of talent across Apple’s executive team. As we come to the end of the year, we’re recognising the contributions already being made by two key executives,” said [...]
The Bakerloo line extension to Old Kent Road, New Cross Gate and Lewisham just came a step closer December 17, 2015 The Tube's about to go (further) south of the river, after Transport for London (TfL) came a step closer to getting the go-ahead for an extension of the Bakerloo line, which will extend to Old Kent Road and Lewisham. In a statement today, TfL said it will begin "detailed technical work" next year, to "build a case" for the [...]
IMF chief Christine Lagarde ordered to face trial over Bernard Tapie affair December 17, 2015 International Monetary Fund (IMF) chief executive Christine Lagarde has been ordered by a French court to face trial for alleged negligence over her handling of a controversial €400m payout to French business tycoon Bernard Tapie during her time as finance minister. The case will be heard by France’s Court of Justice of the Republic, a court spokesperson confirmed, although [...]
What will happen to the gold market in 2016? Effects of the Fed rate hike and pro-gold policies in emerging markets December 17, 2015 For the first time in almost nine years the United States Federal Reserve raised interest rates by 0.25 percentage points. This signalled the end of a fascinating year for the gold market, which saw strong demand from central banks, Asian consumers and a buoyant global bar and coin market, which is more than double its [...]
Eurozone construction rebounds in October December 17, 2015 Construction in the Eurozone bounced back in October, according to new figures published this morning, but the sector is struggling to pick up momentum. The currency-bloc’s construction output climbed 0.5 per cent in October compared with the month before. The monthly gain took year-on-year growth to 1.1 per cent. It also marks a rebound from [...]
Christmas came early: Here are all of the gifts foreign leaders gave Prime Minister David Cameron this year December 17, 2015 Two rugs, alcohol, a glass art platter and bronze coins: these are just some of the presents Prime Minister David Cameron has received from foreign leaders this year. Government papers published today reveal that Cameron received more than a dozen gifts from foreign leaders between April and September of this year. Too bad he can't [...]