The World Bank on Thursday said it is halting publication of its flagship report on business competitiveness to investigate data irregularities. Data about four countries—China, Azerbaijan, the United Arab Emirates and Saudi Arabia—appeared to have been inappropriately altered, according to a person with knowledge of the decision. The move renewed concerns first raised two years … Read more
WASHINGTON—Hackers tied to the North Korean government are trying to rob banks across the globe by draining ATMs and initiating fraudulent money transfers, in an effort by the cash-strapped Pyongyang regime to fund its nuclear weapons program, multiple federal government agencies warned Wednesday. The campaign includes so-called spearphishing attacks—which use fraudulent email to infect a … Read more
At beleaguered European banks, coronavirus is fast-tracking plans for fundamental restructuring after years of poor performance. Many of the region’s most prominent lenders are tearing up old business models, cutting business lines or doubling down on domestic markets as they try to find a formula that works for them. HSBC Holdings PLC is… Source link
FRANKFURT—European Central Bank officials signaled that they could roll out new monetary stimulus in the fall to shore up economic growth, as the region wrestles with rising unemployment and a possible wave of corporate bankruptcies. While ECB officials signaled relief that the 19-nation currency union had avoided an even deeper downturn, they warned of possible … Read more