The unbanked share of U.S. households fell to 4.2% last year, the regulator said in its biennial survey. But racial disparity persists: 32.3% of unbanked households are Black and 33.4% are Hispanic. The proportion of unbanked households in the U.S. continued to decline last year, to 4.2%, or 5.6 million households, according to the Federal […]
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, has successfully closed a $400 million Shariah-compliant Commodity Murabaha facility, marking its strategic return to the Islamic finance market for the first time in eight years. This milestone reflects AFC’s commitment to diversifying funding sources while expanding access to ethical and sustainable financing to meet […]
X Transfer, a cross-border trade payment platform, and Ecobank Group, a pan-African financial services provider, have signed a Memorandum of Understanding (MOU) to roll out comprehensive cross-border financial services to Africa’s small and medium-sized enterprises (SMEs) engaged in foreign trade. The collaboration will facilitate trade between China and African countries. In recent years, China and […]
ACLEDA, pronounced “A-C-Leda”, is short for the “Association of Cambodian Local Economic Development Agencies.” It hearkens back to the bank’s roots as a development NGO, set up in the immediate aftermath of Cambodia’s civil war in 1993. Even after becoming a full-fledged commercial bank in 2003, ACLEDA, one of just two Cambodian companies on Fortune’s Southeast […]
Carlsberg had an action-packed 2024. It acquired U.K.-based Britvic, creating a new entity that subsumes Carlsberg Marston’s Brewing Company business. The Danish company also got rid of its Russian operation after it was taken under state control in 2023. Alcohol-free brews are Carlsberg’s fastest-growing segment, up 6% last year. Other consumers also gravitated to expensive […]
The former interpreter for baseball star Shohei Ohtani was sentenced Thursday to nearly five years in prison for bank and tax fraud after he stole nearly $17 million from the Los Angeles Dodgers player’s bank account. Ippei Mizuhara, who was supposed to bridge the gap between the Japanese athlete and his English-speaking teammates and fans, was sentenced in […]
Twenty-two states sued New York on Thursday, contending that a new law forcing a small group of major energy producers to pay $75 billion into a fund to cover climate change damage is unconstitutional The lawsuit, filed in Albany, lists state Attorney General Letitia James and other officials as defendants. According to a statement, West Virginia Attorney General […]
an official who has planned the zealous expansion of President Donald Trump’s power into one of the most influential positions in the federal government. Vought was confirmed on a party-line vote of 53-47. With the Senate chamber full, Democrats repeatedly tried to speak as they cast their “no” votes to give their reasons for voting against […]
BERLIN — Prime Minister Fumio Kishida and German Chancellor Olaf Scholz met in Berlin on Friday and agreed to establish a new bilateral framework for consultations on economic security. The move is aimed to counter economic coercion, putting pressure on partner countries through trade restrictions and other measures, with China in mind. At a joint […]