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Regulators made proposals on Thursday to strengthen the ability of banks and payment firms in Britain to cope with major incidents and maintain key services with minimum interruption. The Bank of England and the Financial Conduct Authority have proposed that banks, insurers, investment firms, exchanges and financial market infrastructure (FMIs) firms like Visa that make payments possible, set "impact tolerances" for important services. Firms themselves would quantify the maximum level of disruption they would tolerate in terms of time, volume of business or number of customers affected.
While T-Mobile (TMUS) launches nationwide 5G network, Verizon (VZ) collaborates with Amazon's cloud computing arm, Amazon Web Services, for 5G edge computing.
General Motors Co .and South Korea's LG Chem said on Thursday they will invest $2.3 billion to set up an electric vehicle battery cell joint venture plant in Ohio, creating one of the world's largest battery facilities. The plant, to be built at a new site near GM's closed assembly plant in Lordstown in northeast Ohio, will employ more than 1,100 people, the companies said.
General Motors and South Korea’s LG Chem plan to invest a combined $2.3bn in a joint venture to build a new battery plant in the US, as the automaker prepares to ramp up production of electric vehicles. The companies announced on Thursday they will break ground in the middle of next year in the Lordstown area in north-east Ohio, near the location of a vehicle assembly plant GM has idled. GM chief executive Mary Barra, in a conference call with reporters, said the plant will “accelerate our ability to win in the electric vehicle space” and help the company make EVs more affordable.
Verizon (VZ) collaborates with Amazon Web Services to create an enhanced cloud computing technology for enterprise customers by deploying ultra-low latency applications at the edge of the 5G network.
Two fast-growing Chinese phone brands said on Tuesday that they will adopt Qualcomm Inc's newest 5G chip in their flagship devices early next year. Xiaomi Corp and Oppo said they will use Qualcomm's Snapdragon 865 chip in devices they plan to launch in the first quarter of next year. Xiaomi and Oppo, both based in China, were the fourth and fifth biggest smartphone sellers in the world in the third quarter, according to research firm IDC.
Wells Fargo Investment Institute (WFII) today released its "2020 Outlook: A Call for Resilience," which provides an in-depth analysis of economic and market forecasts, including commentary about the global economy, equities, fixed income, real assets, alternative investments and portfolio implementation actions.
FINNOSUMMIT -- NovoPayment, a Banking-as-a-Service platform category leader, and Visa Inc., the world’s leader in digital payments, today announced an expansion of their strategic partnership to enable financial institutions and merchants to deploy Visa’s digital solutions in Latin America and the Caribbean. Visa has also made a strategic investment in NovoPayment.
General Motors is teaming up with South Korea's LG Chem to build an electric vehicle battery factory in Ohio - which would be one of the biggest battery building facilities in the world. Plans for the joint venture were announced Thursday. The two companies will pile in more than $2 billion combined to set up the unit, which will be built near the site of a shuttered GM plant in Lordstown, Ohio. This joint venture is expected to put more than 1100 people to work. Sources familiar with the plan said those employees would likely be part of the United Auto Workers union, which would make this the first unionized battery factory in the United States. GM has come under fire from President Trump for closing factories and shedding jobs. And Democratic presidential candidates joined the picket line with union workers who went on strike demanding better wages and angry about the use of lower-paid contract employees. Like most automakers, GM is looking to bolster sales by investing heavily in electric vehicles and newer self-driving technologies. Construction is set to begin the middle of next year.