The world's richest man, Elon Musk, has issued a stark warning on America's growing debt burden, saying the country faces financial collapse without a major boost to economic growth.

Musk Warns of US Bankruptcy Without AI

It sounds like a scene from a Hollywood blockbuster. But police say this one was all too real. In what investigators are comparing to the film Ocean’s Eleven, a highly organised gang drilled its way into the vault of a german savings bank in Gelsenkirchen escaping with cash, gold and jewellery worth an estimated 35 million dollars.

German bank vault hit in Ocean's Eleven-style heist in Gelsenkirchen 

In western Germany, thieves took advantage of the Christmas lull to pull off a major heist at a retail bank. They drilled into a vault and emptied thousands of safe deposit boxes. Police say the haul is worth around 30 million euros (about $35 million) and includes valuables from customer deposit boxes.


Germany bank heist: Thieves drill into vault, loot $35 million 

The economic offences wing of the Mumbai police has arrested Hitesh Mehta, the former general manager and head of accounts at New India Cooperative Bank, in a 122 crore rupees embezzlement case. The arrest comes just days after the Reserve Bank of India imposed strict restrictions on the bank over financial irregularities.

New India cooperative bank under RBI lens

Just as stock market issuance started to slow down ahead of the US Election, Boeing's capital issue of more than 20 billion dollars gave four banks a sizable payout.

Boeing's Share Sale Gives Banks Hefty Fees

Chinese central banker Pan Gongsheng unleashed one of china's most daring policy campaigns in decades. However, economists say the adrenaline shot is only buying china a little time. Economists believe the stimulus blitz is just a down payment. They say, in addition to the latest measures, china needs reforms to reconfigure the economy and unleash consumption growth fundamentally.

Economists: China's Stimulus Buys More Time Only

India is reportedly in talks with several countries across Africa and South America to help them build digital payment systems modelled after unified payments interface, or, upi. The national payments corporation of India’s international arm, npci international payments limited, is leading the effort.

India Drives Global Digital Payment Revolution

Japan began circulating its first new banknotes in 20 years on Wednesday (July 3), featuring three-dimensional portraits of the founders of financial institutions and a women's university in an attempt to frustrate counterfeiters.

Japan renews its banknotes for the first time in 20 years

US regulators may cut bank capital hikes

Brazil woman wheels in corpse of an elderly man into bank to 'sign' for a loan

The Japanese yen has been weakening against the US Dollar recently. But the country's top currency diplomat says the yen's weakness does not reflect the fundamentals. Speaking to reporters, Masato Kanda, the vice finance minister for international affairs, said: "It (fluctuations) has not reflected fundamentals and I feel something strange about it."

Kanda: Yen's weakness does not reflect the fundamentals

Over the weekend, Ethiopia’s biggest commercial bank witnessed a “systems glitch” which allowed customers to withdraw millions. The bank has since released a statement saying that there was no cyber attack and its security has not been compromised as it scrambles to recoup the large sums of money withdrawn.

Ethiopian bank glitch lets customers withdraw millions

The global economy is all set to record a crucial turning point soon. We are talking about Bank of Japan exiting the negative interest rates cycle after 8 years.

Bank of Japan to exit negative rates cycle after eight years

Paytm payments bank is in deep trouble. India's financial intelligence unit has imposed a penalty of $662,565 on Paytm's payments bank for alleged money laundering, India's finance ministry said.

Paytm payments bank fined for money laundering

The debate about companies asking employees to get into the office more often continues. The latest is the backlash to Deutsche Bank's move to compel staff into the office more often. That decision has drawn internal opposition, showing the difficulty of reversing a COVID-19 pandemic policy.

Return-to-office push sparks employee backlash

Paytm bank's crisis continues, with an industry body asking merchants to look beyond the digital banking giant for online transactions. This comes after the reserve bank of India ordered a halt to most operations of Paytm's banking arm. Watch to know more!

Paytm Bank's Crisis: Supervisory concerns lead to RBI crackdown on Paytm Payment's bank

Paytm Bank's Crisis: Traders urged to ditch Paytm in wake of RBI's decision

Paytm Payments Bank's digital wallet business may not be able to operate after Feb. 29 unless India's central bank approves a transfer of its licence to parent group One 97 Communications (PAYT.NS), opens new tab, two sources directly familiar with the matter said.

Regulatory storm hits Paytm, RBI restrictions prompt industry shift

India's Central Bank has dropped the hammer on Paytm Payments Bank. In a move prompted by supervisory concerns, the central bank has imposed stringent restrictions on the digital banking giant. This means Paytm can no longer accept new deposits, credit transactions, or top-ups in any accounts after February 29th.

Paytm Payments Bank in limbo: India's RBI hits Paytm Payments Bank

A former senior official at the People’s Bank of China has been sentenced to more than 16 years in prison for taking bribes and leaking state secrets, Caixin reported.

Former China central bank official jailed for 16 years for graft

Retail sales in the UK have been falling. In October 2023, sales fell by 0.3%, which is the lowest level since February 2021. This was due to rising living costs, poor weather, high borrowing costs, and rising prices.

Retail sale take a plunge in UK

There's one specific area where countries are finding a common ground to cooperate & collaborate. And that's the booming world of artificial intelligence, which poses opportunities as well as risks.

China to collaborate with US, EU on AI

The European Central Bank, or ECB, is turning to artificial intelligence to revolutionize its understanding of inflation. Utilizing AI's data-processing prowess, the ECB seeks to analyze vast datasets, including public price information, corporate statistics, news articles, and bank supervisory documents.

ECB turns to AI for inflation insights & transparency

China: Central bank's former deputy governor faces prosecution for bribery charges

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