Jul 2, 2015

PayPal buys international money-sending service Xoom

Online payment titan PayPal said Wednesday it is buying international money-sending service Xoom in a deal valued at $890 million. PayPal, a subsidiary of eBay, will pay $25 per share of Xoom in what amounts to a premium of 32 percent over the stock’s ...

Jun 30, 2015

Greece may find it easier to close banks than reopen them

Capital controls imposed in Greece are likely to stay in place for months and its banks may need billions of euros of new capital or even face nationalization under a lengthy financial rebuilding, industry sources said. The decision to close the banks and impose ...

Jun 30, 2015

Tourists in Greece coping with bank holiday

Tourists on holiday in Greece offered advice to others Monday: bring extra euros. Several reported having some anxious moments over the weekend thanks to empty ATMs and merchants refusing credit cards, but the inconveniences eased as ATMs were replenished Monday. “We were finally able ...

Jun 29, 2015

Japan hopes AIIB will meet standards befitting an international body

The government said Monday it hopes the China-led Asian Infrastructure Investment Bank to be launched by the end of the year will meet governance and other standards appropriate to an international financial institution. Japan hopes that by meeting such standards, the bank “will play ...

Jun 29, 2015

Aozora Bank completes repayment of bubble-era bailout

Aozora Bank on Monday finished repaying the government for all the public money injected into its nationalized predecessor, Nippon Credit Bank, during Japan’s nonperforming loan crisis in the late 1990s, officials from the lender said. On Monday, Aozora paid back some ¥143.4 billion to ...

Jun 26, 2015

LDP endorses raising cap on private deposits at Japan Post Bank

The Liberal Democratic Party on Friday endorsed a proposal by a party panel to raise a limit on deposits at state-backed Japan Post Bank to ¥30 million per person from ¥10 million at present, party officials said. The party’s decision-making General Council approved the ...