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 ...

Bernanke: Dump Jackson, not Hamilton, on dollar bills

Jun 23, 2015

Bernanke: Dump Jackson, not Hamilton, on dollar bills

Former Federal Reserve chief-turned blogger Ben Bernanke is calling for the U.S. Treasury to abandon plans to drop Andrew Hamilton from his featured spot on the $10 bill and to dump Andrew Jackson from the $20 instead. Bernanke wrote Monday that he is “appalled” ...

Jun 18, 2015

BTMU to issue first yuan bond in Japan

The Bank of Tokyo-Mitsubishi UFJ Ltd. next week will issue Japan’s first bond denominated in China’s currency, company sources said Thursday, reflecting the recent thaw in bilateral relations. Targeting qualified corporate investors, the main lending unit of Japan’s biggest banking group is set to ...

Jun 18, 2015

U.S. to put woman on new $10 bill

The U.S. will put the image of a woman on an American banknote for the first time in over a century, breaking the lock that white male political heroes have on the greenback. The U.S. Treasury announced Thursday that a yet-unchosen woman, likely “a ...

Count the zeroes: Zimbabwe allows old bank note exchange

Jun 13, 2015

Count the zeroes: Zimbabwe allows old bank note exchange

Zimbabwe’s central bank says bank notes from its old currency, which collapsed and was discarded years ago because of runaway inflation, can be exchanged for American dollars. But 100 trillion Zimbabwean dollars will fetch only 40 U.S. cents. That’s a fraction of what collectors ...

May 7, 2015

Ruble conquering east Ukraine

As a wobbly cease-fire keeps eastern Ukraine’s warring factions apart, Russia’s ruble is conquering new territory across the breakaway republics. In Donetsk, the conflict zone’s biggest city, supermarkets have opened ruble-only checkout counters to serve the fighters in camouflage lining up along pensioners. Bus ...

Mice, smog and MPs: U.K. parliament faces urgent repairs

Mar 9, 2015

Mice, smog and MPs: U.K. parliament faces urgent repairs

Behind the neo-Gothic splendor of Big Ben, Britain’s Houses of Parliament is crumbling and overrun with mice, prompting its top official to warn the building may have to be “abandoned” without urgent renovations. Leaking roofs mean members of parliament have to use waste paper ...