Page 22 - M 2cs News Today

South Korean financial services app Kakao Pay Corp more than doubled in its trading debut on Wednesday, zooming ahead of the country's established finance companies in value, as investors were enticed by its growth prospects.

China will strengthen personal protections in the financial technology sector to curb unauthorised data collection and abuses, the country's central bank chief said on Wednesday.

British finance minister Rishi Sunak pledged on Wednesday to "rewire" the global financial system for net zero, saying London will also commit 100 million pounds ($136.19 million) to make climate finance more accessible to developing countries.

Myanmar's ruling military on Wednesday stood by its decision to deny a Southeast Asian envoy access to detained former leader Aung San Suu Kyi, resisting growing international pressure to comply with a regional peace plan agreed in April.

The Sudanese prime minister ousted in an army coup last week wants detainees released and governing bodies restored before he will enter into any dialogue, his office said on Wednesday, denying a report he had agreed to lead a new government.

Italy's Banca Ifis said on Wednesday that it had bought 2.8 billion euros ($3.24 billion) of unsecured loans from U.S. financial investor Cerberus, its biggest-ever acquisition of non-performing loans (NPLs).

The "socio-environmental" damage brought about by the 2015 rupture of a tailings dam in Brazil owned by miner Samarco is between 37.6 billion reais ($6.73 billion) and 60.6 billion reais, according to a study done by a company contracted by prosecutors to measure the costs of the disaster.

Federal Reserve Chair Jerome Powell on Wednesday said it is possible the U.S. job market may have improved enough by the middle of next year to be considered at "maximum employment," a key hurdle to clear for the central bank to consider increasing interest rates.

French health authorities reported 10,050 daily new COVID-19 infections on Wednesday, the first time the tally has topped 10,000 since Sept 14.

U.S. President Joe Biden said on Wednesday in reaction to Democratic election loss in Virginia that "people are upset and uncertain about a lot of things" and that he will push ahead with his legislative agenda.