Russian Banks Blocked From Visa and Mastercard Networks Following Sanctions
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Russian Banks Blocked From Visa and Mastercard Networks Following Sanctions
Russian Banks Blocked From, Visa and Mastercard, Networks Following Sanctions.
CNBC reports that both Visa and Mastercard have blocked financial institutions from their networks in response to Russia's invasion of Ukraine.
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CNBC reports that both Visa and Mastercard have blocked financial institutions from their networks in response to Russia's invasion of Ukraine.
.
Since the invasion began, the U.S. and other global
leaders have imposed sanctions aimed at shutting
Moscow out of the global financial system.
.
Since the invasion began, the U.S. and other global
leaders have imposed sanctions aimed at shutting
Moscow out of the global financial system.
.
According to CNBC, those sanctions effectively
blocked U.S. companies and individuals from
doing business with any entity on the sanctions list.
.
On February 28,
the U.S. imposed additional
sanctions on Russia's central bank.
.
The same day, Mastercard announced
that it had blocked several Russian financial
institutions from its payment network.
.
Mastercard did not name any blocked
companies or individuals by name.
.
We will continue to work
with regulators in the days
ahead to abide fully by our
compliance obligations
as they evolve, Mastercard statement, via CNBC.
On March 1, Visa followed suit and released
a statement saying that the company
had blocked those on the U.S. sanctions list.
.
CNBC reports that both of the competing
credit giants also pledged $2 million toward
humanitarian relief funds for besieged Ukraine.
.
On February 26, the U.S., Canada and European
allies vowed to remove Russian banks
from the interbank messaging system, SWIFT.
.
The broad range of sanctions have resulted
in the Russian ruble plunging in value.
Judge Blocks $30 Billion , Visa, Mastercard , âSwipe Feeâ Settlement.
Federal Judge Margo Brodie rejected the $30 billion antitrust settlement on June 25, 'The Hill' reports. .
In March, Visa and Mastercard agreed
to limit interchange fees that retailers
who accept their cards are charged. .
The companies said they would reduce swipe fees for at least three years by a minimum of 4 basis points.
They also agreed to "cap their fees at 2023 levels
for the next five years," 'The Hill' reports. .
Retail industry groups criticized the proposed settlement since it would only provide temporary relief to a larger problem. .
Thankfully, the judge made the right
call in recognizing what a bad deal
this would have been for Main Street
merchants and their customers. , Christopher Jones, member of the executive committee
of the Merchants Payments Coalition (MPC), via 'The Hill'.
Itâs extremely unusual for a judge to
reject a settlement at the preliminary
stage, so this shows how far Visa and
Mastercardâs proposal missed the mark, Christopher Jones, member of the executive committee
of the Merchants Payments Coalition (MPC), via 'The Hill'.
The average swipe fee that retailers
pay is 2.24%, but it can go up to 4%,
according to the National Retail Federation.
The credit card payment market
has been broken for decades. , The Retail Industry Leaders Association, via 'The Hill'.
Leading retailers are grateful that
Judge Brodie saw through the facade
of the proposed settlement.., The Retail Industry Leaders Association, via 'The Hill'.
... and understood that it would not
provide the meaningful change that is
needed to correct the competitive
imbalance in the interchange ecosystem, The Retail Industry Leaders Association, via 'The Hill'.
Retailers have also called on lawmakers to pass the Credit Card Competition Act.
Supporters claim that the bill would break
up Visa and Mastercard's dominance
and allow for more competition
Credit: Wibbitz Top Stories Duration: 01:31Published
In this episode of The Big Question, Mastercard CEO, Michael Miebach, shares his view on the future of payments and whether Europe is prepared for AI cyber threats.
Credit: euronews (in English) Duration: 11:53Published
Walgreens Plans , âSignificantâ Store Closures.
On June 27, Walgreens announced quarterly earnings
that were poorer than expected, NBC News reports.
The company's stock fell 15% in pre-market trading.
CEO Tim Wentworth issued a press release.
We continue to face a difficult operating
environment, including persistent
pressures on the U.S. consumer and the
impact of recent marketplace dynamics
which have eroded pharmacy margins, Tim Wentworth, Walgreens CEO, via press release.
Our results and outlook
reflect these headwinds, Tim Wentworth, Walgreens CEO, via press release.
Wentworth elaborated in an interview with CNBC.
The consumer is absolutely stunned by
the absolute prices of things, and the
fact that some of them may not be
inflating doesnât actually change their
resistance to the current pricing, Tim Wentworth, Walgreens CEO, via CNBC.
On a call with analysts, Wentworth said that Walgreens' strategy will have to "include the closure of a significant portion of these underperforming stores.".
75% of our stores drive 100% of our
profitability today. What that means is
the others we take a hard look at, we are
going to finalize a number that we will close, Tim Wentworth, Walgreens CEO, via call with analysts.
The pharmacy chain currently
operates about 8,600 stores
Credit: Wibbitz Top Stories Duration: 01:30Published
US Water System May Be , Vulnerable to Cyberattack, by China, Russia and Iran.
CNBC reports that the United States
water system has been the target of a series
of cyberattacks over the past few years. .
In response, the Environmental Protection Agency
(EPA) has been forced to issue an alert warning
that 70% of water systems do not comply
with the Safe Drinking Water Act.
According to the EPA, some have âalarming
cybersecurity vulnerabilities,â including
unchanged default passwords and former
employees who retain access to vital systems.
In February, the FBI issued a warning to
Congress that Chinese hackers have embedded
themselves into the U.S. cyber infrastructure. .
Those hackers have targeted water treatment
plants, the electrical grid, transportation
systems and other vital infrastructure.
Those hackers have targeted water treatment
plants, the electrical grid, transportation
systems and other vital infrastructure.
Water is among
the least mature
in terms of security, Adam Isles, head of cybersecurity
practice for Chertoff Group, via CNBC.
Stuart Madnick, an MIT professor of engineering
systems and co-founder of Cybersecurity at
MIT Sloan, warns that an attack that shuts off
water to the population is the main concern.
We have demonstrated in our
lab how operations, such as
a water plant, could be shut
down not just for hours or
days, but for weeks, Adam Isles, head of cybersecurity
practice for Chertoff Group, via CNBC.
Recently, EPA Administrator Michael Regan and
National Security Adviser Jake Sullivan sent a letter
to governors stressing the urgency of the threat. .
Recently, EPA Administrator Michael Regan and
National Security Adviser Jake Sullivan sent a letter
to governors stressing the urgency of the threat. .
CNBC reports that budgets, outdated
infrastructure and an overall reluctance to take
action may prevent necessary fixes from
being made before a serious attack.
Credit: Wibbitz Top Stories Duration: 01:31Published
European Union Announces , Higher Tariffs on Chinese EVs.
On June 12, the EU said it will
impose higher tariffs on imports of
Chinese electric vehicles (EVs), CNBC reports. .
The increase in tariffs is the result of a
probe launched by the EU in October.
According to the EU, the Chinese imports benefit "heavily from unfair subsidies" and threaten "economic injury" to European EV producers.
The influx of subsidized Chinese imports
at artificially low prices therefore
presents a threat of clearly foreseeable
and imminent injury to EU industry, European Commission, via statement.
A 38.1% tariff will be imposed on battery electric vehicle producers who refused to cooperate with the bloc's investigation.
A 21% tariff will be implemented for carmakers in China who complied
but have yet to be "sampled.".
On June 11, a spokesperson for China's Ministry of Commerce called the higher
tariffs a "protectionist act.".
The findings disclosed in the EU
ruling lack factual and legal basis, Spokesperson for China's Ministry of Commerce, via statement.
This is a naked protectionist act,
creating and escalating trade
frictions, and 'destroying fair
competition' in the name of
'maintaining fair competition.' , Spokesperson for China's Ministry of Commerce, via statement.
This move by the EU not only damages the
legitimate rights and interests of Chinaâs
electric vehicle industry, but will also disrupt
and distort the global automotive industry
chain supply chain, including the EU, Spokesperson for China's Ministry of Commerce, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk Drops Lawsuit , Against OpenAI.
In February of this year, Musk filed a lawsuit against OpenAI and two of its co-founders, Sam Altman and Greg Brockman.
In February of this year, Musk filed a lawsuit against OpenAI and two of its co-founders, Sam Altman and Greg Brockman.
In February of this year, Musk filed a lawsuit against OpenAI and two of its co-founders, Sam Altman and Greg Brockman.
The suit alleged that OpenAI initially worked
to develop artificial general intelligence
"for the benefit of humanity" but later strayed
from that goal to become a for-profit entity. .
Musk, who had a hand in launching
OpenAI, was suing "for breach of contract
and fiduciary duty," CNBC reports.
In March, experts told CNBC that the suit had a murky legal foundation because there was no formal written agreement signed by each party.
On June 11, Musk dropped the lawsuit.
It was dismissed without prejudice.
His decision to drop the lawsuit comes
one day after he threatened Apple over
its new partnership with OpenAI.
His decision to drop the lawsuit comes
one day after he threatened Apple over
its new partnership with OpenAI.
He called the partnership "an unacceptable security violation" since Apple has
"no clue what's actually going on.".
Itâs patently absurd that Apple isnât
smart enough to make their own
AI, yet is somehow capable of
ensuring that OpenAI will protect
your security & privacy!, Elon Musk, via X.
Musk went on to say that if Apple
"integrates OpenAI at the OS level," the company's devices will be banned at his businesses.
Credit: Wibbitz Top Stories Duration: 01:31Published
Apple Is Reportedly Building , a Dedicated Passwords App.
On June 6, Mark Gurman from 'Bloomberg' reported that Apple intends to build next-gen iPhones and Macs with a built-in password management app.
On June 6, Mark Gurman from 'Bloomberg' reported that Apple intends to build next-gen iPhones and Macs with a built-in password management app.
The new app will be called Passwords, Engadget reports.
The app will be revealed at the
Worldwide Developers Conference in June.
While Apple already offers password
services via the iCloud Keychain.
it can be tedious to find
or change passwords with it.
A dedicated passwords app would make the whole process easier and likely encourage some people to stick with Apple.
Similarly to subscription password managers 1Password and LastPass, Apple's app will
split passwords into categories.
Similarly to subscription password managers 1Password and LastPass, Apple's app will
split passwords into categories.
Such categories include "accounts, WiFi networks and Passkeys," CNBC reports. .
Users will be able to
import passwords from other apps.
Two-factor verification codes
will also be supported.
It's not clear if Passwords will let you
store files and images as its rivals do.
Credit: Wibbitz Top Stories Duration: 01:30Published
The Russian military has destroyed a Ukrainian warehouse in Donbass, which allegedly stored several multiple launch rocket systems and more than a dozen armored vehicles, the Defense Ministry in Moscow has claimed. Officials also released an video of the alleged strike. In a statement on Friday, the ministry said that Moscowâs forces used an Iskander-M short-range ballistic missile to strike the facility in the key regional hub of Kramatorsk, currently occupied by Ukraine, where artillery of Ukraineâs 56th separate motorized infantry brigade was stored.
#Russia #Russia-Ukraine #battlefieldvideos #Russia-Ukraineconflict #Ukraine #oneindia #oneindianews
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Flood waters were rising in two cities in Russia's Ural mountains on Sunday after Europe's third-longest river burst through a dam, flooding at least 10,000 homes and forcing thousands of people to flee with just their pets and a few belongings.Some of the worst floods in decades have hit a string of Russian regions in the Ural Mountains and Siberia, alongside parts of neighbouring Kazakhstan in recent days.
#russia #russiaukrainewar #zelenskyy #putin #orsk #orenburg #SOUTHERNURALS #Ukriane, #Russia, #Putin, #Putler, #Russian invasion of Ukraine, #Zelenski, #Kiev, #Kyiv, #Kadirov army, #Kadirov, #Kherson, #Bucha, #Kharkiv, #Ukrainian pilots, #vagners, #Russian tanks, #NATO, #drones, #Moscow, #Kreml, #war victims #Ukraina,
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Prime Minister Modi is reportedly planning to visit Ukraine in August, potentially meeting President Zelenskyy in Kyiv. This visit, following Modi's recent trip to Russia, highlights India's balanced foreign policy approach. Ukraine views India as a potential mediator in the ongoing conflict. The visit, if materialized, could strengthen India's diplomatic role and provide an opportunity for direct discussions on peace efforts, while also exploring enhanced bilateral economic cooperation.
#PMModi #Zelensky #VolodymyrZelensky #PMModinews #RussiaIndia #Ukraineindia #IndiaUkraine #ZelenskyModi #RussiaUkrainewarlive #Ukrainewar #worldnews #Oneindia# #Oneindianews
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This edition of our weekly talkshow focuses on Kamala Harris upending the US presidential campaign, the situation in Ukraine and the start of the Paris Olympics.
Credit: euronews (in English) Duration: 32:34Published
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