The details of the project, named Cache, were first reported by the Wall Street Journal and follow moves by tech heavyweights Apple Inc ( AAPL.O ) and Facebook Inc ( FB.O ) into the financial industry this year.
Facebook’s plan to launch its Libra cryptocurrency has met with skepticism from regulators, worried about the risk of money laundering and the security of transactions and user data.But there are also broader concerns about how the big tech companies’ will use their massive digital influence in other areas of business and economic infrastructure. “Our approach is going to be to partner deeply with banks and the financial system,” Caesar Sengupta, general manager and vice-president of payments at Google, told the Journal in an interview.
Nigel Farage’s Brexit Party pulled out of 317 Conservative-held seats in a bid to prevent opponents of Brexit controlling the next parliament. Source: England (Reuters) The move dramatically increases the chances that Johnson will stay prime minister, and then finally deliver on the 2016 referendum result to take Britain out of the European Union. Farage said Brexit was in peril, so he would focus his party’s efforts at unseating opponents of leaving the EU - primarily in seats held by the Labour Party and the Liberal Democrats. A week ago, Farage had promised to field 600 candidates unless Johnson went for a “no-deal” Brexit. But on Monday, he said his party will now “concentrate our total effort into all of the seats that are held by the Labour Party, who have completely broken their manifesto in 2017,” he said.