Bank

The Worst Bank In The World Isn’t Technically A Bank

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  • Vivian Tu says that Starbucks is the worst bank in the world.
  • Although Starbucks isn’t technically a bank, it has $1.6 billion in outstanding gift card balances. That’s like an interest-free loan from its customers.
  • It also gets to keep a chunk of that money, as it had $196 million in unused gift card balances.

Some of the big banks definitely don’t have the best reputations. There are plenty out there that pay paltry interest rates and ding clients with costly...

https://mfame.guru/the-worst-bank-in-the-world-isnt-technically-a-bank/

Reasons For Ant Group suspended

  • A sudden, severe reduction in the intrinsic value of Ant’s business rendered the offering non-viable.
  • The de-valuation was not the result of a traditional business set-back.
  • It arose from a regulatory change that effectively re-categorized the company as a Bank.

What happened to Ant this month is looking more like an amputation says George Calhoun in an article published in Forbes.

What is Ant Group?

In June of this year, the company then known as Ant Financial Services changed its name, and...

https://mfame.guru/reasons-for-ant-group-suspended/