Computer & Technology

Indian Stocks Decline Tracking Global Peers After Fed Minutes

1 month ago Jaime E. Love

(Bloomberg) — Indian stocks fell, snapping a three-day gain, as a risk-off mood swept through global markets after Federal Reserve minutes fueled concern over the pace of recovery for the world’s largest economy.

The benchmark S&P BSE Sensex Index declined 1% to end at 38,220.39, after closing at its highest since March 3 on Wednesday. The NSE Nifty 50 Index fell 0.8%. The MSCI Asia Pacific Index was down 1.5%, led by a slump in technology shares.

Fed officials noted that the coronavirus pandemic would weigh heavily on economic activity, according to minutes of the central bank’s July meeting. Separately, India’s interest rate-setting panel turned cautious about a recent surge in consumer inflation, according to minutes of the Aug. 4-6 meeting published after close of trading Thursday.

Even so, the Sensex is up 1.6% so far this month, with foreign investors having bought a net $5.4 billion of local stocks

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China says US damaging global trade with Huawei sanctions

1 month ago Jaime E. Love

BEIJING (AP) — China accused Washington of damaging global trade with sanctions that threaten to cripple tech giant Huawei and said Tuesday it will protect Chinese companies but gave no indication of possible retaliation.

Rules confirmed Monday by the Commerce Department block suppliers from using U.S. technology to produce processor chips and other components for Huawei. The company, China’s first global tech competitor, is the biggest supplier of switching equipment for phone companies and a leading smartphone brand.

The foreign ministry demanded the Trump administration “stop suppressing Chinese companies.”

Huawei Technologies Ltd. is at the center of a worsening row between Washington and Beijing over technology and security. U.S. officials say Huawei is a security risk, which the company denies, and are lobbying European and other allies to avoid its technology as they upgrade to next-generation networks.

The United States is “violating international trade rules, and undermining the global industrial

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Global Payments Gains on Expanded Use of Electronic Payments

1 month ago Jaime E. Love

Global Payments Inc. GPN is set to grow in the long run on the back of increased global consumption and an uptrend in electronic payments as well as integrated payments.

The company’s intensified focus on strengthening its software-driven payments makes it stand out in the industry. Ongoing investments in technology led to the transition in the company’s business mix toward technology enablement, which is expected to represent 60% of its revenues (up from 30% in 2015) and fuel significant growth by the end of 2020 with a balanced portfolio across owned SaS, partnered software, and e-commerce and omnichannel assets.

The acquisitions of APT in 2012, PayPros in 2014 and Heartland in 2016 also expanded the company’s technology platform. Its open software arm was further extended by the buyouts of AdvancedMD and SICOM. Global Payments’ robust technology solutions will continue to set its class apart in the marketplace and position it

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U.S. global media agency demanded outlets return money for internet freedom projects

1 month ago Jaime E. Love

The U.S. Agency for Global Media has asked three of its outlets to return more than $3 million they were allocated to help people in countries like China and Iran access impartial online news without their government’s knowledge, according to an agency official familiar with the matter.

The official said Middle East Broadcasting Networks, Radio Free Asia and Radio Free Europe, were told to return the so-called internet freedom money to USAGM. In Radio Free Asia’s case, that money was supposed to go to the Open Technology Fund, a digital rights non-profit financed by taxpayers.

It’s the latest example of how the Trump administration is trying to revamp the agency, which oversees taxpayer-funded media properties, and which the administration says has strayed too far from its mission of representing the U.S. abroad. New CEO Michael Pack has tried to dramatically reshape the agency by firing outlet heads and other senior

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Global trade in services ‘set to surge by $2 trillion’ by 2025

2 months ago Jaime E. Love
City of London
City of London

More countries adopting technology and switching to remote working after the Covid-19 pandemic will drive a $2 trillion (£1.5 trillion) surge in trade in services over the next five years, according to new analysis.

Oxford Economics and Western Union modelled what effect coronavirus will have on cross-border trade, projecting that international trade in services will rise 31pc from $6.1 trillion last year to $8 trillion by 2025.

The US, France and the UK are set to see the largest increases in the value of cross-border trade in services over the next five years, the study said. In Britain, total services exports are expected to jump by $104bn, primarily driven by a boom in “digitally-deliverable services”, such as IT and financial services. 

Already in the UK, services are a dominant part of the economy, thanks to the country’s role as a leading financial and business services hub.

However,

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Technology Is Changing The Way Freight Brokerages Operate

2 months ago Jaime E. Love

Digital brokerages have dominated headlines in recent years, but some old standbys continue to perform. And for some of them, like XPO Logistics (NYSE: XPO), the idea that digital brokerages represent a new way of moving freight masks the fact that many traditional brokerages have remained at the cutting edge, and even in the lead, of the digital revolution.

“We don’t think of ourselves as an incumbent broker,” Lou Amo, president of Freight Brokerage and Expedite at XPO Logistics, told FreightWaves. “We like to think of ourselves as one of the first digital brokers.”

Amo, who joined XPO in 2012 as vice president of brokerage operations, said the company has invested in technology “since day one.” Technologies such as XPO Connect and Drive XPO are just the latest iterations of technological achievement for the company as it strives to continue its leadership position among global brokerages (XPO is

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