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Winging It While live mackerel and rigged squid entice a bite, rigged flying fish prove most effective when kite-fishing for Pacific bluefins. Features Wings splayed wide with a wooden skewer, a rigged flying fish glides across the surface like a zombie returning from the dead as captains Barry Brightenburg and Brandon Nelson sail it from a kite - buoyed by a helium-filled balloon - over Southern California's fabled Cortes Bank. RIGGING A FLYING FISH Proper rigging of flying fish lies at the heart of the kite-fishing technique for tuna. [Extracted from the article]

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Mastercard and MetaMask are collaborating to test a new blockchain card that aims to be the world's first decentralized payment system for Web3. This card will allow users to spend their cryptocurrency assets on regular purchases where Mastercard is accepted, simplifying the process of using bitcoin in everyday life. While details on converting cryptocurrency to fiat money have not been revealed, this collaboration has the potential to increase the convenience and appeal of cryptocurrency for daily users, making it more widely accepted and applicable in everyday life. Mastercard is a global payment system that offers credit, debit, and prepaid cards, and provides technological solutions for financial organizations. [Extracted from the article]

Singapore-based remittance firm Samlit Moneychanger is under investigation for suspected fraudulent trading. The director and compliance manager of the company are being probed by the Monetary Authority of Singapore and the city-state's police. Samlit had previously been sued by clients after money they had sent home from Singapore was frozen by Chinese police. The firm had informed the regulator of its intention to surrender its payments services license and cease operations. The MAS has taken steps to secure the funds in Samlit's corporate bank accounts to meet its remittance obligations. [Extracted from the article]

Independent ATM operators have taken hits on multiple fronts the past years. With falling cash withdrawals, customer resistance to fees and acquisitions, there are many pressures on IADs. What does the future hold for these operators? [ABSTRACT FROM AUTHOR]

Element Capital Management, led by Jeff Talpins, is downsizing and plans to primarily manage its own capital rather than relying on outside investors. The New York-based firm will return an undisclosed amount of money to investors in order to manage lower assets and aim for higher returns. This move comes after the fund experienced losses in recent years but gained 5.3% in January. Talpins has been a highly regarded macro trader in the hedge fund industry and has previously implemented strategies to avoid becoming too large to navigate the markets. Other prominent hedge fund managers have also shifted their focus to managing their own money in recent years. [Extracted from the article]

The use of cash for purchases in Australia has significantly declined, with only 13% of transactions now being made with cash compared to 70% in 2007. This trend is making it increasingly difficult for homeless individuals who rely on cash donations to get by. The decrease in cash circulation has also led to a reduction in the number of ATMs available, further limiting access to cash for those in need. Some organizations, such as The Big Issue street newspaper, have implemented alternative payment methods like card payments to adapt to the changing landscape. However, passersby are less likely to donate using tap-and-go methods, and many cashless payments require a bank account or fixed address, which can be challenging for homeless individuals to maintain. [Extracted from the article]

A patent has been issued to Honda Motor Co. Ltd. for systems and methods that provide distance-based notifications for electric vehicles. The invention aims to address the uncertainty of charging times by generating a dynamic task list based on the location of the charging station. The system calculates the charge period for the vehicle and the user's return period, and displays a timing indicator for each task on the dynamic task list. This allows users to determine when to return to their vehicle and optimize the number of tasks they can complete while avoiding idle penalties. [Extracted from the article]

Sainsbury's, the second-largest grocer in Britain, has announced plans for a phased withdrawal from its banking division in order to focus on its core food business. The decision comes after a strategic review of Sainsbury's Bank, and while the company is exploring various options, there will be no immediate changes to the products or services offered. Sainsbury's has been considering selling its banking unit for some time, and in 2021, it ended talks on a potential sale. The current CEO of Sainsbury's Bank, Jim Brown, is retiring and will be replaced by Robert Mulhall. Additionally, Sainsbury's is slimming down its operating board as part of its strategy. [Extracted from the article]

Several Egyptian banks have implemented new restrictions on overseas cash withdrawals and spending due to the country's severe foreign currency shortage. Al Baraka Bank and EG Bank have completely halted international cash withdrawals, while other banks like Commercial International Bank, Abu Dhabi Islamic Bank, and First Abu Dhabi Bank Misr have reduced daily and monthly limits to as low as $50. These measures reflect the ongoing economic crisis in Egypt, as the government struggles to implement an IMF-backed reform program and faces the possibility of another devaluation of the Egyptian pound. The IMF is currently in discussions with Egypt regarding a potential increase in their loan, as the country deals with economic challenges stemming from the Israel-Hamas conflict and attacks on Red Sea shipping. However, another devaluation could exacerbate inflation, which has already reached a record high of 38% in the past year. [Extracted from the article]

Birbank Business has introduced a new online product called the 'Cash-secured guarantee,' which is designed to provide guarantee coverage for entrepreneurs in all business sectors. The product can be accessed through the Birbank Business app, allowing entrepreneurs to apply for the guarantee online. The application is reviewed within one working day, and if approved, the guarantee is issued. This product offers the advantage of not requiring a visit to the bank. In addition to the 'Cash-secured guarantee,' Birbank Business offers a range of other services for business owners, including opening business bank accounts, transfers, cashless payments, and business loans. For more information, visit the Birbank Business website or contact their information center. [Extracted from the article]

Nigeria's central bank has issued guidelines for banks that want to open cryptocurrency accounts, although it still maintains a ban on banks holding or trading virtual assets themselves. The regulations, which were published on the central bank's website, aim to regulate the activities of virtual asset service providers, including cryptocurrencies. Nigeria is following other African countries in increasing oversight of cryptocurrencies due to concerns about corporate collapses and the decline of the nation's fiat currency. The guidelines only allow for naira-based accounts and impose restrictions on cash withdrawals and third-party checks. [Extracted from the article]

The article offers suggestions on reducing tax and healthcare bills under the U.S. CARES Act (Coronavirus Aid, Relief and Economic Security). It discusses a report by the public policy research institution Century Foundation on benefits given under the CARES Act which include penalty-free withdrawal of money, reduction in student loan payments and healthcare emergency savings. It presents views of financial planner Nick Hofer on the contributions of people in the Health Savings Account (HSA).

The article focuses on the United Kingdom government's inaction and lack of prioritization regarding the Local Government Pension Scheme (LGPS). Topics discussed include the absence of pooling guidance, the potential for enhanced reporting requirements, and the possibility of pooling failures leading to government intervention and the need for alternative pools.

Spain has extended certain measures, such as lower taxes on food, to help households cope with rising living costs, despite a decrease in inflation last month. The value-added tax rate on basic food products will remain at 0% for the first six months of 2024. Additionally, taxes on windfall profits of banks and energy firms will be extended for one year, with modifications to allow deductions for strategic investments. Spain's government implemented these policies in response to increased consumer prices following Russia's invasion of Ukraine in 2022. Other decisions made by Spain's cabinet include gradually removing tax breaks on electricity and gas, banning bank commissions for elderly cash withdrawals, and extending a ban on home evictions for those in need. [Extracted from the article]

Former central bank governor of Nigeria, Godwin Emefiele, has been accused of operating 593 bank accounts in the United States, United Kingdom, and China without authorization from the Central Bank of Nigeria (CBN). An investigator appointed by President Bola Tinubu found that Emefiele and other officials allegedly stole billions of Naira from the CBN's accounts, including a fraudulent cash withdrawal of $6.23 million. The investigator recommended the prosecution of Emefiele and 13 other individuals for financial offenses. The report also revealed fraudulent use of funds, misrepresentation of presidential approval, and manipulation of the Naira exchange rate. [Extracted from the article]

China General Nuclear Power Corp. (CGN) has halted funding for the Hinkley Point C nuclear station in the UK, causing tension between London and Beijing. CGN's withdrawal of funding means that Electricite de France SA (EDF) may have to pay for the completion of the £32.7 billion plant alone. This comes after the UK took over CGN's stake in a similar nuclear project in Sizewell last year due to concerns over national security. It is unclear whether the funding halt is temporary or permanent, but the project is expected to continue. EDF may consider reducing the price of power from Hinkley Point C if the UK government helps fund the project. Finding new investors for the project may be challenging, as the estimated cost has increased from £18 billion to £32.7 billion. EDF's CEO estimates that the company's annual investment needs will increase to €25 billion in the coming years. The utility plans to build six new reactors in France and upgrade the electricity grid to accommodate more renewables, but it will need government support to finance these projects. [Extracted from the article]

Banks in Buenos Aires reopened after the recent presidential election without any issues or rush of withdrawals, contrary to some analysts' expectations. However, financial markets are still factoring in the risks associated with Javier Milei's plans, as evidenced by the low rollover rate of debt instruments offered by the central bank. Despite this, local stocks and dollar bonds rallied as investors bet on Milei's radical economic fixes. Milei has sought to calm markets by promising to meet debt obligations and dispelling fears about governability. While Milei's proposal to replace the peso with the US dollar has gained support, the specific steps and timeline for the transition remain unclear. The nation's currency controls and import restrictions have created multiple exchange rates, and a disorderly transition could lead to hyperinflation and undermine Milei's economic overhaul plans. Bank executives are concerned about potential chaos if there is a wave of cash withdrawals, but major devaluation of the official exchange rate is not expected in the coming days. The central bank plans to take measures to ease pressure on the exchange rate gap during the transition period. Proponents of Milei's plan argue that much of the country is already dollarized to some extent. Confidence in the local currency is low, and the idea of formally switching to the US dollar may not be as radical as it seems. [Extracted from the article]

Banks in Buenos Aires reopened without any issues following the recent presidential election in Argentina. Despite concerns that the election of libertarian economist Javier Milei would lead to a rush of cash withdrawals, there was little evidence of this happening. Financial markets remained relatively calm, with the peso slipping slightly and local stocks rallying. Milei, who promised a radical economic overhaul including replacing the peso with the US dollar, has sought to calm markets and assure investors that his government will meet its debt obligations. However, the specific steps and timeline for the currency switch have not been revealed, leaving some uncertainty about the transition. [Extracted from the article]

"We are checking the entire too-big-to-fail framework and will publish a report about necessary measures in different areas next spring", Keller-Sutter said Friday at a policy event in Lucerne. (Bloomberg) -- Switzerland isn't considering limits on bank deposit withdrawals as part of its review of financial regulation after the Credit Suisse crisis, Finance Minister Karin Keller-Sutter said, responding to a Reuters report. [Extracted from the article]

The ex-China ETF's market value has surged to $6.8 billion from just $164 million at the end of 2020, while that of China ETF has dropped from a peak in January to about $6.4 billion. (Bloomberg) -- Assets held by MSCI Inc.'s major ETF for emerging markets outside of China have surpassed those of its China fund for the first time, signaling an erosion in the status of Asia's largest economy as the preferred investment destination. [Extracted from the article]

The cash withdrawal came even as funding conditions tightened sharply in recent days due to month-end demand induced by tax payments and large government bond sales, with a trader reporting a surge to as high as 50% by the overnight rate in isolated transactions Tuesday. (Bloomberg) -- China's central bank withdrew cash from the financial system, suggesting it sees Tuesday's abrupt surge in short-term borrowing costs as a temporary disruption. [Extracted from the article]

PayNearMe, a payments company for the sports betting market, integrated NCR Atleos Corp.'s API solution to withdraw cash at ATMs without a card. Customers receive a secure code through their iGaming and online sports betting apps which they can use... [ABSTRACT FROM AUTHOR]

PayNearMe, a payments company for the sports betting market, integrated NCR Atleos Corp.'s API solution to withdraw cash at ATMs without a card. Customers receive a secure code through their iGaming and online sports betting apps which they can use... [ABSTRACT FROM AUTHOR]

(Bloomberg) -- French lottery operator FDJ SA is considering adding a range of new payment services in a bid to diversify a business model that still heavily relies on gambling, according to people familiar with the matter. The company recently launched Nirio, a solution that allows households to pay bills issued by FDJ's partners in its network, using cash or buy-now-pay-later options. [Extracted from the article]

(Bloomberg) -- DBS Group Holdings Ltd. and Citigroup Inc. said banking facilities have resumed following a disruption on Saturday that prevented customers from fulfilling transactions across various platforms. "A technical issue occurred at one of our data centers in Singapore that raised the temperatures in the data center and impacted some customers' operations", an Equinix spokesperson said. [Extracted from the article]

Birbank Biznes, the internet and mobile banking system designed for legal entities and individual entrepreneurs, has streamlined its registration process significantly. For the first time in Azerbaijan, entrepreneurs can now take advantage of the innovative "Registration through Facial Recognition" feature to effortlessly open a business account. [Extracted from the article]

(Bloomberg) -- Investor requests to pull money out of Blackstone Inc.'s $67 billion real estate trust eased to the lowest in almost a year. Blackstone Real Estate Income Trust is making some headway in resolving its backlog. [Extracted from the article]

Mike Garrard A We won't know what rights Mike and his son have until we ask the bank and Google to shed some more light on this suspected crime. Can I get refund for Apple's faulty keyboard? Q In February, my son's Google account was compromised by someone who tried to set up a Google Ads campaign. [Extracted from the article]