News from 2024
SEC appeals Ripple Labs decision after $125 million penalty imposed
By Globe Banner | Oct 25, 2024
On October 2, just one hour after SEC Enforcement Chief Gurbir Grewal announced his resignation, the Securities and Exchange Commission (SEC) filed an appeal with the United States Court of Appeals for the Second Circuit, contesting the Southern District of New York's August decision that imposed a $125 million penalty on Ripple Labs, Inc.
Global sales slump as Starbucks faces legal and operational challenges
By D. D. Diggs | Oct 25, 2024
On October 22, Starbucks Corporation announced a 7% decline in global comparable store sales for its fourth fiscal quarter, deepening concerns about the coffee giant’s ability to regain its footing amid a challenging business environment and mounting legal and ethical challenges.
World Bank sets targets for women's economic empowerment by 2030
By Globe Banner | Oct 24, 2024
The World Bank Group has announced the initial steps for implementing its Gender Strategy 2030, aiming to enhance economic opportunities for women globally.
International bodies propose coordinated approach on climate action in new joint report
By Globe Banner | Oct 24, 2024
Five international organizations have released a significant report detailing potential coordinated approaches to climate action, carbon pricing, and the cross-border effects of climate change mitigation policies. The report was presented by the Joint Task Force on Climate Action, Carbon Pricing, and Policy Spillovers, convened by the World Trade Organization (WTO) and joined by the International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), United Nations Conference on Trade and Development (UNCTAD), and the World Bank.
World Bank launches strategy for women's economic empowerment by 2030
By Globe Banner | Oct 24, 2024
The World Bank Group has announced its Gender Strategy 2030, aiming to enhance economic opportunities for women by 2030. The initiative was introduced at the 2024 World Bank Group Annual Meetings and focuses on three main areas: broadband access, social protection, and capital provision.
Spain increases financial commitment to International Development Association by nearly 40
By Globe Banner | Oct 24, 2024
Spain has announced a financial commitment of €400 million to the International Development Association (IDA), marking a 37% increase from its previous contribution.
Trade facilitation meeting addresses digitalization efforts
By Globe Banner | Oct 24, 2024
China, El Salvador, Georgia, Jamaica, and Japan have shared their national experiences with digitalization in the "Single Window for Trade Facilitation" process at a recent committee meeting.
New ad highlights benefits of zero international transaction fees
By Globe Banner | Oct 24, 2024
Australia is witnessing a new development in the world of finance as an advertisement titled "Hussle free" makes waves.
German-Indian collaboration advances India's transition to renewable energy
By Globe Banner | Oct 24, 2024
India's solar energy potential is being harnessed through a partnership with KfW, which has provided EUR 1 billion in subsidized loans from 2017 to 2023.
WTO begins advanced trade policy course focused on practical applications
By Globe Banner | Oct 24, 2024
The World Trade Organization (WTO) has commenced its advanced trade policy course in Geneva. The program emphasizes case-based learning and practical application of WTO agreements, aiming to enhance participants' analytical and negotiation skills. Through discussions, simulations, and case studies, attendees gain hands-on experience with WTO tools and databases.
World Bank reviews Nepal's human capital for economic growth
By Globe Banner | Oct 24, 2024
The World Bank Group has released the Nepal Human Capital Review (NHCR) as part of its global Human Capital Project. This initiative highlights the importance of investing in people to boost economic growth and prosperity through improved education, health, and nutrition. The review aims to understand why income inequalities persist and why many Nepalis remain in poverty.
Spain boosts financial pledge by nearly 40% for international development association
By Globe Banner | Oct 24, 2024
Spain has announced an early financial commitment of €400 million to the International Development Association (IDA), the World Bank's fund for low-income countries. This represents a 37% increase compared to the previous IDA replenishment cycle, highlighting Spain's ongoing dedication to sustainable development worldwide. With this contribution, Spain's total donations exceed €5 billion since IDA's inception.
Germany pledges EUR 150K for farm trade standards in developing economies
By Globe Banner | Oct 24, 2024
Germany has pledged EUR 150,000 to support developing economies in meeting farm trade standards.
NCUA board discusses cybersecurity threats and charter modernization initiatives
By Globe Banner | Oct 24, 2024
The National Credit Union Administration (NCUA) Board convened for its seventh open meeting of 2024, where members received updates on cybersecurity and charter modernization efforts. The briefings highlighted significant trends and challenges facing the credit union sector.
Binance announces LATAM community event in Cartagena
By Globe Banner | Oct 24, 2024
Binance announced a LATAM community event in Cartagena, Colombia, where over 18 Binance Angels from the region gathered to strengthen relationships and exchange insights. The event focused on collaboration, shared experiences, and building a stronger community.
Amazon VP: Amazon's annual pay reviews ensure wages are 'industry-leading'
By D. D. Diggs | Oct 23, 2024
Udit Madan, Amazon's vice president of worldwide operations, said Amazon conducts annual reviews of their wages and benefits in order to maintain "competitive" and "industry-leading" rates for employees.
Global banks to trial live digital asset transactions using Swift network in 2025
By R. B. Pepalis | Oct 23, 2024
On October 3, Swift announced that major banks across North America, Europe, and Asia will conduct live trials of digital currency and asset transactions starting in 2025.
Amazon spokesperson: The company used 'logistics infrastructure, global inventory, and technology' to aid in hurricane relief efforts
By B. B. Urness | Oct 23, 2024
Andre Woodson, a spokesperson for Amazon, said the company was able to help in relief efforts in areas impacted by Hurricane Helene and Hurricane Milton by using its "logistics infrastructure, global inventory, and technology."
Blinken discusses Middle East issues with Jordanian Foreign Minister
By Globe Banner | Oct 23, 2024
Secretary of State Antony J. Blinken engaged in a conversation with Jordan's Deputy Prime Minister and Minister of Foreign Affairs and Expatriates, Ayman Safadi, to discuss recent regional developments.
Cabo Verde advances toward becoming a West African digital hub
By Globe Banner | Oct 23, 2024
Cabo Verde is setting its sights on becoming a digital hub in West Africa, with significant investments aimed at modernizing public services and boosting the economy. The government has outlined plans to digitize 60% of public services by 2026, with aspirations to reach over 80% by 2030. Key initiatives include the Weblabs program, which educates nearly 14,000 students in digital fields, and Cabo Verde Digital's efforts to foster innovation among startups.