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Skype-type money swaps bad news for banks?

Irked by high bank fees on international money transfers, two Estonian IT whizzes who helped engineer Skype and Paypal have hatched Transferwise, a global Internet platform coordinating currency swaps between individuals.

93-year-old American woman donates $22 mn to Cologne Zoo

A 93-year-old widow from the United States has donated $22 million to the zoo in Cologne, Germany, saying she wanted to give back to the city where she and her husband met during World War II, German media reported Friday.

US penalizes developer of virtual currency XRP

San Francisco company Ripple Labs agreed to pay a $700,000 penalty for running a market for XRP, the world's second largest virtual currency after Bitcoin, outside US financial regulations.

Kenya sells first ever mobile government bonds

Kenya, a pioneer in mobile money, on Thursday began selling the first ever government bonds via mobile phone, allowing anyone from teachers to shop owners to invest and fund infrastructure projects.

Bank of England chief slams cryptocurrencies; urges action

Bank of England Governor Mark Carney has launched a withering attack on cryptocurrencies such as bitcoin Friday and urged regulators around the world to monitor them in the same way as other financial assets.

Young people overly optimistic about finances

A new survey of young New Zealanders by the Westpac-Massey Fin-Ed Centre shows that many believe their financial situation will improve in the coming year and their money management skills require no improvement.

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