AI and technology will continue to be the dominant theme for investors throughout the year: JPMorgan
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Epoch Times
8 hours ago
- Epoch Times
The Muscle of Brussels
Opinion Opinion How the European Union became the world's regulatory superpower. In a world where global power is measured by military strength, technological innovation, or cultural influence, it is striking that the European Union, without housing major tech giants or centers of disruptive innovation, has turned bureaucracy into a tool of global power. It shapes the behavior of global companies, including American big tech firms, which adapt their products to comply with European norms. This phenomenon is known as the 'Brussels Effect' and has positioned the EU as the world's regulatory superpower, fueling growing tensions, particularly with the United States following the re-election of Donald Trump.
Yahoo
8 hours ago
- Yahoo
Brex secures payment licence to serve EU
Brex has secured a payment institution (PI) licence in the European Union (EU), facilitated through the Netherlands, to serve businesses across the region. The authorisation enables Brex to expand its financial services, including the issuance of commercial credit cards and the facilitation of payment transactions such as direct debits and credit transfers, across the EU. Previously, Brex's services were accessible primarily to companies with a US base or headquarters. The new licence allows Brex to directly cater to the needs of European enterprises, offering them financial tools, including corporate cards, expense management, and treasury services. Brex has a customer base of 1,500 EU-operating businesses, with nearly half of them conducting operations in multiple countries. The finance platform may also seek an additional licence to assist customers in the UK. Brex CEO and co-founder Pedro Franceschi said: "Over the last seven years, we've built the global payments infrastructure to support customers in more than 200 countries and 60+ currencies. 'This licence takes us one step further, enabling Brex to directly serve EU-based businesses and their subsidiaries with locally accepted cards, less friction, and best-in-class payment capabilities." The company will initiate a gradual onboarding process for select customers in the near term, with the objective of reaching full operational capacity in the EU by the year 2026. To support this expansion, Brex has established a local presence in the Netherlands, including a dedicated team and office infrastructure to manage sales, operations, and customer service. With a current on-the-ground team of 12 members, Brex is prepared to scale up its European operations in alignment with the growth of its customer base in the region. "Brex secures payment licence to serve EU" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
New York Times
12 hours ago
- New York Times
Flattery, Lobbyists and a Business Deal: Crypto's Richest Man Campaigns for a Pardon
In 2023, as Changpeng Zhao, the founder of the giant cryptocurrency exchange Binance, prepared to plead guilty to U.S. money-laundering violations, he fashioned a crash course for himself on clemency politics, reading books about business tycoons who had received pardons, including Marc Rich and Michael Milken. Two years later, Mr. Zhao, a Chinese-born billionaire, is out of prison and mounting a pardon campaign of his own, backed by a sophisticated influence operation worthy of those high-profile predecessors. Even at a time when many pardon seekers are paying hefty fees to lobbyists and lawyers with connections to President Trump, Mr. Zhao's push stands out. The stakes could be enormous for the crypto industry, and Mr. Zhao and his team are deploying the full playbook of techniques that have helped deep-pocketed interests win preferential treatment from Mr. Trump. Publicly, Mr. Zhao, in podcast interviews, has praised the president's crypto policies. Behind the scenes, his team has hired lobbyists with ties to Mr. Trump's orbit. Binance has also cultivated a business relationship with the Trumps, striking a deal that benefited the family's own crypto firm, World Liberty Financial. Mr. Zhao and Binance pleaded guilty to serious crimes in 2023, acknowledging that a flawed compliance system had allowed bad actors to move money on the platform. But the Trump administration appears to be considering the possibility of granting clemency. The White House has received pardon applications from both Mr. Zhao and Binance, according to two people briefed on the applications, one of whom said the White House indicated that they were being reviewed. And in private conversations with other executives, advisers to Mr. Trump have floated the possibility of a pardon for Mr. Zhao and discussed the possible political fallout, according to two people familiar with the matter, who spoke on the condition of anonymity to describe sensitive discussions. Want all of The Times? Subscribe.
