Technology 

Mexico pushes mobile payments to help unbanked consumers ditch cash

MEXICO CITY/NEW YORK (Reuters) – Mexico’s new leftist government is betting on financial technology to help lift people out of poverty. FILE PHOTO: A worker moves boxes with green tomatoes through the corridors of the wholesale market “Central de Abastos” in Mexico City, Mexico January 11, 2019. REUTERS/Daniel Becerril/File Photo The administration of President Andres Manuel Lopez Obrador recently announced measures aimed at making financial services more affordable in a nation where more than half the population is unbanked. It is planning a digital payments system run and built by…

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Debenhams secures cash injection as it battles for survival

Image copyright Getty Images Debenhams is understood to have secured a cash injection of around £40m to buy it extra time as it battles to secure a longer term deal with lenders. The department store chain is expected to announce the fresh funds imminently. The struggling chain – which issued three profit warnings last year – is in talks with lenders and bondholders over renegotiating its debts. Debenhams is also trying to accelerate plans to close stores, and is expected to close around 20 stores this year. The extra money…

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Newspaper headlines: ‘May woos Labour MPs with cash’

Newspaper headlines: ‘May woos Labour MPs with cash’ By BBC News Staff Image caption The prime minister is planning to “entice” Labour MPs to back her Brexit deal by offering cash to their constituencies, reports the Times. The paper says Theresa May could provide “a cash injection into deprived areas that supported Leave, including former mining communities”. Image caption Sticking with Brexit, the i sees reason for optimism for Mrs May, suggesting “cracks” are appearing in EU ranks. The paper says there is “genuine determination” among European politicians to avoid…

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News Daily: Backstop pressure on PM and cash for teachers

If you want to get this briefing by email, sign up here ‘Freedom clause’? Image copyright UK Parliament/Mark Duffy Forgive us, because you’ll have heard this before – but it’s going to be a big week for Brexit. On Tuesday, MPs will take part in a series of votes that could shape the future direction of the process. These votes are on amendments – possible changes suggested by MPs – to Theresa May’s deal. They’ll give the PM a strong indication of what Parliament wants, or is willing to swallow,…

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Millions ‘will suffer without cash’

The UK risks “sleepwalking” into becoming a cashless society with millions of people disadvantaged as a result, a study has concluded. Banknotes and coins are a necessity for eight million people, according to the Access to Cash study. The report, authored by ex-financial ombudsman Natalie Ceeney, said a cash-free society would create problems for those in debt or living in rural areas. Last year, debit cards overtook cash as the UK’s most popular payment method. Debit card payments more popular than cash New £50 bank note ‘must recognise ethnic minorities’…

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Sports 

Kenyan warriors hunt cash not lions in Maasai Olympics

Maasai Moran athletes sing and dance as they arrive for the 2018 Maasai Olympics at the Sidai Oleng Wildlife Sanctuary, at the base of Mt. Kilimanjaro, near the Kenya-Tanzania border in Kimana, Kajiado, Kenya December 15, 2018. REUTERS/Thomas Mukoya KIMANA, Kenya (Reuters) – Young Kenyan warriors are no longer pursuing lions to show off their hunting prowess and bravery, they are competing for cash prizes in javelin throwing at the Maasai Olympics instead. “We have changed the outdated lion hunting culture, as there was a time before the Maasai Olympics…

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Two nuns admit embezzling cash for Vegas gambling trips

Image copyright Getty Images Image caption Sisters Mary Kreuper and Lana Chang have expressed “deep remorse” over their actions Two nuns who worked at a Catholic school in California have admitted embezzling about $500,000 and using it to gamble in Las Vegas. Sisters Mary Kreuper and Lana Chang took the money from St James’ Catholic School in the city of Torrance, near Los Angeles, to spend in casinos. The pair, who are said to be best friends, took funds from an account holding tuition fees and donations. The sisters, who…

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Technology 

The pub where your cash is worthless

Image copyright Phil Coomes Image caption Visitors to this pub can’t pay for their drinks or food with cash Cashless establishments may be safer and more convenient, but are they more popular with the public at large? After yet another break-in at south London pub the Crown and Anchor, Arber Rozhaja decided enough was enough. Burglars were after cash lying around after lock-up, but what if there was never any cash on site at all? Mr Rozhaja, operations director at the pub’s parent firm, London Village Inns, calculated the volume…

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Technology 

China says rejecting physical cash is illegal amid e-payments popularity

SHANGHAI (Reuters) – China’s central bank on Monday warned that rejecting cash as a form of payment was illegal, saying that such practices could eventually could cause the loss of confidence in physical money and was unfair to those not accustomed to electronic payments. Its comments, made in a post on its official WeChat account, come as electronic payments via Alibaba Group’s Alipay or Tencent Holdings’s WeChat have become increasingly popular in China where they are accepted on platforms such as public transport and at retailers like coffee shops. The…

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Technology 

Earn after reading: China news app lures with clickbait and cash

BEIJING/SHANGHAI (Reuters) – Cai Li, a janitor in Shanghai, developed a serious addiction to news app Qutoutiao, lured by gossipy articles about celebrities and the cash she gets from reading them. A red packet giving out free cash for new users is seen on the news aggregator app Qutoutiao, on a mobile phone next to a Qutoutiao logo in this illustration picture taken November 26, 2018. REUTERS/Florence Lo/Illustration Logging on during breaks at work and sometimes at night when she can’t sleep, the 63-year old has earned a few hundred…

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