News from around the world of finance, technology, and investing
Yahoo finance is launching a paid-subscription service for its customers. According to Verizon, Yahoo’s parent company, Yahoo will still have a free version of its service, but will now afford a paid-subscription with even more tools and resources for Yahoo Finance lovers.
“This new service gives investors a deeper look at the data and fundamentals essential to everyday returns, paired with third-party research, enhanced charting with event analysis, and sophisticated company profiles to gain new insights and make smarter investments. Yahoo Finance Premium is integrated into Yahoo Finance’s existing desktop and app products; investors can chart, screen and analyze new data sets.”
Dubbed, “Yahoo Finance Premium”, the service is currently being offered for $34.99 for early adopters.
If N26 is any indication, challenger banks could supplant their more traditional incumbents in the banking sector. Recent numbers released by N26 show the company already has 3.5 million subscribers spread across 24 markets in Europe. Yet, it’s the company’s transaction volume that has everyone excited. As reported by TechCrunch:
“But even more important than the number of users, N26 currently handles a volume of €2 billion per month — it represents 400 transactions per minute.”
The company, which started in Berlin, Germany, has grown substantially in just a few short years, already raising €466 million in funding.
Self-driving cars could be coming to Europe by 2021. But the advancement in this technology isn’t being driven by any car manufacturer. Chinese tech giant Huawei is developing AI technology to power self-driving cars for the region in as little as two years. QZ reports:
“The Chinese telecoms giant is looking to ship a self-driving car using its own AI technology in 2021 or 2022, Huawei’s chief strategy architect Dang Wenshuan told the Financial Times (paywall) June 12. Huawei is providing its AI infrastructure to several high-profile carmakers, including Audi, the Japanese-Chinese joint venture GAC Toyota Motor, and China’s state-owned carmakers, Beijing New Energy Automobile and Changan Automobile.”
Unfortunately for Huawei, it is still in the midst of harsh regulatory controls put in place by the United States government, which include a ban on the company’s equipment from US networks and increased tariffs.
After Apple’s announcement of a credit card many people were skeptical. But it appears that the folks over at Goldman Sachs are quite excited at the idea, especially after taking the technology for a test drive. The no-fee card which is designed to be linked to the iPhone has an advocate in Goldman Sachs CEO David Solommon. As reported by CNBC, Solomon raved about the card:
“It’s in beta right now; there are some employees at Goldman Sachs and some employees of Apple that are using the card,” Solomon said. “I’m using the card, I like the way it works. I like the simplicity, the lack of friction when it comes to paying bills, looking at what you’ve spent, ease of use.”
The Apple Card is just the beginning of what looks to be a trend of tech firms laying the groundwork for more financial services. In fact, it’s estimated that tech giants like Apple, Amazon, and Google could garner up to 40% of the $1.35 trillion financial services market in the US alone.