Goodbye LIBOR, Hello SOFR!

LIBOR has been an endangered species for some time now. LIBOR, the rate that banks charge each other to borrow money, is slated to go by the wayside in 2021 and taking its place for USD will be something called the Secured overnight financing rate, or SOFR. Almost every part of the financial world is touched by LIBOR; it is plausibly the world’s most important number.

A PM brought down by a font!

You may have sent an Outlook email to the wrong person or accidentally opened an embarrassing PowerPoint during a meeting, but for Pakistan’s Prime Minister Nawaz Sharif, one of Microsoft’s products became a real problem. He has been forced to resign after he was disqualified from office by the country’s top court.

Game Theory in Climate Negotiations

The 2015 Paris agreement established a global target for lowering greenhouse-gas emissions — aimed at keeping the atmosphere from warming by 2 degrees Celsius. One hundred and ninety-four countries have signed the treaty, which means that they have agreed to continue the process of the treaty on climate change mitigation. Nearly all the world’s countries agreed to create a system to measure their progress, and to continually strengthen their efforts.

Digitalization of Banking

Despite several opportunities, banks face pressure from both external and internal forces that hinder full-scale digitalization. The complexity and width of digital initiatives vary upon infrastructure, customer preferences and policy framework of the region.

Right to disconnect

Aside from well-being, experts say that employers should consider the effects digital exhaustion can have on workers’ productivity, which could impact the bottom line. There is certainly more research to be done, and perhaps once the French law is in place, we will have the makings of a real world “experiment.”

Moving towards a cashless society

Cash plays an important role in our modern economy, particularly among the poor, and every step forward towards cashless future should be with great caution, keeping the poor section surviving solely on informal economy included in the transition process. The digital transformation of cash is a cost savings to the entire financial ecosystem. From printing to cash management to physical infrastructure to securing and dispensing of currency, cash is very expensive. Government must think out of the box to pass these savings to consumers as incentives to embrace digital transactions.

Hackers program ATMs to spew cash

As ATMs have become ubiquitous, so too have attacks that turn these automated tellers into robotic thieves. In July 2016, a group of masked cyber-criminals cashed out 34 ATMs operated by the First Commercial Bank, one of Taiwan’s largest banks. Criminals had collected more than 83.27 million New Taiwan dollars (US$2.6 million) in cash — without using ATM cards. The criminals did not physically damage the ATMs, nor did they use skimmers or bank cards.