Author: Vitaliy Dadalyan

Ripple's XRP is exploding after announcing a partnership with MoneyGram to speed up transfers (MGI)

MoneyGram has partnered with Ripple to use its XRP cryptocurrency in money transfers. Shares of MoneyGram, the second-largest money transfer company in the world, spiked as much 12.75% Thursday after the company said it had signed a partnership with Ripple to test using the company's XRP cryptocurrency to improve transfer settlement times and costs. XRP is climbing as well, spiking as much as 14%.


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Walmart is raising wages and issuing bonuses after tax reform (WMT)

Walmart is raising wages and issuing one time bonuses to employees. Walmart said it will raise the starting wage for its employees, and issue one time bonuses up to $1,000, as a direct result of the new US tax plan. Walmart is raising its starting hourly wage to $11, a move that will cost the company $300 million in addition to previously planned wage hikes.


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China says diversifying FX reserves, warns report on U.S. bonds may be ‘fake’

China is diversifying its foreign exchange reserves in order to safeguard their value, the country's currency regulator said on Thursday, while dismissing a media report the government is halting or reducing its purchases of U.S. debt. Bloomberg News reported on Wednesday that Chinese officials reviewing the country's vast foreign exchange holdings had recommended slowing or halting purchases of U.S. Treasury bonds amid a less attractive market for them and rising U.S.-China trade tensions. The report sent U.S. Treasury yields to 10-month highs and the dollar lower.


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China says protectionist sentiment rising in U.S. as deals fall apart

China said on Thursday protectionist sentiment is rising in the United States and criticised Washington for blocking a high-profile Chinese takeover of a U.S. financial firm on security grounds. Ant Financial's planned $1.2 billion purchase of transfer firm MoneyGram International Inc collapsed last week after a U.S. government panel rejected the deal over national security concerns. It was the most high-profile Chinese deal to be torpedoed since Donald Trump was elected U.S. president a year ago on promises to put America first and protect U.S. jobs from foreign competitors.


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