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Finance

Is the bubble going to burst on the bitcoin boom?

Is the bubble going to burst on the bitcoin boom?

Finance
The ambition that gave birth to the InterPlanetary File System is as immodest as the name.The brainchild of a Silicon Valley start-up called Protocol Labs, IPFS aims to give anyone the chance to buy and sell unused computer storage space. There is even a made-up unit of exchange for this proposed market: a digital currency called Filecoin.Speculators do not seem concerned that this spot market for global computing resources is still only a plan embedded in a piece of open source software. Or that, if it catches on, it will be competing with corporate giants such as Amazon, the leading cloud computing provider. Despite these obvious obstacles, Protocol Labs raised more than $ 250m in an open online sale of its invented currency that ended last week.So-called initial coin offerings, or ICOs,...
Many women struggle with being 'suddenly single'

Many women struggle with being 'suddenly single'

Finance
Becoming suddenly single can set your world in a tailspin, and a lack of financial planning is setting women in particular even further back.Death or divorce rank among the top five financial challenges female clients face, according to a report by Key Private Bank. Estate planning, investment decisions and legacy planning were the other top hurdles, the report said.Though traditional gender roles are changing, financial advisors say, many couples still adhere to them, with men generally taking the lead on finances.However, the average age of widowhood is 59, according to the U.S. Census Bureau, with many women living another decade or more beyond a husband's death. "Many women play a passive role when it comes to money and investing," said Rorrie Gregorio, the national partner in charge o...
Here's what happened when I tried to freeze my credit

Here's what happened when I tried to freeze my credit

Finance
Freezing your credit after Equifax hack...not so easyLike millions of other people, I freaked out a little last week when I learned that my personal information "may have been impacted" by the Equifax breach.Thieves got the mother load of data, which they could use to open credit cards or loans in my name. But what should I do to protect myself? I wasn't sure. Equifax said it was offering a free credit monitoring service, so I decided to start there. I tried to sign up for it right away on Friday, but instead I was given an enrollment date to come back: September 13. I would have to wait almost a week to get it. In the meantime, I pulled one of my credit reports to see if anyone had tried to open an account in my name. So far, so good. I also placed what's called a fraud alert on my cre...
NPA resolution: Bank unions sceptical of bankruptcy process

NPA resolution: Bank unions sceptical of bankruptcy process

Finance
NEW DELHI: Bank unions today claimed the bankruptcy process initiated by various lenders for NPA resolution will not help in bringing the money back. Bankruptcy process is not going to yield desired results in terms of NPA resolution as recovery is likely to be very low, All India Bank Employees Association (AIBEA) General Secretary C H Vekatchalam said. "Banking Regulations Act has been amended to resort to Insolvency and Bankruptcy Code against big defaulters but this litigation route is time consuming and there is no guarantee of banks getting back the entire loans. Banks will incur further losses on account of these accounts," he said. RBI recently identified 12 accounts with non-performing assets (NPAs) of about Rs 2.5 lakh crore and asked various banks to initiate bankruptcy pro...
ICO stands for Investor Caution Obligatory

ICO stands for Investor Caution Obligatory

Finance
HERE is the deal. You can buy an entry in a computer ledger issued by a startup company on the basis of an unregulated prospectus. It is called an “initial coin offering” or ICO. But though the ledger entry is called a coin, you cannot spend it in any shop. And whereas the use of the term ICO makes it sound like an IPO (initial public offering), the process whereby a firm lists on a stockmarket, coin ownership does not necessarily get you equity in the company concerned.This sounds like the kind of bargain that would appeal only to people who reply to e-mails from Nigerian princes offering to transfer millions to their accounts. But ICOs may well be the most popular investment craze since the dotcom boom of 1999-2000; even Paris Hilton, a celebrity heiress, has jumped on the bandwagon. The