This Week in Finance News: 12 Stories You Need to See

A roundup of the most newsworthy financial press releases from PR Newswire this week, including updates in cross-border payments and retirement spending, as well as The Economist’s look ahead at 2025.

NEW YORK, Nov. 22, 2024 /PRNewswire/ — With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

1. Chainlink joins Banco Inter, Microsoft and 7Comm consortium to support trade finance use case in phase 2 of Drex pilot
   
   The solution leverages blockchain technology and oracles to automate supply chain management and improve trade finance processes. The goal of the pilot is to demonstrate the automated settlement of agricultural commodity transactions across borders, across platforms, and via different currencies.
2. PayPal PYUSD To Bring Speed and Reduced Costs to Cross-Border Payments with Xoom
   
   These forthcoming integrations will help drive financial inclusion by providing more widespread access to digital financial solutions across Asia-Pacific and Africa. In addition, PayPal will be able to conduct cross-border settlement transactions without being restricted by traditional banking hours.
3. The Great American Group Launches as New Independent Business Following Formation of Partnership between Oaktree and B. Riley
   
   The Great American Group will leverage a 30-year track record to provide industry-leading valuation, appraisal, asset disposition and real estate services.
4. Nordic Capital to acquire Anaqua, a leading global Intellectual Property Management solutions provider
   
   Anaqua’s differentiated solution integrates best-practice workflows, data analytics, foreign filings, and patent and trademark renewal payments into a single, mission critical software platform. This platform offers a unique end-to-end value proposition to streamline operations, inform strategy and empower decision-making around customers’ valuable IP portfolios.
5. The Economist launches The World Ahead 2025-forecasting a year of uncertainty and instability with Trump upending global trade, economics and geopolitics
   
   Commenting on this year’s edition of The World Ahead, editor Tom Standage said, “Donald Trump’s decisive victory and imminent return to the White House will, more than anything else, shape the coming year, with implications in many areas of policy, not just for America, but for the world. What will this mean for global security, the clean-energy transition, international trade and governments’ efforts to cut deficits?”
6. Bethpage Federal Credit Union is Becoming FourLeaf
   
   Bethpage Federal Credit Union, the largest credit union in the Northeast Region, and the 15^th largest in the nation with over 480,000 members and $13.4 billion in total assets, is rebranding to become FourLeaf Federal Credit Union. The new name, FourLeaf, represents the credit union’s commitment to growth, prosperity and abundance for its members and the communities it has served for the past 83 years.
7. South Korea’s Hanwha Life to acquire majority stake in U.S.-based Velocity Clearing, allowing both companies to target global markets
   
   Hanwha Life has agreed to acquire a 75% stake in the parent of Velocity Clearing, a U.S.-based global financial services firm. The Velocity Clearing management team will retain the remaining minority stake. With this acquisition, Hanwha Life will secure a foothold in the U.S. financial sector, expanding access to excellent opportunities to maximize the return on investment.
8. Spending Retirement Savings is Keeping Americans Up at Night
   
   Nearly half of America’s retirees (46%) say spending their savings creates anxiety and is having an emotional toll on them and nearly a third (32%) are spending money faster than they expected, according to the most recent chapter of the Alliance for Lifetime Income’s 2024 Protected Retirement Income and Planning (PRIP) Study.
9. Kong Secures $175 Million New Financing at $2B Valuation to Power the API World
   
   Kong will use the new funds to accelerate its global GTM expansion, enhance product innovation with AI-infused capabilities across AI Gateway, Konnect, Insomnia and all its leading API runtimes such as Kong Gateway and Kong Mesh, while investing in the growth of its customer experience teams.
10. Digital News Platform MONIIFY to Deliver Business and Finance Content for Millennials and Gen-Z in Emerging Markets
    
    Founded by serial entrepreneur Naguib Sawiris, MONIIFY aims to empower the next generation of entrepreneurs and investors to make smarter money moves by providing insights and analysis on high-potential regions and sectors, including tech, AI, cryptocurrency, and energy.
11. Benzinga Announces Winners for the 2024 Global Fintech Awards
    
    The prestigious event, held at Convene Brookfield Place in New York City, celebrated innovation, excellence, and outstanding achievements across over 25 categories, recognizing companies and individuals who are shaping the future of financial technology.
12. Altrata Report Finds Billionaires’ Wealth Surged by 9%, Reaching a Record of $12.1 Trillion
    
    North America saw the fastest growth in billionaire numbers of any region in 2023. It now accounts for 33.4% of the global billionaire population.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

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