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AmEx President Dies on Plane
Edward Gilligan was viewed as a likely successor to CEO Kenneth Chenault
Edward Gilligan, 55 years old, was traveling on a corporate plane returning to New York from a trip to Japan when he fell ill
Starting on June 1, foreign companies will be able to apply for licenses for bank card clearing businesses in China.
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Bank card transactions totaled $6.84 trillion last year, up 33% from the previous year, according to Reuters, citing data from China’s central bank.
The Fragility of the Global Financial Order
a Chinese global credit card, an alternative Swift system backed by Russia and China, and a number of banks willing to defy the global financial order, could represent a significant challenge to U.S. interests.
The Fragility of the Global Financial Order
'Unlimited' Reaction
In an apparent attempt to head off discussion of the topic, Russian officials have warned in recent days that any move on its membership in SWIFT would elicit a strong response.
"They have again begun discussions about restrictions on the SWIFT payment system," Prime Minister Dmitry Medvedev told a government meeting Monday, Russian state news agency RIA Novosti reported. "If such a decision is taken our economic reaction, and reaction in other spheres, will be unlimited."