Rishi Iyengar

India’s push to go cashless has another high-profile supporter: Google. It launched a mobile payments app designed for the Indian market on Monday, becoming the latest big player to join an increasingly crowded field. The app, called Tez, will connect users’ smartphones to their bank accounts via India’s Unified Payments Interface (UPI), a platform already used by 55 of the country’s top banks. Tez is available on Google’s Android operating system as well as Apple’s iOS. “I believe that in our lifetime we will witness a digital transformation of the Indian economy,” said Caesar Sengupta, the executive leading Google’s...

China’s bitcoin crackdown is wreaking havoc on the virtual currency. Two of the country’s most prominent bitcoin exchanges, BTC China and Via BTC, said they will halt trading this month. BTC China has also stopped registering new users, it said in a statement posted on social media. Both exchanges said the decision to cease trading was triggered by an announcement by Chinese authorities last week banning initial coin offerings (ICOs), in which companies issue “digital” tokens similar to shares in exchange for bitcoin or other cryptocurrencies. There have also been reports that China is preparing a wider crackdown on...

A month ago, a single Bitcoin was worth around $2,000. It has doubled in value since then. The price of bitcoin broke through $4,000 on Sunday, a new record, and has largely stayed above that level since, according to digital currency news site CoinDesk. The dramatic price rise marks the latest milestone in bitcoin’s stellar growth in 2017 — it’s already worth more than four times its value at the start of the year. Experts say it’s difficult to determine the exact cause of the latest jump, but they point to three factors that are helping to drive prices...

Facebook is straying further into YouTube territory. The social media giant has announced a new video platform called “Watch” that will feature live and recorded show episodes. Facebook has been trying for years to become a major player in digital video, but still lags behind its competitors. Related: Facebook may have to delete your embarrassing posts The new service will feature some live events that Facebook has acquired streaming rights for, including a weekly Major League Baseball game. Other shows will be produced by video partners including National Geographic, Time Inc., NASA and the NBA. A Facebook spokesman told...

Apple’s CEO says he hopes China’s intensified crackdown on internet access is only temporary. Tim Cook on Tuesday addressed the controversy over his company’s recent removal of some virtual private network (VPN) apps from its China App Store, reiterating that the U.S. company was simply complying with Chinese regulations. “We’re hopeful that over time the restrictions we’re seeing are lessened, because innovation really requires freedom to collaborate and communicate,” Cook said during Apple’s latest earnings call. “We believe in engaging with governments even when we disagree,” he said. Related: Apple is removing VPN apps that allow users to skirt...

Apple is removing software from its app store in China that allows users to skirt the country’s Great Firewall. The operators of two virtual private networks, or VPNs, said Saturday that they had been notified by Apple that their products were being removed from its app store in China. “We are writing to notify you that your application will be removed from the China App Store because it includes content that is illegal in China,” Apple said in a notice to ExpressVPN. “We know this stuff is complicated, but it is your responsibility to understand and make sure your...

One of India’s biggest outsourcing firms has formally called out President Trump as a danger to its business. Bangalore-based Wipro has included Trump’s election as U.S. president in a list of “risk factors” in its latest filing with the Securities and Exchange Commission. “Significant developments stemming from the recent U.S. presidential election could have a material adverse effect on our business,” Wipro said. It called out Trump’s opposition to the North America Free Trade Agreement and his advocacy for “greater restrictions on free trade” as specific risks. Related: Trump’s renewable energy cuts alarm former officials Wipro, much like its...