In a move aimed at reducing the UK's reliance on US-owned payment systems, British bank bosses are planning to establish a national alternative to Visa and Mastercard. The initiative, which is set to be discussed at a meeting this Thursday, is being driven by concerns over Donald Trump's ability to impact the global financial landscape.
According to sources, the meeting will be chaired by Barclays' UK chief executive, Vim Maru, and will bring together a group of City funders who will front the costs of the new payments company. The move is seen as a precautionary measure, aimed at ensuring the UK economy can continue to function in the event of any disruptions to US-owned payment systems.
The decision to establish a national alternative to Visa and Mastercard comes as the UK banking sector seeks to reduce its reliance on foreign-owned payment systems. The move is also seen as a response to the increasing uncertainty surrounding the global financial landscape, particularly in light of Donald Trump's presidency.
In other news, the Miami Dolphins have released star wide receiver Tyreek Hill in a cost-cutting move. The decision, which was reported by multiple outlets on Monday, will save the Dolphins $22.8m against the 2026 salary cap.
Hill, an eight-time Pro Bowl wide receiver, suffered a season-ending ACL injury and was signed to a $120m extension in 2022. The move to release Hill is seen as a strategic decision by the Dolphins, who are looking to free up salary cap space to make other moves in the offseason.
The release of Hill is part of a flurry of moves by the Dolphins, who also cut pass rusher Bradley Chubb. The team is looking to restructure its roster and make a push for the playoffs in the upcoming season.
While the two stories may seem unrelated at first glance, they both highlight the importance of strategic decision-making in the worlds of finance and sports. In the case of the UK bankers, the decision to establish a national alternative to Visa and Mastercard is a response to the increasing uncertainty surrounding the global financial landscape.
Similarly, the Dolphins' decision to release Tyreek Hill is a strategic move aimed at freeing up salary cap space and restructuring the team's roster. Both decisions highlight the importance of adaptability and forward thinking in today's fast-paced and ever-changing world.
Sources:
In a move aimed at reducing the UK's reliance on US-owned payment systems, British bank bosses are planning to establish a national alternative to Visa and Mastercard. The initiative, which is set to be discussed at a meeting this Thursday, is being driven by concerns over Donald Trump's ability to impact the global financial landscape.
According to sources, the meeting will be chaired by Barclays' UK chief executive, Vim Maru, and will bring together a group of City funders who will front the costs of the new payments company. The move is seen as a precautionary measure, aimed at ensuring the UK economy can continue to function in the event of any disruptions to US-owned payment systems.
The decision to establish a national alternative to Visa and Mastercard comes as the UK banking sector seeks to reduce its reliance on foreign-owned payment systems. The move is also seen as a response to the increasing uncertainty surrounding the global financial landscape, particularly in light of Donald Trump's presidency.
In other news, the Miami Dolphins have released star wide receiver Tyreek Hill in a cost-cutting move. The decision, which was reported by multiple outlets on Monday, will save the Dolphins $22.8m against the 2026 salary cap.
Hill, an eight-time Pro Bowl wide receiver, suffered a season-ending ACL injury and was signed to a $120m extension in 2022. The move to release Hill is seen as a strategic decision by the Dolphins, who are looking to free up salary cap space to make other moves in the offseason.
The release of Hill is part of a flurry of moves by the Dolphins, who also cut pass rusher Bradley Chubb. The team is looking to restructure its roster and make a push for the playoffs in the upcoming season.
While the two stories may seem unrelated at first glance, they both highlight the importance of strategic decision-making in the worlds of finance and sports. In the case of the UK bankers, the decision to establish a national alternative to Visa and Mastercard is a response to the increasing uncertainty surrounding the global financial landscape.
Similarly, the Dolphins' decision to release Tyreek Hill is a strategic move aimed at freeing up salary cap space and restructuring the team's roster. Both decisions highlight the importance of adaptability and forward thinking in today's fast-paced and ever-changing world.
Sources: