CNBC International

The past year has proven transformative for financial technology. Global venture funding into the fintech sector has declined sharply from the industry’s heyday in 2020 and 2021, and experts say the market is in a new normal, with valuations correcting from unsustainable highs. In this climate, CNBC, together with market research firm Statista, has listed the top 250 fintech companies globally. Here we highlight the editor’s picks which are handpicked standout companies from each individual market segment for their newsworthiness. ➡️ Find the full list: https://cnb.cx/3VY2roM

What would a second Trump presidency mean for Chinese EV makers? Michael Dunne of Dunne Insights LLC, a firm that tracks the auto market in China and other Asian countries, explains why he thinks former President Trump may allow Chinese EV brands to produce in the United States. Here’s why.

OpenAI on Thursday announced a prototype of its search engine, called SearchGPT, which aims to give users “fast and timely answers with clear and relevant sources.” The company said it eventually plans to integrate the tool, which is currently being tested with a small group of users, into its ChatGPT chatbot. Read more: https://cnb.cx/4di4M4Z

Vice President Kamala Harris said “Israel has a right to defend itself ... and how it does so matters.” Harris’ remarks followed a meeting she held with Israeli Prime Minister Benjamin Netanyahu in Washington Thursday. “It is time for this war to end and end in a way where Israel is secure, all the hostages are released, the suffering of Palestinians in Gaza ends and the Palestinian people can exercise their right to freedom, dignity and self determination,” said Harris. Read more: https://cnb.cx/3A6x7ga

Since the 1960s, every city hosting the Olympics exceeded its initial budget by a large margin, according to an Oxford University study. But at this summer's games, a different story is taking shape. Spending at the 2024 Paris Olympics is expected to come in at under $10 billion — only about 25% over the initial budget, according to an S&P Global Ratings report. In sharp contrast, the 2016 Games in Rio de Janeiro and 2020 Games in Tokyo deviated from their original budgets by more than 350% and 280%, respectively, the report said. The chief advantage this time can be summed up in two words: existing infrastructure. Find out more: https://cnb.cx/3ykGXKU

Will a global I.T. outage, like that caused by Crowdstrike, happen again? It seems likely. "Until governments and the industry get together and work out how to design out some of these flaws, I'm afraid we're likely to see more of these again," said Professor Ciaran Martin, former CEO of the U.K.'s National Cyber Security Centre. In the latest episode of CNBC Tech: Beyond the Valley podcast, Arjun Kharpal and Tom Chitty break down what exactly happened last week, what the fallout will be, and what can be done to prevent it happening again. Listen wherever you get your podcasts.

U.K. regulators fined Coinbase’s U.K. arm £3.5 million ($4.5 million) on Thursday over breaches of a voluntary agreement designed to stop the cryptocurrency exchange onboarding “high-risk customers.” Read more: https://cnb.cx/4ftmqVs

Singapore is the world’s safest city for tourists, according to new research by Forbes Advisor. The study, which analyzed factors such as crime, healthcare quality and risks of natural disasters, ascribed safety scores from 0 to 100 — with the safest cities receiving the lowest scores. Scroll to see the top safest cities in the world. Read more: https://cnb.cx/4dhkBsA

British fintech startup Revolut on Thursday that it had received a preliminary banking license with restrictions from the U.K.’s Prudential Regulation Authority, bringing to an end a three-year wait. Revolut first applied for its banking license in 2021, but it has faced lengthy delays. A U.K. banking license will allow Revolut to take customer deposits and also issue products like loans and credit cards. It joins a host of other challenger banks like Monzo Bank and Starling Bank, which are aiming to rival traditional banking players like Barclays. Read more: https://cnb.cx/3yeF5U6

As Israeli Prime Minister Benjamin Netanyahu delivers his fourth address to a joint session of the United States Congress, what do Israelis think about the ongoing war in Gaza? We ask Michael Oren, former Israeli ambassador to the United States.