Tesla will lay off more than 10% of its global workforce, according to a memo sent to employees by CEO Elon Musk. The company’s shares closed down more than 5% on Monday. “As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost […]
Boeing on Monday defended the quality and safety testing on its 787 Dreamliner and 777 aircraft, days after one of the company’s engineers went public with allegations that the plane-maker took “shortcuts” to speed up production of the planes. The whistleblower, Sam Salehpour, last week said that Boeing’s 787 assembly put excessive stress on airplane […]
There is a growing disconnect between consumer-focused payment advances and commercial ones. And while it’s not new news that business-to-business (B2B) payments often lack the intuitive, user-friendly interfaces that have come to be viewed as table stakes in today’s digital age — with the revelation that emerging decision-makers are avid digital wallet users, embracing the consumerization […]
You’ve probably noticed that when you’re shopping online or sometimes in a retail store, you can select a buy now, pay later (BNPL) option, which is a type of installment loan that generally allows a consumer to buy something at the point of purchase with little or no initial payment and then pay off the […]
Adyen has published new research revealing that 35% of retail businesses in the UK have been a victim of a cyberattack or data leak in the last year alone In partnership with the Centre for Economic Business and Research (Cebr), the global financial technology platform found that the retail sector lost £11.3bn (US$14bn) to fraud […]
Historically, countries in the Middle East have clenched to cash payments. However, digital payments are increasingly becoming more commonplace. Thanks to the growth of fintechs, spurred on by a favorable regulatory environment throughout the region, cashless transactions are all set to become the norm. One of the reasons for the switch to digital payments is […]
Inflation is on the rise again, but it isn’t the only economic indicator rebounding. Imports coming to the U.S. from China are experiencing a notable increase, according to new trade and logistics data. The rise in import containers originating from China to the U.S. started after the reopening of manufacturing plants that closed during the […]
Twenty-one years ago, the U.S. and its allies invaded Iraq in the erroneous belief that the country possessed weapons of mass destruction and was allied with al-Qaida, the terror group responsible for the 9/11 attacks. The U.S. created an occupation authority, but failed to restore order and helped spawn the insurgency that bedeviled it by […]
With over 240,000 staff under his watch and $32 trillion in assets a day to safeguard, it’s no wonder Jamie Dimon runs a tight ship at JPMorgan Chase. It’s perhaps why America’s biggest bank, which posted record profits for 2023, paid its CEO $36 million for his work last year, having navigated the business through the regional banking […]
Households worldwide are leaning on credit cards to meet everyday costs as inflation and elevated interest rates take a toll. In the U.S., credit scores for lower-income cardholders have fallen to their lowest point since the beginning of 2020, indicating that credit delinquency might still get worse. In the UK, a Bank of England credit conditions […]
The Bundestag, Germany’s federal parliament, has passed legislation to introduce specialized debit cards for asylum seekers, with strict limits on how and where users will be able to spend the money. The plan closely mirrors a pilot program initiated in New York City earlier this year that provides migrants with prepaid debit cards. In Germany, these debit […]
Right under our noses, payment card design has been making strong advances in aesthetic and usage terms. As card issuers fight for top-of-wallet positioning, they have been leveraging design features and formats that enable them to elevate their brand and differentiate their card programs. Features like personalization options and biometric sensors can make a strong impact […]
