Crude oil prices were on track for yet another weekly loss earlier today as pessimism about demand growth in China continued to dominate markets. At the time of writing Brent crude was trading at $72.45 per barrel and West Texas Intermediate was changing hands for $69.91 per barrel, both down from opening in Asia. Reuters […]
U.S. stock futures fell on Friday morning as traders anticipated the latest reading of the Federal Reserve’s favorite inflation gauge. Futures tied to the Dow Jones Industrial Average lost 88 points, or about 0.2%. S&P 500 futures also dropped around 0.3%, while Nasdaq 100 futures slid 0.6%. Futures took a turn lower after a Trump-endorsed […]
Buy now, pay later has emerged as one of the most transformative innovations in the payments industry in recent years. While no longer considered a new technology, financial institutions like Citi continue to find novel ways to integrate the tech into their offerings. Citi has incorporated BNPL into its Citi Pay suite of services, launched […]
The Consumer Financial Protection Bureau (CFPB) recently passed new regulations that grant it expansive oversight over digital wallet and payment apps, such as Venmo and Apple Pay, effectively treating these companies as traditional financial institutions. The CFPB’s rule takes a one-size-fits-all approach with a low threshold for covered companies, stifling innovation in digital payments while […]
US share prices slumped after the central bank cut interest rates for the third time in a row but its economic projections signalled a slower pace of cuts next year. In a widely expected move, the Federal Reserve set its key lending rate in a target range of 4.25% to 4.5%. That is down a […]
The Dow plunged Wednesday on a disappointing outlook from the Federal Reserve. In the process, the blue-chip index extended its losing streak to 10 days — the longest such stretch since Gerald Ford was president. The Dow Jones Industrial Average ended the day down about 1,123 points, or 2.6%, after the Fed indicated in a […]
Buy now, pay later firm Sezzle’s shares plunged on Wednesday after Hindenburg Research disclosed a short position, citing risky lending practices alongside a decline in customers and merchants. The company, however, denied these allegations, calling them “misleading and out of context”, and said they “remain confident” in the outlook that was provided in conjunction with […]
Mastercard has joined forces with the Bank of Punjab (BOP) to enhance the bank’s proposition across consumer debit and credit, affluent portfolio, and loyalty offerings. The collaboration seeks to transform the bank’s digital ecosystem and its customers’ digital experience. Customers of BOP’s priority banking program, KHAAS, will now benefit from Mastercard’s World and World Elite […]
Honda and Nissan are discussing a possible merger, potentially bringing together two Japanese automaking titans that have recently fallen on hard times. The companies said in statement that they have been in talks, but they offered no details or timeframe for when a deal – if one should develop – may be completed. It’s also […]
Shares of Kioxia (285A.T), opens new tab soared 14% in their market debut on Wednesday, valuing the Bain-backed chipmaker at more than 890 billion yen ($5.80 billion) and highlighting strong investor demand for the third biggest IPO in Japan this year. Kioxia, a major manufacturer of memory chips, raised 120 billion yen after pricing its […]
Mastercard and Dgpays collaborate to enhance digital payments, fostering innovation, inclusion, and financial growth across EEMEA. Mastercard has announced a strategic partnership with Dgpays, a leading financial technology provider, to advance the adoption of digital payment solutions for consumers and businesses across Eastern Europe, the Middle East, and Africa (EEMEA). As part of the partnership, […]
Mastercard forecasts transformation in authentication, fraud prevention and B2B transactions as cybercrime risks reach US$10tn by 2025 As global cybercrime threats loom ever larger, Mastercard has unveiled plans to reinvent digital payments security through a combination of artificial intelligence and advanced authentication systems. The payments giant’s vision extends far beyond conventional security measures, encompassing a fundamental reshaping […]
