Exxon Mobil on Friday reported first-quarter earnings that missed expectations as the industry came under pressure from eroding refining margins and collapsing natural gas prices. Exxon’s stock is down more than 3%. Here is what Exxon reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per […]
Inflation showed few signs of letting up in March, with a key barometer the Federal Reserve watches closely showing that price pressures remain elevated. The personal consumption expenditures price index excluding food and energy increased 2.8% from a year ago in March, the same as in February, the Commerce Department reported Friday. That was above […]
Digital payments are becoming increasingly popular on King’s Day, especially when buying a beer or paying to use a toilet. Last year, 30 percent more Tikkie transactions were made on the national holiday, compared to 2022. The number of Tikkie payments on King’s Day last year was six times higher than on a normal day. […]
The world’s first ad-subsidised payments network (ASPN), Zilch, selects AWS to charge its artificial intelligence (AI) and machine learning (ML) engine Zilch, the world’s first ad-subsidised payments network (ASPN), has extended its collaboration with leading cloud provider Amazon Web Services (AWS) to accelerate the rollout of artificial intelligence (AI) and machine learning (ML) innovations across […]
Alphabet went into its earnings report on Thursday facing concerns about the growth of its core Google ads business and the company’s ability to generate profits from its hefty investments in artificial intelligence. For the time being at least, the company put Wall Street’s fears to rest. Alphabet topped analysts’ estimates, reporting revenue growth of 15% […]
DEROIT — Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create a “comprehensive EV value chain,” the Japanese automaker announced Thursday. The company said the new North American electric vehicle epicenter will include new assembly and battery plants as well as other facilities to support production of all-electric and fuel […]
This earnings season has been closely scrutinized due to concerns about a slower-than-expected economic recovery. Despite interest rates surpassing 7%, consumers seem inclined to continue traveling and making big-ticket item purchases. That was the key takeaway from Visa’s Q2 earnings report. The company posted a net revenue of $8.8 billion, marking a 10% year-over-year increase. This revenue […]
Real-time money movement (RTMM) is gaining traction worldwide. Although real-time payments only account for only a 1.2% share of the total payments volume in the US in 2022, transactions are expected to grow 364% by 20261. As more businesses and consumers expect faster, more efficient payments, this trend will only grow, with McKinsey predicting that […]
Since Elon Musk announced X’s intention to become a payments platform, the company has made significant strides. The social media platform secured licenses to transmit money in 25 states and has licenses pending approval in several others. Initial expectations for the platform are that X users will be able to tip each other and send […]
Walmart has introduced buy now, pay later loans through One, its majority-owned fintech startup. The move puts Walmart in competition with a similar offering from Affirm. Last year, Walmart announced its plan to offer BNPL services for self-checkout customers through Affirm at 4,500 of its U.S. stores. Since 2019, Affirm has been the exclusive provider of installment loans […]
Mark Zuckerberg started Meta’s earnings call by talking about artificial intelligence. Then he moved onto the metaverse, touting his company’s headsets, glasses and operating system. He spent almost the entirety of his opening remarks focused on the many ways Meta loses money. Investors weren’t into it. Meta shares tumbled as much as 19% in extended trading on […]
Ford (F) reported first quarter results after the bell that beat expectations on Wednesday, with its changing product game plan front and center along with its focus on gas and hybrid offerings. Ford also boosted some guidance metrics but not its full-year profit outlook. For the quarter, Ford reported revenue of $42.8 billion, beating estimates […]
