The time to make final selections at the last full-sized Kmart in the continental United States is nearly up as the once retail giant turned out its signature blue light in New York. The Bridgehampton store, about 95 miles east of Manhattan, closed its doors for the final time Sunday night, leaving only one smaller […]
TAMPA, Fla. — SpaceX launched 20 spare OneWeb satellites Oct. 20 to strengthen the resiliency of French operator Eutelsat’s rival low Earth orbit (LEO) broadband network. Eutelsat said it had successfully contacted each satellite following lift-off on a Falcon 9 rocket at 1:13 a.m. Eastern from Vandenberg Space Force Base, California. Eutelsat spokesperson Katie Dowd […]
As sustainability and ESG (environmental, social and governance) concerns rise in importance, the digital banking sector is not immune to the shift. Regulatory pressures and growing consumer demand for responsible practices are driving the strategic direction of digital banking, with sustainability and ESG commitments playing a central role. But just how central are these values […]
There is a rising indifference to agency banks among fintechs, according to ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, which has released research into the attitudes of fintechs towards agency banks, with worrying implications for long-term relationships. The ClearBank report, ‘How well are fintechs served by banks? The state of agency banking […]
The $45 billion liquid staking sector is raising concerns among investors over the long-term price stability of cryptocurrencies tied to these protocols. Liquid staking creates more capital efficiency for investors by offering an equivalent of the initial staked token that can be deployed in other decentralized finance (DeFi) applications. However, liquid staking tokens (LSTs) could temporarily lose their […]
Reetika Grewal, head of digital, commercial bank and corporate and investment bank, Wells Fargo, and Sarah Lamont, investor, F-Prime Capital, joined Nikhil Lele, banking and capital markets, EY, to discuss the uptake of AI and progress in back office use cases, the importance of partnerships and user-centred design and the rebound of fintech valuations post-2022. […]
This sell-off looks like a great buying opportunity. As almost every investor knows by now, artificial intelligence (AI) has been driving the current bull market since its start in 2023. The launch of OpenAI’s ChatGPT has set off a new arms race in the industry, and generative AI technology could be as transformative as the […]
Reuters reports Wise said access to the system will allow it to bypass intermediary banks that process and settle funds in Japan, lowering fees and processing times. If Wise does as it aims, this could increase pressure and competition within the Japanese payments market. According to World Bank data, the cost of remittances in Japan is the […]
Oil futures fell on Friday, declining more than 7% on the week after data showed China’s economic growth slowed and investors digested a mixed Middle East outlook. Brent crude futures fell $1.39, or 1.87%, to $73.06 a barrel. U.S. West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or 2.05%. Brent settled more than […]
According to a recent study, there is no single touchpoint to reach Gen Z, although a significant 86 per cent of the generation believe that cashback and loyalty rewards play an important role when making a purchase. These findings, based on the ZBD ‘Gen Z Payments Study‘, a survey of over 2,000 18 to 27-year-olds in the […]
The Biden administration rang up a budget deficit topping $1.8 trillion in fiscal 2024, up more than 8% from the previous year and the third highest on record, the Treasury Department said Friday. Even with a modest surplus in September, the shortfall totaled $1.833 trillion, $138 billion higher than a year ago. The only years […]
PLAY, a platform integrating Web3 technologies into gaming, has partnered with TapNation, in a move hoping to bring mobile games to the forefront of the Web3 movement. Through the new partnership, PLAY plans to expand its ecosystem by integrating blockchain features into popular TapNation mobile games. With 60 million monthly active users and 1.4 billion […]
