Federal tax receipts boom, powered by inflation

Tax receipts are booming, thanks in part to spiking inflation, a new government report shows. The Congressional Budget Office said Wednesday it now expects federal revenue this year to jump by a whopping $800 billion — equivalent to the Pentagon’s annual budget. That translates to a 19 percent increase, the biggest one-year hike in more […]

B2B FinTech FOO Expands Into Saudi Arabia

B2B FinTech provider FOO is expanding its operations with a goal of improving digital transformation in Saudi Arabia, according to a press release Tuesday (May 24). FOO’s services assist with building in-house solutions with a modular platform of microservices, giving personalized products to help with digital transformation. That comes with digitization growing among businesses in […]

Klarna to cut 10% of workforce as it braces for recession

Buy-now-pay-later provider Klarna intends to cut 10% of its workforce as it faces up to challenging trading conditions and the prospect of a recession. Buy-now-pay-later (BNPL) company Klarna has warned that it will have to cut “approximately 10%” of its workforce as it faces up to difficult trading conditions and the potential for an economic […]

How financial management tools can better serve consumers

A personalised approach that takes into consideration consumers’ wholistic financial needs – and their passions – will provide better outcomes Technology has created a swift evolution of the Personal Financial Management (PFM) industry. Financial advice and education once delivered via in-person visits to a financial advisor is now just a click away thanks to online […]

Stock futures rise following Tuesday’s losses in the Nasdaq

U.S. stock futures rose on Tuesday night after the Nasdaq Composite dropped during the regular session, following a warning of slowing growth from social media company Snap that hurt the tech-heavy index. Dow Jones Industrial Average futures rose 111 points, or 0.4%. S&P 500 and Nasdaq 100 futures climbed 0.5% and 0.7%, respectively. Nordstrom shares […]

Starbucks Exits Russia, Shuts Down 130 Coffee Shops

After 15 years of selling coffee and baked goods in Russia, Starbucks has announced that it has suspended all business activity in Russia. Following the steps of McDonalds, which announced last week that they would begin “de-arching,” or removing all its brand elements from Russia. McDonalds had more than 800 locations in Russia, Starbucks had […]

Airbnb to shut down domestic operations in China

Airbnb is shutting down its business in mainland China this summer due to mounting costs and domestic competition, reported CNBC. The online vacation rental platform first launched operations in China in 2016, spurred by enthusiasm from Chinese tourists who frequently use it while traveling abroad. But according to sources who spoke to CNBC, Airbnb’s China […]