The dollar fell and stocks struggled on Monday as investors trod carefully ahead of a U.S. presidential election of great consequence for the global economy, with a U.S. Federal Reserve interest rate cut also expected later in the week. In the U.S. presidential race, Democratic candidate Kamala Harris and Republican candidate Donald Trump remain virtually […]
Bank of America “has been, and plans to continue, implementing enhancements” to its AML/BSA and sanctions compliance programs, as it cooperates with regulators, the lender said in Tuesday’s filing. The bank’s discussions with regulators continue, “and resolution of these discussions may include one or more public orders by the regulators,” the filing noted. The bank […]
LONDON — Buy now, pay later firm Affirm launched Monday its installment loans in the U.K., in the company’s first expansion overseas. Founded in 2012, Affirm is an American fintech firm that offers flexible pay-over-time payment options. The company says it underwrites every individual transaction before making a lending decision, and doesn’t charge any late fees. Affirm, which […]
Many merchants are hesitant to take the plunge on new payment methods because they are concerned about the time or resource investment, as well as the ever-present threat of fraud. However, in many cases, the benefits of adopting emerging payments dramatically outweigh the drawbacks. For instance, many younger consumers might not qualify for a credit card, but […]
Third-person battle royale shooting game Off The Grid has released new character skins resembling the two candidates in the upcoming United States presidential election, leaving gamers calling the move “insane” and “wild.” Titled the “Save Democracy Content Pack,” the Nov. 2 gameplay trailer features character skins seemingly inspired by US presidential candidates Donald Trump and Kamala Harris, playing on […]
Oil prices rose slightly Friday on reports Iran was preparing a retaliatory strike on Israel from Iraq in the coming days. Brent futures gained 29 cents, or 0.4%, to close at $73.10 a barrel, while U.S. West Texas Intermediate added 23 cents, or 0.33%, to settle at $69.49. For the week, however, both contracts were still down […]
Berkshire Hathaway’s monstrous cash pile topped $300 billion in the third quarter as Warren Buffett continued his stock-selling spree and held back from repurchasing shares. The Omaha-based conglomerate saw its cash fortress swell to a record $325.2 billion by the end of September, up from $276.9 billion in the second quarter, according to its earnings […]
As the 2024 US elections draw closer, digital assets have become a political issue for the first time, as industry executives and advocates apply pressure on candidates to pass pro-industry policies and embrace the future of money. Clear and comprehensive digital asset policy in the United States remains elusive, as regulators like the Securities and […]
Shopify Ventures, Capital One Ventures, Accel, Bessemer, Coatue, Frontline Ventures, General Catalyst, Latitude and Thrive Capital joined the Series E for New York-based Melio. The funding follows a ten-fold increase in revenue since the last $110 million round three years ago. Melio’s platform integrates cash flow management, accounts receivable and accounts payable solutions to help […]
More than 30,000 Boeing workers will vote again Monday on whether or not to end a crippling seven-week strike. The result of that vote will have significant implications not just for them, but for the company, global travel and the broader economy. The deal is not significantly different from an offer rejected by nearly two-thirds […]
Super Micro investors continued to rush the exits on Friday, pushing the stock down another 11% and bringing this week’s sell-off to 45%, after the data center company lost its second auditor in less than two years. The company’s shares closed at $26.05, wiping out all of the gains for 2024. The stock had peaked at […]
House Republicans are warning against what they argue is regulatory overreach in bank-FinTech partnerships. The lawmakers — all members of the House Financial Services Committee – issued a letter Thursday (Oct. 31) to regulators at the Federal Reserve Board, Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corp. (FDIC) responding to […]
