DETROIT — General Motors is set to report second-quarter results before the bell Tuesday. Wall Street expects GM to be the standout among the traditional Detroit automakers, with sales and vehicle prices stable during the first half of the year for America’s largest carmaker. Here is what analysts expect, according to average estimates compiled by LSEG: Earnings per share: $2.75 adjusted […]
Nearly all McDonald’s US locations will continue to sell the “$5 Meal Deal” after people flocked to the promotion amid rising food prices. Since its launch in June, the limited time offering is “resonating with our millions of customers,” and the company claimed the move was siphoning off business from its competition, according to an […]
International and local game developers are taking note of the mobile gaming and esports scenes in Saudi Arabia as the market’s value is revealed to be $1.8billion. This is only the beginning though as 67 per cent of the population have classified themselves as gamers. As popularity continues to grow, organisations are looking to establish […]
Mercuryo, the payments infrastructure platform, has launched fiat-to-crypto on-ramp services for four major banks and payment providers in Indonesia, enabling consumers to convert local currency into 40 different digital tokens. By launching on-ramp services, known as alternative payment methods (APMs), Mercuryo is enabling Indonesians to convert the Indonesian Rupiah (IDR) into the likes of Bitcoin, Ethereum and Tether tokens. Mercuryo […]
UK financial services firms currently spend over £21,000 per hour fighting financial crime and fraud through onboarding and compliance screening processes, according to the latest True Cost of Compliance report from LexisNexis Risk Solutions. In a study of 254 regulated UK financial services firms, LexisNexis Risk Solutions found compliance costs rose by 12 per cent in 2023, with […]
Lemonade, the US-based digital insurance company driven by AI and social impact, has marked the eighth consecutive year of giving back to a number of local and global charities selected by customers. As part of its ‘2024 Giveback’, Lemonade donated $2,112,608 to 43 nonprofits globally, supporting causes including healthcare, education, climate, global poverty, and animal […]
The leader of aerospace giant Boeing’s defense division said Sunday that the company is still fighting through issues that have delayed the construction of two new Air Force One presidential aircraft. Boeing received a $3.9 billion contract in 2018 to build two new 747-8 aircraft for use as Air Force One that would be delivered […]
China’s ruling Communist Party has set ambitious long-term policy goals at its most important political meeting on reform, but offered little detail on how to pull the world’s second-largest economy out of a worsening downturn. In a behind-closed doors meeting known as the third plenum, more than 360 members of the party’s Central Committee — […]
It all started with a software update. Microsoft’s “blue screen of death” upended government services and businesses across the country Friday, disrupting emergency call centers, banks, airlines and hospitals. While Microsoft said a faulty software update from U.S. cybersecurity firm CrowdStrike was responsible for the major IT outage, the incident brought attention to just how […]
Imagine a future where cars, through the integration of embedded finance, could become ‘intelligent digital tokens’. Tokens which can facilitate payments, financial flow management, data collection and more. Looking to make this future a reality, Toyota Financial Services Italy, the financial division of Toyota Group has become a corporate partner of Fintech District, the international […]
Stocks pulled back from record highs amid pressure across the technology sector after a global tech outage sent shockwaves throughout the market on Friday. The S&P 500 (^GSPC) ended the week down nearly 2% while the Nasdaq Composite (^IXIC) dropped more than 3.5% on the week. Both indexes had their worst weekly performance since April. […]
As fintechs and financial services firms turn their attention to cloud technology, many are coming across challenges. These range from information sharing to best practices and beyond. Looking to simplify the cloud adoption journey for firms, the US Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) has published a suite of resources. The report seeks […]
