Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas conflict could still widen in the key oil producing region. Brent crude futures gained 51 cents, or 0.6%, to $83.47 a barrel at 0636 GMT, […]
Google has a lot at stake as a federal judge weighs whether the tech giant’s search empire should be broken up. So does the rest of Silicon Valley. A landmark antitrust case pitting Google (GOOG, GOOGL) against the Justice Department entered its final stage this past week as prosecutors from the federal government and 14 […]
The US Federal Reserve Board is seeking feedback on a proposal to start operating its two large payments services seven days a week. Currently, both the Fedwire Funds Service and the National Settlement Service (NSS) operate Monday through Friday, excluding holidays. Under the proposal, both services would operate every day of the year. The operating […]
Wells Fargo has joined JP Morgan in revealing that US authorities are investigating the handling of complaints about P2P payments service Zelle. In an SEC filing, Wells says: “Government authorities have been conducting formal or informal inquiries or investigations regarding the handling of customer disputes related to fund transfers made through the Zelle Network.” JP […]
Mastercard has launched a new program to promote collaboration with startups worldwide seeking to expand digital payments. Dubbed the Start Path Acceptance program, this initiative allows Mastercard to address crucial challenges within the digital economy through strategic partnerships. Mastercard Teams Up with Fintech Innovators The payment giant’s global acceptance footprint has experienced remarkable growth, doubling […]
Societe Generale (SocGen) and the International Finance Corporation (IFC) have signed a Collaboration Framework Agreement to bolster sustainable finance in developing countries. As part of the agreement, signed at the World Economic Forum’s annual meeting in in January, IFC and SocGen will provide project co-financings and risk sharing agreements, assisting in the private sector’s mobilisation […]
Apple shares (AAPL.O), opens new tab jumped 7% on Friday as the iPhone maker’s record stock buyback plan and promise of sales growth brought back investors who have shunned the stock on concerns over weak demand and increased competition in China. The company late on Thursday forecast fiscal third-quarter sales that exceeded Wall Street’s modest […]
Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest in acquiring the company for about $26 billion, according to people familiar with the matter. The expression of formal interest comes as David Ellison’s Skydance Media, backed by private equity firms RedBird Capital and KKR, awaits word […]
The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, lifting hopes that the Federal Reserve will be able to cut interest rates in the coming months. Nonfarm payrolls increased by 175,000 on the month, below the 240,000 estimate from the Dow Jones consensus, the Labor Department’s Bureau of Labor […]
After three years of investigation, the Consumer Financial Protection Bureau officially closed its probe into PayPal and its subsidiary Venmo this week. According to PayPal, the investigation centered around Venmo’s unauthorized funds transfers and collections processes, along with related issues such as the handling of consumer payments when mistakenly directed to unintended recipients. PayPal states […]
OMAHA, Neb. — Warren Buffett’s annual shopping event, the pregame to Berkshire Hathaway’s annual meeting, is wowing shareholders flocking here this weekend. With over 20,000 square feet of showroom space and more than 50,000 items of inventory, the exhibit hall at the CHI Health Center features goodies from various Berkshire’s holding companies, from Brooks Running to […]
A 3% gain in the FinTech IPO Index this past week was led by the platforms. And in many cases, those firms have yet to report earnings — so, perhaps, let’s call this an anticipatory rally. Katapult, the lease-to-own platform, saw its shares leap 49.7% through the past five sessions. The company filed its 10-K […]
