The US economy added more jobs than forecast in November while the unemployment rate ticked higher as the labor market rebounded from a month negatively impacted by severe weather and labor strikes. Data from the Bureau of Labor Statistics released Friday showed 227,000 new jobs were created in November, just above the 220,000 expected by […]
Google sued the Consumer Financial Protection Bureau on Friday, challenging the agency’s decision to place Google’s payment division under federal supervision. In a copy of the lawsuit provided by Google, the company said the CFPB’s supervision would be a “burdensome form of regulation” imposed based on a “small number of unsubstantiated user complaints.” The CFPB’s […]
Digital financial platform, Ribbon, is gearing up for its next big move to help non-resident Indian diaspora in the UK, as it announces its partnership with Tribe Payments, the digital payments and infrastructure orchestrator that specialises in issuer and acquirer processing. Ribbon is a carbon-neutral digital financial services super-app that was founded in Gibraltar in March 2020 by Ashesh Jani and Suchit Punnose. The multi-purpose […]
Of 2,000 UK adults examined by Tunic Pay, the anti-fraud fintech firm, and Opinium, the market research consultancy, only one in five (21 per cent) said social media platforms were doing enough to tackle payment scams. Firms like TikTok, Facebook, X and Instagram all came under fire in the Tunic Pay survey as it set […]
The Federal Deposit Insurance Corporation has started to more closely track financial technology companies that partner with banks across the U.S., Bloomberg News reported on Wednesday. An internal database will help FDIC examiners track third parties that work with banks, and anticipate potential vulnerabilities before they become a problem, the report added, citing people familiar […]
Over 60,000 small and medium enterprises (SMEs) in the UK will benefit from a new banking and payments offering following a new partnership between banking group, Lloyds and paytech, PayPoint Group. Merchants can now utilise Lloyds’ services will to further improve how they interact with the PayPoint and Handepay network of merchants. Having been a part of the PayPoint Group since 2021, the […]
The November jobs report is expected to show hiring rebounded last month after hurricanes and a strike by Boeing (BA) workers weighed heavily on the October report. The Bureau of Labor Statistics’ monthly jobs report, slated for release at 8:30 a.m. ET on Friday, is expected to show nonfarm payrolls rose by 215,000 in November […]
Donald Trump has named venture capitalist David Sacks as his choice for the newly created role of White House artificial intelligence (AI) and cryptocurrency czar — “two areas critical to the future of American competitiveness,” he wrote in a Truth Social post. Sacks is the co-founder of venture capital firm Craft Ventures and was the […]
Visa, a global leader in digital payments, hosted its first Open Payments Session in the Kingdom, bringing together regulators, subject matter experts, merchants, and financial services representatives to explore best practices and thought leadership shaping the future of payments. The forum focused on the evolving landscape of digital payments, driven by increased smartphone penetration and […]
The European Central Bank (ECB) has published its second progress report on the digital euro’s preparation phase, which was launched on 1 November 2023, and is setting the groundwork for the potential issuance of a digital euro. The digital euro project is a European initiative designed to benefit millions of citizens across the euro area. […]
Salesforce shares were up 9% on Tuesday after the company’s fiscal third-quarter earnings report showed revenue and fiscal fourth-quarter guidance that exceeded analysts’ expectations. Here’s how the company did compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: $2.41 adjusted vs. $2.44 expected Revenue: $9.44 billion vs. $9.34 billion […]
BlackRock said Tuesday it will acquire HPS Investment Partners for $12 billion in stock, as the world’s largest asset manager looks to grow its presence in the highly popular private credit space. “We have always sought to position ourselves ahead of our clients’ needs. Together with the scale, capabilities, and expertise of the HPS team, BlackRock […]
