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 […]
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 […]
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 […]
Walmart is pulling Juneteenth-themed products from its shelves after receiving backlash on social media from users who suggested the company was attempting to profit off of the federal holiday. Walmart received a negative response from many users on social media over products, including red velvet and cheesecake flavored ice cream, that came with a label […]
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 […]
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 […]
CNBC’s David Faber reported Monday that Broadcom had been gearing up to announce its acquisition of VMware as soon as Thursday, but the news could come sooner after several reports said the two companies were in talks. Some material terms still need to be finalized, and a deal could fall through, Faber said on CNBC’s […]
Snap shares plunged 30% in extended trading on Monday after CEO Evan Spiegel warned in a note to employees that the company will miss its own targets for revenue and adjusted earnings in the current quarter. The social media company will also slow hiring through the end of the year as it looks to manage […]
Openpay Group, which operates in the buy now, pay later (BNPL) space, is looking to raise $20 million in new funds, according to a Friday (May 20) Financial Review report. The report noted that about 85% of the book was covered through cornerstone pre-commitments pre-launch. Some of the early takers were investment and advice firms […]
Shreyans Mehta, CTO, at Cequence Security discusses what the admonishment of Barclays and Lloyds means for Open Banking APIs One of the promises of Open Banking was that it would level the playing field, making it possible for new entrants to compete with the banking behemoths but for that to happen there needs to be transparency. […]
The founder of Terraform Labs has a plan to revive the broken blockchain. What happened Earlier this month, the Terra (LUNA) blockchain effectively collapsed. The breakdown started when stablecoin TerraUSD (UST) lost its peg to the U.S. dollar and the built-in arbitrage mechanism failed to resolve the problem. At that point, panicked investors started selling Luna and TerraUSD hand over fist. However, Terraform […]
Milwaukee-based motorcycle company Harley-Davidson is feeling the sting of supply chain issues that have plagued major manufacturers for years. Now the company has been forced to pause production across all of its various motorcycles, with the exception of its LiveWire electric motorcycles. And it’s not just production that is pausing – shipments are also halted. […]
