Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers. The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday. The annual rate was 0.1 percentage point higher than […]
Super Micro Computer (SMCI) stock fell as much as 11% Wednesday, extending the prior day’s decline despite an apparent attempt from its CEO to dispel fears of the stock’s potential delisting by the Nasdaq. Shares closed the trading day down 5.5%. At the Reuters Next conference Tuesday, CEO Charles Liang said he is confident Super […]
Digital payments company Block will use its Afterpay buy now, pay later financing option as a “carrot” to lead customers to sign up for its Cash App debit card, one of the firm’s executives said last week. “The BNPL functionality on the Cash App card aims to attract more users,” Owen Jennings, Block’s business lead, […]
Klarna says its pay later options are now available to Apple Pay users in Canada. The Swedish payments company announced the new integration Wednesday (Dec. 11), saying it was available online and in apps for iPhone/iPad users with iOS 18 and iPadOS 18 or later. According to a company news release, Klarna is the first […]
Asia-Pacific markets were mixed Wednesday, after major Wall Street benchmarks declined ahead of key inflation data that could influence the Federal Reserve’s interest rate decision. China is reportedly kicking off its annual economic work conference on Wednesday to outline its economic policies and growth targets for next year. Hong Kong’s Hang Seng index reversed gains to trade […]
Adidas’ German headquarters was raided on Tuesday in connection with a yearslong tax investigation, the company confirmed to CNBC in a statement. Authorities are investigating customs and tax regulations for products imported into Germany over a roughly five-year period from October 2019 to August of this year, a spokesperson said. Offices at the company’s headquarters […]
As digital transactions play a role in the financial landscape, financial institutions invest heavily in fraud prevention tools. Efforts to combat fraud in routine digital payments have been successful, but a new challenge has emerged in the form of social engineering scams. According to the PYMNTS Intelligence report “The State of Fraud and Financial Crime in the U.S.: What FIs Need to Know,” these scams […]
Three dealers fell victim to the same sophisticated fraud scheme in just one week. The story, spreading through dealership break rooms across the country, is becoming all too familiar. A new wave of digital payment fraud has hit the auto industry hard, with a particularly nasty scheme targeting Chinese-speaking communities through WeChat. But this time, industry veterans are […]
The trucking industry is crucial to the national economy, transporting more than 72% of freight by weight. Outdated payment methods, however, hinder efficiency, prompting the search for faster, digital solutions. A PYMNTS Intelligence report, “Fast-Lane Finance: Accelerating Payments in the Trucking Industry,” in collaboration with Ingo Money, explores how the industry is overcoming challenges, adopting new technologies and improving […]
Early insights into holiday shopping trends show a growing movement toward emerging and alternative payment methods. As consumer spending data for Black Friday and Cyber Monday trickle in, buy now, pay later (BNPL) plans, in particular, continue to ascend in popularity. According to Adobe Research, BNPL companies have processed over $9 billion in purchases since […]
Comcast Cable CEO Dave Watson told investors on Monday that the company expects to lose more than 100,000 broadband subscribers during the fourth quarter as the market remains “competitively intense.” Comcast shares dropped nearly 10% following Watson’s remarks at the UBS Global Media and Communications Conference on Monday. Cable broadband growth has been in the […]
Oracle shares slid 7% in extended trading on Monday after the database software company reported fiscal second-quarter results that fell short of analysts’ estimates and issued a weaker-than-expected forecast. Here is how Oracle did compared to LSEG consensus: Earnings per share: $1.47 adjusted vs. $1.48 expected Revenue: $14.06 billion vs. $14.1 billion expected Oracle’s second-quarter sales grew 9% […]
