Tesla is laying off 285 employees in the state of New York as part of a broader restructuring according to a WARN notice filed in the state. Most of these employees worked at the company’s Buffalo factory and a handful at a store and service center in the area per the filing. Earlier this week, […]
Schroder, a prominent investor in Revolut, reportedly believes the FinTech’s value has climbed 45% since last year Schroder, shareholder of Revolut Ltd., believes the company to be 45% more valuable compared to a year ago, indicating a growing interest among investors in the fintech sector. Global investment in fintech nosedived in 2023, plunging to a […]
The Reserve Bank of New Zealand has opened a consultation on the potential launch of a central bank digital currency. The central bank says the currency would be “digital cash”, backed by the government and sitting alongside notes and coins. Explaining the potential benefits of a CBDC, the Reserve Bank’s director of money and cash, […]
Nine Google workers were arrested on trespassing charges Tuesday night after staging a sit-in at the company’s offices in New York and Sunnyvale, California, including a protest in Google Cloud CEO Thomas Kurian’s office. The arrests, which were livestreamed on Twitch by participants, follow rallies outside Google offices in New York, Sunnyvale and Seattle, which attracted hundreds […]
The launch of Canada’s oft-delayed Real-Time Rail (RTR) payments system will now not happen until at least 2026, with new tech partners IBM and CGI brought in to the process. Following the completion of a second review, the RTR programme will resume with “renewed momentum,” says Payments Canada. Part of a multi-year, multi-system payments modernisation […]
Finmid, a German financial infrastructure provider targeting B2B marketplaces, has emerged from stealth with €35 million in early-stage equity funding. Blossom Capital, Earlybird VC, and N26-founder Max Tayenthal joined the round for Berlin-based finmid, which was founded in 2021 by former N26 staffers. Finmid argues that banking has become distant and impersonal, leaving small and […]
United Airlines said Tuesday that it lost $124 million in the first quarter, which it blamed on a three-week grounding of all Boeing 737 Max 9s after a panel blew off an Alaska Airlines Max jetliner in January. United indicated it would receive far fewer new planes from Boeing this year than it expected, and […]
Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon. Speaking to a policy forum focused on U.S.-Canada economic relations, Powell said that while inflation continues to make its […]
There is a growing disconnect between consumer-focused payment advances and commercial ones. And while it’s not new news that business-to-business (B2B) payments often lack the intuitive, user-friendly interfaces that have come to be viewed as table stakes in today’s digital age — with the revelation that emerging decision-makers are avid digital wallet users, embracing the consumerization […]
You’ve probably noticed that when you’re shopping online or sometimes in a retail store, you can select a buy now, pay later (BNPL) option, which is a type of installment loan that generally allows a consumer to buy something at the point of purchase with little or no initial payment and then pay off the […]
Tesla will lay off more than 10% of its global workforce, according to a memo sent to employees by CEO Elon Musk. The company’s shares closed down more than 5% on Monday. “As we prepare the company for our next phase of growth, it is extremely important to look at every aspect of the company for cost […]
Boeing on Monday defended the quality and safety testing on its 787 Dreamliner and 777 aircraft, days after one of the company’s engineers went public with allegations that the plane-maker took “shortcuts” to speed up production of the planes. The whistleblower, Sam Salehpour, last week said that Boeing’s 787 assembly put excessive stress on airplane […]
