Cisco (NASDAQ: CSCO) on Monday completed its $28 billion acquisition of Splunk. The networking giant paid $157 per share in cash for Splunk, a powerhouse in data analysis, security and observability tools, in a deal first announced in September 2023. Cisco plans to leverage Splunk’s AI, security and observability capabilities complement Cisco’s solution portfolio. Cisco […]
Category: Top News
Embracing the Era of Embedded Finance
Whether as consumers or merchants, simplicity is key when it comes to purchasing goods and services. While merchants have historically offered in-app payment options, this is merely scratching the surface. Embedded finance represents a paradigm shift, integrating a spectrum of financial services into non-financial applications. Embedded finance is rapidly replacing embedded payments as the ultimate […]
Bank of Japan ends the world’s only negative rates regime in a historic move, abandons yield curve control
Japan’s central bank raised interest rates on Tuesday for the first time since 2007, ending the world’s only negative rates regime on early signs of robust wage gains this year. The Bank of Japan though cautioned it’s not about to embark on aggressive rate hikes, saying that it “anticipates that accommodative financial conditions will be […]
Cash vs Digital: How do digital government-to-person payments ease the lives of recipients?
Imagine having to take a day off work, travel a long distance and wait in line for several hours, rain or shine, to collect assistance or wage payments from the government. Now imagine having to repeat this process every month. This is the reality for millions of people worldwide whose livelihoods depend on government payments […]
Advantages of digital banking platforms for commercial real estate
While payments and treasury services span multiple industries, commercial real estate has unique considerations, including managing liquidity, sending payments, receiving rent and complex account structures. “Commercial real estate organizations of all sizes can benefit from JPMorgan Chase’s digital banking platforms. We’re focused on industry-specific issues—and solutions—to help clients optimize liquidity, gain insights into operating accounts and manage rent payments,” […]
With food inflation still hot, consumers turn to buy now, pay later to buy groceries and takeout
Money is tight, food prices are soaring, and that’s turning more and more Americans to buy now, pay later options to stay afloat. Last year, some 15 million consumers — or 6.5% of the US population — reported using BNPL installment loans to pay for groceries or manage their weekly food expenses, according to research […]
Stock futures are little changed as investors await fresh Fed guidance
Stock futures were little changed on Sunday, as Wall Street awaits guidance on monetary policy from the Federal Reserve this week. Futures tied to the S&P 500 ticked up 0.1%. Dow Jones Industrial Average futures hovered near the flatline, while Nasdaq-100 futures added 0.2%. Inflation concerns have pressured stocks in recent days, with the S&P 500 set to enter Monday trading riding a […]
Nippon Steel says US Steel acquisition wouldn’t cause layoffs, plant closures
Nippon Steel said Friday that its proposed $14.9 billion acquisition of U.S. Steel would not result in any layoffs or plant closures as the pending deal faces opposition from President Biden and scrutiny from unionized steelworkers. Japan-based Nippon Steel, which announced the proposed acquisition in December, released a statement about the deal that looked to […]
Deutsche Bank cuts bonuses over botched Postbank IT integration
Deutsche Bank has reduced the cash bonuses of management board members connected to last year’s bungled Postbank IT integration project. Bonuses were slashed by €1.95 million over what the bank calls, in its annual report, the “unacceptable” migration problems. The Postbank migration last summer saw 12 million customers and 50 billion data sets shifted to […]
GoCardless to buy Nuapay from EML Payments
GoCardless is creating a full-service bank payments provider through the acquisition of open banking business Nuapay from Australia’s EML Payments in a deal worth €32.75 million. EML is selling Irish firm Sentenial – which operates under the Nuapay brand – three years after buying the business for an upfront enterprise value of €70 million. UK […]
S&P 500 closes lower on inflation worries, notches second straight weekly loss
The S&P 500 fell on Friday and notched its second-straight weekly loss, with technology stocks under pressure as inflation concerns remain front and center ahead of the Federal Reserve’s policy meeting next week. The broad market index lost 0.65% to close at 5,117.09. The Dow Jones Industrial Average dipped 190.89 points, or 0.49%, to finish the session at 38,714.77, […]
Wholesale inflation rose 0.6% in February, much more than expected
Wholesale prices accelerated at a faster-than-expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy. The producer price index, which measures pipeline costs for raw, intermediate and finished goods, jumped 0.6% on the month, the Labor Department’s Bureau of Labor Statistics reported Thursday. That was higher than the 0.3% forecast […]