On Monday Google will go to trial to defend against claims filed by the Department of Justice (DOJ) about some of our advertising technology. In court, we will show that ad buyers and sellers have many options, and when they choose Google they do so because our ad tech is simple, affordable, and effective. In short […]
Norfolk Southern’s board is examining allegations that CEO Alan Shaw engaged in an inappropriate workplace relationship, according to three people familiar with the matter. The company confirmed late Sunday evening it was probing Shaw over “possible conduct” that violated the company’s code of ethics and that it had hired outside legal counsel to investigate. The probe is in its early […]
Brazil’s central bank has been working on a digital real project for several years, beginning a first pilot phase in 2023 testing privacy and programmability functionalities through the implementation of a specific use case. Now, it has whittled down proposals for a second phase from 42 to 13, using the infrastructure already created to test […]
The report follows initial concerns raised by the FDIC and two other federal banking regulatory bodies in late July, which introduced specific guidance requiring all banks under its jurisdiction to monitor and regularly reconcile any accounts they hold or manage – no matter the source or type of relationship involved. The FDIC, Office of the Comptroller of the […]
Klarna, the payment processing service provider for e-commerce, is on target to cut its workforce in half to 2,000 by the end of 2025, if it continues to reduce roles at the same rate it has done for the last two years. Latest headcount forecasts from FXC Intelligence come after the firm analysed a return to profitability […]
Despite the post-covid hype surrounding subscriptions dying off, a new report from Stripe, the financial infrastructure platform for businesses has found that the subscription economy is still healthy. The Stripe report found that 49 per cent of businesses are planning investments in global expansion to reach new customers over the next twelve months. However, 69 per cent of […]
Stellantis, an automotive manufacturer, is recalling around 1.5 million Ram pickup trucks due to a software issue that can disable a vehicle’s electronic stability control (ESC). In a statement obtained by Reuters on Saturday, Stellantis explained that the affected pickup trucks’ anti-lock brake software may accidentally shut down the vehicles’ ESC. ESC systems are designed […]
Treasury yields fell Friday after August’s nonfarm payrolls report showed an easing labor market, fueling concerns of an economic slowdown. The yield on the 10-year Treasury was 1 basis point lower at 3.723%. The 2-year Treasury yield dropped 9 basis points to 3.665%. Yields and prices move in opposite directions. One basis point is equivalent to 0.01%. Nonfarm […]
President Joe Biden is prepared to block Japan’s Nippon Steel’s proposed acquisition of US Steel, two sources familiar with the matter said, a move that would deal a major blow to the $14 billion merger that has become a lightning rod in an election year as candidates on both sides of the aisle vow to protect American manufacturing. […]
Experian, the multinational data analytics and consumer credit reporting company, is partnering with Paylink, an affordability software and payments provider, to address affordability restrictions with debt consolidation loans. Through the new partnership, Experian will leverage the ‘ReFi’ product by Paylink, expanding access to credit for a wider range of consumers through the Experian Marketplace. This collaboration […]
Tabby, the shopping and financial services app for the MENA region, has agreed to acquire Tweeq, the Saudi-based digital wallet licensed by the Saudi Central Bank. Announced at 24 Fintech, Saudi’s flagship fintech event, Tweeq will partner with Tabby following the acquisition, pending regulatory approval, to expand its services within Tabby’s ecosystem and consumer scale. By offering accessible savings and […]
Job openings fell more than expected in July. The data comes as investors closely watch for signs of further cooling in the labor market amid speculation the Federal Reserve will cut interest rates this month. New data from the Bureau of Labor Statistics released Wednesday showed there were 7.67 million jobs open at the end […]
