The Australian Dollar (AUD) depreciates against the US Dollar (USD) following the release of downbeat Judo Bank Purchasing Managers Index (PMI) data on Monday. The swift decline in riskier assets is driven by central banks’ rapid policy adjustments and increasing fears of a hard landing for the US economy. Additionally, the AUD receives pressure as […]
As shoppers look for financial tools to help them manage their budgets, those who are struggling to make ends meet are more likely to adopt buy now, pay later (BNPL) options than their financially stable counterparts. By the Numbers The PYMNTS Intelligence report “Redefining Retail: Consumer Finance Trends Driving the Evolution of Pay Later Plans” drew from […]
Chip giant Intel’s (INTC) stock price cratered than 26% in Friday trading, closing out one of its worst trading days in 40 years. The massive declines followed a disastrous second quarter earnings report Thursday during which the company shared anticipated third quarter earnings below Wall Street expectations and announced that it would be cutting 15% […]
It may appear to be a clever life hack: If you have a rewards credit card, use it to pay for your college tuition to earn valuable rewards. Depending on the type of school you attend, college tuition averages $11,260 to $41,540 per year, according to the College Board. By paying the bill with a rewards […]
Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, fueling fears of a broader economic slowdown, the Labor Department reported Friday. Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly revised 179,000 in June and below the Dow Jones estimate for 185,000. […]
Federal Reserve Chair Jerome Powell said on Wednesday interest rates could be cut as soon as September if the U.S. economy follows its expected path, putting the central bank near the end of a more than two-year battle against inflation but square in the middle of the nation’s presidential election campaign. The Fed ended its […]
The Bank of England (BOE) is urging UK banks to expedite their digital payment solutions as cash use declines. The BOE’s recent paper highlights the need for innovations that allow direct payments from bank accounts, bypassing credit and debit cards, to save time and costs for consumers and retailers. The British central bank is developing […]
For investors who are skeptical of Meta’s massive spending on artificial intelligence and whether it will pay off anytime soon, CEO Mark Zuckerberg is urging them to look to the present. After the company’s better-than-expected second-quarter earnings report on Wednesday, Zuckerberg and finance chief Susan Li rattled off all the ways that AI has helped the company grow faster than […]
Buy now, pay later services have rapidly grown in popularity, with 9% of consumers using them as of fall 2023. Some consumers may use credit cards to pay for popular BNPL plans such as Klarna, Afterpay and Affirm. However, Chase recently announced on cardholder statements that effective Oct. 10, 2024, Chase will no longer allow […]
While the Ethereum ETF’s approval by the SEC marks a significant regulatory shift towards digital assets, its performance remains uncertain The US Securities and Exchange Commission has approved the first spot Ethereum exchange-traded funds (ETFs). Trading for these ETFs began on July 23, 2024. This follows the successful launch of Bitcoin ETFs earlier this year, […]
Revolut has entered the PRA’s ‘mobilisation’ stage after receiving authorisation with restrictions to complete the build-out of their banking operations Revolut, the global fintech company with over nine million UK customers and 45 million globally, has entered the Prudential Regulation Authority’s (PRA) ‘mobilisation’ stage. This development follows Revolut receiving a UK banking license with restrictions, a significant […]
McDonald’s saw a drop in sales for the first time in years as it struggled to draw in cash-strapped customers amid higher menu prices. McDonald’s CEO Chris Kempczinski said that the company’s system “sustained significant inflationary cost increases” between 20 to 40%, depending on the market, over the last several years. “As we absorb these […]
