Asian equities slid on Thursday, led by chip stocks as investors fret over the prospect of escalating trade tensions between the U.S. and China, while the yen was firm after scaling a six-week high following suspected interventions by Tokyo. The U.S. dollar loitered closed to its weakest in four months against a basket of currencies […]
The American Fintech Council, the industry association representing responsible fintech companies and innovative banks, has welcomed new recommendations regarding buy now, pay later (BNPL) but warns that providers need more time to ensure compliance. In May 2024, the Consumer Financial Protection Bureau (CFPB), the independent agency of the US government responsible for consumer protection in […]
Singapore-based fintech startup Qashier has launched ‘Treats’, a new payment-linked loyalty programme enabling customers to earn points by paying with their linked cards. Since piloting the loyalty programme with 7,000 customers in June 2024, Qashier merchants have seen an average of 26 per cent increase in customer purchases and an increased return rate of customers within an […]
General Motors’ goal of being capable of producing 1 million all-electric vehicles in North America by the end of 2025 in heavily in doubt, following comments Monday by CEO Mary Barra. The production capacity target for next year was one of the last EV targets the automaker hadn’t lowered or withdrawn as demand for EVs […]
Google is considering spending $23 billion to buy Wiz, a cloud cybersecurity startup with partners that include Amazon and Oracle, reports The Wall Street Journal. At close to twice what it spent for Motorola Mobility in 2012, it would be the most Google has ever paid for another company. The New York City-based Wiz offers […]
Japan likely spent some 3 trillion yen ($19 billion) overnight to lift the yen from a 37-year low versus the U.S. dollar, market estimates and data showed Friday, despite government officials remaining reticent on whether authorities intervened. The suspected fresh market foray apparently sent the dollar tumbling over 4 yen from 161 yen in a […]
Despite Republican attacks on President Joe Biden and his handling of the economy, a survey of economists finds that most believe inflation will be worse if Donald Trump returns to the White House, the Wall Street Journal reported. That’s not all: According to the quarterly survey of economic forecasters, most also belief Trump would be […]
KPMG has launched a new ‘Clear on Climate’ reporting hub, which will provide insight and guidance to organisations looking to better understand how to best report on climate-related matters. As the general public becomes increasingly interested in how companies report on net-zero commitments and climate-related issues caused by climate change, regulator and stakeholder scrutiny of financial reports is […]
With Consumer Duty’s next deadline looming, new research from engagement, data and customer journey platform Moneyhub reveals just how much work firms still have to do before they realise the business and consumer benefits of the Duty. A year on from the introduction of the Financial Conduct Authority’s (FCA) Consumer Duty obligations, as many as two-fifths of customers have not noticed […]
Macy’s sent a letter to its card users announcing an increase in the interest rate on its credit card to 34.49%, which appears to be a record high. Macy’s joins a group of other retailers now offering APRs over 30% on their store cards, including Petco, Good Sam, Michaels, and Exxon Mobil. Store-only cards charge […]
Co-branded cards offer a more versatile alternative to the traditional private label store cards. Consumers can use their Amazon Chase Visa card to purchase goods from Amazon and buy groceries at their local store. Chase can adjust the rewards program to encourage everyday spending while maintaining loyalty among brand customers and offering the same options […]
Has there been any high-profile stock more volatile than Tesla (NASDAQ: TSLA) lately? Following a burst of investor optimism on the back of the company’s latest delivery figures, the bears took over on Wednesday. A disquieting media report was responsible for the rapid mood change; this drove Tesla’s share price down by more than 8% across the Hump […]
