Octane, a New York-headquartered fintech built to help individuals access financing for “major recreational purchases”, has bagged a $50 million Series E funding round. The round is described as “unique” for being composed entirely of existing backers, with Valar Ventures leading the funding and Rhode Island-based VC firm Upper90 also contributing. Founded in 2014, Octane […]
CVS Health on Wednesday reported second-quarter earnings that topped expectations, but slashed its full-year profit outlook, citing higher medical costs that have been squeezing the U.S. insurance industry. The retail drugstore chain also said Aetna President Brian Kane, the top executive at the CVS-owned insurance unit, will leave the company immediately based on the current performance and outlook for the […]
Shares of server company Super Micro Computer plunged 13% on Tuesday after the company announced fiscal fourth-quarter earnings that missed analyst expectations. The company also announced a 10-for-1 stock split, set to begin trading on a split-adjusted basis on Oct. 1. Here’s how the company did vs. LSEG estimates for the quarter that ended in June: Super Micro said […]
What’s going on here? GooglePay, AmazonPay, and other digital payment titans are gearing up to join India’s e-rupee pilot—potentially supercharging transaction volumes. What does this mean? The Reserve Bank of India (RBI) rolled out the e-rupee in December 2022 as a digital stand-in for physical cash. Initially, only banks could handle e-rupee transactions via mobile […]
The Olympics are a time for pushing the boundaries of what’s possible. Beyond the awe-inspiring athleticism, the Olympics also serve as a proving ground for technological innovation, particularly in the realm of payment systems. And with the news that for the Paris 2024 games, Visa has provided the most technologically advanced payment systems available — including contactless-enabled […]
TAIPEI, Aug 5 (Reuters) – Taiwan stocks (.TWII), opens new tab plunged a record 8.4% on Monday, with tech stocks including TSMC (2330.TW), opens new tab sliding as investors spooked by a poor outlook for the U.S. economy sold off one of Asia’s top performing markets. It was the worst one-day decline for the main […]
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 […]
