European Union inspectors visited Tesla Giga Shanghai to determine individual duty rates for the company amid Europe’s provisional tariffs on electric vehicle (EV) imports from China. On July 5, 2024, the Commission’s provisional tariffs on China-made EVs took effect. The EU member states have four months to discuss the European Commission’s provisional tariffs and implement […]
Federal Reserve officials at their June meeting indicated that inflation is moving in the right direction but not quickly enough for them to lower interest rates, minutes released Wednesday showed. “Participants affirmed that additional favorable data were required to give them greater confidence that inflation was moving sustainably toward 2 percent,” the meeting summary said. […]
As Walmart and Amazon leverage their paid membership programs to drive loyalty, the former is seeing millennials prove to be the most eager to subscribe. By the Numbers “Walmart+ Week 2024,” a new PYMNTS Intelligence report, digs into consumer trends regarding subscriptions and purchases during Walmart+ Week, drawing on a survey of more that 7,700 respondents in late June. […]
The Synapse bankruptcy case had another court hearing on Wednesday (July 3), this one with consumers testifying to their financial losses and another status report filed by trustee Jelena McWilliams. In an “urgent” supplement to her fourth status report, the former FDIC chair put the spotlight on a time-sensitive dispute with financial services database provider MongoDB. The trustee’s report, filed in […]
Bob’s Stores on Monday announced the impending closure of every one of its nearly two dozen clothing retail stores. The retailer started conducting “Going Out of Business” sales at its 21 locations in six Northeastern states to offload all of its merchandise late last week, according to Hilco Merchant Resources, one of the firms handling […]
Paramount Global is holding talks with other entertainment companies about merging its Paramount+ streaming service with an existing platform. If it reaches a deal, it may kick off a new wave of streaming partnerships that could put the entire media industry on firmer footing. Paramount Global leadership is having active discussions with other media and tech […]
The Supreme Court has ruled that a convenience store has the right to challenge a 2011 Federal Reserve ruling setting a cap on debit card swipe fees. Corner Post, a truck stop based in North Dakota, argued that the Fed’s swipe fee cap was higher than the “reasonable” limit established by the 2010 Dodd-Frank Act. […]
Tesla stock jumped over six percent on Monday morning, continuing gains that have the electric vehicle maker’s stock up over 19 percent so far in the past month. There is speculation as to why Tesla shares continue to climb into this week, and some believe it is because CEO Elon Musk followed Uber founder Travis […]
The Bank of America has moved to support Simply Asset Finance, a fintech that focuses on lending to SMEs, with a loan facility worth up to $120 million. The loan facility has an accordion feature to extend to $120 million, but the initial facility is for $60 million. The feature will allow Simpli to increase […]
Swiss fintech Fiat24 joins Web3-powered ONTO Wallet to offer users an easy entry into decentralized banking features. The Web3 innovation continues transforming how individuals interact with technology. Central to this transformation is the emergence of decentralized identity (DID) systems, which have the potential to stand as a reliable alternative to traditional identification methods. DID systems […]
Nike CEO John Donahoe appears to be on thin ice. The former top executive of eBay, who has been at the helm of Nike since January 2020, is starting to lose Wall Street’s confidence after the company capped off a lackluster fiscal year with more bad news. On Thursday, Nike warned that sales in its current quarter were expected […]
Summer air travel is expected to soar in the United States. The Transportation Security Administration screened a high of 2.99 million individuals on Sunday, June 23 — exceeding a record set just weeks earlier on May 24 — and the TSA is forecasting a record-setting July 4 holiday period. TSA expects to screen more than 32 million […]
