As consumers increasingly look to their financial institutions for insurance products, banks have an opportunity to meet this growing demand. A recent report from PYMNTS Intelligence and Franklin Madison shows that 44% of all consumers would turn to their financial institutions (FIs) for insurance needs, a trend that has been growing over the past few years. Based on insights […]
This week in the ongoing battle between retail giants Amazon and Walmart, the two companies are upping their discounting efforts in an effort to secure the loyalty of cost-conscious consumers. Amazon, for its part, is reportedly taking a tip from such eCommerce giants as Temu and Shein, gearing up to add a section featuring low-cost […]
Walgreens on Thursday announced plans to close a “significant” number of underperforming stores across the U.S. due to ongoing challenges with profitability and declining margins. The store closures are part of the company’s multi-year footprint optimization program. While Walgreens didn’t specify how many of its more than 8,700 stores will be affected, CEO Tim Wentworth […]
Nike (NKE) stock fell almost 14% on Friday in early pre-market trading after the retailer said it expects revenue to decline more than previously thought in the coming year. The company said Thursday it expects revenue to fall mid-single digits in 2025, including an expected 10% decline in the first quarter. Nike had initially guided […]
Volkswagen Group plans to invest up to $5 billion in electric vehicle startup Rivian, starting with an initial investment of $1 billion. The additional $4 billion is expected by 2026. It includes plans for $1 billion each in 2025 and 2026, followed by $2 billion in 2026 related to an expected joint venture to create electrical architecture […]
Shares of Nvidia (NVDA.O), opens new tab surged nearly 7% on Tuesday, snapping out of a three-session tailspin that had erased about $430 billion from the artificial intelligence chipmaker’s market value. Nvidia’s shares finished at $126.09, after a tumble that saw them lose around 13% from their June 18 close of $135.58. The drop followed a rally […]
Regions Bank has launched a new digital payments solution designed to streamline payment and billing processes for its commercial clients. Powered by BILL’s financial operations platform for small and medium-sized businesses (SMBs), the new Regions CashFlowIQ provides advanced accounts payable (AP) and accounts receivable (AR) capabilities and offers more choices for domestic and international payments, […]
Tencent Holdings-backed online lender WeBank has received regulatory approval from the mainland to set up a fintech subsidiary in Hong Kong, as the Shenzhen-based digital banking unicorn looks to grow outside its home market. WeBank was cleared to establish its wholly-owned Hong Kong unit with a capitalisation of US$150 million, according to a statement published last Friday by the Shenzhen bureau […]
As a new interpretive rule from the Consumer Financial Protection Bureau (CFPB) is set to give “buy now, pay later” customers more legal protections, the Better Business Bureau (BBB) is sharing tips for using these services wisely. “Buy now, pay later” is a service that many retailers offer to allow shoppers to space out smaller […]
Electric vehicle-maker Tesla and opponents of CEO Elon Musk’s $56 billion pay package clashed on Friday as they look to resolve the legal dispute over the package and billions of dollars in potential legal fees that hinge on its outcome. The automaker said in a court filing that the Delaware judge who voided Musk’s compensation […]
Banking regulators on Friday disclosed that they found weaknesses in the resolution plans of four of the eight largest American lenders. The Federal Reserve and the Federal Deposit Insurance Corp. said the so-called living wills — plans for unwinding huge institutions in the event of distress or failure — of Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America filed in 2023 […]
Digital wallets are the fastest growing payment method in the world, and Asia is leading the charge, according to the latest report by payments processing firm Worldpay. Globally, digital wallets accounted for 50% of e-commerce purchases and 30% of in-store purchases in 2023, accounting for $14 trillion in transaction value. That figure is expected to […]
