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 […]
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 […]
