Buy now, pay later firm Sezzle’s shares plunged on Wednesday after Hindenburg Research disclosed a short position, citing risky lending practices alongside a decline in customers and merchants. The company, however, denied these allegations, calling them “misleading and out of context”, and said they “remain confident” in the outlook that was provided in conjunction with […]
Mastercard has joined forces with the Bank of Punjab (BOP) to enhance the bank’s proposition across consumer debit and credit, affluent portfolio, and loyalty offerings. The collaboration seeks to transform the bank’s digital ecosystem and its customers’ digital experience. Customers of BOP’s priority banking program, KHAAS, will now benefit from Mastercard’s World and World Elite […]
US share prices slumped after the central bank cut interest rates for the third time in a row but its economic projections signalled a slower pace of cuts next year. In a widely expected move, the Federal Reserve set its key lending rate in a target range of 4.25% to 4.5%. That is down a […]
The Dow plunged Wednesday on a disappointing outlook from the Federal Reserve. In the process, the blue-chip index extended its losing streak to 10 days — the longest such stretch since Gerald Ford was president. The Dow Jones Industrial Average ended the day down about 1,123 points, or 2.6%, after the Fed indicated in a […]
More than one-third of U.S. consumers are struggling with cash flow shortages, forcing them to make tough choices about how they pay for everyday necessities. Millennials, lower-income consumers, and those living paycheck to paycheck are especially vulnerable. Those are some key takeaways from the recent PYMNTS Intelligence report “How People Pay: Cash-Short Consumers Drive BNPL Usage.” It’s based on a survey of […]
A new way to shop has been gaining popularity, and may have been used for holiday gifts. More Americans are using Buy Now Pay Later (BNPL) services. Some people have turned to the plan to avoid accumulating massive credit card debt. These programs allow consumers to make a purchase without paying the full price upfront. […]
Asia-Pacific markets were mixed Tuesday, tracking mixed gains on Wall Street as investors look toward the U.S. Federal Reserve’s decision stateside. Australia’s S&P/ASX 200 traded 0.78% higher to close at 8,314. Japan’s Nikkei 225 and Topix fell 0.24% and 0.37% to close at 39,364.68 and 2,728.2 respectively. South Korea’s Kospi slipped 1.29% to close at 2,456.81, while the Kosdaq dropped 0.58% […]
After topping $1 trillion in market cap on Friday and soaring 24% for its best day on record, Broadcom’s stock jumped another 11% on Monday, driven by increased price targets from Wall Street. The latest rally was spurred by Broadcom’s better-than-expected earnings report late Thursday, and an uplifting outlook for the first quarter. Broadcom, which sells semiconductors and infrastructure […]
Three dealers fell victim to the same sophisticated fraud scheme in just one week. The story, spreading through dealership break rooms across the country, is becoming all too familiar. A new wave of digital payment fraud has hit the auto industry hard, with a particularly nasty scheme targeting Chinese-speaking communities through WeChat. But this time, industry veterans are […]
Asia-Pacific markets were mixed Wednesday, after major Wall Street benchmarks declined ahead of key inflation data that could influence the Federal Reserve’s interest rate decision. China is reportedly kicking off its annual economic work conference on Wednesday to outline its economic policies and growth targets for next year. Hong Kong’s Hang Seng index reversed gains to trade […]
Adidas’ German headquarters was raided on Tuesday in connection with a yearslong tax investigation, the company confirmed to CNBC in a statement. Authorities are investigating customs and tax regulations for products imported into Germany over a roughly five-year period from October 2019 to August of this year, a spokesperson said. Offices at the company’s headquarters […]
As digital transactions play a role in the financial landscape, financial institutions invest heavily in fraud prevention tools. Efforts to combat fraud in routine digital payments have been successful, but a new challenge has emerged in the form of social engineering scams. According to the PYMNTS Intelligence report “The State of Fraud and Financial Crime in the U.S.: What FIs Need to Know,” these scams […]
