The Nasdaq 100 index posted its fourth consecutive session in the green on Thursday, closing up 0.6% at 19,576 points and reaching new all-time highs as tech stocks drive broader market gains. The S&P 500 also recorded its fourth straight positive day, rising 0.2% to a record closing level of 5,433 points, rebounding from a […]
The financial technology industry is embracing a new normal — with some industry executives and investors believing the sector has reached a “bottom.” Executives and investors at the Money20/20 event in Amsterdam last week told CNBC that valuations have corrected from unsustainable highs from the industry’s heyday in 2020 and 2021. Long gone are the […]
Shares of British money transfer company Wise dropped on Thursday after the company projected weaker annual revenue growth in the current fiscal year. The firm’s stock was down 9.8% at 1:30 p.m. London time, after falling as much as nearly 21% earlier in the session. The consumer payments company, which lets customers send or spend […]
AUBURN HILLS, Mich. — Stellantis is correcting what CEO Carlos Tavares described Thursday as “arrogant” mistakes by himself and the company in the automaker’s U.S. operations that led to sales declines, bloated inventories and investor concerns. Tavares said the convergence of three factors led to the problems: not selling down vehicle inventory fast enough; manufacturing issues, specifically […]
The Consumer Financial Protection Bureau took a key step toward enabling open banking in the U.S. by outlining guidelines for a standard-setting body. Open banking requires customers to share their bank and credit card account data with third-party financial technology companies, such as application programming interfaces. Defining and protecting consumers’ data rights is a critical part […]
DETROIT – General Motors is trimming its expected sales and production of all-electric vehicles this year, as U.S. adoption of EVs occurs slower than expected. GM Chief Financial Officer Paul Jacobson said the company now expects production of its all-electric vehicles to range from 200,000 to 250,000 this year, down from a previously announced range of 200,000 […]
A new report from Visa digs deep into what they call “fintech-forward” consumers, who embrace diverse platforms, apps, and innovative payment methods for financial management. The How Digital Maturity Shapes Consumer Financial Behavior report, in collaboration with polling firm Ipsos, looked at six personas representing different financial mindsets. The most affluent and open to new experiences are […]
On Wednesday, investors will digest one of the most important data points that will shape future Federal Reserve interest rate policy: May’s Consumer Price Index (CPI). The inflation report, set for release at 8:30 a.m. ET, will come just ahead of the central bank’s policy decision at 2 p.m. ET. It’s expected to show headline […]
HSBC and BNY Mellon are among the early adopter programme participants for Quantexa’s Q Assist context aware generative AI technology suite. Quantexa describes itself as an AI, data and analytics software company focused on “decision intelligence” that helps organisations make operational decisions with data. The firm says its new Q Assist suite will help customers […]
Tesla’s controversial CEO Elon Musk, and his massive wealth, are front and center in a shareholder vote this coming week. Five months ago, a Delaware judge threw out the largest pay package in history, then worth more than $50 billion, that Telsa’s very friendly board had given Musk in 2018. Now, Musk and the board […]
The gold mining industry is struggling to sustain production growth as deposits of the yellow metal become harder to find, according to the World Gold Council. “We’ve seen record first quarter mine production in 2024 up 4% year on year. But the bigger picture, I think about mine production is that, effectively, it plateaued around […]
Shoppers are particular about what payment methods they like using and are letting retailers know. According to a new survey from payment service company Adyen, 55% of consumers will abandon a purchase if they can’t pay how they want. More than a quarter (27%) of consumers say they don’t carry wallets anymore and instead are […]
