Small business owners are increasingly in need of additional capital, with more than 60% indicating a greater demand for financing compared to just 12 months ago. But their reliance on business credit cards has proven insufficient, with more than half resorting topersonal credit cards to cover business expenses. Those are among the key findings from WalletHub’s […]
The commercial banking and payments industry is undergoing a powerful metamorphosis. The onset of new technology has drastically altered corporate and consumer expectations. With so much flux, businesses are constantly working to stay competitive, mitigate risks, and set themselves up for the next wave of transformation. In his new report, Movements in Global Commercial Payments and […]
Daimler Truck agreed to a new labor contract on Friday with over 7,300 hourly workers represented by the United Auto Workers (UAW) at six facilities in the U.S. South, averting a strike at the 11th hour. “For months, we said that record profits should mean a record contract with no concessions,” UAW President Shawn Fain said […]
Microsoft shares rose as much as 5% in extended trading on Thursday after the software maker issued fiscal third-quarter results that outdid Wall Street’s expectations. Here’s how the company did in comparison with the consensus from LSEG: Microsoft’s total revenue grew 17% year over year in the quarter, which ended on March 31, according to a statement. […]
Real-time money movement (RTMM) is gaining traction worldwide. Although real-time payments only account for only a 1.2% share of the total payments volume in the US in 2022, transactions are expected to grow 364% by 20261. As more businesses and consumers expect faster, more efficient payments, this trend will only grow, with McKinsey predicting that […]
This earnings season has been closely scrutinized due to concerns about a slower-than-expected economic recovery. Despite interest rates surpassing 7%, consumers seem inclined to continue traveling and making big-ticket item purchases. That was the key takeaway from Visa’s Q2 earnings report. The company posted a net revenue of $8.8 billion, marking a 10% year-over-year increase. This revenue […]
DEROIT — Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create a “comprehensive EV value chain,” the Japanese automaker announced Thursday. The company said the new North American electric vehicle epicenter will include new assembly and battery plants as well as other facilities to support production of all-electric and fuel […]
Alphabet went into its earnings report on Thursday facing concerns about the growth of its core Google ads business and the company’s ability to generate profits from its hefty investments in artificial intelligence. For the time being at least, the company put Wall Street’s fears to rest. Alphabet topped analysts’ estimates, reporting revenue growth of 15% […]
Walmart’s majority-owned fintech startup One has begun offering buy now, pay later loans for big-ticket items at some of the retailer’s more than 4,600 U.S. stores, CNBC has learned. The move puts One in direct competition with Affirm, the BNPL leader and exclusive provider of installment loans for Walmart customers since 2019. It’s a relationship that the Bentonville, Arkansas, retailer expanded recently, […]
Should buy now, pay later loans impact your credit score? That’s been an important question ever since Apple announced in February that it would begin reporting loans from its Apple Pay Later service to Experian. Many observers thought that might be a game-changer for the BNPL industry. However, as the New York Times is reporting, there hasn’t […]
Music streaming giant Spotify has announced record profits of over €1bn (£860m) after a year of cutting costs and laying off staff. The Swedish company has been growing its user base for years, offering subscribers access to podcasts and audiobooks. But its quarterly gross profit came at the expense of missing its forecast for monthly […]
Tesla reported a 9% drop in first-quarter revenue on Tuesday, the biggest decline since 2012, and missed analysts’ estimates, as the electric vehicle company weathers the effect of ongoing price cuts. The stock jumped in extended trading after CEO Elon Musk told investors that production of new affordable EV models could begin sooner than expected. Here’s what […]
