Payments platform Tilia has raised $22 million and named a new chief executive. The San Francisco company announced Tuesday (Mar. 14) it had received strategic funding from Korean FinTech Dunamu, and named executive chairman Brad Oberwager as CEO. “The investment will help Tilia to further scale its platform and address the growing...
Prosecutors and regulators are reportedly investigating Silicon Valley Bank and two of its executives. The United States Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) are each running their own investigations into the collapse of the bank and the stock sales made...
A top House Republican says Americans should be confident in the country’s financial system in spite of recent banking failures. “The Fed is doing what the Fed is supposed to do,” Rep. Patrick McHenry, chair of the House Financial Services Committee, told CNBC’s Squawkbox Tuesday...
The fast-fashion wars are opening an unlikely new front — the resale space — as retailer H&M and fashion reCommerce platform thredUP disclosed a new partnership on Tuesday (March 14). In announcing the H&M Pre-Loved resale shop powered by thredUP’s Resale-as-a-Service model, Sweden-based H&M is responding...
Grubhub’s chief executive is stepping down as economic pressures transform the landscape of on-demand delivery. On Monday (March 13), the Chicago-based aggregator, a subsidiary of Just Eat Takeaway.com, announced that CEO Adam DeWitt is stepping down at the start of May and that Howard Migdal,...
Retailers in Los Angeles are increasingly keeping products locked up in response to shoplifting. Stores in the city have seen a 2% increase in theft and robberies so far this year compared to the monthly average of the pre-pandemic years of 2016-2019, local news source...
Silicon Valley Bank’s downfall has reportedly brought more business to America’s larger lenders. Following last week’s failure of Silicon Valley Bank (SVB) — bookended by the collapse of Silvergate Bank and Signature Bank — JPMorgan Chase, the largest bank in the country, received billions in...
Digital Currency Group (DCG) is reportedly looking for new bankers for its portfolio companies following three high-profile bank failures. The cryptocurrency company has found through its search that lenders such as Santander, HSBC and Deutsche Bank are still willing to connect with crypto companies, CoinDesk reported...
Uber and Lyft have landed a victory in their battle to treat drivers as contractors. In a ruling issued Monday (Mar. 13), California’s 1st District Court of Appeals said that the two ride-hailing firms and other companies like them can continue to treat drivers in...
