British banking providers have completed their Roadmap for Open Banking. That’s according to an announcement Monday (Sept. 9) from Open Banking Limited (OBL), which had gotten confirmation on the completed roadmap from the U.K.’s Competition and Markets Authority (CMA). This means that the nine banking providers mandated by the...
Huawei’s foldable smartphone has logged millions of orders, launching ahead of Apple’s AI rollout. As of Monday (Sept. 9) morning, the Chinese company’s website showed 3.1 million customers had pre-ordered the trifold phone. A report by CNBC notes that Huawei had begun pre-orders of the...
Discount retailer Big Lots has declared bankruptcy and sold itself to an investment firm. The company announced Monday (Sept. 9) that it had entered voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware, to facilitate its sale to an affiliate of Nexus Capital Management....
Ulta Beauty is transforming its brand image into a social powerhouse, capitalizing on a surge of digital engagement to elevate its market presence. During the company’s second-quarter earnings call (Aug. 29), CEO Dave Kimbell revealed that despite a modest net sales increase (0.9%) to $2.6 billion...
Nium is reportedly the latest company holding off on plans to go public. Prajit Nanu, CEO of the Singapore-based payments firm, told Bloomberg News in an interview late Sunday (Sept. 8) that Nium will instead focus on bolstering its workforce and expanding revenues, with an...
The value proposition for embedded finance becomes clearer by the day. Businesses see integrated, personalized payments and lending connected directly to their digital platforms. Consumers see new payment options added to their digital experiences. Nonbank financial institutions can offer new services within existing products. Banks...
Instant payments have captivated businesses and consumers with the promise of a more agile financial ecosystem. Despite widespread enthusiasm, however, the transition from traditional payment methods to real-time systems like the Federal Reserve’s FedNow® Service and The Clearing House’s RTP® network is experiencing hurdles. The...
The collapse of eCommerce startup Thrasio has reportedly triggered a fight between its former private equity backers. Oaktree Capital Management has written a letter to private equity (PE) firms Silver Lake and Advent criticizing them for their oversight of Thrasio, the Financial Times (FT) reported...
American regulators are reportedly probing whether tech giants are abusing their AI marketplace position. Among these companies under probe is Nvidia, the Wall Street Journal (WSJ) reported Sunday (Sept. 8). Sources tell the news outlet that the Department of Justice (DOJ) has already contacted the...
