AI startup Cohere has been valued at $5.5 billion following a new funding round. As Bloomberg News reported Monday (July 22), this $500 million round brings Cohere’s total funding to $970 million. According to the report, Canada-based Cohere is the rare artificial intelligence (AI) startup creating massive large language...
As budget-strapped consumers seek deals to help alleviate the financial burden of their back-to-school shopping, brands are rolling out lower-priced and/or discounted goods to win over these customers. On Thursday (July 18), Walmart announced that it is offering thousands of under-$10 school supplies, including backpacks,...
A top global financial watchdog says the “shadow banking” sector needs more regulation. Writing Monday (July 22) to a group of finance ministers and central bank governors, Financial Stability Board (FSB) Chair Klaas Knot said recent “incidents of market stress and liquidity strains” have shown that non-bank financial institutions...
Innovation within payments and commerce is increasingly centered on fostering global financial interoperability and inclusion. Already, the first half of 2024 has been particularly action-packed for the payments industry, marked by significant technological advancements and strategic initiatives aimed at reducing transaction costs as a key...
Restaurant stocks have been struggling this summer, though it’s not quite clear why. As Seeking Alpha reported Sunday (July 21), weakening consumer confidence and consumer spending are likely the key reasons, though there could be another reason diners might be shunning quick-service restaurants, or QSRs....
A U.S. banking regulator has reportedly determined that many lenders aren’t prepared for risks. As Bloomberg News reported Sunday (July 21), a confidential assessment by the Office of the Comptroller of the Currency (OCC) said 11 of the 22 large banks it oversees have “insufficient”...
Santander-owned payments FinTech Ebury is reportedly planning to go public in the U.K. The London-based company is working with investment bankers from Goldman Sachs on the planned $2.5 billion initial public offering (IPO), the Financial Times (FT) reported Sunday (July 21), citing sources familiar with...
Revolut has reportedly denied thousands of British customers reimbursement requests after they were defrauded. This has led many of these consumers to seek help from the U.K.’s Financial Ombudsman Service (FOS), Bloomberg News reported Saturday (July 20). The report cited data from the FOS showing...
How often do you visit LinkedIn? The platform wants your answer to be “every day.” To that end, the Financial Times (FT) reported Sunday (FT), LinkedIn is offering artificial intelligence (AI)-powered career advice and has rolled out games to get its users visiting more often...
