As inflation exerts its influence on consumer purchasing decisions, off-price retailers are benefiting. Among the off-price retailers, TJX Companies has recently reported benefiting from the patronage of Gen Z consumers, a demographic known for their budget-conscious shopping. Now, another retailer, Ross Stores, has emerged as...
Drug cartels are reportedly disguising their ill-gotten gains as routine money transfers by using remittances. A surge in legitimate remittances from migrant workers has inadvertently made it easier for drug cartels to hide their profits by sending small transfers from the United States to individuals across Mexico...
Payments innovation and digital-first shopping in India is a success story 15 years in the making. Its success can serve as a global playbook for creating an inclusive payments, commerce and financial services culture using mobile technology. The demonetization of cash began in 2016 and...
The eagerly anticipated earnings release for Walmart beat analyst predictions, showing how efforts by the Bentonville-based retailer to increase market share and grow its customer base may be paying off. Per the company’s earnings release, Walmart U.S. comp sales rose 6.4% quarterly, led by a...
The FinTech IPO Index slid 2.8%, as earnings continued to come in, particularly from companies based overseas. Katapult shares led to the downside through the past five sessions, with shares down 23% during that time. The company said in its most recent earnings announcement earlier in...
Etsy, eBay and Craigslist marked the “first generation” of ReCommerce sites — where anybody could sell just about anything to anyone. Etsy, Poshmark and Depop took the concept a bit further, with direct eCommerce conduits to higher-end fashion. As Jelena Zec, director of venture investing...
The digital age is reshaping behavioral norms and business opportunities. The 21st century commercialization of innovations like blockchain-based cryptocurrencies and generative artificial intelligence (AI) have created entirely new industries that have transformed the business landscape. For the most part, the federal government has let the...
Goldman Sachs Group is reportedly adding staff to its compliance department amid increased scrutiny of the industry from the Federal Reserve. The Wall Street firm plans to enlist several hundred new staffers to address concerns raised by banking supervisors, Bloomberg reported Thursday (Aug. 17). Goldman Sachs CEO David Solomon has...
The Consumer Financial Protection Bureau (CFPB) has taken action against Freedom Mortgage Corp. for engaging in illegal activities related to mortgage loan referrals. The CFPB found that Freedom provided real estate brokers and agents with various incentives, including cash payments, paid subscription services and catered...
