News

Retail
Pandemic Drives Hertz To Declare Chapter 11 Bankruptcy
May 22, 2020

Hertz Global Holdings filed Chapter 11 bankruptcy late Friday (May 22) as the coronavirus pandemic continues to dry up travel and tourism and all but shut down the car-rental business. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...

Retail
Big-Box Retail CEOs Say Stimulus Checks Boosted Sales
May 22, 2020

If you want to know whether stimulus checks are working to rebuild the economy, just ask the world’s largest retailer. Walmart U.S. CEO John Furner, who oversees more than 4,700 stores, says the answer is yes. Get the Full Story Complete the form to unlock this...

Investments
Big Tech, Private Equity Put $10.4B In Indian Mobile Firm Jio Since April
May 22, 2020

Even amid the economic headwinds that are blowing on a global scale, some investors are finding opportunity in what are seen as longstanding or even permanent trends like the shift to digital commerce through mobile means. For example, Jio Platforms — India’s largest mobile commerce...

Investments
Grocery Startup Missfresh To Close On $500M In Expansion Financing
May 22, 2020

Beijing’s Missfresh Ecommerce Co., a Chinese grocery delivery startup, is expected to receive more than $500 million in expansion financing as COVID-19 has fueled demand for fresh food at home, sources told Bloomberg News. Get the Full Story Complete the form to unlock this article...

News
Today In Payments: China Drops GDP Target; Dubai Creating Free Trading eCommerce Zone
May 22, 2020

In today’s top news, China has opted not to set any economy growth forecast amid the uncertainty caused by the pandemic, and Dubai is creating a free trade zone for eCommerce. Plus, the Office of the Comptroller’s Joseph Otting is stepping down. Get the Full...

Delivery
Instacart Adds Shopper Safety Feature To App
May 22, 2020

Instacart, the online grocery marketplace, has added a safety app to ensure its shoppers are protected amid the COVID-19 pandemic, the San Francisco-based company announced on Friday (May 22). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...

Banking
IMF Report: Banking Profits Might Not Exceed Cost Of Equity In 2025
May 22, 2020

A large share of the banking sectors of nine advanced economies, by assets, may not be able to bring in profits higher than their cost of equity in 2025, according to a simulation exercise cited in the “Global Financial Stability Report” by the International Monetary Fund (IMF). Banks...

Security & Fraud
Data Breaches Impact Unemployment Benefit Applicants In Four States
May 22, 2020

Unemployed workers in at least four states who are coping with layoffs from the impact of the coronavirus now have another worry, NBC News reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...

Partnerships / Acquisitions
India Regulators Investigate Zomato-Uber Eats Deal
May 22, 2020

Zomato, an India-based food delivery startup, is reportedly being investigated by regulators for its purchase of Uber Eats India, which could be seen as violating the nation’s anti-competitive rules, sources told MoneyControl.com. Get the Full Story Complete the form to unlock this article and enjoy...