Wells Fargo reportedly expects to see losses from real estate loans. CEO Charlie Scharf said Wednesday (May 31) at an event that there are significant risks in the office sector, Bloomberg reported Wednesday. “We look city by city, we look property by property to look at our exposures, and I...
A University of Oxford professor said the threat of artificial intelligence (AI) centers on “bias, discrimination and the environmental impact.” Sandra Wachter, professor of technology and regulation, said these are issues “right here, right now,” as opposed to the “science fiction fantasy” raised in a recent statement...
To extend its role in consumers’ day-to-day food routines, Instacart is leveraging artificial intelligence (AI) to offer consumers meal planning tools and other inspiration-finding capabilities. The online grocery giant announced Wednesday (May 31) that it is combining its own AI and data with OpenAI’s ChatGPT technology to roll out Ask Instacart,...
British neobank Monzo says it has reached profitability while reducing its annual losses. According to the bank’s annual report, Monzo reported net operating income of $266 million for the year ending February 2023, nearly doubling its income from last year. Monzo’s losses, meanwhile, came to...
It’s more than shoplifting. It’s organized retail theft. That’s been a common narrative for the past few years. During May, retailers such as Target, Dollar Tree, Home Depot, T.J. Maxx, Kohl’s and Foot Locker collectively identified inventory shrinkage, retail theft or both as contributing factors...
Wallet-as-a-Service provider Magic has raised $52 million in a round led by PayPal Ventures. The strategic funding round will help the company further its mission of “enabling web3 mass adoption” by serving as Wallet-as-a-Service (WaaS) provider for companies looking to bring customers to Web3, according...
Mastercard and Fabrick have expanded their partnership to develop embedded finance solutions for European businesses, financial institutions and FinTechs. The strategic partnership builds on the companies’ existing relationship and includes Mastercard making a minority investment in Fabrick, the companies said in a Wednesday (May 31) press release. “Being able...
Vartana has raised $20 million to grow its B2B sales closing and financing platform. The firm will use this Series B capital to continue its product innovation, scale its outreach to the software and hardware reseller market and other enterprises, expand the Vartana Capital Marketplace...
Dublin-headquartered NomuPay has raised $53.6 million to expand its cross-border payment platform. NomuPay’s Unified Payments Platform is built for regions seeing high growth in cross-border and eCommerce and currently simplifies payments throughout Southeast Asia, Turkey and Europe, the company said in a Wednesday (May 31) press release. The platform...
