Amid rising revenues and decreased taxes, the Federal Deposit Insurance Corporation (FDIC) announced on Thursday (Feb. 21) that the banking industry pulled in $237 billion in 2018. The agency’s Quarterly Banking Profile also noted that net income for the industry stood at $59 billion, Bloomberg...
Amid the regulators looking into its Estonian money laundering scandal, the U.S. Securities and Exchange Commission (SEC) has reportedly initiated an investigation into Danske Bank. The financial firm said it was “co-operating” with the probe by the U.S. agency that has started along with a U.S....
In a new funding round led by Dragoneer Investment Group and Temasek Holdings, DoorDash notched a $400 million investment at a valuation of $7.1 billion. Existing investors in the food delivery firm — SoftBank Vision Fund, Sequoia Capital and DST Global — also participated, CNBC reported. Get the...
As Hong Kong gears up to roll out digital banking licenses, a few of the largest banks in the world are set to compete with online firms. The government plans to provide digital banking licenses to companies such as Ant Financial, Tencent, Xiaomi, ZhongAn, and...
Amid a year when well-valued tech companies plan to list their shares, Pinterest has reportedly made a confidential filing with the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO). The social media company is said to be looking for a $12...
It was easy for restaurants to get lured into a false sense of security as they watched during the early days of the great digital shift in retail. “Restaurants aren’t Amazon-able,” Olo CEO Noah Glass told Karen Webster, according to the prevailing opinion. Food, particularly prepared food,...
Consumers take a somewhat binary view of the features and functions that come packaged as innovative: They either believe those innovations can solve problems and, therefore, embrace them or the consumers go somewhere else that offers legacy features and functions. Get the Full Story Complete...
Global investment firm SoftBank’s Vision Fund led a $1 billion funding round for Flexport, a logistics and freight startup, according to reports. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
President Donald Trump told U.S. companies that they need to work harder to build 5G networks, and that they should lead by competition — not by blocking other companies, according to reports. Get the Full Story Complete the form to unlock this article and enjoy...
