Uber Eats is reportedly removing thousands of virtual brands it says have cluttered its platform. Company officials told The Wall Street Journal (WSJ) Monday (March 27) that these brands — delivery services that don’t have a physical storefront — exploded on food aggregator apps during...
Seventeen days after its collapse, Silicon Valley Bank has a new owner. First Citizens Bank, a North Carolina lender with a long history of purchasing failed banks, announced Monday (Mar. 27) that it was assuming ownership of all of Silicon Valley Bank (SVB’s) loans and...
If there is one thing that QED Partner Amias Gerety says needs to happen right away, it’s to stop using the world bailout to describe what happened when the FDIC stepped in to rescue Silicon Valley Bank. Gerety told Karen Webster that to have a...
With the first quarter of 2023 almost a wrap and many developed markets stuck in the latest crisis — collapsing banks — a lot of the smart money is focusing where the trouble isn’t, which is emerging markets from Latin America to Eastern Europe, the Middle...
The CE 100 Index gained 1.2% last week as investors got excited — again — about AI, and the possibility of sustained profits for in the buy now, pay later space. The Communications pillar gained 3%, followed by the Pay and be Paid segment, up...
“Small forest fires” that are “ultimately good for the forest.” That’s how Matthew Tillman, CEO at automated accounts payable (AP) solution OpenEnvoy, is looking at the banking crisis, he told PYMNTS CEO Karen Webster. Silicon Valley Bank’s collapse has forced many company founders to be...
This week marks the last week before food stamp benefits return to “normal.” At the end of March, increases to the Supplemental Nutrition Assistance Program (SNAP) approved by Congress during the pandemic will end for beneficiaries in most states, a change that chops roughly $90...
The global market for initial public offerings continues to struggle amid banking sector upheaval. That’s according to data published Sunday (March 26) by Bloomberg News, which found companies have $19.7 billion via initial public offerings (IPOs), down 70% year-over-year and the lowest comparable level since...
Two regional banks are reportedly competing to purchase failed lender Silicon Valley Bank. First Citizens BancShares and Valley National Bancorp have filed bids with the Federal Deposit Insurance Corp. (FDIC), Bloomberg News reported Saturday (March 25), citing people with knowledge of the matter. Sources said...
