After taking applications between November 2021 and January 2022, this month saw the official opening of Italy’s regulatory sandbox for FinTech innovation. As PYMNTS reported earlier this month, regulatory sandboxes have proven a hit with governments the world over, and since the United Kingdom launched...
The online retail sector that boomed in the U.K. during the pandemic has suffered from a wave of closures since the government eased COVID-19 restrictions, new figures show. The number of retail firms shutting down rose 40% year over year in the second quarter, the...
Pakistani FinTech startup Dbank has raised $17.6 million in a seed funding round, the largest ever in Pakistan. Founded in 2021, Dbank is in the process of building a user-centric digital banking system based on ethical banking. Although currently focused on the Pakistani market, the...
It has been said that there’s no hiding from inflation. The effect of increasing prices and the subsequent loss of purchasing power is so unavoidable and blunt in its impact that Nobel winning economist Milton Friedman likened it to taxation without representation. Add in a...
Overstock is feeling the pinch from rising prices on necessities like food and fuel, meaning consumer appetite for home furnishings has slowed to some degree. The company reported a 34% year-over-year dip in total net revenue to $528 million for the second quarter. The company...
Consumers are keeping their cars longer than ever these days amid a sharp decline in the number of new cars available and the higher cost of purchasing them due to rising interest rates and supply chain snags. Auto parts retailer O’Reilly Automotive is benefitting from...
A rebound in travel combined with increased demand for luxury apparel pushed Kering to new financial heights in the first half of 2022, with the company’s revenue for the first six months of the year up 23% from the same period in 2021. Kering’s group...
Payments-as-a-service (PaaS) platform mx51 has secured $32.5 million in a Series B funding round, according to a press release on Thursday (July 28). The funding will be used to expand its global footprint as the startup works to help banks, acquirers and merchants stay up...
Billionaire Jack Ma, one of China’s most noted entrepreneurs, could be giving up control of Ant Group. This move would further separate the company from affiliate Alibaba after regulators in the country turned up the heat on big tech firms more than a year ago,...
