Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes tension between two big online players, along with a major joint venture dedicated to mobility services. U.S. holiday sales are set for a boost, Facebook faces more hacking fallout and IPOs in the U.K. face significant challenges.
Online retailer eBay has accused Amazon of illegally targeting its best sellers in an effort to get them over to the eCommerce giant’s site.
The companies said they plan to create a joint venture company to be called MONET Technologies Corp. before the end of the fiscal 2018 year.
The National Retail Federation revealed that holiday sales growth will be higher than the average increase of 3.9 percent over the past five years. However, sales will grow at a slower pace than the 5.3 percent growth the retail market saw one year ago.
Under GDPR, companies that fail to safeguard their users’ data could face a maximum fine of €20 million ($23 million), or 4 percent of a firm’s global annual revenue for the prior year, whichever is higher.
Aston Martin and Funding Circle, two high-profile companies that went public in London, aren’t faring well as public companies — which bankers in the U.K. warned could hurt future IPOs for the remainder of this year.