Welcome to Five at Five, your late look at the day’s payments and commerce news. Coverage includes two stories about the trade war that is taking shape, and two more stories about the latest Amazon moves, including in Europe. There is also acquisition news from the world of digital money.
The theory is that a strong U.S. economy, buttressed by record employment and enthused consumer spending, will mean U.S. businesses can withstand a trade war better than other nations. The trouble at iconic American company Harley-Davidson shows why this protection will extend better to some firms than others.
Amid the trade war that is still taking shape between the United States, China and several other countries, Treasury Secretary Steve Mnuchin has stated that investment controls are needed with the aim of protecting U.S. technology interests.
The expansion of the platform underscores Amazon’s aim to serve the corporate market. Amazon Business launched in the U.K. last year and, with an entrance in Italy and Spain, it is now up and running in five European markets where it offers consumer-focused eCommerce.
The eCommerce retailer is organizing items by grade or category, such as school supplies and “everyday essentials,” in its Back-to-School store.
If the deal is finalized, Uphold’s compliance footprint will be expanded, as well as its customer base and service offering. The acquisition will also offer JNK clients access to all of Uphold’s crypto to fiat trading pairs and assets.