The Synapse bankruptcy saga continues to rock the BaaS world, marked by last week’s revelation of $85 million in missing funds. The plot thickened last week when former CEO Sankaet Pathak disclosed in bankruptcy court that funds were commingled, leaving the task of determining rightful...
As Father’s Day approaches, retailers are seizing on different paternal stereotypes to drive engagement and sales, from dad jokes to “dadcore” style to that tangle of unidentified, no-longer useful cables that so many dads seem to be unwilling to part with. Panera, for its part,...
Two American tech giants are reportedly facing new regulatory challenges in Europe. One case involves Apple’s App Store, while the other centers on Meta’s artificial intelligence (AI) assistant, Meta AI. The Financial Times (FT) reported Friday (June 14) that the European Commision (EC) will bring charges against Apple after determining that...
Yoox Net-A-Porter (YNAP) is reportedly exiting China amid weak consumer spending in that country. The Richemont-owned luxury eCommerce platform is moving to focus on its core and more profitable markets, Bloomberg reported Friday (June 14), citing an emailed statement from a Richemont spokesperson. The Net-A-Porter platform was launched in...
Saturday (June 15) marks Elder Abuse Awareness Day. As more baby boomers and seniors go online to get their banking done — making payments, investing and paying bills or taxes — the fraudsters are finding elder abuse of a financial nature to be quite lucrative....
As Gen Z shows an inclination for shopping from retailers’ own brands, major players are tailoring their private-label offerings to these young consumers’ desires and preferences. Walmart, for instance, recently relaunched its $2 billion No Boundaries fashion brand with an eye toward attracting new Gen...
After 30 years of barring foreigners from its banking sector, Ethiopia is reportedly considering allowing overseas banks to buy stakes in domestic lenders. A bill moving through the country’s legislature would allow overseas firms to buy stakes in domestic banks, set up subsidiaries, open branches,...
Canary Technologies raised $50 million in a Series C funding round to support its deployment of artificial intelligence for the hospitality industry. The company offers a Guest Management Platform and is rolling out guest-facing AI, Canary said in a Wednesday (June 12) press release. With...
Target reportedly lost market share in several of its key product categories in the first quarter. The retailer’s share shrank in food and household goods, clothing, electronics, homewares and furniture — categories that collectively account for 60% of its revenue, Reuters reported Friday (June 14), citing data...
