The banking industry is facing several challenges concerning consumer deposits, according to Jennifer Piepszak, co-CEO of JPMorgan Chase’s consumer and community banking unit. Piepszak has predicted that consumer deposits will be “slightly down from here” due to factors such as the Federal Reserve’s quantitative tightening program...
It has been another rough quarter for nearly all merchants and retailers, but especially for businesses whose main sales center around nonessential items. Target’s much-anticipated quarterly earnings bore out much of investors’ fears, with a 3.4% drop in comparable digital sales attributed to a consumer pullback of purchasing...
Charity begins at home, or at least the general area of one’s home, and consumers show a penchant for supporting financial institutions (FIs) and banks that help those in need in the communities where they operate or have a physical presence. “Financial Institutions And Customer...
As aggregators, consumers, gig drivers and restaurants alike struggle to make the economics of on-demand food delivery work out in their favor, New York City is throwing its weight behind drivers. Per an announcement from NYC Mayor Eric Adams and from New York City Department of Consumer...
Payment technology firm payabl. has debuted a point-of-sale solution that lets merchants accept online and offline purchases from one terminal. The tool will first launch in Cyprus, payabl.’s home country, before a possible expansion into Europe, according to a Tuesday (June 13) press release provided...
Procurement and billing solutions firm Corentric has raised $315 million in capital. The funds, announced Tuesday (June 13), are in the form of a $250 million senior secured asset-based loan revolver from Bank of America and JPMorgan Chase, as well as a $65 million term...
Discover Bank has launched a fund to support startups working to improve people’s financial health. The $36 million Discover Financial Health Improvement Fund will back companies aiming to help low- and moderate-income people, communities and small businesses in the mid-Atlantic region, according to a Tuesday...
Finland’s Voima Ventures has closed a $97 million fund to support deep tech firms. The fund will back Nordic and Baltic early-stage companies focused on “science-driven entrepreneurship,” Voima said in a Tuesday (June 13) news release. “Now is the time to scale science-based solutions into...
Is Louis Vuitton luxury? Depends who you ask and what products you’re looking at. With that even a question among luxury consumers, Louis Vuitton is taking a page out of the Hermès playbook to reclaim its luxury status through one its most sought-after bags, the...
