There may be more bank mergers on the way. Treasury Secretary Janet Yellen told bank executives Thursday (May 18) that the industry may need more mergers, CNN reported Friday (May 19), citing unnamed sources. The report noted that the Treasury Department’s readout of the meeting, which included board members of...
Nigeria-based B2B eCommerce firm Sabi has raised $38 million in Series B funding. This funding round values the company at $300 million, TechCrunch reported Friday (May 19). Sabi acknowledged the report by retweeting a tweet by Lexi Novitske, general partner at growth-stage investor Norrsken22, that said, “Well, I guess the news is out.” Well,...
Specialty discount retailer Five Below has unveiled plans to expand through Simon’s retail portfolio, including its Premium Outlets. The expansion with Simon will encompass a range of products geared toward tweens, teens and beyond, according to a Thursday (May 18) press release. Five Below aims to...
Lululemon has made a minority investment in Australian recycling company Samsara Eco. The companies will collaborate to make recycled nylon and polyester from the apparel waste generated while producing Lululemon’s athletic apparel and use it to create brand-new apparel, Lululemon said in a Thursday (May 18) press release. “Nylon...
Amid inflation, shoppers are actively seeking out affordable options. This trend has prompted consumers to search for merchants whose prices are in line with their budget. This has proven advantageous for retailers like Ross Stores, which strive to offer the “best branded bargains possible at...
The FinTech IPO gathered 2.4% in a week that saw the last few remnants of earnings reports trickle in. And of course, beyond the revenues and various customer metrics detailed in those quarterly reports, there were firms that had non-earnings headlines of their own. Upstart...
PartsTech has raised $35 million to expand its B2B marketplace for the auto repair industry. With the money raised from this Series C funding round, led by venture capital (VC) firm OpenView, the company plans to enable auto repair shops to source all the parts and...
About a year ago, PYMNTS detailed how government stats and revisions to those stats can change the way we view eCommerce. The more online sales get, as measured as a percentage of the overall retail pie, the more firmly entrenched the digital shift is. Back then,...
U.S. lawmakers faced off Thursday (May 18) over two proposed stablecoin bills. Both bills under consideration would allow both banks and non-banks to issue stablecoins. It was the second time during the current congressional session that proposed stablecoin legislation has come to the floor, with the first hearing on...
