After weeks of creeping to the edge of collapse, First Republic Bank is no more. Regulators seized control of the struggling California lender over the weekend, with the Federal Deposit Insurance Corporation (FDIC) announcing Monday (May 1) it had sold the bank to J.P. Morgan...
The buyer-supplier dynamic is undergoing a modern transformation. “It really comes down to leverage,” Bob Purcell, CFO of B2B accounts receivable automation and digital payments platform Billtrust, told PYMNTS CEO Karen Webster in a recent discussion. Particularly amid today’s ongoing macro challenges, optimal management of...
Brits love rewards and place loyalty programs among the top factors considered when choosing where to shop, PYMNTS research has shown. And it’s no different in the credit card space, said Tim Chong, co-founder and CEO at U.K. credit card startup Yonder, where customers are...
Crocs’ better-than-expected Q1 results are currently being attributed to the increasing consumer interest in casualization, comfort, sustainability, and personalization. During Q1, the comfort footwear company, which includes the Crocs and Heydude brands, revealed robust direct-to-consumer (D2C) growth for both labels. Crocs’ D2C revenue increased by...
China is reportedly seeing a sharp increase in post-COVID travel and consumer activity. A Sunday (April 30) report by Bloomberg News, citing data from local media and the government, said that 19.7 million rail trips were made in China on Saturday (April 29), the first...
PNC and JPMorgan Chase were reportedly among the bidders vying to own First Republic Bank. U.S. regulators auctioned off the struggling bank Sunday (April 30), according to a report by Reuters. Sources told the news outlet the Federal Deposit Insurance Corp. (FDIC) is expected to announce a deal on Sunday night...
U.K.-based micromobility firm HumanForest has raised $15 million to boost its eBike technology. The company announced its Series A funding Friday (April 28), saying it would use the money to double the size of its fleet and develop its advertising technology platform and user app....
Federal regulators have cited Crypto and FinTech-focused lender Cross River Bank. The Federal Deposit Insurance Corp. (FDIC) issued a cease-and-desist order against the New Jersey-based bank due to its lending practices, the agency announced Friday (April 28). According to an order from the FDIC, issued March 8, Cross River...
Lemon8, the sibling app of TikTok, is steadily growing its user base while TikTok faces challenges on Capitol Hill and the first state-approved measure to ban it. The Lemon8 app, which like TikTok is owned by Chinese company ByteDance, appears to be a hybrid that...
