SVB Financial Group — the former parent company of Silicon Valley Bank — has filed for bankruptcy. The Chapter 11 filing does not include SVB Securities and SVB Capital’s funds and general partner entities, SVB Financial Group said in a Friday (March 17) press release....
Chloé is helping the buyers of its clothes and accessories prepare those items for resale. With its Spring-Summer 2023 collection, the French luxury brand is rolling out a digital ID that features labels that can be scanned with a smartphone to guarantee an item’s authenticity,...
During challenging economic times, Dollar General continues to resonate with customers who are looking for value and convenience. During its latest earnings report Thursday (March 16), the discount retailer credited its continued focus on its customers, and remains optimistic about its ability to meet...
The Federal Reserve’s FedNow real-time rail debut is imminent. Financial institutions (FIs) including banks and credit unions have been using services from Zelle to rails like the RTP Network from The Clearing House (TCH). Jim Colassano, SVP, RTP product management at The Clearing House; Meghan...
The past week’s been dominated by bank runs, by lifelines thrown to banks, by bank rescues. And yet, in the midst of a whipsaw week for tech stocks, there was other news. Earnings continued to trickle in, helping to send the FinTech IPO Stock Index...
Everyone loves a bargain, but small- and medium-sized business (SMB) retailers have been pulling back from promotional codes and rewards recently. As noted in proprietary data prepared for PYMNTS’ collaboration with Cybersource, “2023 Global Digital Shopping Index,” SMBs offer rewards and coupons at around half...
In the face of macro headwinds, FedEx is pulling on the operational levers it can pull. And that involves throttling back on some operations — including air and international activity. To that end, the shipping giant reported fiscal third quarter earnings that showed lingering weakness...
Treasury Secretary Janet Yellen isn’t playing favorites, just protecting the U.S. banking system. She told lawmakers Thursday (March 16) that “Americans can feel confident that their deposits will be there when they need them” in her prepared remarks before the Senate Finance Committee. “This week’s...
Eleven large U.S. banks are making uninsured deposits totaling $30 billion into First Republic Bank. The move ensures First Republic has the liquidity it needs, reflects the 11 banks’ confidence in that bank and in banks of all sizes, and shows the importance of regional,...
