Specialty discount store Five Below is looking to appeal to a new demographic of customers with its Five Beyond concept, which sells items priced above $5 but “still below the rest,” according to the company website. The new store prototype officially made its debut during...
First Republic Bank is reportedly considering a sale after being downgraded by ratings agencies. The lender is also looking at options for boosting its liquidity, Bloomberg News reported late Wednesday (March 15), citing sources familiar with the matter. It’s the latest sign of upheaval in...
Square and the Social Change Fund United have launched an accelerator program for Black and Latino entrepreneurs. The new program called Forward includes funding, mentorship and coaching, Square said in a Tuesday (March 14) press release. “Because Square succeeds when our sellers succeed, we’re fully...
Lulus is not fast fashion. But that’s not what most shoppers think. Since its inception, the retailer has been clear about its focus on providing luxurious items at affordable prices. Co-founder and then-CEO Colleen Winter reiterated this message during an interview with Glossy in 2019,...
Stripe has raised $6.5 billion in a funding round that values the payments firm at $50 billion. The valuation, announced by the privately-owned company Wednesday (Mar. 15), is down from the $95 billion valuation Stripe reached in 2021, the latest indication of a difficult funding...
Much has been said about the potential new technologies like artificial intelligence (AI) and machine learning have in transforming fraud detection and fraud prevention across industries. But according to UK Finance’s Katy Worobec, managing director, economic crime, and Dianne Doodnath, principal, economic crime – remote...
New laws, and new investigations, often follow bank crises. And after the collapse of two banks and one self-liquidation in just five days, calls are growing both for a tightening of banking regulations, and investigations into the executives at the helm of the failed institutions: Silicon Valley Bank (SVB)...
There are no guarantees in life, except for insuring bank deposits up to $250,000. Or maybe more. In just about a week, three banks have failed, prompting a wide range of discussion about what could have been done, what should be done and what shouldn’t...
The pool of potential buyers of Silicon Valley Bank may be narrower than previously thought. The Federal Deposit Insurance Corporation (FDIC), which took over the failed bank Friday (March 10) and created a “bridge bank” to replace it, will probably only sell it to another...
