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B2B PaymentsPapaya Global Announces Group 11 As New Investor
Papaya Global, which works in global payroll and B2B payments, has a new investor in Group 11, a U.S. FinTech venture capital...
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LoansSenate Passes Bill To Extend PPP For SMBs
The U.S. Senate passed a bill Tuesday (June 3) amending the way the Paycheck Protection Program (PPP) works, extending the time for...
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RetailLVMH Eyes Ways To Change $16.2B Tiffany & Co Purchase
LVMH is considering walking back its deal to purchase Tiffany & Co. for $16.2 billion due to the effects the pandemic and...
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BankingMonzo To Cut 120 Jobs Due To Pandemic Fallout
U.K. digital bank Monzo will cut 120 jobs due to the impact of the coronavirus, Reuters reports. The news came from an...
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RetailRetailer New York & Co. Will Likely File For Bankruptcy
The parent company of New York & Co., the wear-to-work retailer for women, warned it may file for Chapter 11 bankruptcy protection...
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LoansTwo Republican Senators Hold Up PPP Amendment Bill
Two Republican Senators are holding up a bill that would extend the end date of the Paycheck Protection Program (PPP) from August...
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LoansTwo Banking Groups Call For Automatic PPP Loan Forgiveness
The Consumer Bankers Association and Bank Policy Institute, in a co-signed letter, have called on Congress to automatically forgive Paycheck Protection Program (PPP)...
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Real EstateManhattan Apartment Sales Fell 84 Pct In May
Condominium sales in Manhattan plummeted by 84 percent in May as the COVID-19 pandemic and protests following the death of George Floyd...
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InternationalSpain Could Slowly Open Borders To Tourists By End Of June
After previously setting July 1 as the date to reopen for international tourism, which comprises 12 percent of its output, Spain is...
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InternationalChinese Giants Baidu And Midea Launch Joint Smart Appliance Push
Homeowners in China and beyond will soon be able to use smart speakers to turn on the lights and control the microwave...
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RetailCampbell Soup Sales Keep Steaming Along During Pandemic
For many more Americans than usual, COVID-19 woes mean that “soup’s on!” Now, the Campbell Soup Company’s top executive predicts that his...
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RetailAMC Warns There’s A ‘Substantial Doubt’ The Theater Chain Can Survive
AMC Entertainment Holdings is warning investors that it may not be able to survive “as a going concern” as the movie theater...
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InvestmentsVaro Raises $241M To Become A National Bank
Varo Money Inc., the mobile banking company, closed on a $241 million Series D funding round, the San Francisco-based company announced on...
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EconomyAmex CFO Sounds Alarm Over Joblessness
A top American Express executive sees trouble on the horizon for the economy as the effects of the COVID-19 recession continue to...
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EconomyMoody’s Economist: ‘The COVID-19 Recession Is Over’
While companies cut nearly 2.8 million jobs last month, Mark Zandi, chief economist at Moody’s Analytics, said it was far less than...
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LoansMortgage Purchase Applications Rise For Seventh Consecutive Week
One of the few bright spots in the nation’s ailing economy is the housing market. Fueled by the lowest home loan rates...
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InvestmentsSoftBank Announces $100M Fund For Minority-Led Startups
SoftBank is rolling out a $100 million loan fund targeted exclusively at minority-led startups, in the latest move by a big corporate...
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Digital BankingPandemic Impact Affects Singapore Digital Bank License Decisions
The COVID-19 crisis continues to upend the economy, including even the world of digital banking. As previously reported in this space, the...
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InvestmentsPayPal Boosts Investment In Tink Open Banking Platform
PayPal has re-upped its stake in Tink with an investment of an undisclosed size that was part of a previously announced 90...
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RetailExpress Inc. Net Sales Drop 53 Pct Amid Pandemic
As it took “decisive actions” to maintain liquidity, Express Inc. reported “continued momentum” with its The EXPRESSway Forward long-term strategy, as a...
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Payment MethodsNYC Public Transportation Contactless Fare Plans Slowed By COVID
New Yorkers who were hoping the city’s public transportation network would soon accept contactless payment will have to wait. The Wall Street...
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RetailAmerican Eagle’s Digital Demand Jumps 33 Pct In Q1
American Eagle Outfitters, Inc.’s digital demand accelerated in the first quarter, powered by brand health and formidable shopper engagement. Management reported that...
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RidesharingLyft Rides Up In May From April But Still Down 70 Pct YOY
While Lyft’s ride counts are rising from the worst parts of the pandemic, they’re still down 70 percent from a year ago,...
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MobileIndia To Offer $6.6 Billion To Attract Smartphone Manufacturers
India, looking to attract more global investments in the manufacture of mobile phones, is offering financial incentives and a wealth of plug-and-play...
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InvestmentsPayPal, Facebook Take Stakes In Gojek
PayPal and Facebook are collaborating on a funding round by GoJek, the Indonesian digital payments company, to boost their profiles in Southeast...
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Digital PaymentsAussie Central Bank Considers Regulating ePayments Fees
The Reserve Bank of Australia (RBA), the country’s central bank, is considering reducing the cost of electronic payments for merchants and consumers...
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Amazon CommerceAmazon Plans ‘Invitation Only’ Sale Starting June 22
Amazon will hold a “summer sale” on June 22 in order to hopefully help the economy get moving, CNBC reports. In a...
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RetailBanana Republic Gives $20M In Clothing To Disadvantaged
Banana Republic will donate more than $20 million in clothes to Americans in need to help with the financial strain of the...
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EconomyTrump Considers Next Stimulus
President Donald Trump will meet with senior advisors this week to discuss the possibilities of another pandemic-related stimulus package, this time with...
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IPOVroom’s IPO Could Net $366.6M
eCommerce vehicle retailer Vroom has started the initial public offering (IPO) of its common stock, according to an announcement. The company’s IPO...
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Loyalty & RewardsNew Apple Card Users Can Earn $50 For Shopping At Walgreens
Apple and Walgreens are now partnering to offer new cardholders a $50 Apple Card bonus after they spend the same amount of...
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BitcoinBitcoin Daily: Nike Offers Crypto Rewards For Online Purchases; BlockFi Teams With Bitcoin Mining Pool On Lending, Financial Services
Plutus, a British FinTech startup, is providing rewards via its credit card to customers who buy from the eCommerce store of Nike,...
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LoansWells Fargo Cuts Off Lending Services For Independent Car Dealers
Wells Fargo will no longer be giving loans to independent auto dealers, according to a report from CNBC. Last month, the bank...
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Partnerships / AcquisitionsAussie BNPL Firm Zip Co Inks Deal With QuadPay To Reach US Market
Zip Co Ltd, the Australian buy now, pay later (BNPL) company, is acquiring rival QuadPay, the New York-based payment installment platform, the...
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EconomyAtlanta Fed: Real GDP Estimated To Fall 52.8 Pct In Q2
Real gross domestic product (GDP) is projected to plummet 52.8 percent in the second quarter, according to the Federal Reserve Bank of...
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EconomyMarriott Opens Its China Properties Again Amid Travel Recovery
As Marriott surfaces out of pandemic lockdowns, the company has reopened all of its hotels in China and has experienced a corporate...
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BitcoinBitcoin Stock Crests $10K But Not For Long
It took just four minutes for Bitcoin’s price to take a dramatic dive of more than $800 Tuesday (June 2) as the...
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IPOZoomInfo Aims To Raise Up To $890M In IPO
ZoomInfo Technologies Inc. boosted the price range for its initial public offering (IPO) on Tuesday (June 2), hoping to raise as much...
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CoronavirusOurCrowd Invites Investors To Join $100M Pandemic Fund
As the number of worldwide deaths from the coronavirus nears 400,000, the crowdfunding platform OurCrowd has launched a $100 million Pandemic Innovation...
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Payment MethodsAmerican Express To Donate Meals To Women’s Shelters
American Express is encouraging its cardholders to order food on Deliveroo, and every time they do, the global finance services company will...
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EconomyMany Jobless Still Waiting For Unemployment Checks
Even as the federal government has paid out unemployment cash at an unprecedented level over the last three months, an estimated one-third...
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B2B PaymentsAlibaba Launches Credit For SMBs Buyers On Its Platform
Alibaba.com is rolling out a new program that aims to make it easier for small- and medium-sized businesses (SMBs) to enter the...
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Security & FraudReport: Criminals Netted $1.4B From Crypto Crimes
In the first five months of the year, cryptocurrency thefts, hacks and frauds totaled $1.4 billion, and could exceed the 2019 loss...
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Partnerships / AcquisitionsTalks Over Termination Fee May Threaten Grubhub-Uber Deal
Another major obstacle has emerged in Uber’s bid to buy Grubhub: The food-delivery service wants a big payoff if federal regulators nix...
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AppleApple Jumps Into Price Cuts As China Reopens Economy
China is launching a great reopening of its economy. Apple wants to get a big slice of consumers’ dollars. The company is...
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RetailStitch Fix Announces Layoffs of 1,400 California Stylists
As it looks to hire employees in lower-cost states, Stitch Fix Inc. told its approximately 1,400 California-based stylists that they would be...
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EuropeMastercard’s Fintech Express Aims To Fuel European Startups
Mastercard has added a program designed to assist FinTech startups in Europe with quickly launching and expanding, the company announced on Tuesday...
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Digital PaymentsWestern Union: C2C Digital Transactions Hit 10-Year Record High For May
Western Union Co. said that while the payment platform saw transactions fall by 30 percent at the peak of the coronavirus pandemic...
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Security & FraudIndia’s BHIM Payments Site May Have Exposed 7 Million Users’ Data
India’s BHIM payment app has reportedly accidentally exposed the personal data of 7 million users, including addresses, scans of Aadhar IDs and...
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PersonnelStarbucks Offers Leave Of Absence For Baristas Facing Fewer Hours
Starbucks is offering its baristas a voluntary leave of absence program for employees impacted by trimmed work schedules amid the COVID-19 pandemic,...
