Visa has been granted permission from China to bring its card business to that country. The American payments giant announced Tuesday (Oct. 13) that the People’s Bank of China (PBOC) had approved its “Application to Prepare,” which lets Visa begin work on setting up a...
The parent company of artificial intelligence agent startup Manus, Butterfly Effect, has raised $500 million in a funding round, months after the Chinese government blocked Meta’s acquisition of the company, according to multiple media reports. Butterfly Effect announced the round in a post on Chinese...
China has reportedly closed almost 25% of its banks amid increased oversight of smaller lenders. The world’s second largest economy shuttered a record 670-plus banks in 2025, the Financial Times (FT) reported Saturday (Oct. 3), citing figures from China’s National Financial Regulatory Administration. The closures,...
Saudi Arabia has reportedly withdrawn from China’s mBridge digital currency/cross-border payments program. That’s according to a report Sunday (Sept. 20) by the Financial Times (FT), which says the program has drawn controversy in the U.S. due to concerns that participating countries could use it to...
April 11, 2025
When Walmart, the largest retailer in the U.S., abruptly withdrew its first-quarter operating income guidance last week, the message was unmistakable: the tariff storm is shaking the foundations of retail planning. The announcement, citing the need to maintain pricing flexibility amid newly implemented tariffs, is emblematic of the intense pressure facing multinational retailers in a […]
April 10, 2025
Hate to say you read it here first, but here’s a prescient quote left on the cutting room floor from PYMNTS CEO Karen Webster’s interview with QED Investors partner Amias...
January 28, 2025
Chinese AI startup DeepSeek’s deeply discounted foundation models could herald lower prices for businesses seeking to adopt AI — by removing one of the biggest blockers to enterprise deployment. “Cost...
January 27, 2025
Shares of Nvidia, the darling stock of the generative AI boom, are down 15.3% in midday trading on Monday (Jan. 27) as Wall Street grapples with the revelation that it...
October 29, 2026
Visa has signed an agentic commerce/cross-border payments partnership with Chinese tech giant Tencent. The agreement between the two companies is designed to meld Tencent’s payment solutions, digital platforms and technology capabilities with Visa’s network and cross-border money movement offerings, Tencent said in a Thursday (Oct. 29) news release. “As two-way travel and commerce between China and the rest of […]
October 13, 2026
Visa has been granted permission from China to bring its card business to that country. The American payments giant announced Tuesday (Oct. 13) that the People’s Bank of China (PBOC)...
October 08, 2026
The parent company of artificial intelligence agent startup Manus, Butterfly Effect, has raised $500 million in a funding round, months after the Chinese government blocked Meta’s acquisition of the company,...
October 04, 2026
China has reportedly closed almost 25% of its banks amid increased oversight of smaller lenders. The world’s second largest economy shuttered a record 670-plus banks in 2025, the Financial Times...
