Feed Items
The merger between Capital One and Discover Financial put a dent in bank profits.
Second-quarter data released Tuesday (Aug. 26) by the Federal Deposit Insurance Corp. showed $66.9 billion in profits for the banking sector, down 1% from the previous quarter.
“The increase in provision expense was largely attributable to Capital One’s acquisition of Discover Financial Services, as...
The Federal Trade Commission (FTC) has begun sending over $6.7 million to consumers as part of its settlement with gig work company Arise Virtual Solutions.
The settlement resolved the FTC’s allegations that Arise violated the FTC Act and the Business Opportunity Rule by making deceptive claims about the money workers could earn on its platform, the regulator said in a Tuesday (Aug. 26...
Walmart is offering faster delivery times for marketplace orders in its continuing eCommerce battle with Amazon.
The retail giant announced Tuesday (Aug. 26), that its fulfillment service, which provides storage and shipping services for its third-party marketplace vendors, will now begin offering next-day delivery in a number of major U.S. cities, New York, Los Angeles, Chicago,...
Consumer confidence slipped in August, as individuals said inflation is likely to surge, while job prospects dimmed and spending plans were, at best, mixed.
The Conference Board’s Consumer Confidence Index edged down by 1.3 points to 97.4 from a revised 98.7 in July, according to a Tuesday (Aug. 26) press release.
The Present Situation Index declined by 1.6 points to 131.2, while the...
Latin American delivery/financial services app Rappi has launched a partnership with global wallet platform AstroPay.
The collaboration, announced in a news release Tuesday (Aug. 26), is being billed as the region’s first wallet-on-file integration, letting users in Argentina, Brazil and Peru pay across currencies, with no cards required.
“This is a direct bridge between two massive...
Artificial intelligence (AI)-powered credit intelligence platform martini.ai has proposed industry-wide automation standards designed to provide a common language for describing the steps in the evolution of credit intelligence in the financial services industry.
With this Financial Autonomy Ladder framework, financial institutions will be better able to adopt advanced risk management...
Chinese tech giant Alibaba has updated its open-source video-generating artificial intelligence (AI) model.
That’s according to a report Tuesday (Aug. 26) by Bloomberg News, which describes this move as part of the company’s rapid pace of AI upgrades to keep up with its American and Chinese competition.
The update transforms portrait photos into “film-quality avatars” that can be...
America’s furniture sellers could soon face additional tariffs on imports.
Last week, President Donald Trump announced on social media that the government was probing furniture imports to the U.S., an investigation set to wrap up within 50 days. Tariffs could come “at a rate yet to be determined,” the president added.
As the Wall Street Journal (WSJ) reported Monday (Aug. 25), that...
VersaBank’s wholly owned subsidiary, VersaBank USA, launched an internal pilot program in the United States for the U.S.-dollar version of its bank-issued tokenized deposits.
The bank completed a similar pilot program of these tokenized deposits, dubbed Digital Deposit Receipts (DDRs), in Canada and is now testing them in the U.S. to ensure compliance with U.S. banking regulations,...
New research shows that artificial intelligence is making it harder for young workers to land jobs, The Wall Street Journal reported Tuesday (Aug. 26).
The trend is happening in fields where generative AI tools can automate jobs done by humans, the report said, citing research by Stanford University economists Erik Brynjolfsson, Bharat Chandar and Ruyu Chen.
The researchers reviewed...