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Temu parent company PDD Holdings saw its revenue grow but its operating profit fall during the second quarter, with executives saying the company is investing in “long-term impact.”
PDD Holdings’ revenue grew 7% year over year during the quarter to reach about 104 billion yuan ($14.5 billion), the multinational commerce group said in a Monday (Aug. 25) press release. At the same time,...
Spreadsheets may be dying a slow death, but they’re still on their way out the door. And no one is more grateful than the corporate treasurer.
Treasury used to run on lag. Reports rolled in after cutoffs. Cash positions were tallied after the fact. By the time a treasurer got the full picture, reality had already shifted.
For decades, this quiet workhorse of corporate finance was...
Foot Locker shareholders voted to approve the footwear and apparel retailer’s acquisition by Dick’s Sporting Goods, which was announced in May.
Shareholders voted at a special meeting held Friday (Aug. 22) and approved the deal with 99% of the votes cast, representing 70% of all outstanding shares, voting in favor, Foot Locker said in a Friday press release.
The transaction remains...
Global omnichannel dog brand Bark has migrated its subscription base to enterprise subscription platform Ordergroove and eCommerce engine Shopify.
The company previously managed two separate subscription platforms, which put a strain on engineering resources and created other challenges, according to a Thursday (Aug. 21) press release.
By shifting to a single scalable tech stack for...
Financial and retail technology solutions company Diebold Nixdorf has debuted new services for bank branches.
The company’s new Branch Automation Solutions portfolio, announced Monday (Aug. 25), is designed to help financial institutions (FIs) improve efficiency in their physical channels, while addressing customers who are seeking an omnichannel banking experience.
This offering...
Features enhancing reliability, tools for restaurants and expanded financial access are on Square’s product roadmap.
The business technology platform highlighted these upcoming offerings in a Monday (Aug. 25) article announcing that it has made its product roadmap public.
Willem Avé, global head of product at Square, wrote in the article that the company did so to increase transparency...
Agentic artificial intelligence is embedding itself into everyday shopping and enterprise workflows, turning simple prompts into fully executed tasks and streamlining online interactions that improve customer-facing and supply chain interactions.
The promise that beckons is hands-off commerce, whether you’re a consumer or business, but the reality remains mixed. In B2C, retailers are...
Late-stage delinquency rates increased across all credit scores in July, compared to a year earlier, with the greatest percentage increases seen among the highest credit tiers, according to VantageScore.
The credit scoring company said in a Monday (Aug. 25) press release that the rate among consumers with a credit score between 661 and 780 increased 47% year over year, while that among...
Text-to-pay platform Authvia has integrated Visa’s real-time money movement capabilities into its core offering.
The collaboration with Visa Direct, announced in a Monday (Aug. 25) news release, allows for real-time disbursements across industries such as healthcare, automotive services, insurance and gig economy platforms with a single text message.
“Whether it’s sending a co-pay...
The lines between the gamification of money and the monetization of gaming are increasingly blurring.
At the heart of this blurring lies a fundamental tension: Are sports prediction markets better viewed as financial investments, e.g. derivatives regulated by the Commodity Futures Trading Commission’s (CFTC), or as gambling needing state-level regulation?
Last week, Robinhood, the...