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Fifth Third Bank is set to offer its commercial bank clients private credit arrangements.
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The new program, announced Tuesday (July 29), is happening in collaboration with asset manager Eldridge and designed to provide “reliable” private credit solutions to clients.
“This marks a significant moment in providing a private credit solution for our clients,” said Kevin...
The U.S. labor market maintained stability in June, though signals of cooling are emerging amid shifting sectoral dynamics.
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The latest Jobs Openings and Labor Turnover Survey (JOLTS) reported job openings at 7.4 million for June, a decrease of about 275,000 from May and steady year-over-year. The job openings rate slipped to 4.4%, down from 4.6% the previous month....
Consumer packaged goods giant Procter...
Fortis acquired B2B payments processor Serve First Solutions as part of its effort to expand its offerings for software platforms that serve businesses with multichannel payment workflows.
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The acquisition adds Serve First’s B2B payments expertise and service model to Fortis’ embedded payments technology offerings for software providers and enterprise resource planning (...
JPMorgan Chase and Apple are reportedly close to reaching a deal in which the bank would become the tech giant’s credit card partner.
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The companies have been negotiating since early 2024, and those talks have accelerated, the Wall Street Journal (WSJ) reported Tuesday (July 29), citing unnamed sources.
The report added that a deal has not been signed, and the...
PayPal Holdings Inc. used its Q2 earnings call to talk less about inflation or consumer spending softness and more about the tactics it says will secure its place at the virtual and in-store cash register. Chief Executive Alex Chriss laid out a five-point plan — digital wallet reach, BNPL, agentic AI, debit expansion and crypto rails — that shaped the discussion even more than the company’s 5%...
FinTechs are maturing, evolving and consolidating, creating new growth opportunities.
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While headlines can often spotlight layoffs and down rounds, SoFi’s second-quarter 2025 earnings call Tuesday (July 29) saw executives share a different story with investors, one not only showcasing a company firing on all cylinders, but also serving as a potential bellwether for the...
Mastercard has introduced a pair of solutions designed to enhance virtual card use.
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The company on Tuesday (July 29) announced it had launched “widescale global availability” of Mastercard Receivables Manager, an automated solution aimed at making virtual cards more efficient, secure and cost-effective for businesses to accept.
In addition, Mastercard introduced...
Microsoft and OpenAI are reportedly in advanced talks on a deal that would give Microsoft continued access to OpenAI’s technology after that company achieves artificial general intelligence (AGI).
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Under the companies’ current deal, Microsoft would lose access to any new technology from OpenAI when that company’s board determines it has developed AGI, Bloomberg reported...
Peloton is reportedly launching a national expansion of its bikes/treadmill resale marketplace.
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A pilot version of this program yielded about three dozen sales in the last two months, and now the connected fitness company is expanding the marketplace on a national scale, Bloomberg News reported Tuesday (July 29).
The Repowered Marketplace, first announced in June, lets...