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Temu’s attempts to weather U.S. tariffs are reportedly being hindered by Amazon.
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The Chinese eCommerce platform — owned by PDD — has been told by American companies that it cannot provide lower prices than Amazon on branded items, the Financial Times (FT) reported Sunday (July 27), citing two sources familiar with recent meetings.
“We’ve told them they can’t undercut...
Three years after the “crypto winter,” digital asset lending is making a comeback.
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That’s according to a report Saturday (July 26) by the Financial Times (FT), which cited the example of San Francisco lender Divine Research. That company said it has made roughly 30,000 unbacked short-term loans since December, working with OpenAI’s Sam Altman’s iris-scanning company...
A system breach at Allianz Life impacted most of the insurer’s U.S. customers’ personal data.
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That’s according to a report Saturday (July 26) by Bloomberg News, citing a statement from the company on the data breach on July 16.
During this incident, a “malicious threat actor” accessed a third-party, cloud-based system used by Allianz and obtained personally identifiable...
U.S. credit card delinquencies and charge-offs are now higher than they were before COVID.
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That’s according to findings published Saturday (July 26) by Seeking Alpha, which noted that this resurgence for both metrics in June follows a decline in May.
According to the report, the average delinquency rate — meaning late credit card payments — climbed to 2.79% in June from...
Move over, white-gloved conservators.
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Artificial intelligence has entered the gallery, armed not with paintbrushes and solvents but with neural networks, gigapixels, and a stubborn refusal to take coffee breaks.
No, we’re not talking about an MIT student’s innovative face mask for paintings (although, yes, that’s still trending in our analytics). AI is now behind the...
Luxury conglomerate LVMH is reportedly looking to sell fashion brand Marc Jacobs for about $1 billion.
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LVMH is discussing deals with multiple parties and could reach a deal soon, the Wall Street Journal (WSJ) reported Friday (July 25), citing unnamed sources.
LVMH did not immediately reply to PYMNTS’ request for comment.
According to the WSJ report, the company is known...
Anthropic is reportedly in talks on a funding round that would more than double its valuation, from the current $61.5 billion to more than $150 billion.
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The artificial intelligence startup is looking to raise at least $3 billion, and possibly as much as $5 billion, the Financial Times (FT) reported Friday (July 25), citing unnamed sources.
The talks are in their early...
Companies of all sizes are being deluged by vendors who want them to deploy the artificial intelligence (AI) trend du jour: AI agents.
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But most of the AI agent systems being sold today are not truly agentic, according to a report from business research and insights firm Gartner. According to the report, out of thousands of AI agent systems touted by vendors, only 130...
Law firm Labaton Keller Sucharow filed a securities class action lawsuit against FinTech and payments company Fiserv, alleging that it misled investors.
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The complaint centers on Fiserv’s payment gateway product Clover, Labaton Keller Sucharow said in a Thursday (July 24) press release.
Fiserv did not reply to PYMNTS’ request for comment.
According to the press release,...
The tokenization of shares of money market funds could help keep money market funds competitive with stablecoins while also creating new uses for them, according to JPMorgan Chase...