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China’s eCommerce regulator has issued draft guidelines for fees that companies can charge third-party merchants.
The State Administration for Market Regulation on Sunday (May 25) said that online platforms should charge reasonable fees while taking into consideration factors like operating costs for the merchants with whom they do business.
The regulator calls on platforms to set flexible...
German sportswear company Adidas has reported a data breach involving a customer service provider.
As Reuters reported, the company announced Friday (May 23) that cybercriminals had accessed customer data via a third-party customer service provider, while noting that the breach did not involve passwords or credit card data.
“We immediately took steps to contain the incident and launched a...
After months of government work, Elon Musk says he is “super focused” on his companies.
The multibillionaire made that comment Saturday (May 24) on his X social media platform, following an outage impacting tens of thousands of customers.
“Back to spending 24/7 at work and sleeping in conference/server/factory rooms. I must be super focused on X/xAI and Tesla (plus Starship launch next week), as...
As Memorial Day approaches, kick off your summer blockbuster season with a binge-worthy lineup of films that dive deep into the wild, weird and sometimes tragic world of banking, payments and financial fraud. From true tales of Wall Street excess to comedies about offshore shell companies, these movies show money does make the world go round — sometimes in circles that land you in jail.
These...
Stablecoin issuer Tether reportedly plans to continue to focus on markets outside the U.S. even as it works to become compliant with potential U.S. regulation of the digital tokens.
“We are looking at the GENIUS Act in a way that will allow us to become compliant,” Tether CEO Paolo Ardoino told Bloomberg TV on Friday (May 23), referring to the bill that made its way through the U.S. Senate and is...
Oracle will reportedly buy $40 billion worth of Nvidia’s chips to power the first Stargate project, a new data center in Abilene, Texas.
The company will buy 400,000 of Nvidia’s latest “superchips” for training and running artificial intelligence (AI) systems, the GB200 chips, and lease the computing power they provide to OpenAI, the Financial Times (FT) reported Friday (May 23).
The data center...
Global payment infrastructure firm Trans-Fi has launched a unified platform called BizPay that enables instant, compliant cross-border transactions with more than 250 payment methods across more than 100 countries.
BizPay enables businesses and individuals to send and receive money, initiate payouts and accept pay-ins, in minutes, the company said in a Thursday (May 23) press release.
The...
Malaysia-based CIMB Bank has selected ACI Worldwide’s payment solution to bring together all account-to-account (A2A) transactions on a single platform.
The platform will include automated clearing house (ACH), real-time gross settlement (RTGS) and cross-border payments, the companies said in a Thursday (May 22) press release.
CIMB Group selected this payment solution to future-proof its payment...
Shoppers tired of doing online research on products they’re interested in buying could soon just listen to a robust CliffsNotes-type summary.
Amazon started testing short-form audio product summaries, featuring artificial intelligence-powered shopping experts talking about a product’s key features, Amazon Vice President of Search and Conversational Shopping Rajiv Mehta wrote in a Wednesday (May...
Italy’s banking industry has reportedly seen seven merger and acquisition deals underway or recently concluded.
Some of the deals are interrelated, Reuters reported Friday (May 23).
The deals include UniCredit’s offer to buy Banco BPM that was announced Nov. 25; Banco BPM’s acquisition of fund manager Anima Holding that was completed in April; Monte dei Paschi’s (MPS) offer to buy Mediobanca that...