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Adobe said Monday (July 7) that during Amazon’s Prime Day sales event that runs from Tuesday (July 8) through Friday (July 11), it expects the amount of traffic to all U.S. retailers that comes from generative artificial intelligence (AI) chat services and browsers to leap 3,200% year over year.
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“And while AI-driven traffic remains modest compared to other channels such...
Apple said Tuesday (July 8) that Chief Operating Officer Jeff Williams will hand off some of his duties before retiring later this year to spend more time with friends and family.
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Williams will transition his role as COO later in July to Apple Senior Vice President of Operations Sabih Kahn; will continue reporting to Apple CEO Tim Cook and overseeing the company’s...
Meta reportedly bought a roughly 3% stake in eyewear maker EssilorLuxottica, which is the maker of Ray-Ban and Oakley glasses and one of Meta’s partners in the smart glasses business.
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The stake is worth about €3 billion (about $3.5 billion), Bloomberg reported Tuesday (July 8), citing unnamed sources.
Neither Meta nor EssilorLuxottica immediately replied to PYMNTS’...
Companies backed by venture capital (VC) firms are reportedly choosing mergers, acquisitions and buyouts over initial public offerings (IPOs).
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While the overall number of exits remained flat in the second quarter compared to the first, the majority came from mergers, acquisitions and buyouts, Bloomberg reported Tuesday (July 8), citing data from Pitchbook.
The report...
Mistral AI is reportedly in talks to raise as much as $1 billion in equity financing from investors including MGX as well as hundreds of millions of euros in debt from French lenders.
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The debt would help fund an artificial intelligence (AI) cloud service in France called Mistral Compute, Bloomberg reported Tuesday (July 8), citing unnamed sources.
The discussions are in...
The June Survey of Consumer Expectations by the Federal Reserve Bank of New York, released Tuesday (July 8), found at least some optimism on inflation, where price increases are still likely to be elevated, but at a slowing pace.
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Spending expectations were tempered, but income is not likely to keep up with inflation, per the data.
The optimism may be fleeting, given the...
The first four hours of Amazon’s Prime Day event reportedly saw sales figures that were 14% lower than those at the beginning of last year’s event, Bloomberg reported Tuesday (July 8), citing data from Momentum Commerce.
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Momentum Commerce manages Amazon sales on behalf of brands and generates about $7 billion in sales annually on the platform, according to the report....
British FinTech Propel Finance has raised $2 billion in a new funding round.
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The round, announced Friday (July 4) on the company’s LinkedIn page, will help the company in its mission of offering asset financing to small and medium-sized enterprises (SMEs).
“This funding represents a significant step forward for Propel and a major win for UK SMEs, enabling thousands more...
Payments company PayJunction has launched an integration with customer engagement platform Twilio.
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The integration, announced Tuesday (July 8), lets PayJunction merchants deploy artificial intelligence (AI)-driven interactive voice response (IVR) solutions that securely process payments over the phone and do away with manual processes.
“Merging Twilio’s innovative,...
Trump Media is reportedly making another venture into the digital assets space.
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The social media firm owned by President Donald Trump is planning an exchange-traded fund (ETF) that would hold cryptocurrencies such as bitcoin, ether and solana, Bloomberg News reported Tuesday (July 8), citing a regulatory filing.
According to the report, the “Crypto Blue Chip Fund” marks...