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Legislation eliminating federal income taxes on tips could provide some relief to around 4 million U.S. workers, CNBC reported Wednesday (May 21).
That is the number of workers — about 2.5% of all employees — who were in tipped occupations in 2023, according to the report. These occupations include those in restaurants, hotels and courier services.
The Senate passed a No Tax on Tips Act on...
Santander Bank N.A. said Wednesday (May 21) that its digital banking platform gained more than 100,000 customers in the U.S. during its first six months of operations in the country.
That growth rate of the Openbank by Santander platform exceeded the bank’s expectations, Santander Bank said in a press release.
“Reaching this milestone at record pace is a testament to our customer-obsessed mindset...
Bitcoin reportedly hit an all-time high of $109,730 Wednesday (May 21), driven in part by the Monday (May 19) news that a stablecoin bill advanced in the U.S. Senate.
The cryptocurrency reached its previous record high around the Jan. 20 inauguration of President Donald Trump, which heightened the market’s hopes for regulatory clarity around crypto, Bloomberg reported Wednesday.
Bitcoin has also...
Anywhere you looked, from mid-April to this week, as earnings season stretched out over the weeks, it was impossible not to hear and read about the impact of artificial intelligence (AI).
The recent spate of earnings reports from lending and insurance platforms offer up evidence that the loan underwriting via automation has expanded credit access and sharpened the identification of credit-worthy...
Luxury conglomerate LVMH reportedly told investors and analysts that demand remains soft due to weaker consumer confidence in China and other markets.
This message may signal that the company’s second-quarter results may not show an improvement over the first quarter, when LVMH missed revenue estimates, Bloomberg reported Wednesday (May 21), citing unnamed sources.
LVMH did not immediately reply...
Amazon CEO Andy Jassy told shareholders during a virtual meeting Wednesday (May 21) that the tariffs the President Donald Trump administration imposed on imported goods have not affected sales.
“We also haven’t yet seen any meaningful average selling price increases,” Jassy said, according to a Wednesday Reuters report. “When you have 2 million sellers, they’re not all going to take the same...
Chatbot Arena raised $100 million in seed funding to support its platform that helps users compare the performance of different artificial intelligence models.
The company also said in a Wednesday (May 21) post on social platform X that it plans to relaunch the platform, LMArena, with a new look based on feedback from members of its community.
“We’re focused on building a neutral, open, community...
Samsung Wallet in the U.S. now simplifies peer-to-peer (P2P) payments with the help of Visa Tap technology and the Visa Direct money movement solution.
With the launch of this Samsung Tap to Transfer, Samsung becomes the first partner to deploy Visa’s Tap to P2P, Visa said in a Wednesday (May 21) press release.
This feature creates interoperability between digital wallets, allowing users to...
About two years ago, Jony Ive’s son was so enthralled with OpenAI’s ChatGPT that he told his dad, “You’ve got to meet Sam.”
That would be OpenAI CEO Sam Altman and Ive, the former chief design officer at Apple and a protégé of Steve Jobs. The two had a meeting, agreeing that a new generation of devices were in order for the AI era.
In a Wednesday (May 21) video, Altman and Ive talked about how...
Supply chain risk management platform Tradeverifyd raised $4 million in new funding.
The financing, from SJF Ventures, will help Tradeverifyd invest in its go-to-market team to meet the demand for its agentic artificial intelligence-powered solution, the company said in a Wednesday (May 21) news release.
“Global supply chains are experiencing significant disruption due to tariffs, increased...