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A more multipolar system of trade and capital could emerge from the current disruptions caused by tariffs, Citi CEO Jane Fraser wrote in a Friday (May 16) blog post.
Tariffs have disrupted trust, supply lines and planning cycles, and their impact will take time to settle even if the tariffs are eased, according to the post.
“We are entering a new phase of globalization — one less defined by...
The U.K.’s Competition Appeal Tribunal announced its judgment Tuesday (May 20) in a long-running class action lawsuit that was brought against Mastercard over its swipe fees.
The judgment determines the distribution of the settlement of 200 million pounds that was announced in February, the Competition Appeal Tribunal said in a summary of the judgment.
It approves the settlement sought by the...
Google is adding shopping features in search as it faces competition from artificial intelligence chatbots for eCommerce transactions.
At the search giant’s annual I/O conference Tuesday (May 20), the company announced that Google Search’s AI Mode will soon be able to shop for products on behalf of users, bringing up websites that sell goods and letting users do virtual try-ons if applicable....
JustPaid has added several new features to its B2B-focused revenue automation platform.
The company announced this update Tuesday (May 20) while also revealing it had been granted SOC 2 compliance, meaning JustPaid “has demonstrated adherence to a set of security and privacy standards, ensuring the secure management of customer data and systems,” the company said in a news release.
Among the...
Artificial intelligence (AI) commerce startup New Generation — or New Gen — said Tuesday (May 20) that it has raised $4.5 million in seed funding to help brands adapt to the rise of AI-powered shopping.
Co-founded by Harvard Business School alumni Adam Behrens and Jonathan Arena, the startup is creating digital storefronts designed for both human customers and AI agents.
“We firmly believe brands...
Ontik has raised $3.7 million in a seed round to expand its digital trade credit platform that helps B2B wholesalers request, track and collect payments from their trade accounts.
“We’re building tools that take the pain out of payments, collections and credit — for the businesses that keep the world turning, but are still buried in spreadsheets, phone calls and manual graft,” Ontik Co-founder...
AI startup Catena Labs said in a Tuesday (May 20) news release that it has raised $18 million in a funding round to build the first regulated, AI-native financial institution for the agent economy.
The artificial intelligence startup was co-founded by former Circle co-CEO Sean Neville, who co-created the USDC stablecoin, per the release.
The funding round was led by a16z crypto, with...
Walgreens says it is boosting its investment in robotics with its new Minnesota-based micro-fulfillment center.
The center, announced Tuesday (May 20), is based in the town of Brooklyn Park and will support nearly 200 Walgreens locations throughout the Midwest, including 145 in Minnesota alone, processing a projected 13 million prescriptions each year.
“Our pharmacists working in locations...
Papaya Global launched a dedicated platform designed to help enterprises and managed service providers (MSPs) manage and pay freelancers, consultants, gig workers and independent contractors.
The new Contingent OS platform provides a financial infrastructure that encompasses vendor management systems, payroll compliance, invoice verification and instant global payments, the workforce payments...
Galileo Financial Technologies and Atomic have introduced a product designed to enhance consumer bill payments.
Galileo Payment Method Switch, announced Tuesday (May 20), makes it easier for people to update their default payment method, such as debit cards, credit cards and bank accounts, across merchants, subscription services, utility providers and digital wallets like Venmo or PayPal, in a...