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The Financial Stability Board, a global financial watchdog, is calling for greater oversight of the multitrillion-dollar shadow banking sector.
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The FSB issued a report Wednesday (July 9) on the growth of nonbank financial institutions (NFBIs), saying that regulators should consider limits on leverage used by these firms while also taking steps to limit their size,...
X CEO Linda Yaccarino said Wednesday (July 9) that she is stepping down from that position after two years, without giving a reason for the move.
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In a Wednesday post on X, Yaccarino said she is grateful to X owner Elon Musk for entrusting her with the responsibility of “protecting free speech, turning the company around, and transforming X into the Everything App.”
“I’m...
Consumer packaged goods companies are accelerating the adoption of artificial intelligence in their operations, marketing and supply chains as they seek new ways to boost growth and efficiency in a mature and competitive industry.
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In May, PepsiCo announced a collaboration with Amazon Web Services to enhance its in-house generative AI platform, PepGenX. The partnership...
In May, the pace of consumer credit, overall, decelerated. And in one positive sign, credit card balances decreased for the first time in since the end of last year, before the holiday shopping deluge.
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But the trimming of card balances may be a temporary move, given spending plans through the next year, sticky inflation and an uncertain outlook for tariffs.
The...
Amazon Prime Day generated nearly $15 billion last year. The sales event, extended to four days for the first time ever this year, has long been the eCommerce juggernaut’s crown jewel, a blockbuster sales event that once redefined the online retail calendar.
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But this year, the story could be different. Macro uncertainty, tariff turbulence and the evolution of consumer...
David’s Bridal opened a new Amazon storefront featuring a new brand that offers gowns and dresses for both special and everyday occasions.
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By opening the Amazon storefront for The Edit by DB Studio, David’s Bridal aims to continue expanding its offerings and ways to shop, positioning it to compete outside of bridal fashion and introduce its fashion to new shoppers...
Blockchain company Ripple chose BNY for the primary custody of its stablecoin reserves.
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“Ripple and BNY are jointly committed to paving the way for digital asset adoption at institutional scale and together are bridging the gap between the traditional finance and crypto ecosystems,” BNY said in a news release Wednesday (July 9).
Via the partnership, BNY will act as the...
Clarity AI has acquired ecolytiq to expand the capabilities of its artificial intelligence-powered platform that helps individuals and organizations make more sustainable choices in their consumption and investments.
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Ecolytiq’s platform, which can be added to banking apps to provide individuals with information they can use to reduce their carbon footprint, is now part...
China’s Baidu has launched what it calls the world’s first autonomous car rental service.
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The launch was announced Tuesday (July 8) by the tech company’s autonomous driving division Apollo in collaboration with CAR Inc., a Chinese car rental service.
“Built on Baidu Apollo’s Level 4 autonomous driving platform, the service is closely integrated with CAR Inc.’s...
FinTech Ant International is weighing stablecoin license applications in several countries.
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Ant Global Manager of Platform Tech Kelvin Li said at a conference in Singapore Wednesday (July 9) that Ant — the overseas arm of Chinese tech conglomerate Ant Group — is “seriously considering” the effort, Reuters reported Wednesday.
“Firstly, we will not be focusing on crypto...