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The latest global news and analysis in payments, retail, fintech, financial services and the digital economy.
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News
PayPal???s New CEO Bets on Going It Alone After $50 Billion Buyout Stalls
9+ hour, 34+ min ago (433+ words) PayPal is moving forward without a buyer, at least for now. CEO Enrique Lores is building a plan to run the payments giant as a stand-alone company after a proposed $50 billion-plus sale fell apart this summer. Many investors still doubt…...
Apollo Scaling Back Services at Invoice Finance Company Eliant
10+ hour, 15+ min ago (448+ words) Apollo Global Management is reportedly shuttering some parts of its Eliant Trade Finance platform. That’s according to a report Friday (Sept. 11) by Bloomberg News, which says the move comes after a difficult year for the previously hot inventory financing market....
Lawyer Sanctioned After AI Generates Fake Witnesses in Murder Appeal
10+ hour, 49+ min ago (440+ words) A New Mexico defense attorney’s use of artificial intelligence in a murder appeal has landed him in trouble. The state’s Supreme Court last week held attorney Stephen Aarons in direct contempt of court for submitting a brief with “false testimony…...
Anthropic Could Land Nvidia as $10 Billion IPO Investor
11+ hour, 15+ min ago (446+ words) Anthropic is reportedly in talks to have Nvidia invest in its landmark stock market listing. The chipmaker would come on as an anchor investor for Anthropic’s initial public offering (IPO), Reuters reported Friday (Sept. 11), citing sources familiar with the matter....
Consumers Feel Strained as Inflation Surpasses Wage Growth
12+ hour, 8+ min ago (447+ words) American consumers are facing added strain as inflation continues to outpace wage growth. “A substantial number of Americans are worse off, their incomes are not keeping up with the price increases right now,” Heather Long, chief economist at Navy Federal…...
OpenAI Pauses IPO Plans Amid AI Safety Worries
12+ hour, 50+ min ago (452+ words) OpenAI has reportedly postponed plans to go public amid corporate concerns about artificial intelligence safety. The AI startup’s initial public offering (IPO) will not take place in 2026, CEO Sam Altman said in an interview with Fortune on Friday (Sept. 11), saying…...
Cravath Lands Six Weil Partners in High-Profile M&A Team Hire
20+ hour, 9+ min ago (868+ words) Former President Barack Obama is urging Democratic leaders to make artificial intelligence policy a major political priority, warning that the technology’s rapid development could create serious dangers without stronger oversight. Obama raised the concerns during a private fundraising event last…...
Paramount, State AGs Set October Settlement Talks in Antitrust Fight
20+ hour, 17+ min ago (610+ words) Paramount Skydance and a coalition of state attorneys general challenging its planned takeover of Warner Bros. Discovery are set to hold two days of settlement discussions in late October, creating a potential path toward resolving an antitrust fight that otherwise…...
Fifth Circuit Upholds Dismissal of Antitrust Suit Against NAR
20+ hour, 27+ min ago (837+ words) South Korea’s antitrust penalties against the country’s biggest business groups have climbed to a record this year, signaling a sharper regulatory stance toward conglomerates as the government intensifies scrutiny of practices that could undermine competition. Penalties imposed on major corporate…...
Broadcom???s VMware Licensing Changes Draw Deeper EU Antitrust Scrutiny
20+ hour, 22+ min ago (504+ words) European Union competition authorities are intensifying their examination of Broadcom Inc.’s changes to VMware software licensing, seeking information from European cloud providers as a deadline approaches that could restrict how some companies sell VMware subscriptions. According to Bloomberg, regulators…...