From PYMNTS.com

  • Crypto Firms Engage in Aggressive Fundraising to Boost Valuations

    Cryptocurrency startups are reportedly engaging in aggressive fundraising as the digital asset space recovers. As Bloomberg News reported Saturday (May 4), this approach entails an open-ended form of fundraising that keeps money flowing and fast-tracks valuations. It’s the opposite of the standard venture capital strategy of low-key rounds spaced out over years. “When a deal […]

  • Warren Buffett Warns of AI Use in Scams

    Berkshire Hathaway’s Warren Buffett has compared the development of artificial intelligence (AI) to the atomic bomb. Just like that invention, the multibillionaire said Saturday (May 4) at Berkshire’s annual meeting, AI could produce disastrous results for civilization. “We let a genie out of the bottle when we developed nuclear weapons,” said Buffett, whose comments were reported by The […]

  • Are Consumers 'Done With Fast Food' as Prices Climb?

    Denis Montenaro, a regular McDonald’s diner, recently came to a decision. “I’m done with fast food,” the 75-year-old California resident told The Wall Street Journal (WSJ) in a report published Sunday (May 5). The reason? A visit to the Golden Arches that ended with Montenaro paying nearly $10 for a bagel sandwich and a cup of coffee. As […]

  • Mytheresa Aims to Be 'Winner' of Luxury eCommerce Downturn

    If the luxury eCommerce space is tumbling down, Mytheresa plans to come out on top. “I think there is an understanding in the market that the industry is consolidating, and that there are some winners and some losers,” Michael Kliger, the company’s CEO, told the Financial Times (FT) Sunday (May 5). “We believe, and the stock market certainly believes, […]

  • Warren Buffett Cuts Stake in Apple by 13%

    Warren Buffett’s Berkshire Hathaway has cut its stake in Apple, apparently for tax reasons. The conglomerate’s first quarter earnings report — released Saturday — showed the company’s investment in the tech giant at $135 billion. A report by CNBC noted this would mark a drop of 13%, though Apple remains Berkshire Hathaway’s largest holding, and that this was […]

  • Crypto.com Looks to Sports to Capture Non-Crypto Audience

    Crypto.com wants to increase its sports sponsorships to reach a wider audience. The company is targeting sports as a driver to reach non-crypto enthusiasts and “will double down on our strategy,” Chief Marketing Officer Steven Kalifowitz told Bloomberg News on Sunday (May 5) ahead of Formula One’s Miami Grand Prix, which Crypto.com is sponsoring. Crypto.com has lent its […]

  • Paytm Money Names Rakesh Singh CEO as COO Departs

    Embattled Indian FinTech Paytm has just undergone a leadership shakeup. Bhavesh Gupta, the company’s president and chief operating officer, is stepping down from that role for personal reasons, parent firm One97 Communications said in a regulatory filing Saturday (May 4). In addition, the company has appointed Rakesh Singh as the new chief executive of its wealth subsidiary, Paytm Money. […]

  • Dave & Buster’s Launches Arcade Betting as Wagers Gain Popularity

    With the proliferation of betting apps bringing gambling into more parts of consumers’ lives, now even Skee-Ball is getting the Las Vegas treatment. Restaurant and entertainment center chain Dave & Buster’s has partnered with gaming technology firm Lucra to add “gamification software” to its app for loyalty program members. “This new partnership gives our loyalty […]

  • IRS Modernization Efforts Pose Challenges as Enterprises Embrace eFiling

    Digital transformation is becoming as inevitable as the reality of paying taxes. And as many companies discovered during the recent tax season, even the IRS is going digital. As Wendy Walker, solution principal at Sovos, told PYMNTS, the Internal Revenue Service’s ongoing digitization efforts pose challenges — and benefits — for enterprises switching from paper-based […]

  • Banks Boost Visibility, Customer Service With Branches in Airport Terminals

    Several banks have reportedly expanded their retail footprint into airport terminals. These bank branches in airports offer convenience, comfort and a range of financial services to existing customers, while also serving as a platform for banks to engage with potential new ones, CNBC reported Friday (May 3). Brands like Fifth Third Bank, Capital One and Wells Fargo have embraced this concept, creating airport […]

  • J.P. Morgan Payments Powers Merchandise Transactions for Formula One Organizer

    J.P. Morgan Payments is facilitating purchases of merchandise for a Formula One race in Miami, both in-store and online. The firm is doing so in an expanded partnership with South Florida Motorsports (SFM), the organizer of the Formula One Crypto.com Miami Grand Prix being held May 3-5, the companies said in a Friday (May 3) press […]

  • How AI Reshapes Education, Streamlines Upskilling for Employees

    Artificial intelligence (AI) is changing how companies train and upskill their employees, offering personalized learning experiences that can reduce costs and improve efficiency. The global AI-in-education market is expected to grow from $3.6 billion in 2023 to around $73.7 billion by 2033, according to a report from Market.US. Despite the impressive forecast, online education company […]