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PYMNTS.com 08/10/2020 22:20
The extra unemployment aid, totaling $600 a week for everyone who successfully filed for benefits, cost the federal government a total of $250 billion, The Wall Street Journal (WSJ) reported. Any worker who had permanently lost his or her job, was furloughed or had hours cut had the ability to apply for the unemployment benefit, […]
PYMNTS.com 08/10/2020 21:48
A number of wealthy Indian business owners have succumbed as of late to scams that robbed them of their cryptocurrency, according to an India TV news report. The scams are coming by way of fake Bitcoin wallets that trick victims into fraudulent trade agreements before disappearing completely. Manan Shah, founder and CEO of Avalance Global […]
PYMNTS.com 08/10/2020 21:20
Good news from athletic retailer Foot Locker looks like it’s good news for shoe giant Nike as well. Both companies stocks rallied on Monday (Aug. 10) after Foot Locker reported an 18 percent spike in second-quarter comparable store sales, attributing the gains to pent-up demand and U.S. government stimulus payments amid the pandemic. Morningstar Equity […]
PYMNTS.com 08/10/2020 21:02
Anyone looking for a scoop on a prospective Amazon deal left disappointed. But the Simon Property Group earnings announcement and subsequent phone call did provide insight into what the pandemic looks like from a real estate perspective, and the view wasn’t exactly scenic. Despite the excitement caused over the weekend by reports that Amazon was […]
PYMNTS.com 08/10/2020 18:43
Boston-based Advent International, a global private equity firm focused on overseas buyouts, has purchased a stake in the United Kingdom’s parcel delivery group Hermes for 1 billion euros ($1.3 billion). The Financial Times (FT) reported Advent will acquire 75 percent of the company’s parcel delivery business in Leeds, England, from the Otto Group, the German […]
PYMNTS.com 08/10/2020 18:16
Facebook and Microsoft have issues with the way their gaming apps appear in Apple‘s store, which could go hand-in-hand with a EU investigation into Apple’s business practices and antitrust concerns, Reuters reported. Facebook’s issue is that its gaming app is only available as a streaming service through Apple’s site, not actually allowing users to play […]
PYMNTS.com 08/10/2020 17:44
Back-to-school shopping is normally one of the most consistently positive times for U.S. retailers. Parents and educators descend upon stores en masse, snapping up folders, notebooks and whatever else is on the school’s back-to-school supply list. But these aren’t normal times. True, parents spent a record amount last year: $696.70 per K-12 student and $976.78 […]
PYMNTS.com 08/10/2020 17:36
Google Pay and PhonePe, digital payment providers, are collaborating with the National Payments Corporation of India (NPCI) to offer recurring payments, Moneycontrol.com reported, citing banking sources. The deal will enable customers to opt-in for automatic monthly payments for utility bills, installment payments, subscriptions, insurance premiums and more. The two apps have as many as 70 […]
PYMNTS.com 08/10/2020 16:00
Introduction Consumers have been using internet technology for everything from nonessential health services to ordering from restaurants in the last few years, especially shopping more frequently online for retail products and groceries. The COVID-19 pandemic has accelerated this shift to digital, creating the need for a wide range of digital financial solutions that offer immediate, well-known […]
PYMNTS.com 08/10/2020 15:00
In today’s top news, Western Union is looking for merger and acquisition opportunities, and Amazon and Simon Property Group are in talks to turn empty department stores into fulfillment centers. Plus, the Federal Reserve’s Neel Kashkari urges a restrictive lockdown to defeat the coronavirus. Western Union CEO: ‘We’re On An M&A Hunt’ Western Union (WU) […]
PYMNTS.com 08/10/2020 14:56
Marriott International Inc. reported on Monday (Aug. 10) that comparable dollar revenue per available room (RevPAR) plunged 84.4 percent worldwide in Q2 on a constant-currency basis. “The lodging industry continues to be profoundly impacted by the COVID-19 global pandemic and the current operating environment remains quite challenging,” Marriott CEO and President Arne Sorenson said on the company’s earnings call. However, […]

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