Feed Items
Morgan Stanley announced Thursday (March 5) that it would reduce its global workforce by about 2,500 employees, or roughly 3% of its total staff, according to reporting from The Wall Street Journal.
The reductions are broad in scope, impacting the firm’s three primary pillars: investment banking and trading, wealth management, and investment management.
The banks characterizes these...
Target plans to open seven new stores this month, more than 30 this year and 300 by 2035 to support growth priorities outlined Tuesday (March 3) by CEO Michael Fiddelke.
The retailer also plans to remodel more than 130 stores this year, it said in a Thursday (March 5) press release.
The upcoming store openings and remodels are supported by Target’s $5 billion capital investment plan...
Splitit aims to make flexible payment options part of agentic commerce through its support of Google’s Universal Commerce Protocol (UCP).
Splitit joins Google and dozens of retail giants in supporting this open standard for agentic shopping journeys, the company said in a Thursday (March 5) press release.
The company’s card-linked installment payments platform will enable merchants to...
People tend to gravitate toward what’s easy and familiar. Businesses typically do the same.
This reality creates an uncomfortable truth for small- to medium-sized business (SMB): if it’s even slightly inconvenient to pay them, they might get paid last.
In a business environment shaped by consumer-grade digital expectations, the payment experience is becoming a decisive factor in when...
Bank executives appearing before a House Financial Services subcommittee Thursday (March 5) delivered a blunt message.
Financial fraud has become more sophisticated, more coordinated and more difficult to contain, even as banks pour billions of dollars into prevention efforts, they said.
At a Capitol Hill hearing titled “Fighting Fraud on the Front Lines: Challenges and Opportunities...
Tesla CEO Elon Musk said the company could eventually build humanoid robots capable of artificial general intelligence (AGI), according to a report published Thursday (March 5) by Seeking Alpha.
Musk on X said that Tesla will be one of the companies to develop AGI, and “probably the first to make it in humanoid/atom-shaping form.” AGI is generally defined as a form of AI capable of...
A new Swift payments framework for retail transactions will begin its rollout by the end of June.
The framework is designed to bring greater speed, affordability and predictability to cross-border retail payments, Swift said in a Thursday (March 5) press release.
An initial group of more than 25 banks will go live with the framework by the end of June, according to the release.
They...
Private credit has evolved from a niche financing tool to a fixture of modern capital markets, and as it expands, banks, regulators and investors are taking a closer look at the risks embedded within that lending class.
Direct lending by nonbank financial institutions expanded rapidly in the years following the global financial crisis, when tighter regulations curtailed banks’...
When Robinhood Markets burst onto the scene, it targeted individual retail investors. Now, it’s going after their households.
The brokerage announced a suite of new products centered on family finance, including shared account visibility, custodial investment accounts for children, trust accounts for estate planning, tax-aware transfers, and enhancements to its robo-advisor, according...
Every time an AI agent makes a purchase, three questions hang over the transaction. Did the consumer actually authorize this? Did the agent follow instructions exactly? And if something goes wrong, can anyone prove it? The payments, AI and merchant sectors are all looking for universal answers to those questions. Mastercard is pitching a new standard as the solution.
Announced Thursday...