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The Federal Reserve reportedly may be getting close to ending the reduction of assets on its balance sheet, a quantitative tightening process that began in 2022 as the central bank sought to reverse the asset purchases it made to stimulate the economy during the pandemic.
Funding pressures in U.S. money markets and dwindling bank reserves held at the Federal Reserve suggest that the...
OpenAI introduced AgentKit, a platform that enables companies to build and manage AI agents capable of performing defined business tasks, according to a Monday (Oct. 6) press release.
The announcement followed other product updates, including OpenAI’s move to let ChatGPT connect directly to external applications and the debut of Instant Checkout, which allows users to make purchases...
One would presume that Intercontinental Exchange (ICE), the owner and operator of the New York Stock Exchange (NYSE), would have its finger on the pulse of American financial markets. Literally.
And on Tuesday (Oct. 7), ICE gave the rest of the world a glimpse of where it sees the infrastructure for finance heading in the future when it announced a strategic $2 billion investment in...
The Bank of England reportedly plans to grant exemptions to its proposed limits on stablecoin holdings to allow cryptocurrency exchanges and certain other businesses to hold larger amounts of the tokens.
The stablecoin caps are expected to be announced by the end of the year, Bloomberg reported Tuesday (Oct. 7).
The BOE will also let firms use stablecoins as a settlement asset in its...
Amazon Autos has added Chase, Santander and Wells Fargo to the lenders offering financing options on its automotive storefront.
With the addition of these lenders, dealers can offer Amazon customers financial services providers they already use in-store, and shoppers can gain more insights and options when seeing and comparing rates, Amazon said in a Tuesday (Oct. 7) press release.
“By...
Payment technology provider Stax Payments said in a Tuesday (Oct. 7) news release that it is now a “full-stack, end-to-end payments processor.”
The company reached the milestone with the launch of Stax Processing, ushering in “a new era for the company, defined by greater autonomy, adaptability and innovation,” the release said.
The technology behind Stax Processing was built and...
PayPal has introduced a way for its small business customers to launch retail media networks.
The company on Tuesday (Oct. 7) announced the launch of PayPal Ads Manager, designed to help small businesses “create billions of new advertising impressions for brands of all sizes” using a “fast-growing and highly profitable segment of digital advertising.”
Retail media networks, PayPal said...
Artificial intelligence-related goods accounted for nearly half of the overall growth in world merchandise trade in the first half, the World Trade Organization said Tuesday (Oct. 7).
While AI-related products account for 15% of global imports and exports, they made up 43% of global trade growth, the WTO said in its latest Global Trade Outlook and Statistics.
The trade in these goods,...
IKEA has acquired logistics tech company Locus to capitalize on growing online sales.
Ingka Group, the largest IKEA retailer, announced the deal Tuesday (Oct. 6), calling an investment to strengthen the furniture retailer’s digital capabilities.
“In today’s retail landscape, customers expect a seamless home delivery, taking the complex digital systems that make it possible for granted...
Pay later platform Sezzle expanded its merchant list ahead of the holiday shopping season.
“Holiday budgets are under pressure,” a Tuesday (Oct. 7) company news release said, adding that PwC found that price sensitivity is expected to drive many purchase decisions this year.
“Retailers are preparing accordingly, and many are turning to Sezzle,” the release added.
Joining Sezzle are...