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Today In Retail: CarLotz Gets Green Light From Its Investors For Merger; PriceSmart’s Net Merchandise Sales Climb 7.7 Pct

PYMNTS

In today’s top retail news, CarLotz, Inc. says it has received the necessary approval from its investors to complete a potential merger with a blank-check company, while PriceSmart, Inc. reported a 7.7 percent rise in net merchandise sales from Q1 fiscal 2020 to Q1 fiscal 2021. Plus, Family Video said this week that its closing all of its physical retail locations.

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Today In Digital-First Banking: BBVA To Close Simple Bank; Stimulus Debit Cards Mailed To 8 Million Households

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In today’s top digital-first banking news, clients of BBVA subsidiary Simple Bank are reportedly getting emails telling them that Simple is closing and the intent is to move them to BBVA, while the Treasury Department announced that stimulus Visa debit cards are being mailed to homes. Plus, Robinhood is considering selling shares straight to users if it decides to have an initial public offering (IPO).

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Tesla Powers Past $820 Billion Valuation; EV Trend Shows No Signs Of Slowing

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Nothing like a 700 percent increase over the past year to boost the fortunes of Tesla’s stock – and Founder Elon Musk’s net worth – as continued stock market gains have taken both to new highs. Not only has Musk become the world’s richest man, but Tesla’s market value reached $820 billion Friday, nudging aside Facebook to muscle its way into a top-five position, where it now sits behind only Apple, Microsoft, Amazon and Alphabet.

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Amazon Pulls The Plug On Prime Pantry

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It looks like another bit of consolidation in the wild world of grocery retail as Amazon has officially shut down its Prime Pantry services — rolling the shelf stable goods lineup to the main Amazon Website where they will be adorable as part of the general listing. Launched initially in 2014, Prime Pantry orders cost consumers a flat $5.99 shipping fee per box of groceries, which could be filled with up to 45 pounds of products or up to 4 cubic feet of stuff (whichever limit customers reached f

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Robinhood May Sell Shares Directly To Users If It IPOs

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Robinhood is considering selling shares directly to its users if it opts to hold an initial public offering (IPO). The FinTech group is reportedly mulling setting aside a significant number of shares for users if it goes public, but it has yet to make any final decisions, according to Bloomberg, who cited unnamed sources. Bloomberg notes that such an offering would be unusual, as retail investors generally do not get an opportunity to participate in an IPO at the offering price.

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Today In B2B: UK Debt Collectors Eye SMB Aid Recovery; ActiveWorx Launches B2B Payments Optimization Tool

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Today in B2B payments, ActiveWorx launches its B2B payment optimization tool, while PayJunction debuts an eInvoicing feature. Plus, U.K. debt collectors seek a bigger role in recovering SMB aid, Fides expands bank connectivity for treasurers and jobless claims dip slightly. ActiveWorx Introduces B2B Payments Offering on AP Platform. ActiveWorx, Inc.

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Will SPACS Be Back (With A Bang) In 2021?

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Bright spots? In 2020? There were not many of them, we’ll admit. But there were incandescent pockets here and there, if you were an investor, and specifically if you invested in special purpose acquisition companies (more commonly known as SPACs). On Wall Street, of course, you need to follow the money to follow what’s in favor. And SPACs, hot in 2020, are, well, still hot.

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