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Forever 21 Files For Bankruptcy; Plans To Exit Asia, Europe

PYMNTS

The filing will allow the retailer to continue operating while it attempts to reorganize the business and return to profitability. It will continue operations in Mexico and Latin America, the article said. The used-fashion market in the U.S. Forever 21 plans to close up to 178 stores in the U.S.,

Retail 148
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Alibaba Has Big Plans For Olympic Tech

PYMNTS

Chinese tech giant Alibaba has an Olympic sponsorship deal that’s worth hundreds of millions of dollars, and the company said it plans to use its technology to change and improve the way the Olympics operate, according to a report by the Associated Press. We also like to leverage our technology to help transform and upgrade the games.

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Alibaba Promises To ‘Transform And Upgrade’ Olympic Games

PYMNTS

Chinese tech giant Alibaba has an Olympic sponsorship deal that’s worth hundreds of millions of dollars, and the company said it plans to use its technology to change and improve the way the Olympics operate, according to a report by the Associated Press. We also like to leverage our technology to help transform and upgrade the games.

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California DFPI issues proposed amendments to small dollar loan pilot program regulations

CFPB Monitor

Initially effective from 2014 to2018, the Pilot Program’s sunset date was extended to January 1, 2028. The Pilot Program operates under the California Financing Law (CFL) and is administered by the DFPI.

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FinTech Innovation Eases B2C Sellers’ Entrance Into The B2B World

PYMNTS

The takeover signaled an evolution of the company's business model from a traditionally business-to-consumer (B2C) seller, to one that includes business-to-business (B2B) operations. It was also indicative of a growing trend of B2C merchants expanding into the B2B realm in an effort to take advantage of a surging market.

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Retail Pulse: Amazon Grows 4-Star Footprint; Forever 21 Files For Bankruptcy

PYMNTS

The filing will let it continue operating while it attempts to reorganize the business and return to profitability. The used-fashion market in the U.S. is expected to reach $64 billion by 2028, per GlobalData. The mall operator also noted it has signed on over 2,000 designers and has about 300,000 products.

Retail 109
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Can Google Fight Off Amazon And Facebook In Online Ad Race?

PYMNTS

Google appears to be losing steam in the ongoing race to dominate the online advertising market, and competitors Amazon and Facebook are taking advantage of the stumbles. Shifting Dollars. Experts may disagree on the numbers, but all of them agree Amazon’s ad business is growing annually at a healthy clip.

Google 115