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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. is expected to reach $64 billion by 2028, according to the retail analytics firm GlobalData , CNBC reported.

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Funding Round Could Give AvidXchange $2B Valuation

PYMNTS

percent through 2028, according to Boston Consulting Group. Revenue growth in the business payments sector is expected to grow by around 5.6 AvidXchange has ranked among the fastest-growing companies in North America on Deloitte’s Technology Fast 500 for the past six years, the company said in a blog post last month.

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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.

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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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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.

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Study Finds Trucking Company Bankruptcies Increased In 1H 2019

PYMNTS

The shortage could top 100,000 drivers in five years and 160,000 drivers in 2028. Operating costs are up, and spot pricing is down. The trucking shortage is now in the tens of thousands of positions, according to American Trucking Association Chief Economist Bob Costello, as reported by USA Today.

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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. According to Goldman Sachs, the B2B payments space will see volumes topping nearly $200 trillion by 2028, more than five times the volume of B2C payment flows.