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Retail Sales Numbers Predict A Cruel April

PYMNTS

Department of Commerce released its retail sales results for March, showing record-setting declines due to changes in consumer behavior and the COVID-19 lockdown. But in the details, retailers can see the damage done to some sectors and the advantage gained by others. Overall sales fell 8.7 Clothing stores dropped 50.5

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Google's Former CEO Schmidt Invests In New $111 Million EU Tech Fund

PYMNTS

Former Google CEO Eric Schmidt is among the backers of a new $111 million European early-stage venture capital fund, according to CNBC. 30) by London-based venture capital firm Firstminute Capital , CNBC reported. The new fund's main investor is RIT Capital Partners.

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Instacart Raises $271M On $7.8B Valuation

PYMNTS

hedge fund Tiger Global Management and existing investors Coatue Management and Valiant Capital. The funding round was led by hedge fund D1 Capital Partners, and came only six months after the startup closed on a $350 million round of investing. A source told Reuters that the additional funding comes from investors, including U.S.

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Varo Bank’s Pepe Porrata to speak at Bank Automation Summit

BankInovation

ET at the JW Marriott in Charlotte, N.C. Pepe Porrata, chief operating officer at Varo Bank, will join a panel on “Ideation in Banking — the Art of Generating New Products and Services” at Bank Automation Summit 2022 on Wednesday, March 2, at 2:15 p.m. The panel discussion will address how to use design thinking […].

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Bank of America’s Head of Digital to Speak at Bank Innovation ’17

Bank Innovation

Achtner leads Bank of America’s Digital Banking Practice, responsible for the development and deployment of digital solutions for the Charlotte, N.C.-based based bank. Achtner also manages the Read More.

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B2B APIs Make More Connections

PYMNTS

“The benefits of APIs for instant payments [are] huge,” said Charlotte Hausemer, vice president of innovation and product management for trade and treasury at BNP Paribas. Real-time] gives eCommerce traders and [business-to-consumer] retailers instant access to their funds [for] working capital and liquidity-related benefits.

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5 New Year’s Resolutions For Any Sized Bank That You Must Get Right in 2023

South State Correspondent

Because many banks are now producing below their cost of capital, growth further exacerbates their issues and drives them out of business (likely through a sale) faster. Without the windfall of profit accrued to banks in 2022 because of faster-than-expected rate increases, banks will need to be better allocators of capital.