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US DOJ Charges 14 With $28M In PPP Fraud

PYMNTS

Levy, 50, of Bedford, Ohio; and Abdul-Azeem Levy, 22, of Cleveland, Ohio. 46, of Cleveland, Ohio; and Bern Benoit, 44, of Burbank, California. In Arkansas, a project manager employed by a major retailer has pleaded guilty to bank fraud charges for filing fraudulent bank loan applications seeking more than $8 million in PPP loans.

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Rocket Trims IPO By 39 Pct From $3.3B To $2B After Investors Reject Valuation

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The Detroit-based company is expected to market a reduced number of shares at about $18 to $20 apiece, Bloomberg reported, citing sources. The report stated the downsizing may signal the IPO market’s worry as the pandemic deepens across much of the U.S., Rocket describes itself as the largest retail mortgage lender in the U.S.

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Retail Pulse: FAO Schwarz To Open New Flagship; Amazon Expands Grocery Delivery

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Brick-and-mortar retailers have closed flagship locations in recent times, but sometimes these landmark stores make a comeback. The new store, which will be located at 30 Rockefeller Plaza, will feature multiple experiential retail components. The store will also offer magic shows and a grocery shopping experience designed for kids.

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Durant’s Decision: How Star Athlete Departures Impact Brands, Retailers

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From an economic standpoint , James’ departure, which he announced in a highly controversial one-hour primetime special broadcast on ESPN entitled “The Decision,” was immediately felt in Cleveland and to the value of James’ own brand. This was handled much better than LeBron handled ‘The Decision’ in 2010,” Rishe said by email.

Branding 101
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Can AIs Put An End To The Retail Boycott?

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Despite the millions of ways social media was supposed to make life simpler and more convenient, retailers have long since found that it’s not the selling playground that they once imagined it to be.

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Warehouse Space Going For Premium Rates

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Brick-and-mortar merchants are far from being free from the problems that plague their particular brand of retail, but even they have to look at online retail rising rents for warehouse space with a little bit of mirth. Of the 57 major retail markets studied, 37 of them posted decreases to warehousing availability.

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Is ‘Embedded Regulation’ The Key To Stablecoins’ Success?

PYMNTS

There has been a growing acceptance of cryptos, of course, as the market value of existing stablecoins stood as high as $14 billion in August, “yet authorities are braced for a world in which these volumes are orders of magnitude higher,” the report said. “The Embedded supervision can center on data collection and supervision.