US Treasury: Taxes On Digital Companies Are Discriminatory

PYMNTS

Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. After a European Union plan for tax reform fell apart, France, along with Britain, Italy and Spain, are moving forward with plans to tax companies like Google and Apple.

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Shell Companies Eyed In Fraud At Aegean Marine

PYMNTS

1) that a probe by international auditors is underway, examining a fraud that could be $200 million in scope at Aegean Marine Petroleum Network , tied to shell companies that ostensibly did business with the shipping fuel firm.

China To Launch Board For Listings Of Tech Companies

PYMNTS

China could be gearing up to take on New York and Hong Kong when it comes to listing technology companies on the stock exchange, publishing draft rules for a startup board that is similar to Nasdaq. curbs on Chinese tech companies and developments.

Comcast Buys AI Cybersecurity Company BluVector

PYMNTS

Comcast announced Monday (March 4) that it has acquired BluVector, a company that uses advanced artificial intelligence and machine learning to provide cybersecurity protection to companies and government agencies.

Italy Antitrust Authority Investigating Five Amazon Companies

PYMNTS

The Italian Competition Authority (ICA) has launched an investigation into five separate Amazon outfits to determine whether the company is taking advantage of its position as the foremost logistical and eCommerce service, according to a report from Reuters.

Amazon Becomes World’s Most Valuable Company

PYMNTS

There’s a new king of the mountain in the seemingly endless tussle between the world’s four largest companies – Amazon, Microsoft, Alphabet and Apple. 7), Amazon passed Microsoft as the largest company by market value, according to reports.

China To Increase Regulation Of Financial Holding Companies

PYMNTS

China is reportedly looking at new regulations that would impact Alibaba and Ant Financial in an effort to boost oversight of financial holding companies. The aim is to have plans made for a supervision plan for financial holding companies by the first half of next year.

Bridging Banking Gaps For Cannabis Companies

PYMNTS

That brings the tally of enterprises offering financial services to cannabis companies to 375 banks and 111 credit unions. Cash is expensive for these smaller companies to handle, said Hart, “very expensive, and operationally very limiting.”.

How FinTech Companies Inspire Africa With Mobile Technology

PYMNTS

According to the London Stock Exchange Group’s 2019 “Companies to Inspire Africa” report, which highlights these firms, the FinTech sector has the second highest growth rate representation of technology and telecoms as well as financial services.

When An 110-Year-Old Company Needs A Digital Upgrade

PYMNTS

The company still specializes in glass, though hand-cutting and etching have given way to more modern methods of sand etching, color screening, laser etching and rotary engraving. Suddenly, the company had gone from debating the best rollout to scrambling to get up and running.

Snap Seeks Ads From Pharmaceutical Companies

PYMNTS

In an effort to have big pharma companies advertise on Snapchat , the social media platform is reportedly pitching itself as a friendlier alternative to Twitter and Facebook. The social media company had a team speak at the DigiPharma Connect conference in February.

CoinAcquiring Targets Crypto Companies’ Banking Services Gap

PYMNTS

consulting company providing fiat-to-crypto payment processing services, now supports the opening of bank accounts for companies in the sector, a particularly challenging process for many firms, according to CoinAcquiring Senior Payments Consultant David Jones. The company did not indicate which financial institutions are part of its partnership ecosystem, however. CoinAcquiring is rolling out a bank account service targeting businesses in the cryptocurrency industry.

Lightspeed China Partners Raises $560M To Invest In China Tech Companies

PYMNTS

The company said it is the largest fund family raised by Lightspeed China Partners to date and brings the capital under management to $1.5 Investments china China tech companies internet investments Lightspeed China Partners News What's Hot

Drone Company Flytrex Secures $7.5 Million

PYMNTS

The company received $3 million in Series A funding in June 2017, bringing the total raised to $10.5 The company also partnered with online marketplace Aha in 2017 to debut an on-demand delivery service in Iceland’s capital, Reykjavik.

200 Fake Ecommerce Companies Identified

PYMNTS

Spying a fake company is difficult, even for India’s Ministry of Consumer Affairs, which just disclosed efforts around identifying about 200 fake commerce companies. The names of each company have not been released to the public, but the Ministry has escalated the matter up to the Department of Industrial Promotion and Policy (DIPP) for further action. She added that for the next few days, all consumer complaints related to commence companies will be answered via Twitter.

Financial, Regular Firms Want Banks To Work With Pot Companies

PYMNTS

Financial firms, fertilizer, beverage, and other mainstream companies are calling on Congress to enable pot companies to have access to banks. The paper pointed to Scotts Miracle-Gro and Constellation Brands as two examples of companies that want the legislation to get enacted.

European Banks Want More Regulation Of Large Tech Companies

PYMNTS

Some of the biggest banks in Europe are urging regulators to increase oversight of large technology companies that are moving into the financial services market. technology companies will choose to go only after the best parts of the financial services market. She doesn’t mind taking on tech companies but wants its to be on the same terms. The banks are concerned that opening their data in Europe will not give them the same access to the large tech companies in the U.S.

Was Noodles & Company Breached?

PYMNTS

Restaurant chain Noodles & Company is probing a credit card breach that is said to have hit several of its 500 stores. Our investigation is ongoing, and we will continue to share information,” Noodles & Company said in a statement. The fraud attack occurred as the Broomfield, CO-based company was in the process of testing and implementing EMV technology — a situation which many businesses around the U.S. Security & Fraud Noodles & Company What's Hot

Indonesian Company Bukalapak Will Likely Receive New Funding

PYMNTS

Bukalapak, an online marketplace company from Indonesia, will soon announce a new round of funding, according to reports. Bukalapak’s biggest shareholder is Indonesian media company Emtek, which had a 36.86 percent stake in the company in September of 2018.

Companies Mull IPOs Without SEC Approval

PYMNTS

Companies that want to go public during the first part of the year are hampered by a key roadblock: The month-long government shutdown has also shuttered the Securities and Exchange Commission (SEC), which usually works with companies for months before approving an IPO. Now, some companies are considering a little-known rule that could allow them to forego the SEC altogether, according to a report in The Wall Street Journal. For example, biotech companies Gossamer Bio, Inc.

GE To Form New Internet Of Things Company

PYMNTS

General Electric will establish a new independent Internet of Things (IoT) company from the GE Digital business and several of its technologies, according to the company. The new company will start with $1.2

Why 85 Pct Of Companies Want AP Automation

PYMNTS

Most companies — especially those prone to payments innovation — believe automating their B2B operations can provide a host of benefits. This means many companies are not making full use of available technology to optimize their B2B payments, leaving tremendous opportunity for market growth.

Facebook Is Looking To Buy A Cybersecurity Company

PYMNTS

Facebook is reportedly gearing up to acquire a cybersecurity company in an effort to assure users that security is a top priority of the social media company. CNET noted that Facebook declined to comment on the reports that it is looking to acquire a security company.

Noodles & Company Launches Loyalty Program And App

PYMNTS

Noodles & Company unveiled its new NoodlesREWARDS program on Wednesday as a way to say “thank you” to its loyal customers and encourage them to bring new ones into the fold. Noodles & Company serves classic noodle and pasta dishes from a variety of cultures: Italy, Thailand, Korea, Japan, Central America and the American Midwest, to name a few. Surprise noods? Who would say “no” to that?

How FinTech Companies Can Connect Buyers And Suppliers

PYMNTS

Instead, the company seeks to help them get connected and interact with providers in an interoperable manner. Companies like Modo can do that work, so providers don’t have to support all of the implementations. Payments have been a pain point throughout the evolution of merchants.

McDonald’s Buys AI-Personalization Company Dynamic Yield

PYMNTS

In a blog post , Dynamic Yield Chief Executive Liad Agmon said the company will play a critical role in transforming McDonald’s with digital technology so that it can improve customer service. Its technology helps companies build customer profiles, launch and optimize personalization campaigns and automate decision making for customers.

PayPal Invests In Emerging Markets Lending App Company Tala

PYMNTS

In a press release , Tala said the undisclosed investment from PayPal will help the company bring visibility and access to underserved regions in emerging markets across the world. It also makes it difficult for the traditional financial services companies to reach these consumers.

IKEA Looking For Partnerships With Russian Companies

PYMNTS

IKEA wants to form strategic partnerships with Russian companies to expand its online business in the country. In addition to expanding in Russia, the company is also opening its first brick-and-mortar location in India.

Prince Charles’ Charity Funded By Company With Russian Ties

PYMNTS

A charity run by Prince Charles received donations from a company used to transfer large amounts of cash from Russia. from a Russian-operated network of 70 offshore companies in one of the largest banking leaks. Why did he receive money from Troika Dialog companies?

Why Aren’t Fintech Companies Going Public?

CB Insights

Only 3 fintech companies went public in 2018. With more and more late-stage capital coming into startups, companies don’t need to submit themselves to public scrutiny and markets in order to fund their operations. The post Why Aren’t Fintech Companies Going Public?

Google Invests In Japanese AI Company ABEJA

PYMNTS

Google, in an unusual move, has invested in Japanese AI and machine learning company ABEJA during a follow-on funding round, according to a report. It uses machine learning to assist more than 150 companies with finding insight and developing business analysis from data.

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26 Unicorn Companies That Exited In 2018

CB Insights

From e-commerce to software to payments, several companies with $1B+ valuations exited in 2018. Get an excel file that has investor, total funding, industry, and other info for private companies valued at $1B+. Below are more details on the companies, ranked by exit valuation.

The Struggles of Banks as Technology Companies

Bank Innovation

It's a common refrain from bank CEOs -- "My bank is a technology company." But the reality is much rarer. JPMorgan Chase is showing it takes fintech seriously by building (or buying) a Silicon Valley campus, which will house 1,000 employees, including 250 from recently acquired WePay.

Hackers Employed By China Infiltrate Norwegian Software Company Visma

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Hackers employed by the Chinese government were able to get into the network of Visma, a Norwegian software company, to steal client secrets. Chichester said that with companies hardening their defenses for cyber attacks, the hackers are turning to suppliers to get into corporate networks.

Companies Are Shaking In Their Boots Over Digital Startups

PYMNTS

According to Dell Technologies, 78 percent of businesses are threatened by digital startups , which is propelling innovative companies ahead and accelerating the demise of others. Close to half of companies surveyed by Dell, or 45 percent, fear they could become obsolete in the next three to five years because of competition from digital startups. “So If companies can’t keep up, they will fall behind … or worse. Innovation companies Dell digital startups News What's Hot

Ant Financial Fancies Itself As A Technology Services Company

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In an interview with CNBC, Ant Financial chief executive Eric Jing said Ant Financial views itself as a technology company, and that Alipay — its digital payment service that has more than 700 million annual active users — is just the beginning of what it can do with technology. “Ant

How FinTech Companies Tackle Forex Identity Verification Challenges

PYMNTS

Regulatory changes, particularly those in Europe, are making it an interesting time for companies to be in the forex and money exchange businesses.

LendUp Credit Card Business Becomes Stand-Alone Company

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LendUp has announced it is scaling its credit card business as a stand-alone company, Mission Lane. Vijesh Iyer, previously LendUp’s COO, has been named interim CEO of Mission Lane while the company searches for a permanent chief.

Some banks are technology companies

Chris Skinner

I know that systems like Erica, short for Bank of AmErica, are up and running … The post Some banks are technology companies appeared first on Chris Skinner's blog. I was having a chat about Artificial Intelligence (AI) in banking the other day. It was an interesting conversation, although most of the examples were for customer service via Chatbots, which doesn’t impress me much.

Mall Space Finds New Life As Tech Company Workplaces

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Malls are finding new life as offices for tech companies, as developers are repurposing space formerly held by retail tenants into workplaces with high-end amenities for firms like Google.

Groupon Buys Company Behind Vouchercloud, Giftcloud

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Groupon , the deal website operator, announced news on Tuesday (May 1) that is buying Cloud Savings Company, the parent company of online discount code platform Vouchercloud and brand loyalty provider Giftcloud. In a press release, the company said it acquired the company at an enterprise value of $65 million. “We’re and beyond,” said Greg Le Tocq, co-founder and director of Cloud Savings Company, in the same press release. “In

Shipping Company XPO Refinances $1B After Amazon Pulls Business

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A global shipping company is reeling after Amazon apparently pulled business to focus on its own logistics, according to a report from Bloomberg. The company is also dealing with decreased demand for its services in Europe.

Most Fortune 100 Companies Using Software That Enabled Equifax Hack

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Equifax’s data breach of nearly two years ago hasn’t taught a majority of Fortune 100 companies a lesson, with reports stating that most are using the same vulnerable version of software that enabled hackers to infiltrate Equifax.