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.

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.

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.

US Tech Companies Working With Regulators To Shape New Privacy Laws

PYMNTS

technology companies, anticipating that they will face increased regulation in how they handle consumers’ data, are working with policymakers to potentially shape the new legislation that’s expected to come from the federal government. The Journal noted that the legislation should include some of the things that the tech companies are urging.

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

EU To Propose Tax On Big Tech Companies’ Sales

PYMNTS

The European Commission is gearing up to propose new rules later Wednesday (March 21) that would require digital companies to pay more taxes — and the rules could include U.S. technology companies Google and Facebook. Citing a draft of the rules, Reuters reported that the European Commission is expected to call for companies that have a lot of digital revenue in Europe to pay a 3 percent tax on turnover at the company. The tech companies based in the U.S.

Taxes 120

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

Jessica Alba’s Honest Company Faces A Down Round

PYMNTS

Looks like Jessica Alba’s co-founded Honest Company might be in a bit of honest trouble. According to emerging news reports, the five-year-old home and body care product company is looking to raise $75 million in new Series D venture capital funding at $19.60 Honest Company’s last fundraising in 2015 was for $100 million — and at $45.75 The big price tag on Honest Company, however, is as much a limitation as it is an honor.

Lowe’s Companies Extends Synchrony Partnership

PYMNTS

To help Lowe’s Companies bring new benefits and purchasing options to its customers, it’s extending its agreement with Synchrony. Through the arrangement, Crate and Barrel will pair with Synchrony on a private label credit card as well as a new dual-branded card, the companies said in the announcement. The partnership will offer financing options in nearly 100 Crate and Barrel brick-and-mortar stores as well as through the company’s digital channels.

Warby of X: roll: Bicycle Company Goes Omnichannel

PYMNTS

Stuart Hunter, founder and CEO of roll: Bicycle Company explained how taking its bike sales online is helping customers not only overcome their fear of purchase, but also find a completely customized product that can be returned if it’s not the perfect fit. PYMNTS: How did roll: Bicycle Company get started? SH: The idea for roll: Bicycle Company was born in our brick and mortar shops. PYMNTS: How has the company disrupted or changed the bicycle industry?

Chinese Tech Companies Set Their Sights On Southeast Asia

PYMNTS

Chinese companies are setting their sights on a new market for growth: Southeast Asia and its 620 million people. According to a report by The Wall Street Journal , China’s top internet companies, including Alibaba, Tencent, Didi Chuxing and JD.com, are expanding in Southeast Asia, moving beyond the slowing economy in China. What’s more, industry watchers said in the report they think that investments on the part of Chinese tech companies will accelerate next year.

Banks are not technology companies (yet)

Chris Skinner

I’ve been illustrating my frustration with incumbent banks for some time, saying that they lack technology leadership. Almost a third of my new book talks about the biggest challenge for banks to respond to Fintech, Big Data, Cloud, Blockchain and all those other issues is to have leadership.

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.

Wyoming Lures Crypto Companies With Friendly Laws

PYMNTS

Wyoming is trying to position itself as a leader in cryptocurrency and one of the friendliest states when it comes to legislation around crypto companies. According to a report in Bloomberg back in March, Republican Governor Matt Mead signed into law legislation on limited liability corporations that is more friendly to blockchain companies, making so-called utility tokens an asset class and exempting cryptocurrency from state property taxes.

Mexican Company Offers Crypto Backed By Habaneros

PYMNTS

The company said it could pay a dividend of 30 percent of the coins’ cost each year. So far, the company has sold only 50,000 of the 1 million Agrocoins that it plans to make available. Investors can currently buy the coins on the company’s website. In an effort to raise funds from small investors, Mexico’s Amar Hidroponia is selling digital currency backed by habanero chilis.

Why Corona’s Parent Company Is Investing In Cannabis

PYMNTS

The move could give Constellation a much-needed boost after falling alcohol sales have exerted downward pressure on the company’s share price. Other alcohol brands are hoping to get in on the ground floor with pot — Molson Coors Brewing Company has started working with Hydropothecary Corp. Constellation Brands is not a household name, but the intoxicants it stands behind sure are — Robert Mondavi wine, Corona beer and Svedka vodka are all under the brand.

Citi Ventures Invests In AI Software Company Anaconda

PYMNTS

According to the report, the investment provides more insight into how Citigroup is using AI across the company. Meanwhile, Gupta noted that Anaconda is popular among students, which is what piqued his interest in the company to begin with. The company has 135 employees and $45 million in capital, and counts General Catalyst as an original investor. Both companies declined to say how much Citi Ventures invested in Anaconda other than it was “significant.”

First Cannabis Company To Go Public Raises $153M

PYMNTS

Tilray , the first cannabis company to conduct an initial public offering on a U.S. at the close of trading on Thursday (July 19), the company had a market value of nearly $2 billion. “It exchange, closed up 32 percent. According to Financial Times reporting, Tilray’s shares sold for a listing price of $17, higher than the original indicated range of $14 to $16 a share. The IPO raised $153 million. And at $22.39

Most companies are unprepared for a cyberattack

Chris Skinner

This is the second Hiscox Cyber Readiness Report, conducted by Forrester Consulting, and puts the spotlight not only on the financial consequences of individual cyber breaches but also on the enormous cost in … The post Most companies are unprepared for a cyberattack appeared first on Chris Skinner's blog. I was looking around at what’s new online, and just discovered the Hiscox 2018 Cyber Readiness Report.

Confectionery Companies: The Other Unintended Casualty Of Self-Checkout

PYMNTS

Things aren’t so bubbly for chewing gum companies and confectioners. Quartz predicts that things are about to get worse rather than better for confectionery companies. So far, only company employees have gotten to try it, but the idea is that shoppers can walk in, fill their carts and walk out. The company gave chase, and it worked. The company’s acquisition of the barkTHINS brand also gave sales a boost.

DadeSystems: Single Sign-On Helps Companies Manage App Access

PYMNTS

Through that arrangement, companies can send their employees a secure link to their email accounts that allows them to sign up for the app and complete the configuration process. This setup is important as it gives companies more control. Mobile apps aren’t just about convenience: Business apps also handle sensitive information, such as checks, security and control over user access, which is key.

Company Newsroom Checklist

William Mills

Historically, most companies assumed only journalists and members of the media visited newsrooms. This is the easiest way to showcase new products, company milestones, new executives and more. Articles that the company is featured in. Company blog.

CEO Identity Crisis For Honest Company?

PYMNTS

The rumor mill has been churning over at Honest Company, according to a few inside sources as reported by Recode this week. After a turbulent year led by an almost-filed IPO, the company began its talks with top executives from consumer package companies. To help determine next steps for Honest Company, these executives were brought in by the board of directors. We’re always looking to do what’s best for the company.”.

Couriers, Messenger Companies Helped July’s Job Growth

PYMNTS

According to a news report in The Wall Street Journal , courier and messenger companies brought on 3,200 new workers in July, marking the fourth month in a row of job increases. While courier and messenger companies are seeing job growth and increasing the number of positions they staff, hiring at warehousing and storage companies is on the decline, slashing 2,200 jobs in July. The jobs report for the month of July was strong, and the U.S.

Study: Tech Companies Could Be Running Afoul Of GDPR

PYMNTS

The European Union’s (EU) new data privacy law isn’t being followed by some of the globe’s biggest technology companies, according to research from the EU Institute. According to a report in Bloomberg , researchers found, of the 14 major technology companies’ privacy policies that used artificial intelligence software, a third of the privacy clauses were either “potentially problematic” or contained “insufficient information.”

Study 144

The Allure of Debit Cards for P2P Payment Companies

Bank Innovation

For companies focused on P2P payments such as PayPal, Venmo (owned by PayPal), Square, and savings apps like Acorns or Money Lion, the leap into the debit card business is easier, […]. In the U.S.,

India Could Relax Rules On Data With Payment Companies

PYMNTS

According to a report in Reuters , the move comes amid weeks of lobbying on the part of companies in the U.S., The news comes as countries around the globe are placing greater scrutiny on companies in how they handle customer data. Reuters noted that in April, foreign payment companies were surprised by the Reserve Bank of India’s directive calling for all payment data to be stored in India within a six-month time frame.

Data 132

Corona’s Parent Company Gets Into Pot

PYMNTS

Constellation Brands , a beer distributor that owns Corona, announced that it has signed an agreement to buy an almost 10 percent stake in Canopy Growth Corporation , the world’s largest publicly traded cannabis company. Both companies intend to enter into an agreement to exchange knowledge and expertise. Our company’s success is the result of our focus on identifying early stage consumer trends, and this is another step in that direction.”.

Kroger Acquires Meal Kit Company Home Chef

PYMNTS

has announced a merger with Home Chef , the country’s largest private meal kit company. ” Home Chef currently leads the industry with the most variety among the leading meal kit companies, offering innovations like 5-Minute Lunches, Flexible Serving options and easy-to-prepare meals. “As one of the fastest growing meal kit companies in the country, Home Chef is poised for even more explosive growth,” said Cosset. The Kroger Co.

Rideshare Companies Offer $100M Relief Fund For NYC Taxi Drivers

PYMNTS

The proposal, as detailed in documents provided to TechCrunch by Lyft, would have the companies contributing $20 million per year into a “hardship fund” that would be used to bail out taxi drivers who bought into the old system at great cost and are unlikely to recoup their investment. But the money was contingent on New York dropping its proposed regulations that would limit the number of ride-hailing drivers in the city, which could cost the ridesharing companies more than $100 million.

SEC Investment Company Reporting Modernization Support

Perficient Financial Servies

The first thing any investment company must do in response to the new SEC Investment Company Reporting Modernization is evaluate its current state of readiness. If you are interested in learning more about the SEC’s Investment Company Reporting Modernization Rules, download the recent guide we published. Chances are you have started a compliance program.

Will Jessica Alba’s Honest Company Get Bought Out?

PYMNTS

It seems that the Jessica Alba cofounded company Honest Company may be in talks to sell out to one of the big consumer product firms, like Unilever or Procter & Gamble. Honest Company was most recently valued at $1.7 The companies involved did not immediately respond to a request for comment. Honest Company was founded in 2011, is led by CEO Brian Lee and started out by selling nontoxic, eco-friendly diapers and other baby products. Retail Honest Company

Lyft Plans to Buy a Bike-Sharing Company

PYMNTS

Lyft will buy the bike-sharing company Motivate , according to report in The Information. The two companies have agreed on the terms of the deal, although it hasn’t been finalized, one of these people said,” The Information said. The Uber and Lyft deals demonstrate the companies’ belief that cars might not serve as the tools of profit they now are, according to The Information. The potential deal follows a similar move by Uber in April.

Seattle Approves Next Tax For Big Companies Like Amazon

PYMNTS

Seattle’s city council has approved a new tax for the city’s biggest companies, including Amazon , to combat a housing crisis impacting the city’s working class. The new tax was passed with a 9-0 vote, and would affect most companies grossing at least $20 million a year. At 14 cents per employee per hour worked within the city, the new tax would cost companies about $275 annually for each worker.

Toys R Us Embraces Blockchain To Save Company

PYMNTS

And the money came rolling in, to the tune of $7 billion in a day, from investors everywhere, and the company’s debt was retired. Upon announcing the name change, the company said in a statement it would take a page from President Donald Trump’s campaign playbook, which included imploring voters with the statement: “What the hell do you have to lose?”. They did it for the children.

Bitcoin Regulatory Roundup: SEC Swoops In On The Crypto Company After Surge

PYMNTS

have suspended a bitcoin-focused company following questionable business practices, Singapore is advising “extreme caution” when investing in the potential bubble and neither Japan nor South Korea is recognizing cryptocurrencies as actual currencies. A small company saw shares increase 2,700 percent in the last month following its participation in the bitcoin cryptocurrency boom. Securities and Exchange Commission (SEC) has suspended trading for The Crypto Company shares until Jan.

8 Companies That Own The Beauty Aisle

CB Insights

While there are tons of startups pushing forward new beauty trends, the market still largely belongs to a handful of companies who own the majority of household personal care brands. Beauty is booming and the number of brands in the space is exploding.

WhatsApp Founder Leaves Company Over Facebook Data Strategy

PYMNTS

The co-founder of WhatsApp, a messaging service owned by Facebook , announced he is leaving the company. Jan Koum, who co-founded WhatsApp with Brian Acton, is leaving the company after disagreements over the messaging service’s strategy, as well as Facebook’s attempts to use its personal data and weaken its encryption. “It’s Acton left the messaging service company in September to start a foundation.

Most Efficient Bank Holding Companies

BankThink

Performance reports Ranking the banks Banks, thrifts and holding companiesYear to date through Mar. 31, 2018. Dollars in thousands.

Chip-Reader Lawsuit Proceeds Against Card Companies

PYMNTS

Now, the big card companies — Visa, Mastercard, American Express and others — are all facing a class-action lawsuit brought by retailers over the new chip readers. and Grove Liquors LLC are suing on behalf of merchants nationwide, alleging that the credit card companies conspired to dump fraudulent transactions on merchants that didn’t make the EMV card deadline. It’s been a year since the EMV card reader deadline.