California’s Governor Wants Tech Companies To Share Profits With Consumers

PYMNTS

Gavin Newsom, the governor of California, wants consumers to benefit from the billions of dollars technology companies in the state made by forcing the tech companies to share their profits. According to a report in Fortune citing comments Newsom made during a State of the State speech Tuesday (February 12), Newsom talked up the idea of a so-called digital dividend that would enable the consumers in the state to access some of the profits these tech companies make off of them.

China To Launch Board For Listings Of Tech Companies

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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.

Amazon Becomes World’s Most Valuable Company

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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.

Shell Companies Eyed In Fraud At Aegean Marine

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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 Increase Regulation Of Financial Holding Companies

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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.”.

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

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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

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.

Why 85 Pct Of Companies Want AP Automation

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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.

Companies Mull IPOs Without SEC Approval

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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.

Indonesian Company Bukalapak Will Likely Receive New Funding

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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.

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.

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.

GE To Form New Internet Of Things Company

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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

European Banks Want More Regulation Of Large Tech Companies

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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.

How FinTech Companies Can Connect Buyers And Suppliers

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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.

Facebook Is Looking To Buy A Cybersecurity Company

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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.

Was Noodles & Company Breached?

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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

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.

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.

PayPal Invests In Emerging Markets Lending App Company Tala

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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.

Google Invests In Japanese AI Company ABEJA

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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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IKEA Looking For Partnerships With Russian Companies

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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.

Corcentric To Acquire Source-To-Pay Company Determine

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Procurements and accounts payable solution provider Corcentric is expanding through the acquisition of source-to-pay company Determine, the firms announced in a press release Monday (Feb.

Noodles & Company Launches Loyalty Program And App

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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?

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.

How FinTech Companies Tackle Forex Identity Verification Challenges

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

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

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.

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.

5 Fintech Companies to Watch in 2019

Bank Innovation

Here are Bank Innovation's 5 companies to watch this year, selected by editors' choice, in no particular order: PayPal This payments […]. Acquisitions, partnerships and the roll-out of various new products and services made 2018 a very active year in banking and fintech.

Companies Are Shaking In Their Boots Over Digital Startups

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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

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

SoFi CEO: Company Can Handle Fed Rate Hikes

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Anthony Noto, CEO of the financial company SoFi , said this week that his company is preparing for a landscape with higher interest rates, and that it favors quality over quantity, according to CNBC. “We The company, at the time, said it would be profitable by the end of the year.

Big Tech Companies Throw Support Behind Fed Creating Real-Time Payments Network

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Amazon , Apple and Google are among the large tech companies that are throwing their support behind the creation of a real-time payments network in the U.S. The tech companies noted that consumers want real-time payments , driven by the services rolled out by the tech companies.

Newly Public Tech Companies Sell More Shares At Unprecedented Rate

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Tech companies that have recently gone public are wading back into the market to sell more shares at a rate that the Wall Street Journal reported is at a “nearly unprecedented clip.”. tech companies during the first ten months of 2018 have come within 180 days of going public.

GAC, Tencent Ink Deal To Create Mobility Company

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GAC Group, the state-owned Chinese car company, announced Thursday (Jan. 31) that it is teaming up with Tencent , the internet and gaming company, to create a mobility company.

Jessica Alba’s Honest Company Faces A Down Round

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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.

EU To Propose Tax On Big Tech Companies’ Sales

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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.

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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.

Financial Technology Company Cross River Raises $100 Million In Funding

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Cross River, a provider of banking services for financial technology companies, has raised about $100 million in a funding round, according to a report by the company. Cross River provides services and solutions for leading FinTech companies.

Chinese Tech Companies Set Their Sights On Southeast Asia

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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.

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.