Fintech

If Pinterest is a bellwether of consumer spending, things are not looking up just yet. Still, investors in the social network rallied as Q2 revenue came in roughly in line with expectations and user declines were not as horrible as they thought. That’s not to say Pinterest’s earnings we

Publicly traded Lemonade has laid off about 60 employees of Metromile, the auto insurtech company it recently acquired — adding to the volatility the technology sector has seen over the past 18 months. In an emailed statement, a Lemonade spokesperson told technewss that it was “able to off

Non-fungible tokens may be revolutionizing the way we own and transact with digital assets in the 21st century, but they're no different than old-school physical assets in one important way: They're governed by a legal framework which, in many respects, is rooted in the 20th century. One ar

Data centers might be the lifeblood of the modern digital economy but for housing developers in some parts of London they could curtail building plans for the next 13 years. According to a report in today’s Financial Times, developers on the western side of the U.K. capital may be prevented f

China’s billionaire tech boss Jack Ma plans to cede control of Ant Group, the fintech powerhouse closely affiliated with Alibaba, the e-commerce giant he founded, The Wall Street Journal reported on Thursday. If realized, the move will mark another important turn in Ant’s restructuring

General Motors said Tuesday it's moving to take more control over its supply chain in response to a dismal second quarter that saw profits fall 40% year over year as it shifts more toward EVs. The automaker reported second-quarter net income of $1.69 billion, a 40% reduction from the $2.84 bill

The auto industry's woes are far from over, but the second half of the year represents a return to planning for the future rather than responding to short-term supply chain crises. General Motors, which reports its second-quarter financial results Tuesday, is ready to roll into the third quarte

Looking at Latin America’s socioeconomic conditions these days, you can find plenty of reasons to be pessimistic or at least daunted by how much is left to improve. Sure, problems are also opportunities, but what if there are just too many hurdles to overcome in the near future? And yet, desp

Yesterday was a big day for the crypto industry. A former Coinbase product manager was arrested alongside his brother and a friend, and charged with running a cryptocurrency insider trading scheme by the U.S. Department of Justice (DOJ). At the same time, the U.S. Securities and Ex

Cannabis is now legal in a number of U.S. states, but because it isn’t federally legal, this “legal” status only does so much for cannabis businesses. While dispensaries can sell cannabis products legally in many states, they don’t have access to the same banking facilities

Elon Musk has dominated this summer's headlines beyond the EV business he's trying to scale. During the first half of July, the Tesla CEO commanded attention for adding twins to his brood of 10 children, backing out of a $44 billion deal to buy Twitter and going shirtless while yachting on

Meta CEO Mark Zuckerberg announced today that the company is launching a new “payments in chat” feature on Instagram. With this new feature, users can purchase products from small businesses and track orders via direct messages on Instagram in the United States. To use the new feature,

Last Friday, Barter, the consumer app of Africa's most valued startup Flutterwave, told customers via email that they would not be able to access its virtual dollar card service from July 17. Hence, customers would be unable to create new virtual dollar cards, fund existing ones or make online

The web3 bandwagon really took off in 2021 and 2022 as entrepreneurs and investors both sought to make their mark in the nascent industry. But Latin America stood out thanks to its comparatively high crypto adoption: According to Kim Grauer, head of research at Chainalysis, Latin America has consis