id
stringlengths 1
5
| contents
stringlengths 354
1.98k
|
|---|---|
5600
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Healthcare player Resmed (down 2.8 per cent) and lithium miner Liontown Resources (down 2.8 per cent) both bucked the trend among their respective sectors. The lowdown
Hotter-than-expected inflation data and the prospect of more rate rises in the world’s biggest economy weighed on sentiment in the Australian sharemarket as interest-rate sensitive sectors such as IT and consumer discretionary dragged the index lower on Friday. While commodity prices boosted iron ore players, company specific news was behind some of the biggest swings. Resmed extended its losses after brokers at RBC downgraded the stock and gold miner Newcrest stepped up after investors approved its merger with US gold mining giant Newmont. US stocks slipped on Thursday as the clamps tighten on Wall Street from rising yields in the bond market. The S&P 500 was 0.7 per cent lower in afternoon trading and on track to break a four-day winning streak, its longest since August.
|
5601
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
The lowdown
Hotter-than-expected inflation data and the prospect of more rate rises in the world’s biggest economy weighed on sentiment in the Australian sharemarket as interest-rate sensitive sectors such as IT and consumer discretionary dragged the index lower on Friday. While commodity prices boosted iron ore players, company specific news was behind some of the biggest swings. Resmed extended its losses after brokers at RBC downgraded the stock and gold miner Newcrest stepped up after investors approved its merger with US gold mining giant Newmont. US stocks slipped on Thursday as the clamps tighten on Wall Street from rising yields in the bond market. The S&P 500 was 0.7 per cent lower in afternoon trading and on track to break a four-day winning streak, its longest since August. The Dow Jones Industrial Average was down 204 points, or 0.6 per cent, as of 3pm Eastern time, and the Nasdaq composite was 0.8 per cent lower.
|
5602
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
While commodity prices boosted iron ore players, company specific news was behind some of the biggest swings. Resmed extended its losses after brokers at RBC downgraded the stock and gold miner Newcrest stepped up after investors approved its merger with US gold mining giant Newmont. US stocks slipped on Thursday as the clamps tighten on Wall Street from rising yields in the bond market. The S&P 500 was 0.7 per cent lower in afternoon trading and on track to break a four-day winning streak, its longest since August. The Dow Jones Industrial Average was down 204 points, or 0.6 per cent, as of 3pm Eastern time, and the Nasdaq composite was 0.8 per cent lower.
The stock market has largely been taking its cue from the bond market recently, and weak results announced in the afternoon for an auction of 30-year Treasury bonds sent yields of all kinds higher. Higher yields can knock down prices for stocks and slow the economy by making borrowing more expensive.
|
5603
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Resmed extended its losses after brokers at RBC downgraded the stock and gold miner Newcrest stepped up after investors approved its merger with US gold mining giant Newmont. US stocks slipped on Thursday as the clamps tighten on Wall Street from rising yields in the bond market. The S&P 500 was 0.7 per cent lower in afternoon trading and on track to break a four-day winning streak, its longest since August. The Dow Jones Industrial Average was down 204 points, or 0.6 per cent, as of 3pm Eastern time, and the Nasdaq composite was 0.8 per cent lower.
The stock market has largely been taking its cue from the bond market recently, and weak results announced in the afternoon for an auction of 30-year Treasury bonds sent yields of all kinds higher. Higher yields can knock down prices for stocks and slow the economy by making borrowing more expensive. Yields had already been on the rise in the morning after a report that showed inflation at the consumer level was a touch higher last month than economists expected.
|
5604
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
US stocks slipped on Thursday as the clamps tighten on Wall Street from rising yields in the bond market. The S&P 500 was 0.7 per cent lower in afternoon trading and on track to break a four-day winning streak, its longest since August. The Dow Jones Industrial Average was down 204 points, or 0.6 per cent, as of 3pm Eastern time, and the Nasdaq composite was 0.8 per cent lower.
The stock market has largely been taking its cue from the bond market recently, and weak results announced in the afternoon for an auction of 30-year Treasury bonds sent yields of all kinds higher. Higher yields can knock down prices for stocks and slow the economy by making borrowing more expensive. Yields had already been on the rise in the morning after a report that showed inflation at the consumer level was a touch higher last month than economists expected. That raises worries about the Federal Reserve keeping its main interest rate high for a long time, as it tries to undercut inflation by knocking down investment prices and slowing the economy.
|
5605
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
The S&P 500 was 0.7 per cent lower in afternoon trading and on track to break a four-day winning streak, its longest since August. The Dow Jones Industrial Average was down 204 points, or 0.6 per cent, as of 3pm Eastern time, and the Nasdaq composite was 0.8 per cent lower.
The stock market has largely been taking its cue from the bond market recently, and weak results announced in the afternoon for an auction of 30-year Treasury bonds sent yields of all kinds higher. Higher yields can knock down prices for stocks and slow the economy by making borrowing more expensive. Yields had already been on the rise in the morning after a report that showed inflation at the consumer level was a touch higher last month than economists expected. That raises worries about the Federal Reserve keeping its main interest rate high for a long time, as it tries to undercut inflation by knocking down investment prices and slowing the economy. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1.
|
5606
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
The Dow Jones Industrial Average was down 204 points, or 0.6 per cent, as of 3pm Eastern time, and the Nasdaq composite was 0.8 per cent lower.
The stock market has largely been taking its cue from the bond market recently, and weak results announced in the afternoon for an auction of 30-year Treasury bonds sent yields of all kinds higher. Higher yields can knock down prices for stocks and slow the economy by making borrowing more expensive. Yields had already been on the rise in the morning after a report that showed inflation at the consumer level was a touch higher last month than economists expected. That raises worries about the Federal Reserve keeping its main interest rate high for a long time, as it tries to undercut inflation by knocking down investment prices and slowing the economy. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1. The inflation report, though, also had some encouraging nuggets for financial markets underneath the surface.
|
5607
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
The stock market has largely been taking its cue from the bond market recently, and weak results announced in the afternoon for an auction of 30-year Treasury bonds sent yields of all kinds higher. Higher yields can knock down prices for stocks and slow the economy by making borrowing more expensive. Yields had already been on the rise in the morning after a report that showed inflation at the consumer level was a touch higher last month than economists expected. That raises worries about the Federal Reserve keeping its main interest rate high for a long time, as it tries to undercut inflation by knocking down investment prices and slowing the economy. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1. The inflation report, though, also had some encouraging nuggets for financial markets underneath the surface. After ignoring prices for food and fuel, which Fed officials see as a better predictor of where inflation is heading, prices that consumers had to pay last month were in line with expectations.
|
5608
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Higher yields can knock down prices for stocks and slow the economy by making borrowing more expensive. Yields had already been on the rise in the morning after a report that showed inflation at the consumer level was a touch higher last month than economists expected. That raises worries about the Federal Reserve keeping its main interest rate high for a long time, as it tries to undercut inflation by knocking down investment prices and slowing the economy. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1. The inflation report, though, also had some encouraging nuggets for financial markets underneath the surface. After ignoring prices for food and fuel, which Fed officials see as a better predictor of where inflation is heading, prices that consumers had to pay last month were in line with expectations. They also continued to decelerate from earlier months. A second economic report from the morning likewise offered both encouragement and caution for financial markets.
|
5609
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Yields had already been on the rise in the morning after a report that showed inflation at the consumer level was a touch higher last month than economists expected. That raises worries about the Federal Reserve keeping its main interest rate high for a long time, as it tries to undercut inflation by knocking down investment prices and slowing the economy. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1. The inflation report, though, also had some encouraging nuggets for financial markets underneath the surface. After ignoring prices for food and fuel, which Fed officials see as a better predictor of where inflation is heading, prices that consumers had to pay last month were in line with expectations. They also continued to decelerate from earlier months. A second economic report from the morning likewise offered both encouragement and caution for financial markets. It said slightly fewer US workers than expected applied for unemployment benefits last week.
|
5610
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Yields had already been on the rise in the morning after a report that showed inflation at the consumer level was a touch higher last month than economists expected. That raises worries about the Federal Reserve keeping its main interest rate high for a long time, as it tries to undercut inflation by knocking down investment prices and slowing the economy. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1. The inflation report, though, also had some encouraging nuggets for financial markets underneath the surface. After ignoring prices for food and fuel, which Fed officials see as a better predictor of where inflation is heading, prices that consumers had to pay last month were in line with expectations. They also continued to decelerate from earlier months. A second economic report from the morning likewise offered both encouragement and caution for financial markets. It said slightly fewer US workers than expected applied for unemployment benefits last week. On one hand, it indicates a job market with few lay-offs, which means strength for the overall economy.
|
5611
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
That raises worries about the Federal Reserve keeping its main interest rate high for a long time, as it tries to undercut inflation by knocking down investment prices and slowing the economy. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1. The inflation report, though, also had some encouraging nuggets for financial markets underneath the surface. After ignoring prices for food and fuel, which Fed officials see as a better predictor of where inflation is heading, prices that consumers had to pay last month were in line with expectations. They also continued to decelerate from earlier months. A second economic report from the morning likewise offered both encouragement and caution for financial markets. It said slightly fewer US workers than expected applied for unemployment benefits last week. On one hand, it indicates a job market with few lay-offs, which means strength for the overall economy. But it could also be adding fuel to keep upward pressure on inflation.
|
5612
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1. The inflation report, though, also had some encouraging nuggets for financial markets underneath the surface. After ignoring prices for food and fuel, which Fed officials see as a better predictor of where inflation is heading, prices that consumers had to pay last month were in line with expectations. They also continued to decelerate from earlier months. A second economic report from the morning likewise offered both encouragement and caution for financial markets. It said slightly fewer US workers than expected applied for unemployment benefits last week. On one hand, it indicates a job market with few lay-offs, which means strength for the overall economy. But it could also be adding fuel to keep upward pressure on inflation.
After the reports, the 10-year Treasury yield rose to 4.7 per cent from 4.56 per cent late Wednesday.
|
5613
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1. The inflation report, though, also had some encouraging nuggets for financial markets underneath the surface. After ignoring prices for food and fuel, which Fed officials see as a better predictor of where inflation is heading, prices that consumers had to pay last month were in line with expectations. They also continued to decelerate from earlier months. A second economic report from the morning likewise offered both encouragement and caution for financial markets. It said slightly fewer US workers than expected applied for unemployment benefits last week. On one hand, it indicates a job market with few lay-offs, which means strength for the overall economy. But it could also be adding fuel to keep upward pressure on inflation.
After the reports, the 10-year Treasury yield rose to 4.7 per cent from 4.56 per cent late Wednesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, climbed to 5.06 per cent from 4.99 per cent.
|
5614
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
After ignoring prices for food and fuel, which Fed officials see as a better predictor of where inflation is heading, prices that consumers had to pay last month were in line with expectations. They also continued to decelerate from earlier months. A second economic report from the morning likewise offered both encouragement and caution for financial markets. It said slightly fewer US workers than expected applied for unemployment benefits last week. On one hand, it indicates a job market with few lay-offs, which means strength for the overall economy. But it could also be adding fuel to keep upward pressure on inflation.
After the reports, the 10-year Treasury yield rose to 4.7 per cent from 4.56 per cent late Wednesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, climbed to 5.06 per cent from 4.99 per cent. Yields are still down slightly for the week so far.
|
5615
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
After ignoring prices for food and fuel, which Fed officials see as a better predictor of where inflation is heading, prices that consumers had to pay last month were in line with expectations. They also continued to decelerate from earlier months. A second economic report from the morning likewise offered both encouragement and caution for financial markets. It said slightly fewer US workers than expected applied for unemployment benefits last week. On one hand, it indicates a job market with few lay-offs, which means strength for the overall economy. But it could also be adding fuel to keep upward pressure on inflation.
After the reports, the 10-year Treasury yield rose to 4.7 per cent from 4.56 per cent late Wednesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, climbed to 5.06 per cent from 4.99 per cent. Yields are still down slightly for the week so far. After jumping last week to their highest levels in more than a decade, yields regressed following speeches that investors saw as hints that the Fed may not raise its main overnight interest rate further.
|
5616
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
They also continued to decelerate from earlier months. A second economic report from the morning likewise offered both encouragement and caution for financial markets. It said slightly fewer US workers than expected applied for unemployment benefits last week. On one hand, it indicates a job market with few lay-offs, which means strength for the overall economy. But it could also be adding fuel to keep upward pressure on inflation.
After the reports, the 10-year Treasury yield rose to 4.7 per cent from 4.56 per cent late Wednesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, climbed to 5.06 per cent from 4.99 per cent. Yields are still down slightly for the week so far. After jumping last week to their highest levels in more than a decade, yields regressed following speeches that investors saw as hints that the Fed may not raise its main overnight interest rate further. Loading The big jump for the 10-year Treasury yield since the summer has pulled mortgage rates to their highest levels since the turn of the millennium, and such moves could slow the economy without requiring more Fed hikes.
|
5617
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
On one hand, it indicates a job market with few lay-offs, which means strength for the overall economy. But it could also be adding fuel to keep upward pressure on inflation.
After the reports, the 10-year Treasury yield rose to 4.7 per cent from 4.56 per cent late Wednesday. The two-year Treasury yield, which more closely tracks expectations for the Fed, climbed to 5.06 per cent from 4.99 per cent. Yields are still down slightly for the week so far. After jumping last week to their highest levels in more than a decade, yields regressed following speeches that investors saw as hints that the Fed may not raise its main overnight interest rate further. Loading The big jump for the 10-year Treasury yield since the summer has pulled mortgage rates to their highest levels since the turn of the millennium, and such moves could slow the economy without requiring more Fed hikes. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1, when it announces its next move on interest rates, said Seema Shah, chief global strategist at Principal Asset Management.
|
5618
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
The two-year Treasury yield, which more closely tracks expectations for the Fed, climbed to 5.06 per cent from 4.99 per cent. Yields are still down slightly for the week so far. After jumping last week to their highest levels in more than a decade, yields regressed following speeches that investors saw as hints that the Fed may not raise its main overnight interest rate further. Loading The big jump for the 10-year Treasury yield since the summer has pulled mortgage rates to their highest levels since the turn of the millennium, and such moves could slow the economy without requiring more Fed hikes. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1, when it announces its next move on interest rates, said Seema Shah, chief global strategist at Principal Asset Management. She called the data “reassuringly uneventful”.
|
5619
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
The two-year Treasury yield, which more closely tracks expectations for the Fed, climbed to 5.06 per cent from 4.99 per cent. Yields are still down slightly for the week so far. After jumping last week to their highest levels in more than a decade, yields regressed following speeches that investors saw as hints that the Fed may not raise its main overnight interest rate further. Loading The big jump for the 10-year Treasury yield since the summer has pulled mortgage rates to their highest levels since the turn of the millennium, and such moves could slow the economy without requiring more Fed hikes. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1, when it announces its next move on interest rates, said Seema Shah, chief global strategist at Principal Asset Management. She called the data “reassuringly uneventful”.
“The question around whether or not there will be one more interest rate hike is yet to be answered,” she said.
|
5620
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Yields are still down slightly for the week so far. After jumping last week to their highest levels in more than a decade, yields regressed following speeches that investors saw as hints that the Fed may not raise its main overnight interest rate further. Loading The big jump for the 10-year Treasury yield since the summer has pulled mortgage rates to their highest levels since the turn of the millennium, and such moves could slow the economy without requiring more Fed hikes. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1, when it announces its next move on interest rates, said Seema Shah, chief global strategist at Principal Asset Management. She called the data “reassuringly uneventful”.
“The question around whether or not there will be one more interest rate hike is yet to be answered,” she said. Rising crude oil prices have put extra pressure on inflation since the summer, and they were volatile again on Thursday.
|
5621
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
After jumping last week to their highest levels in more than a decade, yields regressed following speeches that investors saw as hints that the Fed may not raise its main overnight interest rate further. Loading The big jump for the 10-year Treasury yield since the summer has pulled mortgage rates to their highest levels since the turn of the millennium, and such moves could slow the economy without requiring more Fed hikes. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1, when it announces its next move on interest rates, said Seema Shah, chief global strategist at Principal Asset Management. She called the data “reassuringly uneventful”.
“The question around whether or not there will be one more interest rate hike is yet to be answered,” she said. Rising crude oil prices have put extra pressure on inflation since the summer, and they were volatile again on Thursday. After jumping early in the day, a barrel of benchmark US crude slipped US58¢ to settle at $US82.91.
|
5622
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Loading The big jump for the 10-year Treasury yield since the summer has pulled mortgage rates to their highest levels since the turn of the millennium, and such moves could slow the economy without requiring more Fed hikes. Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1, when it announces its next move on interest rates, said Seema Shah, chief global strategist at Principal Asset Management. She called the data “reassuringly uneventful”.
“The question around whether or not there will be one more interest rate hike is yet to be answered,” she said. Rising crude oil prices have put extra pressure on inflation since the summer, and they were volatile again on Thursday. After jumping early in the day, a barrel of benchmark US crude slipped US58¢ to settle at $US82.91. Brent crude, the international standard, rose US18¢ to $US86 a barrel.
|
5623
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Nothing in Thursday’s inflation report should sway the Fed one way or the other when it comes to what it will do on November 1, when it announces its next move on interest rates, said Seema Shah, chief global strategist at Principal Asset Management. She called the data “reassuringly uneventful”.
“The question around whether or not there will be one more interest rate hike is yet to be answered,” she said. Rising crude oil prices have put extra pressure on inflation since the summer, and they were volatile again on Thursday. After jumping early in the day, a barrel of benchmark US crude slipped US58¢ to settle at $US82.91. Brent crude, the international standard, rose US18¢ to $US86 a barrel. After jumping since the summer and then regressing a couple of weeks ago, crude prices have been shaky following the latest fighting in Gaza. The worry is the violence could lead to disruptions in the supply of petroleum.
|
5624
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
She called the data “reassuringly uneventful”.
“The question around whether or not there will be one more interest rate hike is yet to be answered,” she said. Rising crude oil prices have put extra pressure on inflation since the summer, and they were volatile again on Thursday. After jumping early in the day, a barrel of benchmark US crude slipped US58¢ to settle at $US82.91. Brent crude, the international standard, rose US18¢ to $US86 a barrel. After jumping since the summer and then regressing a couple of weeks ago, crude prices have been shaky following the latest fighting in Gaza. The worry is the violence could lead to disruptions in the supply of petroleum. Crude prices have been shaky following the latest fighting in Gaza. Credit: Bloomberg Higher oil prices add costs across the economy, and airlines are particularly affected because fuel is one of their biggest expenses.
|
5625
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
She called the data “reassuringly uneventful”.
“The question around whether or not there will be one more interest rate hike is yet to be answered,” she said. Rising crude oil prices have put extra pressure on inflation since the summer, and they were volatile again on Thursday. After jumping early in the day, a barrel of benchmark US crude slipped US58¢ to settle at $US82.91. Brent crude, the international standard, rose US18¢ to $US86 a barrel. After jumping since the summer and then regressing a couple of weeks ago, crude prices have been shaky following the latest fighting in Gaza. The worry is the violence could lead to disruptions in the supply of petroleum. Crude prices have been shaky following the latest fighting in Gaza. Credit: Bloomberg Higher oil prices add costs across the economy, and airlines are particularly affected because fuel is one of their biggest expenses.
Delta Air Lines fell 2.3 per cent despite reporting stronger profit for the summer than analysts expected.
|
5626
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Rising crude oil prices have put extra pressure on inflation since the summer, and they were volatile again on Thursday. After jumping early in the day, a barrel of benchmark US crude slipped US58¢ to settle at $US82.91. Brent crude, the international standard, rose US18¢ to $US86 a barrel. After jumping since the summer and then regressing a couple of weeks ago, crude prices have been shaky following the latest fighting in Gaza. The worry is the violence could lead to disruptions in the supply of petroleum. Crude prices have been shaky following the latest fighting in Gaza. Credit: Bloomberg Higher oil prices add costs across the economy, and airlines are particularly affected because fuel is one of their biggest expenses.
Delta Air Lines fell 2.3 per cent despite reporting stronger profit for the summer than analysts expected. It also reported encouraging trends for bookings going into the holiday season.
|
5627
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Rising crude oil prices have put extra pressure on inflation since the summer, and they were volatile again on Thursday. After jumping early in the day, a barrel of benchmark US crude slipped US58¢ to settle at $US82.91. Brent crude, the international standard, rose US18¢ to $US86 a barrel. After jumping since the summer and then regressing a couple of weeks ago, crude prices have been shaky following the latest fighting in Gaza. The worry is the violence could lead to disruptions in the supply of petroleum. Crude prices have been shaky following the latest fighting in Gaza. Credit: Bloomberg Higher oil prices add costs across the economy, and airlines are particularly affected because fuel is one of their biggest expenses.
Delta Air Lines fell 2.3 per cent despite reporting stronger profit for the summer than analysts expected. It also reported encouraging trends for bookings going into the holiday season. The result heads a reporting season for S&P 500 companies that could mark a return to profit growth after three straight quarters of declines.
|
5628
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
After jumping early in the day, a barrel of benchmark US crude slipped US58¢ to settle at $US82.91. Brent crude, the international standard, rose US18¢ to $US86 a barrel. After jumping since the summer and then regressing a couple of weeks ago, crude prices have been shaky following the latest fighting in Gaza. The worry is the violence could lead to disruptions in the supply of petroleum. Crude prices have been shaky following the latest fighting in Gaza. Credit: Bloomberg Higher oil prices add costs across the economy, and airlines are particularly affected because fuel is one of their biggest expenses.
Delta Air Lines fell 2.3 per cent despite reporting stronger profit for the summer than analysts expected. It also reported encouraging trends for bookings going into the holiday season. The result heads a reporting season for S&P 500 companies that could mark a return to profit growth after three straight quarters of declines. Several financial giants will report on Friday, including Citigroup, JPMorgan Chase and Wells Fargo, along with UnitedHealth Group.
|
5629
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Brent crude, the international standard, rose US18¢ to $US86 a barrel. After jumping since the summer and then regressing a couple of weeks ago, crude prices have been shaky following the latest fighting in Gaza. The worry is the violence could lead to disruptions in the supply of petroleum. Crude prices have been shaky following the latest fighting in Gaza. Credit: Bloomberg Higher oil prices add costs across the economy, and airlines are particularly affected because fuel is one of their biggest expenses.
Delta Air Lines fell 2.3 per cent despite reporting stronger profit for the summer than analysts expected. It also reported encouraging trends for bookings going into the holiday season. The result heads a reporting season for S&P 500 companies that could mark a return to profit growth after three straight quarters of declines. Several financial giants will report on Friday, including Citigroup, JPMorgan Chase and Wells Fargo, along with UnitedHealth Group. Ford Motors slumped 1.9 per cent after the United Auto Workers union escalated its walkout against Detroit automakers.
|
5630
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
The worry is the violence could lead to disruptions in the supply of petroleum. Crude prices have been shaky following the latest fighting in Gaza. Credit: Bloomberg Higher oil prices add costs across the economy, and airlines are particularly affected because fuel is one of their biggest expenses.
Delta Air Lines fell 2.3 per cent despite reporting stronger profit for the summer than analysts expected. It also reported encouraging trends for bookings going into the holiday season. The result heads a reporting season for S&P 500 companies that could mark a return to profit growth after three straight quarters of declines. Several financial giants will report on Friday, including Citigroup, JPMorgan Chase and Wells Fargo, along with UnitedHealth Group. Ford Motors slumped 1.9 per cent after the United Auto Workers union escalated its walkout against Detroit automakers. In a surprise move, 8700 workers left their jobs at a Ford truck plant in Louisville, Kentucky.
|
5631
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
The worry is the violence could lead to disruptions in the supply of petroleum. Crude prices have been shaky following the latest fighting in Gaza. Credit: Bloomberg Higher oil prices add costs across the economy, and airlines are particularly affected because fuel is one of their biggest expenses.
Delta Air Lines fell 2.3 per cent despite reporting stronger profit for the summer than analysts expected. It also reported encouraging trends for bookings going into the holiday season. The result heads a reporting season for S&P 500 companies that could mark a return to profit growth after three straight quarters of declines. Several financial giants will report on Friday, including Citigroup, JPMorgan Chase and Wells Fargo, along with UnitedHealth Group. Ford Motors slumped 1.9 per cent after the United Auto Workers union escalated its walkout against Detroit automakers. In a surprise move, 8700 workers left their jobs at a Ford truck plant in Louisville, Kentucky. In stock markets abroad, indexes were mixed in Europe after rising sharply in much of Asia.
|
5632
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
Crude prices have been shaky following the latest fighting in Gaza. Credit: Bloomberg Higher oil prices add costs across the economy, and airlines are particularly affected because fuel is one of their biggest expenses.
Delta Air Lines fell 2.3 per cent despite reporting stronger profit for the summer than analysts expected. It also reported encouraging trends for bookings going into the holiday season. The result heads a reporting season for S&P 500 companies that could mark a return to profit growth after three straight quarters of declines. Several financial giants will report on Friday, including Citigroup, JPMorgan Chase and Wells Fargo, along with UnitedHealth Group. Ford Motors slumped 1.9 per cent after the United Auto Workers union escalated its walkout against Detroit automakers. In a surprise move, 8700 workers left their jobs at a Ford truck plant in Louisville, Kentucky. In stock markets abroad, indexes were mixed in Europe after rising sharply in much of Asia.
Tweet of the day Quote of the day “With the continued growth of distributed work, Loom helps bridge the collaboration gaps for dispersed teams in deeply human ways,” said Loom co-founder and billionaire Mike Cannon-Brookes as Atlassian announced it was acquiring former tech unicorn Loom, a US-based pioneer in enterprise video chat and screen recording.
|
5633
|
ASX to open lower; Wall Street falls as the clamp tightens from rising bond yields
The result heads a reporting season for S&P 500 companies that could mark a return to profit growth after three straight quarters of declines. Several financial giants will report on Friday, including Citigroup, JPMorgan Chase and Wells Fargo, along with UnitedHealth Group. Ford Motors slumped 1.9 per cent after the United Auto Workers union escalated its walkout against Detroit automakers. In a surprise move, 8700 workers left their jobs at a Ford truck plant in Louisville, Kentucky. In stock markets abroad, indexes were mixed in Europe after rising sharply in much of Asia.
Tweet of the day Quote of the day “With the continued growth of distributed work, Loom helps bridge the collaboration gaps for dispersed teams in deeply human ways,” said Loom co-founder and billionaire Mike Cannon-Brookes as Atlassian announced it was acquiring former tech unicorn Loom, a US-based pioneer in enterprise video chat and screen recording. You may have missed
|
5634
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! After a bit of a quiet period, things in the world of fintech picked up in a big way this past week. We wrote about some notable fundraises, how PayPal was hit with an antitrust lawsuit, how Bolt is trying to move on after an SEC probe, and much more.
Rainforest takes on the bigger players
It’s not every day that we’re pitched companies that feel like they are taking on bigger players in a really meaningful way. This past week, I wrote about Rainforest, an Atlanta-based startup that is taking on incumbents such as Fiserv and FIS, as well as trying to take market share from other fintechs such as Stripe with its offering. Rainforest works with software companies to help them embed financial services and payments into their platforms.
|
5635
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
If you want to receive The Interchange directly in your inbox every Sunday, head here to sign up! After a bit of a quiet period, things in the world of fintech picked up in a big way this past week. We wrote about some notable fundraises, how PayPal was hit with an antitrust lawsuit, how Bolt is trying to move on after an SEC probe, and much more.
Rainforest takes on the bigger players
It’s not every day that we’re pitched companies that feel like they are taking on bigger players in a really meaningful way. This past week, I wrote about Rainforest, an Atlanta-based startup that is taking on incumbents such as Fiserv and FIS, as well as trying to take market share from other fintechs such as Stripe with its offering. Rainforest works with software companies to help them embed financial services and payments into their platforms. In an interview with TechCrunch, CEO and co-founder Joshua Silver respectfully disagreed with a16z general partner Angela Strange about her 2019 statement that every company would become a fintech.
|
5636
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
We wrote about some notable fundraises, how PayPal was hit with an antitrust lawsuit, how Bolt is trying to move on after an SEC probe, and much more.
Rainforest takes on the bigger players
It’s not every day that we’re pitched companies that feel like they are taking on bigger players in a really meaningful way. This past week, I wrote about Rainforest, an Atlanta-based startup that is taking on incumbents such as Fiserv and FIS, as well as trying to take market share from other fintechs such as Stripe with its offering. Rainforest works with software companies to help them embed financial services and payments into their platforms. In an interview with TechCrunch, CEO and co-founder Joshua Silver respectfully disagreed with a16z general partner Angela Strange about her 2019 statement that every company would become a fintech. In his view, most software companies don’t actually want to be fintechs and deal with all the regulatory and compliance issues that go with that.
|
5637
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Rainforest takes on the bigger players
It’s not every day that we’re pitched companies that feel like they are taking on bigger players in a really meaningful way. This past week, I wrote about Rainforest, an Atlanta-based startup that is taking on incumbents such as Fiserv and FIS, as well as trying to take market share from other fintechs such as Stripe with its offering. Rainforest works with software companies to help them embed financial services and payments into their platforms. In an interview with TechCrunch, CEO and co-founder Joshua Silver respectfully disagreed with a16z general partner Angela Strange about her 2019 statement that every company would become a fintech. In his view, most software companies don’t actually want to be fintechs and deal with all the regulatory and compliance issues that go with that. They really just want to be able to accept payments and generate more revenue from being able to do so.
|
5638
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Rainforest takes on the bigger players
It’s not every day that we’re pitched companies that feel like they are taking on bigger players in a really meaningful way. This past week, I wrote about Rainforest, an Atlanta-based startup that is taking on incumbents such as Fiserv and FIS, as well as trying to take market share from other fintechs such as Stripe with its offering. Rainforest works with software companies to help them embed financial services and payments into their platforms. In an interview with TechCrunch, CEO and co-founder Joshua Silver respectfully disagreed with a16z general partner Angela Strange about her 2019 statement that every company would become a fintech. In his view, most software companies don’t actually want to be fintechs and deal with all the regulatory and compliance issues that go with that. They really just want to be able to accept payments and generate more revenue from being able to do so.
Accel led the company’s $8.5 million seed round, which included participation from Infinity Ventures, BoxGroup, The Fintech Fund, Tech Square Ventures, and Ardent Venture Partners.
|
5639
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Rainforest works with software companies to help them embed financial services and payments into their platforms. In an interview with TechCrunch, CEO and co-founder Joshua Silver respectfully disagreed with a16z general partner Angela Strange about her 2019 statement that every company would become a fintech. In his view, most software companies don’t actually want to be fintechs and deal with all the regulatory and compliance issues that go with that. They really just want to be able to accept payments and generate more revenue from being able to do so.
Accel led the company’s $8.5 million seed round, which included participation from Infinity Ventures, BoxGroup, The Fintech Fund, Tech Square Ventures, and Ardent Venture Partners.
It’s always cool to see startups outside the coasts growing, and Silver’s confidence that what Rainforest is building will make it a formidable player in the space feels like it has merit.
|
5640
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Rainforest works with software companies to help them embed financial services and payments into their platforms. In an interview with TechCrunch, CEO and co-founder Joshua Silver respectfully disagreed with a16z general partner Angela Strange about her 2019 statement that every company would become a fintech. In his view, most software companies don’t actually want to be fintechs and deal with all the regulatory and compliance issues that go with that. They really just want to be able to accept payments and generate more revenue from being able to do so.
Accel led the company’s $8.5 million seed round, which included participation from Infinity Ventures, BoxGroup, The Fintech Fund, Tech Square Ventures, and Ardent Venture Partners.
It’s always cool to see startups outside the coasts growing, and Silver’s confidence that what Rainforest is building will make it a formidable player in the space feels like it has merit. Founded in 2022, the startup has seen impressive growth in a short period of time, securing client commitments representing more than $500 million in processing, with much of the volume guaranteed.
|
5641
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
In his view, most software companies don’t actually want to be fintechs and deal with all the regulatory and compliance issues that go with that. They really just want to be able to accept payments and generate more revenue from being able to do so.
Accel led the company’s $8.5 million seed round, which included participation from Infinity Ventures, BoxGroup, The Fintech Fund, Tech Square Ventures, and Ardent Venture Partners.
It’s always cool to see startups outside the coasts growing, and Silver’s confidence that what Rainforest is building will make it a formidable player in the space feels like it has merit. Founded in 2022, the startup has seen impressive growth in a short period of time, securing client commitments representing more than $500 million in processing, with much of the volume guaranteed.
Silver believes the company’s exclusive focus on software companies only gives it an edge.
“None of the modern processors were built specifically for software platforms.
|
5642
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
In his view, most software companies don’t actually want to be fintechs and deal with all the regulatory and compliance issues that go with that. They really just want to be able to accept payments and generate more revenue from being able to do so.
Accel led the company’s $8.5 million seed round, which included participation from Infinity Ventures, BoxGroup, The Fintech Fund, Tech Square Ventures, and Ardent Venture Partners.
It’s always cool to see startups outside the coasts growing, and Silver’s confidence that what Rainforest is building will make it a formidable player in the space feels like it has merit. Founded in 2022, the startup has seen impressive growth in a short period of time, securing client commitments representing more than $500 million in processing, with much of the volume guaranteed.
Silver believes the company’s exclusive focus on software companies only gives it an edge.
“None of the modern processors were built specifically for software platforms. Most of them were built directly for merchants, and they’ve all had to retrofit their platforms even to accommodate basic payment processing and reporting functions for software companies,” he told TechCrunch.
|
5643
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Accel led the company’s $8.5 million seed round, which included participation from Infinity Ventures, BoxGroup, The Fintech Fund, Tech Square Ventures, and Ardent Venture Partners.
It’s always cool to see startups outside the coasts growing, and Silver’s confidence that what Rainforest is building will make it a formidable player in the space feels like it has merit. Founded in 2022, the startup has seen impressive growth in a short period of time, securing client commitments representing more than $500 million in processing, with much of the volume guaranteed.
Silver believes the company’s exclusive focus on software companies only gives it an edge.
“None of the modern processors were built specifically for software platforms. Most of them were built directly for merchants, and they’ve all had to retrofit their platforms even to accommodate basic payment processing and reporting functions for software companies,” he told TechCrunch.
As such, the startup is capturing volume as software platforms migrate from legacy processors such as Fiserv and FIS.
|
5644
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
It’s always cool to see startups outside the coasts growing, and Silver’s confidence that what Rainforest is building will make it a formidable player in the space feels like it has merit. Founded in 2022, the startup has seen impressive growth in a short period of time, securing client commitments representing more than $500 million in processing, with much of the volume guaranteed.
Silver believes the company’s exclusive focus on software companies only gives it an edge.
“None of the modern processors were built specifically for software platforms. Most of them were built directly for merchants, and they’ve all had to retrofit their platforms even to accommodate basic payment processing and reporting functions for software companies,” he told TechCrunch.
As such, the startup is capturing volume as software platforms migrate from legacy processors such as Fiserv and FIS. As that happens, it competes against companies like Stripe (and its Connect product) to embed financial services and payments.
|
5645
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
It’s always cool to see startups outside the coasts growing, and Silver’s confidence that what Rainforest is building will make it a formidable player in the space feels like it has merit. Founded in 2022, the startup has seen impressive growth in a short period of time, securing client commitments representing more than $500 million in processing, with much of the volume guaranteed.
Silver believes the company’s exclusive focus on software companies only gives it an edge.
“None of the modern processors were built specifically for software platforms. Most of them were built directly for merchants, and they’ve all had to retrofit their platforms even to accommodate basic payment processing and reporting functions for software companies,” he told TechCrunch.
As such, the startup is capturing volume as software platforms migrate from legacy processors such as Fiserv and FIS. As that happens, it competes against companies like Stripe (and its Connect product) to embed financial services and payments.
Nik Milanović of The Fintech Fund posted on X that he believes that one of the biggest stories of the next decade will be about Stripe, “which looks invincible from the outside, losing market share to nimble competitors.”
He added: “I think Rainforest is going to be a big part of that story.”
Meanwhile, Infinity Ventures’ Jeremy Jonker and former PayPal exec said he’s been in payments for 13 years and has “never before seen anything like Rainforest.” He told me via email that “Joshua’s background as a software platform founder and then as a payments consultant is a big part of the secret sauce.
|
5646
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
As such, the startup is capturing volume as software platforms migrate from legacy processors such as Fiserv and FIS. As that happens, it competes against companies like Stripe (and its Connect product) to embed financial services and payments.
Nik Milanović of The Fintech Fund posted on X that he believes that one of the biggest stories of the next decade will be about Stripe, “which looks invincible from the outside, losing market share to nimble competitors.”
He added: “I think Rainforest is going to be a big part of that story.”
Meanwhile, Infinity Ventures’ Jeremy Jonker and former PayPal exec said he’s been in payments for 13 years and has “never before seen anything like Rainforest.” He told me via email that “Joshua’s background as a software platform founder and then as a payments consultant is a big part of the secret sauce. He’s lived the pain of payments himself, and you can’t underestimate the power of being in your clients’ shoes.
|
5647
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
As that happens, it competes against companies like Stripe (and its Connect product) to embed financial services and payments.
Nik Milanović of The Fintech Fund posted on X that he believes that one of the biggest stories of the next decade will be about Stripe, “which looks invincible from the outside, losing market share to nimble competitors.”
He added: “I think Rainforest is going to be a big part of that story.”
Meanwhile, Infinity Ventures’ Jeremy Jonker and former PayPal exec said he’s been in payments for 13 years and has “never before seen anything like Rainforest.” He told me via email that “Joshua’s background as a software platform founder and then as a payments consultant is a big part of the secret sauce. He’s lived the pain of payments himself, and you can’t underestimate the power of being in your clients’ shoes. He knew that taking on risk and compliance burdens, and offering features like data portability, would be hugely attractive to platforms.
|
5648
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Nik Milanović of The Fintech Fund posted on X that he believes that one of the biggest stories of the next decade will be about Stripe, “which looks invincible from the outside, losing market share to nimble competitors.”
He added: “I think Rainforest is going to be a big part of that story.”
Meanwhile, Infinity Ventures’ Jeremy Jonker and former PayPal exec said he’s been in payments for 13 years and has “never before seen anything like Rainforest.” He told me via email that “Joshua’s background as a software platform founder and then as a payments consultant is a big part of the secret sauce. He’s lived the pain of payments himself, and you can’t underestimate the power of being in your clients’ shoes. He knew that taking on risk and compliance burdens, and offering features like data portability, would be hugely attractive to platforms. We also like that it’s not just him who has a wealth of payments experience — it’s the entire team he’s recruited to the company.
|
5649
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
He’s lived the pain of payments himself, and you can’t underestimate the power of being in your clients’ shoes. He knew that taking on risk and compliance burdens, and offering features like data portability, would be hugely attractive to platforms. We also like that it’s not just him who has a wealth of payments experience — it’s the entire team he’s recruited to the company. Many are longtime payments and SaaS vets who knew there was so much potential for a better provider, and now they’ve built it themselves.”
Listen to TC+ editor Alex Wilhelm and I talk more about how there’s plenty of market share to go around in Friday’s episode of the Equity podcast below.
|
5650
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
He’s lived the pain of payments himself, and you can’t underestimate the power of being in your clients’ shoes. He knew that taking on risk and compliance burdens, and offering features like data portability, would be hugely attractive to platforms. We also like that it’s not just him who has a wealth of payments experience — it’s the entire team he’s recruited to the company. Many are longtime payments and SaaS vets who knew there was so much potential for a better provider, and now they’ve built it themselves.”
Listen to TC+ editor Alex Wilhelm and I talk more about how there’s plenty of market share to go around in Friday’s episode of the Equity podcast below. — Mary Ann
PayPal is being sued for alleged “Draconian” payment policies
On October 5, Mary Ann broke the news that PayPal has been hit with a class action lawsuit by consumers represented by law firm Hagens Berman alleging that the fintech giant’s anti-steering rules stifle competition against lower-cost payment platforms such as Stripe and Shopify.
|
5651
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
He knew that taking on risk and compliance burdens, and offering features like data portability, would be hugely attractive to platforms. We also like that it’s not just him who has a wealth of payments experience — it’s the entire team he’s recruited to the company. Many are longtime payments and SaaS vets who knew there was so much potential for a better provider, and now they’ve built it themselves.”
Listen to TC+ editor Alex Wilhelm and I talk more about how there’s plenty of market share to go around in Friday’s episode of the Equity podcast below. — Mary Ann
PayPal is being sued for alleged “Draconian” payment policies
On October 5, Mary Ann broke the news that PayPal has been hit with a class action lawsuit by consumers represented by law firm Hagens Berman alleging that the fintech giant’s anti-steering rules stifle competition against lower-cost payment platforms such as Stripe and Shopify. Specifically, according to an investigation conducted by the firm’s consumer rights attorneys, PayPal has subjected consumers to excess charges when purchasing from online merchants that accept PayPal or Venmo.
|
5652
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Many are longtime payments and SaaS vets who knew there was so much potential for a better provider, and now they’ve built it themselves.”
Listen to TC+ editor Alex Wilhelm and I talk more about how there’s plenty of market share to go around in Friday’s episode of the Equity podcast below. — Mary Ann
PayPal is being sued for alleged “Draconian” payment policies
On October 5, Mary Ann broke the news that PayPal has been hit with a class action lawsuit by consumers represented by law firm Hagens Berman alleging that the fintech giant’s anti-steering rules stifle competition against lower-cost payment platforms such as Stripe and Shopify. Specifically, according to an investigation conducted by the firm’s consumer rights attorneys, PayPal has subjected consumers to excess charges when purchasing from online merchants that accept PayPal or Venmo.
Someone commented on social media that they didn’t see the problem with what PayPal is doing and questioned whether or not Visa and Mastercard do the same thing.
|
5653
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
— Mary Ann
PayPal is being sued for alleged “Draconian” payment policies
On October 5, Mary Ann broke the news that PayPal has been hit with a class action lawsuit by consumers represented by law firm Hagens Berman alleging that the fintech giant’s anti-steering rules stifle competition against lower-cost payment platforms such as Stripe and Shopify. Specifically, according to an investigation conducted by the firm’s consumer rights attorneys, PayPal has subjected consumers to excess charges when purchasing from online merchants that accept PayPal or Venmo.
Someone commented on social media that they didn’t see the problem with what PayPal is doing and questioned whether or not Visa and Mastercard do the same thing. So I went back to the attorneys who filed the lawsuit, who noted that the “anti-steering rules” are not the first of their kind.
|
5654
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
— Mary Ann
PayPal is being sued for alleged “Draconian” payment policies
On October 5, Mary Ann broke the news that PayPal has been hit with a class action lawsuit by consumers represented by law firm Hagens Berman alleging that the fintech giant’s anti-steering rules stifle competition against lower-cost payment platforms such as Stripe and Shopify. Specifically, according to an investigation conducted by the firm’s consumer rights attorneys, PayPal has subjected consumers to excess charges when purchasing from online merchants that accept PayPal or Venmo.
Someone commented on social media that they didn’t see the problem with what PayPal is doing and questioned whether or not Visa and Mastercard do the same thing. So I went back to the attorneys who filed the lawsuit, who noted that the “anti-steering rules” are not the first of their kind. They said: “Visa and MasterCard once imposed similar anti-steering rules on merchants accepting their cards but, after the Justice Department sued the networks for antitrust violations, they agreed in 2010 to eliminate their anti-steering rules as part of the settlement.
|
5655
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Specifically, according to an investigation conducted by the firm’s consumer rights attorneys, PayPal has subjected consumers to excess charges when purchasing from online merchants that accept PayPal or Venmo.
Someone commented on social media that they didn’t see the problem with what PayPal is doing and questioned whether or not Visa and Mastercard do the same thing. So I went back to the attorneys who filed the lawsuit, who noted that the “anti-steering rules” are not the first of their kind. They said: “Visa and MasterCard once imposed similar anti-steering rules on merchants accepting their cards but, after the Justice Department sued the networks for antitrust violations, they agreed in 2010 to eliminate their anti-steering rules as part of the settlement. With payments transitioning into the digital realm, PayPal has simply ripped a page right from the Visa and MasterCard [sic] playbook.”
Meanwhile, Patrick McGahan, a partner at Scott+Scott who focuses on antitrust litigation, had an interesting take that actually involves both of those card giants.
|
5656
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Someone commented on social media that they didn’t see the problem with what PayPal is doing and questioned whether or not Visa and Mastercard do the same thing. So I went back to the attorneys who filed the lawsuit, who noted that the “anti-steering rules” are not the first of their kind. They said: “Visa and MasterCard once imposed similar anti-steering rules on merchants accepting their cards but, after the Justice Department sued the networks for antitrust violations, they agreed in 2010 to eliminate their anti-steering rules as part of the settlement. With payments transitioning into the digital realm, PayPal has simply ripped a page right from the Visa and MasterCard [sic] playbook.”
Meanwhile, Patrick McGahan, a partner at Scott+Scott who focuses on antitrust litigation, had an interesting take that actually involves both of those card giants. He told TechCrunch that the case illustrates that “the tensions between merchants and the payment system providers are not over, and that litigation regarding this key cost faced by merchants is likely to continue for some time.”
He added: “Platform companies that operate as gatekeepers in their market, such as PayPal, will continue to be the subject of antitrust litigation as a result of the significant fees they charge.
|
5657
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
They said: “Visa and MasterCard once imposed similar anti-steering rules on merchants accepting their cards but, after the Justice Department sued the networks for antitrust violations, they agreed in 2010 to eliminate their anti-steering rules as part of the settlement. With payments transitioning into the digital realm, PayPal has simply ripped a page right from the Visa and MasterCard [sic] playbook.”
Meanwhile, Patrick McGahan, a partner at Scott+Scott who focuses on antitrust litigation, had an interesting take that actually involves both of those card giants. He told TechCrunch that the case illustrates that “the tensions between merchants and the payment system providers are not over, and that litigation regarding this key cost faced by merchants is likely to continue for some time.”
He added: “Platform companies that operate as gatekeepers in their market, such as PayPal, will continue to be the subject of antitrust litigation as a result of the significant fees they charge. PayPal’s fees are, however, driven by the costs imposed upon them by the dominant card schemes, Visa, Mastercard and American Express.
|
5658
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
With payments transitioning into the digital realm, PayPal has simply ripped a page right from the Visa and MasterCard [sic] playbook.”
Meanwhile, Patrick McGahan, a partner at Scott+Scott who focuses on antitrust litigation, had an interesting take that actually involves both of those card giants. He told TechCrunch that the case illustrates that “the tensions between merchants and the payment system providers are not over, and that litigation regarding this key cost faced by merchants is likely to continue for some time.”
He added: “Platform companies that operate as gatekeepers in their market, such as PayPal, will continue to be the subject of antitrust litigation as a result of the significant fees they charge. PayPal’s fees are, however, driven by the costs imposed upon them by the dominant card schemes, Visa, Mastercard and American Express. So, we can expect PayPal will respond to this suit by arguing that it is as much of a price taker as the merchants themselves, and that the terms imposed upon it by the card schemes drive some of its anti-steering rules.”
PayPal did not respond to requests for comment.
|
5659
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
He told TechCrunch that the case illustrates that “the tensions between merchants and the payment system providers are not over, and that litigation regarding this key cost faced by merchants is likely to continue for some time.”
He added: “Platform companies that operate as gatekeepers in their market, such as PayPal, will continue to be the subject of antitrust litigation as a result of the significant fees they charge. PayPal’s fees are, however, driven by the costs imposed upon them by the dominant card schemes, Visa, Mastercard and American Express. So, we can expect PayPal will respond to this suit by arguing that it is as much of a price taker as the merchants themselves, and that the terms imposed upon it by the card schemes drive some of its anti-steering rules.”
PayPal did not respond to requests for comment. — Mary Ann
Bolt CEO gets frank about SEC probe
Bolt Financial CEO Maju Kuruvilla told me in an interview that the one-click checkout company is putting a recent U.S.
|
5660
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
PayPal’s fees are, however, driven by the costs imposed upon them by the dominant card schemes, Visa, Mastercard and American Express. So, we can expect PayPal will respond to this suit by arguing that it is as much of a price taker as the merchants themselves, and that the terms imposed upon it by the card schemes drive some of its anti-steering rules.”
PayPal did not respond to requests for comment. — Mary Ann
Bolt CEO gets frank about SEC probe
Bolt Financial CEO Maju Kuruvilla told me in an interview that the one-click checkout company is putting a recent U.S. Securities and Exchange Commission probe behind it and is moving on.
“It obviously is a very, very involved process, but we’re really happy to put that behind us,” Kuruvilla told TechCrunch.
|
5661
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
PayPal’s fees are, however, driven by the costs imposed upon them by the dominant card schemes, Visa, Mastercard and American Express. So, we can expect PayPal will respond to this suit by arguing that it is as much of a price taker as the merchants themselves, and that the terms imposed upon it by the card schemes drive some of its anti-steering rules.”
PayPal did not respond to requests for comment. — Mary Ann
Bolt CEO gets frank about SEC probe
Bolt Financial CEO Maju Kuruvilla told me in an interview that the one-click checkout company is putting a recent U.S. Securities and Exchange Commission probe behind it and is moving on.
“It obviously is a very, very involved process, but we’re really happy to put that behind us,” Kuruvilla told TechCrunch. “We look forward to focusing on the momentum for the business and how we can help the retailers, especially the big retailers who are looking to us to innovate for them, because this is a tough year for retailers.”
You might remember that Bolt, which provides checkout technology to merchants, and its co-founder Ryan Breslow, were subpoenaed last year by the SEC to investigate whether the company violated any securities laws during fundraising in 2021 when Bolt was seeking its $355 million Series E round that valued the company at $11 billion.
|
5662
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
— Mary Ann
Bolt CEO gets frank about SEC probe
Bolt Financial CEO Maju Kuruvilla told me in an interview that the one-click checkout company is putting a recent U.S. Securities and Exchange Commission probe behind it and is moving on.
“It obviously is a very, very involved process, but we’re really happy to put that behind us,” Kuruvilla told TechCrunch. “We look forward to focusing on the momentum for the business and how we can help the retailers, especially the big retailers who are looking to us to innovate for them, because this is a tough year for retailers.”
You might remember that Bolt, which provides checkout technology to merchants, and its co-founder Ryan Breslow, were subpoenaed last year by the SEC to investigate whether the company violated any securities laws during fundraising in 2021 when Bolt was seeking its $355 million Series E round that valued the company at $11 billion.
The investigation took about 15 months, but news of that probe didn’t go public until July of 2023.
|
5663
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Securities and Exchange Commission probe behind it and is moving on.
“It obviously is a very, very involved process, but we’re really happy to put that behind us,” Kuruvilla told TechCrunch. “We look forward to focusing on the momentum for the business and how we can help the retailers, especially the big retailers who are looking to us to innovate for them, because this is a tough year for retailers.”
You might remember that Bolt, which provides checkout technology to merchants, and its co-founder Ryan Breslow, were subpoenaed last year by the SEC to investigate whether the company violated any securities laws during fundraising in 2021 when Bolt was seeking its $355 million Series E round that valued the company at $11 billion.
The investigation took about 15 months, but news of that probe didn’t go public until July of 2023. Shortly thereafter on August 23, the SEC said, in a letter viewed by TechCrunch, it was not recommending an enforcement action for the company.
|
5664
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
“It obviously is a very, very involved process, but we’re really happy to put that behind us,” Kuruvilla told TechCrunch. “We look forward to focusing on the momentum for the business and how we can help the retailers, especially the big retailers who are looking to us to innovate for them, because this is a tough year for retailers.”
You might remember that Bolt, which provides checkout technology to merchants, and its co-founder Ryan Breslow, were subpoenaed last year by the SEC to investigate whether the company violated any securities laws during fundraising in 2021 when Bolt was seeking its $355 million Series E round that valued the company at $11 billion.
The investigation took about 15 months, but news of that probe didn’t go public until July of 2023. Shortly thereafter on August 23, the SEC said, in a letter viewed by TechCrunch, it was not recommending an enforcement action for the company.
Kuruvilla spoke with me about how, exactly, the company can put something like this behind it, what it told customers and what’s next.
|
5665
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
“We look forward to focusing on the momentum for the business and how we can help the retailers, especially the big retailers who are looking to us to innovate for them, because this is a tough year for retailers.”
You might remember that Bolt, which provides checkout technology to merchants, and its co-founder Ryan Breslow, were subpoenaed last year by the SEC to investigate whether the company violated any securities laws during fundraising in 2021 when Bolt was seeking its $355 million Series E round that valued the company at $11 billion.
The investigation took about 15 months, but news of that probe didn’t go public until July of 2023. Shortly thereafter on August 23, the SEC said, in a letter viewed by TechCrunch, it was not recommending an enforcement action for the company.
Kuruvilla spoke with me about how, exactly, the company can put something like this behind it, what it told customers and what’s next. Read more.
|
5666
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
“We look forward to focusing on the momentum for the business and how we can help the retailers, especially the big retailers who are looking to us to innovate for them, because this is a tough year for retailers.”
You might remember that Bolt, which provides checkout technology to merchants, and its co-founder Ryan Breslow, were subpoenaed last year by the SEC to investigate whether the company violated any securities laws during fundraising in 2021 when Bolt was seeking its $355 million Series E round that valued the company at $11 billion.
The investigation took about 15 months, but news of that probe didn’t go public until July of 2023. Shortly thereafter on August 23, the SEC said, in a letter viewed by TechCrunch, it was not recommending an enforcement action for the company.
Kuruvilla spoke with me about how, exactly, the company can put something like this behind it, what it told customers and what’s next. Read more. — Christine
Weekly News
Banking-as-a-service startup Synapse confirmed Friday that it laid off 86 people, or about 40% of the company.
|
5667
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
The investigation took about 15 months, but news of that probe didn’t go public until July of 2023. Shortly thereafter on August 23, the SEC said, in a letter viewed by TechCrunch, it was not recommending an enforcement action for the company.
Kuruvilla spoke with me about how, exactly, the company can put something like this behind it, what it told customers and what’s next. Read more. — Christine
Weekly News
Banking-as-a-service startup Synapse confirmed Friday that it laid off 86 people, or about 40% of the company. The San Francisco–based company, which operates a platform enabling banks and fintech companies to easily develop financial services, has been open about past layoffs. In June, CEO Sankaet Pathak wrote in a blog post that the company had let go of 18% of its workforce as “the current macroeconomic conditions” had begun to impact its clients and platforms, affecting its anticipated growth. More here.
|
5668
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Shortly thereafter on August 23, the SEC said, in a letter viewed by TechCrunch, it was not recommending an enforcement action for the company.
Kuruvilla spoke with me about how, exactly, the company can put something like this behind it, what it told customers and what’s next. Read more. — Christine
Weekly News
Banking-as-a-service startup Synapse confirmed Friday that it laid off 86 people, or about 40% of the company. The San Francisco–based company, which operates a platform enabling banks and fintech companies to easily develop financial services, has been open about past layoffs. In June, CEO Sankaet Pathak wrote in a blog post that the company had let go of 18% of its workforce as “the current macroeconomic conditions” had begun to impact its clients and platforms, affecting its anticipated growth. More here.
Visa plans to invest $100 million in companies developing generative AI technologies and applications “that will impact the future of commerce and payments,” Mary Ann reports.
|
5669
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Kuruvilla spoke with me about how, exactly, the company can put something like this behind it, what it told customers and what’s next. Read more. — Christine
Weekly News
Banking-as-a-service startup Synapse confirmed Friday that it laid off 86 people, or about 40% of the company. The San Francisco–based company, which operates a platform enabling banks and fintech companies to easily develop financial services, has been open about past layoffs. In June, CEO Sankaet Pathak wrote in a blog post that the company had let go of 18% of its workforce as “the current macroeconomic conditions” had begun to impact its clients and platforms, affecting its anticipated growth. More here.
Visa plans to invest $100 million in companies developing generative AI technologies and applications “that will impact the future of commerce and payments,” Mary Ann reports. Visa Ventures head David Roff told TechCrunch that the fintech giant has “a lot of flexibility” with regards to how many investments it would make out of the new fund, and average check size.
|
5670
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Read more. — Christine
Weekly News
Banking-as-a-service startup Synapse confirmed Friday that it laid off 86 people, or about 40% of the company. The San Francisco–based company, which operates a platform enabling banks and fintech companies to easily develop financial services, has been open about past layoffs. In June, CEO Sankaet Pathak wrote in a blog post that the company had let go of 18% of its workforce as “the current macroeconomic conditions” had begun to impact its clients and platforms, affecting its anticipated growth. More here.
Visa plans to invest $100 million in companies developing generative AI technologies and applications “that will impact the future of commerce and payments,” Mary Ann reports. Visa Ventures head David Roff told TechCrunch that the fintech giant has “a lot of flexibility” with regards to how many investments it would make out of the new fund, and average check size. More here.
|
5671
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
— Christine
Weekly News
Banking-as-a-service startup Synapse confirmed Friday that it laid off 86 people, or about 40% of the company. The San Francisco–based company, which operates a platform enabling banks and fintech companies to easily develop financial services, has been open about past layoffs. In June, CEO Sankaet Pathak wrote in a blog post that the company had let go of 18% of its workforce as “the current macroeconomic conditions” had begun to impact its clients and platforms, affecting its anticipated growth. More here.
Visa plans to invest $100 million in companies developing generative AI technologies and applications “that will impact the future of commerce and payments,” Mary Ann reports. Visa Ventures head David Roff told TechCrunch that the fintech giant has “a lot of flexibility” with regards to how many investments it would make out of the new fund, and average check size. More here.
As reported by Manish Singh, “Indian unicorn fintech Slice is merging with North East Small Finance Bank after receiving the approval from the central bank, in an extremely rare feat that has eluded many tech giants, top financial startups and tycoons for decades.
|
5672
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
In June, CEO Sankaet Pathak wrote in a blog post that the company had let go of 18% of its workforce as “the current macroeconomic conditions” had begun to impact its clients and platforms, affecting its anticipated growth. More here.
Visa plans to invest $100 million in companies developing generative AI technologies and applications “that will impact the future of commerce and payments,” Mary Ann reports. Visa Ventures head David Roff told TechCrunch that the fintech giant has “a lot of flexibility” with regards to how many investments it would make out of the new fund, and average check size. More here.
As reported by Manish Singh, “Indian unicorn fintech Slice is merging with North East Small Finance Bank after receiving the approval from the central bank, in an extremely rare feat that has eluded many tech giants, top financial startups and tycoons for decades. Slice — which earlier offered credit card–like cards and at peak issued over 400,000 cards in a month, more than any other fintech or bank — said the merger with the Guwahati-headquartered bank will allow the combined entity to better serve their shared mission and reach more consumers who currently lack access to basic banking services.” More here.
|
5673
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Visa Ventures head David Roff told TechCrunch that the fintech giant has “a lot of flexibility” with regards to how many investments it would make out of the new fund, and average check size. More here.
As reported by Manish Singh, “Indian unicorn fintech Slice is merging with North East Small Finance Bank after receiving the approval from the central bank, in an extremely rare feat that has eluded many tech giants, top financial startups and tycoons for decades. Slice — which earlier offered credit card–like cards and at peak issued over 400,000 cards in a month, more than any other fintech or bank — said the merger with the Guwahati-headquartered bank will allow the combined entity to better serve their shared mission and reach more consumers who currently lack access to basic banking services.” More here.
“CRED grew its operating revenue by a staggering 255% to $168.1 million in the financial year ending March as the fintech startup, which garners an unusually high level of attention, finds rising adoption of its lending and commerce offerings among India’s affluent individuals.
|
5674
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
More here.
As reported by Manish Singh, “Indian unicorn fintech Slice is merging with North East Small Finance Bank after receiving the approval from the central bank, in an extremely rare feat that has eluded many tech giants, top financial startups and tycoons for decades. Slice — which earlier offered credit card–like cards and at peak issued over 400,000 cards in a month, more than any other fintech or bank — said the merger with the Guwahati-headquartered bank will allow the combined entity to better serve their shared mission and reach more consumers who currently lack access to basic banking services.” More here.
“CRED grew its operating revenue by a staggering 255% to $168.1 million in the financial year ending March as the fintech startup, which garners an unusually high level of attention, finds rising adoption of its lending and commerce offerings among India’s affluent individuals. The Bengaluru-headquartered startup had a total income of about $50 million in the financial year ending March last year and $11.4 million in the prior year.
|
5675
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Slice — which earlier offered credit card–like cards and at peak issued over 400,000 cards in a month, more than any other fintech or bank — said the merger with the Guwahati-headquartered bank will allow the combined entity to better serve their shared mission and reach more consumers who currently lack access to basic banking services.” More here.
“CRED grew its operating revenue by a staggering 255% to $168.1 million in the financial year ending March as the fintech startup, which garners an unusually high level of attention, finds rising adoption of its lending and commerce offerings among India’s affluent individuals. The Bengaluru-headquartered startup had a total income of about $50 million in the financial year ending March last year and $11.4 million in the prior year. More here from Manish Singh.
|
5676
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Slice — which earlier offered credit card–like cards and at peak issued over 400,000 cards in a month, more than any other fintech or bank — said the merger with the Guwahati-headquartered bank will allow the combined entity to better serve their shared mission and reach more consumers who currently lack access to basic banking services.” More here.
“CRED grew its operating revenue by a staggering 255% to $168.1 million in the financial year ending March as the fintech startup, which garners an unusually high level of attention, finds rising adoption of its lending and commerce offerings among India’s affluent individuals. The Bengaluru-headquartered startup had a total income of about $50 million in the financial year ending March last year and $11.4 million in the prior year. More here from Manish Singh.
Brex co-CEO and co-founder Henrique Dubugras chose the very picturesque island Fernando de Noronha in northeastern Brazil to be the location of four days of festivities around his marriage to software engineer Laura Fiuza, Brazilian publication Globo reported last week.
|
5677
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
“CRED grew its operating revenue by a staggering 255% to $168.1 million in the financial year ending March as the fintech startup, which garners an unusually high level of attention, finds rising adoption of its lending and commerce offerings among India’s affluent individuals. The Bengaluru-headquartered startup had a total income of about $50 million in the financial year ending March last year and $11.4 million in the prior year. More here from Manish Singh.
Brex co-CEO and co-founder Henrique Dubugras chose the very picturesque island Fernando de Noronha in northeastern Brazil to be the location of four days of festivities around his marriage to software engineer Laura Fiuza, Brazilian publication Globo reported last week. Some 400 guests are reportedly attending the wedding, which led to the closing of the Forte dos Remédios — one of the island’s main tourist attractions — for more than a week, according to Globo. Parabéns, Henrique and Laura!
|
5678
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
The Bengaluru-headquartered startup had a total income of about $50 million in the financial year ending March last year and $11.4 million in the prior year. More here from Manish Singh.
Brex co-CEO and co-founder Henrique Dubugras chose the very picturesque island Fernando de Noronha in northeastern Brazil to be the location of four days of festivities around his marriage to software engineer Laura Fiuza, Brazilian publication Globo reported last week. Some 400 guests are reportedly attending the wedding, which led to the closing of the Forte dos Remédios — one of the island’s main tourist attractions — for more than a week, according to Globo. Parabéns, Henrique and Laura!
Several fintech startups recently made LinkedIn’s top startups of 2023 list, including Ramp, No. 1; Synctera, No. 11; Esusu, No. 13; Sardine, No. 16; and Tapcheck, No.
|
5679
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
More here from Manish Singh.
Brex co-CEO and co-founder Henrique Dubugras chose the very picturesque island Fernando de Noronha in northeastern Brazil to be the location of four days of festivities around his marriage to software engineer Laura Fiuza, Brazilian publication Globo reported last week. Some 400 guests are reportedly attending the wedding, which led to the closing of the Forte dos Remédios — one of the island’s main tourist attractions — for more than a week, according to Globo. Parabéns, Henrique and Laura!
Several fintech startups recently made LinkedIn’s top startups of 2023 list, including Ramp, No. 1; Synctera, No. 11; Esusu, No. 13; Sardine, No. 16; and Tapcheck, No. 48.
CB Insights also released its Fintech 100 list, made up of the “most promising 100 fintech startups of 2023.
|
5680
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
Brex co-CEO and co-founder Henrique Dubugras chose the very picturesque island Fernando de Noronha in northeastern Brazil to be the location of four days of festivities around his marriage to software engineer Laura Fiuza, Brazilian publication Globo reported last week. Some 400 guests are reportedly attending the wedding, which led to the closing of the Forte dos Remédios — one of the island’s main tourist attractions — for more than a week, according to Globo. Parabéns, Henrique and Laura!
Several fintech startups recently made LinkedIn’s top startups of 2023 list, including Ramp, No. 1; Synctera, No. 11; Esusu, No. 13; Sardine, No. 16; and Tapcheck, No. 48.
CB Insights also released its Fintech 100 list, made up of the “most promising 100 fintech startups of 2023.”
Other items we are paying attention to:
The great Zelle pool scam
The Public platform offers everyday investors a slice of ‘Shrek’ catalog with quarterly payouts
Stockpile and Green Dot partner on debit cards for minors
Amex pilots biometrics in online checkout
Pie Insurance appoints Audra Foglietta as chief financial officer
Monzo picks Cash App vet Conor Walsh for US CEO
Folsom-based EV Life launches electric car loan to lower monthly payments
CLEAR launches reusable KYC solution
Funding and M&A
As seen in TechCrunch
Open banking led to a fintech boom — as Brite raises $60M,
|
5681
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
1; Synctera, No. 11; Esusu, No. 13; Sardine, No. 16; and Tapcheck, No. 48.
CB Insights also released its Fintech 100 list, made up of the “most promising 100 fintech startups of 2023.”
Other items we are paying attention to:
The great Zelle pool scam
The Public platform offers everyday investors a slice of ‘Shrek’ catalog with quarterly payouts
Stockpile and Green Dot partner on debit cards for minors
Amex pilots biometrics in online checkout
Pie Insurance appoints Audra Foglietta as chief financial officer
Monzo picks Cash App vet Conor Walsh for US CEO
Folsom-based EV Life launches electric car loan to lower monthly payments
CLEAR launches reusable KYC solution
Funding and M&A
As seen in TechCrunch
Open banking led to a fintech boom — as Brite raises $60M, account-to-account payment grows
Recapitalization,
|
5682
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
13; Sardine, No. 16; and Tapcheck, No. 48.
CB Insights also released its Fintech 100 list, made up of the “most promising 100 fintech startups of 2023.”
Other items we are paying attention to:
The great Zelle pool scam
The Public platform offers everyday investors a slice of ‘Shrek’ catalog with quarterly payouts
Stockpile and Green Dot partner on debit cards for minors
Amex pilots biometrics in online checkout
Pie Insurance appoints Audra Foglietta as chief financial officer
Monzo picks Cash App vet Conor Walsh for US CEO
Folsom-based EV Life launches electric car loan to lower monthly payments
CLEAR launches reusable KYC solution
Funding and M&A
As seen in TechCrunch
Open banking led to a fintech boom — as Brite raises $60M, account-to-account payment grows
Recapitalization, $60M Series D support growth of e-commerce financier Clearco
Stitch raises $25M Series A extension led by Ribbit Capital,
|
5683
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
made up of the “most promising 100 fintech startups of 2023.”
Other items we are paying attention to:
The great Zelle pool scam
The Public platform offers everyday investors a slice of ‘Shrek’ catalog with quarterly payouts
Stockpile and Green Dot partner on debit cards for minors
Amex pilots biometrics in online checkout
Pie Insurance appoints Audra Foglietta as chief financial officer
Monzo picks Cash App vet Conor Walsh for US CEO
Folsom-based EV Life launches electric car loan to lower monthly payments
CLEAR launches reusable KYC solution
Funding and M&A
As seen in TechCrunch
Open banking led to a fintech boom — as Brite raises $60M, account-to-account payment grows
Recapitalization, $60M Series D support growth of e-commerce financier Clearco
Stitch raises $25M Series A extension led by Ribbit Capital, increasing the round’s total to $46M
Resy and Eater co-founder raises $24M for Blackbird,
|
5684
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
”
Other items we are paying attention to:
The great Zelle pool scam
The Public platform offers everyday investors a slice of ‘Shrek’ catalog with quarterly payouts
Stockpile and Green Dot partner on debit cards for minors
Amex pilots biometrics in online checkout
Pie Insurance appoints Audra Foglietta as chief financial officer
Monzo picks Cash App vet Conor Walsh for US CEO
Folsom-based EV Life launches electric car loan to lower monthly payments
CLEAR launches reusable KYC solution
Funding and M&A
As seen in TechCrunch
Open banking led to a fintech boom — as Brite raises $60M, account-to-account payment grows
Recapitalization, $60M Series D support growth of e-commerce financier Clearco
Stitch raises $25M Series A extension led by Ribbit Capital, increasing the round’s total to $46M
Resy and Eater co-founder raises $24M for Blackbird, a restaurant loyalty platform
Sparx wants to do for enterprise what Truebill did for consumer recurring bills
Ten Key Labs wants to simplify managing equity for startups
Seen elsewhere
Logistics company Loop raises $35M to modernize the supply chain (Also,
|
5685
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
account-to-account payment grows
Recapitalization, $60M Series D support growth of e-commerce financier Clearco
Stitch raises $25M Series A extension led by Ribbit Capital, increasing the round’s total to $46M
Resy and Eater co-founder raises $24M for Blackbird, a restaurant loyalty platform
Sparx wants to do for enterprise what Truebill did for consumer recurring bills
Ten Key Labs wants to simplify managing equity for startups
Seen elsewhere
Logistics company Loop raises $35M to modernize the supply chain (Also, check out TechCrunch’s previous story on Loop.)
Shift4 acquires SpotOn unit for $100M (TechCrunch previously covered SpotOn here.)
Reserv raises $20M for AI-driven insurtech software
Vyzer raises $6.3M seed round for AI-powered wealth management platform
Kafene adds another $12.6M to its Series B round (TechCrunch previously covered Kafene here.)
|
5686
|
Here’s how Rainforest, a budding Stripe rival, aims to win over software companies
$60M Series D support growth of e-commerce financier Clearco
Stitch raises $25M Series A extension led by Ribbit Capital, increasing the round’s total to $46M
Resy and Eater co-founder raises $24M for Blackbird, a restaurant loyalty platform
Sparx wants to do for enterprise what Truebill did for consumer recurring bills
Ten Key Labs wants to simplify managing equity for startups
Seen elsewhere
Logistics company Loop raises $35M to modernize the supply chain (Also, check out TechCrunch’s previous story on Loop.)
Shift4 acquires SpotOn unit for $100M (TechCrunch previously covered SpotOn here.)
Reserv raises $20M for AI-driven insurtech software
Vyzer raises $6.3M seed round for AI-powered wealth management platform
Kafene adds another $12.6M to its Series B round (TechCrunch previously covered Kafene here.)
Fintech firm Revio boosts community bank growth with $2.5M funding
SkyWatch acquires Droneinsurance.com
AP Automation Fintech Stampli announces $61M round led by Blackstone
|
5687
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
In the runup to the 2020 election, a small news organization saw an opportunity.
The Epoch Times directed millions of dollars in advertising toward supporting President Donald Trump’s campaign and published dozens of articles parroting his lies about the election — resulting in huge growth to its audience and its coffers.
The strategy garnered criticism from fact-checking groups and got it banned from advertising on Facebook, but it ultimately paid off — putting the once-fringe newspaper on a path that perhaps only its leader, who claims to have supernatural powers, could have foreseen.
Today, The Epoch Times is one of the country’s most successful and influential conservative news organizations. It’s powered by Falun Gong, a religious group persecuted in China, which launched The Epoch Times as a free propaganda newsletter more than two decades ago to oppose the Chinese Communist Party.
Funded through aggressive online and real-world marketing campaigns and big-money conservative donors, The Epoch Times now boasts to be the country’s fourth-largest newspaper by subscriber count.
|
5688
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
The Epoch Times directed millions of dollars in advertising toward supporting President Donald Trump’s campaign and published dozens of articles parroting his lies about the election — resulting in huge growth to its audience and its coffers.
The strategy garnered criticism from fact-checking groups and got it banned from advertising on Facebook, but it ultimately paid off — putting the once-fringe newspaper on a path that perhaps only its leader, who claims to have supernatural powers, could have foreseen.
Today, The Epoch Times is one of the country’s most successful and influential conservative news organizations. It’s powered by Falun Gong, a religious group persecuted in China, which launched The Epoch Times as a free propaganda newsletter more than two decades ago to oppose the Chinese Communist Party.
Funded through aggressive online and real-world marketing campaigns and big-money conservative donors, The Epoch Times now boasts to be the country’s fourth-largest newspaper by subscriber count. (Unlike most major newspapers, The Epoch Times isn't audited by the two major independent collectors of circulation data.)
|
5689
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
The strategy garnered criticism from fact-checking groups and got it banned from advertising on Facebook, but it ultimately paid off — putting the once-fringe newspaper on a path that perhaps only its leader, who claims to have supernatural powers, could have foreseen.
Today, The Epoch Times is one of the country’s most successful and influential conservative news organizations. It’s powered by Falun Gong, a religious group persecuted in China, which launched The Epoch Times as a free propaganda newsletter more than two decades ago to oppose the Chinese Communist Party.
Funded through aggressive online and real-world marketing campaigns and big-money conservative donors, The Epoch Times now boasts to be the country’s fourth-largest newspaper by subscriber count. (Unlike most major newspapers, The Epoch Times isn't audited by the two major independent collectors of circulation data.) The nonprofit has amassed a fortune, growing its revenue by a staggering 685% in two years, to $122 million in 2021, according to the group’s most recent tax records.
|
5690
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
Today, The Epoch Times is one of the country’s most successful and influential conservative news organizations. It’s powered by Falun Gong, a religious group persecuted in China, which launched The Epoch Times as a free propaganda newsletter more than two decades ago to oppose the Chinese Communist Party.
Funded through aggressive online and real-world marketing campaigns and big-money conservative donors, The Epoch Times now boasts to be the country’s fourth-largest newspaper by subscriber count. (Unlike most major newspapers, The Epoch Times isn't audited by the two major independent collectors of circulation data.) The nonprofit has amassed a fortune, growing its revenue by a staggering 685% in two years, to $122 million in 2021, according to the group’s most recent tax records.
Its editorial vision — fueled by a right-wing slant and conspiracy theories — is on display in recent reports on how “Jan.
|
5691
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
Today, The Epoch Times is one of the country’s most successful and influential conservative news organizations. It’s powered by Falun Gong, a religious group persecuted in China, which launched The Epoch Times as a free propaganda newsletter more than two decades ago to oppose the Chinese Communist Party.
Funded through aggressive online and real-world marketing campaigns and big-money conservative donors, The Epoch Times now boasts to be the country’s fourth-largest newspaper by subscriber count. (Unlike most major newspapers, The Epoch Times isn't audited by the two major independent collectors of circulation data.) The nonprofit has amassed a fortune, growing its revenue by a staggering 685% in two years, to $122 million in 2021, according to the group’s most recent tax records.
Its editorial vision — fueled by a right-wing slant and conspiracy theories — is on display in recent reports on how “Jan. 6 Capitol Hill Security Footage Challenges Key Narratives” and “Meteorologists, Scientists Explain Why There Is ‘No Climate Emergency.’” Its video series include a documentary-style film alleging widespread vaccine injury and death and an exposé of an alleged world government agenda to harm farmers, cull the population and force survivors to eat bugs.
|
5692
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
Funded through aggressive online and real-world marketing campaigns and big-money conservative donors, The Epoch Times now boasts to be the country’s fourth-largest newspaper by subscriber count. (Unlike most major newspapers, The Epoch Times isn't audited by the two major independent collectors of circulation data.) The nonprofit has amassed a fortune, growing its revenue by a staggering 685% in two years, to $122 million in 2021, according to the group’s most recent tax records.
Its editorial vision — fueled by a right-wing slant and conspiracy theories — is on display in recent reports on how “Jan. 6 Capitol Hill Security Footage Challenges Key Narratives” and “Meteorologists, Scientists Explain Why There Is ‘No Climate Emergency.’” Its video series include a documentary-style film alleging widespread vaccine injury and death and an exposé of an alleged world government agenda to harm farmers, cull the population and force survivors to eat bugs.
What The Epoch Times lacks in standards, it makes up for in style and form, mirroring the aesthetics of journalism — a feature that’s attracted subscribers and big-name supporters.
|
5693
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
(Unlike most major newspapers, The Epoch Times isn't audited by the two major independent collectors of circulation data.) The nonprofit has amassed a fortune, growing its revenue by a staggering 685% in two years, to $122 million in 2021, according to the group’s most recent tax records.
Its editorial vision — fueled by a right-wing slant and conspiracy theories — is on display in recent reports on how “Jan. 6 Capitol Hill Security Footage Challenges Key Narratives” and “Meteorologists, Scientists Explain Why There Is ‘No Climate Emergency.’” Its video series include a documentary-style film alleging widespread vaccine injury and death and an exposé of an alleged world government agenda to harm farmers, cull the population and force survivors to eat bugs.
What The Epoch Times lacks in standards, it makes up for in style and form, mirroring the aesthetics of journalism — a feature that’s attracted subscribers and big-name supporters.
Anti-vaccine activist and presidential candidate Robert F. Kennedy Jr.
|
5694
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
The nonprofit has amassed a fortune, growing its revenue by a staggering 685% in two years, to $122 million in 2021, according to the group’s most recent tax records.
Its editorial vision — fueled by a right-wing slant and conspiracy theories — is on display in recent reports on how “Jan. 6 Capitol Hill Security Footage Challenges Key Narratives” and “Meteorologists, Scientists Explain Why There Is ‘No Climate Emergency.’” Its video series include a documentary-style film alleging widespread vaccine injury and death and an exposé of an alleged world government agenda to harm farmers, cull the population and force survivors to eat bugs.
What The Epoch Times lacks in standards, it makes up for in style and form, mirroring the aesthetics of journalism — a feature that’s attracted subscribers and big-name supporters.
Anti-vaccine activist and presidential candidate Robert F. Kennedy Jr. calls The Epoch Times a daily read, among his most trusted news sources.
|
5695
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
The nonprofit has amassed a fortune, growing its revenue by a staggering 685% in two years, to $122 million in 2021, according to the group’s most recent tax records.
Its editorial vision — fueled by a right-wing slant and conspiracy theories — is on display in recent reports on how “Jan. 6 Capitol Hill Security Footage Challenges Key Narratives” and “Meteorologists, Scientists Explain Why There Is ‘No Climate Emergency.’” Its video series include a documentary-style film alleging widespread vaccine injury and death and an exposé of an alleged world government agenda to harm farmers, cull the population and force survivors to eat bugs.
What The Epoch Times lacks in standards, it makes up for in style and form, mirroring the aesthetics of journalism — a feature that’s attracted subscribers and big-name supporters.
Anti-vaccine activist and presidential candidate Robert F. Kennedy Jr. calls The Epoch Times a daily read, among his most trusted news sources. “They have a real bias against China, but on other reporting, they’re very courageous and it’s real journalism,” Kennedy said in an interview with NBC News this summer.
|
5696
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
Its editorial vision — fueled by a right-wing slant and conspiracy theories — is on display in recent reports on how “Jan. 6 Capitol Hill Security Footage Challenges Key Narratives” and “Meteorologists, Scientists Explain Why There Is ‘No Climate Emergency.’” Its video series include a documentary-style film alleging widespread vaccine injury and death and an exposé of an alleged world government agenda to harm farmers, cull the population and force survivors to eat bugs.
What The Epoch Times lacks in standards, it makes up for in style and form, mirroring the aesthetics of journalism — a feature that’s attracted subscribers and big-name supporters.
Anti-vaccine activist and presidential candidate Robert F. Kennedy Jr. calls The Epoch Times a daily read, among his most trusted news sources. “They have a real bias against China, but on other reporting, they’re very courageous and it’s real journalism,” Kennedy said in an interview with NBC News this summer.
In July, Rep.
|
5697
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
Its editorial vision — fueled by a right-wing slant and conspiracy theories — is on display in recent reports on how “Jan. 6 Capitol Hill Security Footage Challenges Key Narratives” and “Meteorologists, Scientists Explain Why There Is ‘No Climate Emergency.’” Its video series include a documentary-style film alleging widespread vaccine injury and death and an exposé of an alleged world government agenda to harm farmers, cull the population and force survivors to eat bugs.
What The Epoch Times lacks in standards, it makes up for in style and form, mirroring the aesthetics of journalism — a feature that’s attracted subscribers and big-name supporters.
Anti-vaccine activist and presidential candidate Robert F. Kennedy Jr. calls The Epoch Times a daily read, among his most trusted news sources. “They have a real bias against China, but on other reporting, they’re very courageous and it’s real journalism,” Kennedy said in an interview with NBC News this summer.
In July, Rep. Ralph Norman, R-S.C., recited the history of The Epoch Times into the congressional record.
|
5698
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
6 Capitol Hill Security Footage Challenges Key Narratives” and “Meteorologists, Scientists Explain Why There Is ‘No Climate Emergency.’” Its video series include a documentary-style film alleging widespread vaccine injury and death and an exposé of an alleged world government agenda to harm farmers, cull the population and force survivors to eat bugs.
What The Epoch Times lacks in standards, it makes up for in style and form, mirroring the aesthetics of journalism — a feature that’s attracted subscribers and big-name supporters.
Anti-vaccine activist and presidential candidate Robert F. Kennedy Jr. calls The Epoch Times a daily read, among his most trusted news sources. “They have a real bias against China, but on other reporting, they’re very courageous and it’s real journalism,” Kennedy said in an interview with NBC News this summer.
In July, Rep. Ralph Norman, R-S.C., recited the history of The Epoch Times into the congressional record. “This is all about one word: freedom,” Norman said.
|
5699
|
How the conspiracy-fueled Epoch Times went mainstream and made millions
What The Epoch Times lacks in standards, it makes up for in style and form, mirroring the aesthetics of journalism — a feature that’s attracted subscribers and big-name supporters.
Anti-vaccine activist and presidential candidate Robert F. Kennedy Jr. calls The Epoch Times a daily read, among his most trusted news sources. “They have a real bias against China, but on other reporting, they’re very courageous and it’s real journalism,” Kennedy said in an interview with NBC News this summer.
In July, Rep. Ralph Norman, R-S.C., recited the history of The Epoch Times into the congressional record. “This is all about one word: freedom,” Norman said.
The Epoch Times has yet to throw its weight behind a candidate for 2024, but heading into the election cycle, it is moving into new and bigger office spaces and production studios in California, hiring mainstream news veterans who are not affiliated with Falun Gong, and revving up an ad-buying blitz.
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.