Nordstrom’s CEO Erik Nordstrom and President Pete Nordstrom have told the retailer’s board that they’re interested in taking the company private. As a result, the board has formed a special committee of independent and disinterested directors that will evaluate any proposals from those executives and from other parties, the company said in a Thursday (April 18) press release. The […]
Cryptocurrency exchange Kraken is buying TradeStation Crypto, the digital assets unit of TradeStation Group. With this acquisition, Kraken aims to expand its regulatory licensing in the United States, Seeking Alpha reported Thursday (April 18). “The transaction is part of our efforts to accelerate our U.S. presence and will unlock further growth and new product opportunities for Kraken in the U.S.,” […]
Google is consolidating the teams that focus on building artificial intelligence (AI) models across Google Research and Google DeepMind. All this work will now be done within Google DeepMind, Sundar Pichai, CEO of Google and Alphabet, said in a note to employees posted on the company’s website Thursday (April 18). Pichai said in the note that this move will “scale our […]
Canada’s federal budget, released this week, includes a proposal to limit the fees that banks charge customers for overdrawing their accounts. This move is expected to provide relief for low-income clients but could potentially impact the revenue of Canadian banks, Bloomberg reported Thursday (April 18). The proposed cap would be 10 Canadian dollars ($7) for non-sufficient funds […]
Sen. Mitt Romney’s call for enhanced federal oversight of artificial intelligence (AI) faces hurdles, according to experts, who say the technology’s rapid advancement and wide-ranging applications pose significant challenges to effective regulation. Many observers agree that AI can pose risks, but they also point out how hard it is to decide which AI systems need strict […]
The storyline is playing out nicely for Netflix. The streaming company reported its latest earnings on Thursday (April 18), with Wall Street keeping a close eye on expected revenue and subscriber growth resulting from its recent password-sharing crackdown. But no one expected the dramatic results it delivered: Netflix ended the first quarter with 269.6 million paying […]
Getir, the Turkish grocery delivery company that soared in value during the pandemic, is reportedly grappling with the need to cut costs and restructure as demand for its services wanes. Investors are pushing for significant changes within the company, including asset sales and market exits, Bloomberg reported Thursday (April 18), citing unnamed sources. Getir did not immediately […]
Meta has introduced the latest version of its artificial intelligence (AI) assistant, Meta AI, powered by the latest advances with its large language model (LLM), Meta Llama 3. The assistant is free and can be used on Facebook, Instagram, WhatsApp and Messenger, the company said in a Thursday (April 18) press release. It’s also now available on a website, meta.ai, for use on computers, according to the release. In addition, Meta […]
When is a loan not a loan? That is, in one sense, the question at the heart of proposed new federal legislation around earned wage access (EWA) that is coming on the heels of multiple states debating their own regulations in the absence of substantial federal rules around EWA products. EWA, also referred to as early, instant or on-demand […]
Wagestream, a financial well-being app focused on frontline workers, has raised 17.5 million pounds (about $21.8 million) in a funding round. That total includes an investment of 7 million pounds (about $8.7 million) by British Patient Capital alongside other co-investors, including Lombard Odier Investment Managers and existing investor Northzone, British Patient Capital said in a Wednesday […]
Shoppers can now order tires from third-party sellers on Walmart Marketplace and schedule an appointment to have those tires installed at a Walmart Auto Care Center at the same time. The tires will be shipped to the customer’s local Walmart store for installation, Michael Mosser, vice president and category lead at Walmart Marketplace, said in a Wednesday (April […]
Google is laying off an unspecified number of employees and shifting some roles to other countries as part of a continuing effort to cut costs. The employees will be able to apply for other roles at the company and some of the impacted roles will move to hubs in India, Chicago, Atlanta and Dublin, a Google […]