Amex: SMB Spending Above Pre-Pandemic Levels

American Express said third-quarter results were buoyed by consumer and business spending that surged above pre-pandemic levels. Spending by smaller firms was notably strong, management noted on the earnings call…

Kakao Pay’s Seoul IPO Raises $1.3B

South Korea’s biggest digital payments platform Kakao Pay raised $1.28 billion in an initial public offering (IPO) priced at the top of its range, according to multiple reports on Friday…

Carrefour Pursues eCommerce Ambitions in Europe

French retail giant Carrefour announced uneven growth performance in Europe in its third quarter financial results, generating about 20.4 billion euros ($23.7 billion), a 4% quarter-on-quarter increase in sales revenue…

Facebook’s Earnings May Hint at Resiliency

Facebook’s earnings report will come after the bell — and the numbers will tell a tale, perhaps, of business model resiliency. Facebook has been no stranger to the headlines, where…

Allbirds Shoots for $2.2B Valuation in IPO

Self-proclaimed ethical shoemaker Allbirds has set its sights on a $2.2 billion valuation for its initial public offering (IPO), according to a filing with the Securities and Exchange Commission (SEC)…

Dow, S&P hit records as Tesla tops $1T

U.S. stocks marched to record highs as investors digested another batch of earnings and oil hit a seven-year high.  The Dow Jones Industrial Average rose 66 points, or 0.19%, while…

Over 90 groups urge Biden to drop IRS bank-reporting requirement over privacy concerns

A group of nearly 100 banks and other industry groups urged the Biden administration to drop a deeply controversial proposal that would force banks to turn over most customers' account…

Larry Summers, Janet Yellen clash over inflation fears

Former Obama administration economic adviser Larry Summers fired back at Treasury Secretary Janet Yellen on Monday after she argued he was \”wrong\” to suggest the country faced a risk of…

Zuckerberg slams Facebook Papers, defends company\’s record

Facebook CEO Mark Zuckerberg defended the company's record on Monday after a group of 17 U.S. media outlets, including FOX Business, began reporting on a trove of documents and disclosures…

Paypal abandons Pinterest takeover after its shareholders balk

PayPal Holdings Inc. backed off a potential $40-billion-plus takeover of Pinterest Inc. after the payments company’s shareholders balked. PayPal said in a statement late Sunday that it was \”not pursuing…

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