Tapestry challenges European luxury dominance with Capri Holdings acquisition: The $8.5 billion purchase will enable the Coach owner to push upmarket and grow its share of global luxury sales.
From home office to Google hotel room: Convincing employees that hotel sleepovers are better than remote work will be tough. Offering affordable housing and flexibility are a better strategy.
75% of organizations globally eye ChatGPT ban: Generative AI enthusiasm might be muted by growing concerns about the technology’s risks. It could spur higher demand for enterprise products.
Crypto-friendly Revolut to end crypto services to US customers: The UK neobank blamed regulatory uncertainty as lawsuits drag on and crypto bills limp toward the US Senate.
Response to FDIC special assessment suggests banks are writing off 2023: Replenishing the deposit insurance fund after a $15.8B drawdown to cover the March regional banking crisis was never going to be cheap or easy.
More European troubles for Meta: The social media giant will be fined nearly $100,000 per day in Norway over data privacy violations.
PayPal USD could be a market mover and expand stablecoin payments adoption
Rolling out cards in Latin America’s largest ecommerce market can help Amazon capture more volume as it grows its financial solutions
But the metric doesn’t take into account the full picture of consumers’ financial health
LiveRamp broadens Pinterest collaboration: Global advertisers to benefit from enhanced data integration.
Personalized service and problem-solving still send consumers to branches: But they agree that for most transactions, apps get the job done best. Now a survey suggests a third way—a Zoom call with a banker.
The landscape has looked good for retailers this earnings season: But several potential challenges could derail that positive momentum in the months ahead.
Warby Parker and Allbirds are headed in opposite directions: Warby Parker boosted its outlook after reporting another quarter of growing sales and profits, while Allbirds continued to struggle.
Retail media is one of the fastest growing ad channels we track, due in part to the allure of closed-loop attribution powered by retailers’ first-party consumer data. But advertisers are starting to curb their enthusiasm given measurement challenges stemming from the lack of methodological standards across platforms. As it stands, it’s nearly impossible for advertisers to compare platforms against each other, which can lead to misallocation of budgets.
US adults are fairly evenly split on using mobile payment apps online versus in-store—except with PayPal, where 36% of users use the platform online most often, compared with 29% of users who use the app in-store, according to CivicScience.
The initial wave of excitement over generative AI is fading, leaving many retailers asking, “Now what?” Some might want to look toward Shopify, which is incorporating generative AI capabilities across its platform to help sellers build and scale their businesses more quickly. Or maybe take a cue from eBay, which is using the tech to make more accurate and helpful product recommendations. Meanwhile, Etsy is working to democratize access to machine learning models to help speed up deployment across its organization.
Since Google debuted its Search Generative Experience AI-based interface in beta three months ago, it’s made a lot of updates to alleviate early concerns from testers. But according to search expert Lily Ray, Google still has some work to do to fix issues with its new AI-driven experience. Meanwhile, Microsoft—which is still a very distant rival—continues to innovate on Bing Chat, which Ray called “the best AI product that’s out there right now.”
Carvana expects profitability to improve in Q3 as cost-cutting initiatives bear fruit: It’s well-positioned to capitalize on higher interest rates and new car prices.
A $5B lawsuit over Chrome’s ‘Incognito mode’ privacy moves closer to trial. Plaintiffs argue Google misused data, but Google stands firm on its transparency.
Disney’s future is built on AI: The company has a task force looking for ways to implement the tech across its vast entertainment empire.