Retailer Party City Files for Bankruptcy
Retailer Party City, which has been facing difficulties since the coronavirus pandemic, filed for Chapter 11 bankruptcy protection in the United States last weekend for the second time in two years.
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Klarna Becomes Default Option for WooCommerce
Klarna payments will be automatically enabled for all the new merchants using the WooCommerce platform.
Nordstrom to Go Private
Nordstrom, the luxury department store chain, announced on Monday, December 23, that it would become a private company after it agreed to a buyout deal valued at approximately $6.25 billion from Nordstrom’s founding family and Mexican department store El Puerto de Liverpool.
Xerox to Buy Printer Maker Lexmark
Xerox will acquire Lexmark International, a Chinese-owned company specializing in printer-making and printing software development.
Apple Approaches $4 Trillion Valuation
Apple is currently approaching its historical market capitalization indicator of $4 trillion.
Fed’s Beth Hammack Says Economic Strength Argues Against Rate Cut
Federal Reserve Bank of Cleveland President Beth Hammack said this week she voted against cutting interest rates by the United States financial regulator, as the strengthening of the US economy and inflation outlook do not indicate expediency of further easing of monetary policy.
China Keeps Benchmark Lending Rates Steady
Last Friday, December 20, the People’s Bank of China decided to keep its main benchmark lending rates at the same level, as the Asian country is currently facing the challenge of bolstering economic growth while backstopping the weakening yuan.
OpenAI to Launch More Advanced Reasoning Model
OpenAI is currently preparing to launch a new model of artificial intelligence, which, according to this startup, is capable of more advanced reasoning, similar to the human paradigm of thinking.
Southeast Asia Seeks to AI Boom
Southeast Asia is gradually becoming a promising investment hot spot for leaders in the global artificial intelligence industry such as Nvidia and Microsoft, which are making financial injections in cloud services and data centers.
Wells Fargo Leaves Climate-Banking Group
Wells Fargo & Co., one of the largest financial institutions in the United States, has announced that it is leaving the world’s largest banking climate alliance.
Justt Raises $30 Million
Chargeback management company Justt raised a $30 million investment to bolster its platform powered by artificial intelligence.
Morgan Stanley Reportedly Predicts Favorable Environment for Lenders in 2025
The media published information according to which Morgan Stanley upgraded its rating and price targets for shares of several credit card companies and lenders.
Visa Acquires Featurespace to Boost Transaction Monitoring With AI
Visa has officially completed its acquisition of Featurespace, a company specialising in real-time artificial intelligence (AI) technology for payment protection, announced in September.
Bank of England Holds Rates
The Bank of England on Thursday, December 19, as part of its last monetary policy meeting this year, decided to keep interest rates at the same level.
Accenture Beats Quarterly Revenue
Accenture on Thursday, December 19, released a report on its earnings for the first quarter of fiscal 2025, which exceeded Wall Street’s preliminary expectations regarding this company’s revenue and profit for the mentioned period.
China’s GenAI Sector Sees More Funding
The Chinese generative artificial intelligence sector received more funding this year, but at the same time recorded a decrease in the number of deals.
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