Category: All News Except Press Releases

A surge in eCommerce returns driven by COVID-19-related policy changes is hurting retailers but helping logistics companies, the Financial Times reports. On each side of the equation, the math is simple. Retailers that sell a product to a customer who ultimately returns it not only absorb the cost of executing a sale that ultimately will […]

U.S. airlines are likely to lose more than $35 billion in 2020, CNBC reported, citing public documents and analysts’ forecasts. Moreover, airlines aren’t expected to recover until the second half of calendar 2021, according to CNBC. Among the data CNBC cited were major drops in the share prices of airlines in 2020 — declines that […]

T-Mobile has told some customers of a “security incident” in which a malicious party “may have impacted some of your T-Mobile account information.” A web page to which some customers were pointed states that the stolen data “may have included phone number, number of lines subscribed to on your account and, in some cases, call-related […]

Finja, the Pakistan-based digital lending FinTech, has raised $9 million in a Series A round for $10 million, according to a company press release. The company counted contributions from ICU Ventures and the existing investors BeeNext, Vostok Emerging Finance, Quona Capital, and Gray MacKenzie Engineering Services, which is a Descon company. The release says the […]

MGM Resorts International is trying to acquire Entain, the British parent of major online-gambling player Ladbrokes, the Wall Street Journal reports. The Journal said the cash and stock offer for the company, which is valued at about $9 billion, follows a $10 billion cash-only offer that Lanbrokes rejected. The Journal said it was unable to […]

The Financial Action Task Force (FATF) is warning of new ways of money laundering via exports like onions, potatoes, soft fruits or expensive cars, a report from the Financial Times says. Called trade-based money laundering, the new kind of fraud, according to FATF President Marcus Pleyer, enabled one criminal organization to move over $400 million […]

The recently discovered cyber attack on federal government agencies and companies handling data as sensitive as information regarding new nuclear weapons was run from servers within the United States, The New York Times reports. The intruders’ use of servers within the country made the attack especially potent because of laws that prevent the government’s main […]

Some intended COVID-19 stimulus beneficiaries won’t see any money the federal government sends them through direct deposits because unpaid overdraft fees will more than consume newly injected funds, The New York Times reports. The Times reports that many larger banks have pledged to temporarily “zero-out” customers’ in-the-red accounts for around 30 days so the customers […]

Finance Factory has rolled out its new automated credit review platform, which will be able to analyze 27 data points quickly and determine a borrower’s fundability, a press release says. The tool will be able to work with inquiries and credit mix alongside debt-to-income and debt-to-credit calculations, and will be able to work with potential […]

New legislation passed by Congress will implement new regulations on the antiquities trade in order to hopefully crack down on the possibility of money laundering or other crimes, The New York Times (NYT) writes. The legislation was part of a package passed by Congress after it overrode President Donald Trump’s veto. Under the new provisions […]