PayPal finally addressed the $53bn offer sitting on its table. Its answer was: not at that price. The company gave its first public response on Tuesday’s Q2 earnings call, alongside a beat. Chief executive Enrique Lores would not comment on Stripe and …
Apple has a new answer to the complaint that its products cost too much. Do not buy them. Lease them. On Tuesday the company launched Apple Upgrade in the US, a leasing programme run by the buy-now-pay-later firm Klarna. It covers the iPhone, Apple Wat…
Visa is cutting about 2,600 jobs, roughly 7% of its staff, and it is cutting them mostly from the teams that build its technology. The money it saves is going into the payment methods that could one day make those rails matter less. The payments networ…
Two hotel groups moved into ChatGPT this week, a day apart and at opposite ends of the market. Radisson Hotel Group launched an app on Tuesday, built with Accenture, covering more than 1,000 hotels in over 100 countries. G6 Hospitality launched a plugi…
Cover Genius has acquired Friendsurance, the Berlin company that invented peer-to-peer insurance. The deal took effect immediately, and neither side disclosed a price. Friendsurance built its name on a simple idea. Small groups of policyholders pool to…
X Money went live on Monday. Buried in its support pages is a rule that no ordinary bank applies to a current account. “If your X account is suspended for violating Child Safety or Violent and Hateful Entities policies, you will lose Money access,” the…
A development bank has just minted a unicorn, and it took two years. Ominimo, a Budapest-based motor insurance startup founded by Serbian and Hungarian entrepreneurs, has closed a Series B led by the venture arm of the European Bank for Reconstruction …
China’s market regulator fined Trip.com Group $765 million on Saturday after concluding that the country’s largest online travel platform abused its dominant market position. The State Administration for Market Regulation said Trip.com used its traffic…
Stripe wants a foothold in AI, and it is willing to pay dearly for it. The payments company is in talks to buy OpenRouter for about $10 billion, the Wall Street Journal reported. That is a staggering price for a startup valued at just $1.3 billion in M…
Shares in Wise fell about 10% on Friday after the US Office of the Comptroller of the Currency declined the money-transfer firm’s application for a national trust bank charter, the licence that would have wired it directly into the Federal Reserve’s pa…