A new study from Marqeta, the card issuing platform, has revealed that embedded finance is experiencing significant growth in the UK, with consumers increasingly embracing the convenience it offers, particularly in the realm of payments. The annual ‘State of Payments’ report surveyed 4,000 consumers across three continents, including 1,000 from the UK. The findings indicate…
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Apple acquires AR startup Mira
Tech giant Apple has reportedly acquired Mira, a Los Angeles-based augmented reality (AR) startup. The news of the acquisition was revealed through the CEO of Mira on their private Instagram account, according to reports from The Verge. Mira is known for its headset technology featured in the Super Nintendo World experience, specifically in the popular…
Australia’s First-Quarter GDP Growth Below Expectations, Reflecting Slowdown
Australia’s gross domestic product (GDP) expanded by 2.3% year-on-year in the first quarter, slightly below analyst expectations, according to data from the country’s Bureau of Statistics. Economists surveyed by Reuters had anticipated a growth rate of 2.4%, compared to the 2.7% expansion recorded in the previous quarter of 2022. On a quarter-on-quarter basis, GDP increased…
Subway Unveils Ambitious Expansion Plan to Multiply Its Presence in China by Sevenfold
In a major move that has caught the attention of the global fast-food industry, Subway, the renowned sandwich chain, has announced its plans to significantly expand its operations in China. The company revealed on Tuesday its intention to open nearly 4,000 new stores across mainland China over the next two decades. This endeavor will result…
Payroll Software Developer Immedis Acquired by UKG in Deal Facilitated by Terry Clune
Kilkenny, Ireland: Renowned businessman Terry Clune has announced the sale of Immedis, a leading payroll software developer, to UKG, a prominent US multinational. The transaction, confirmed by both companies on Tuesday, is set to be finalized within the next two months. Immedis, a subsidiary of Clune’s Clunetech group based in Kilkenny, specializes in providing software…
U.S. Securities and Exchange Commission (SEC) on a rampage against crypto trading platforms
Washington, D.C.: The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase, the largest cryptocurrency exchange in the United States, accusing the company of operating unlawfully by failing to register with the regulatory agency. This legal action marks the SEC’s second lawsuit in as many days targeting a major cryptocurrency exchange, following…
Ford Motor Co Announces Expansion of Recall for SUVs and Trucks Due to Fire Risk
Dearborn, Michigan: Ford Motor Co has announced an expansion of its recall, affecting approximately 125,000 sport utility vehicles and trucks, due to potential engine failures that could lead to a fire hazard. The recall encompasses certain models of the Escape and Lincoln Corsair SUVs, as well as the Maverick compact pickup trucks from the 2020-2023…
Microsoft Settles with FTC for $20 Million Over Illegal Collection of Children’s Personal Information
Redmond, Washington: Microsoft has agreed to pay a settlement amount of $20 million (£16 million) to the US Federal Trade Commission (FTC) to resolve charges of illegally collecting personal information from children without parental consent. The tech giant was accused of violating the US Children’s Online Privacy Protection Act (COPPA) by collecting and retaining personal…
Emirates Considers Additional Airbus A350 and Boeing 777X/787 Orders to Meet Future Demand
Emirates President Tim Clark announced on Tuesday that the Dubai-based airline is considering ordering additional aircraft from Airbus and Boeing as it looks ahead to future demand in the aviation industry. During a global airlines meeting, Clark revealed that Emirates is exploring the possibility of acquiring more Airbus A350s, Boeing 777Xs, or 787 jets to…
Intel Corp to Sell $1.5 Billion Stake in Mobileye Global Inc
Intel Corp, the multinational technology company, has filed a regulatory document indicating its plan to offer 35 million shares of Class A common stock in Mobileye Global Inc. The stake sale is expected to amount to approximately $1.5 billion, according to the filing submitted on Monday. Following the completion of the offering, Intel’s voting share…
Investment in European Tech Startups to Decline by 39% in 2023, says Atomico
According to data released by venture capital firm Atomico, investment into European tech startups is expected to decrease by another 39% this year, indicating ongoing challenges in the global tech sector. Atomico projects that funding for Europe’s venture-backed startups will decline from $83 billion in 2022 to $51 billion in 2023. This decline can largely…
Reserve Bank of Australia Surprises Market with Interest Rate Hike Amidst Inflation Concerns
In an unexpected move, the Reserve Bank of Australia (RBA) announced a 25 basis points increase in its benchmark interest rate to 4.1% on Tuesday, defying market expectations. Economists, polled by Reuters, had anticipated the central bank to maintain rates at their current level. The news led to a further decline in Australian stocks, with…