Fintech Industry News
A collection of Fintech latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI
Shares in the financial technology company Block have soared more than 20% in after-hours trading after its CEO announced it was laying off more than 4,000 of its 10,000 some employees due to its use of artificial intelligence. “The core…
Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI
File- This photo taken Nov. 19, 2015, shows Square CEO Jack Dorsey being interviewed on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File) By ELAINE KURTENBACH, Associated Press BANGKOK — Shares in the financial…
Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI
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Fintech company Block lays off 4,000 of its 10,000 staff, citing gains from AI
BANGKOK (AP) — Shares in the financial technology company Block soared more than 20% in premarket trading Friday after its CEO announced it was laying off more than 4,000 of its 10,000 plus employees, reconfiguring to capitalize on its use…
This Week in Stablecoins: FinTech, Big Tech and Regulation
Multiple stablecoins, operating under different regulatory regimes, will need mechanisms to transact seamlessly with one another and with traditional bank money. When infrastructure becomes boring, it has usually won. Stablecoins are not there yet.
London Broncos signs deal with Australian fintech OFX
London Broncos have expanded their sponsorship portfolio, signing a deal with global financial operations company OFX. It comes as London Broncos, the only major English rugby league club south of the sport's northern heartlands, seek promotion to…
Fintech Stocks To Follow Now - February 26th
3 Stocks Well Below 52-Week Highs Poised for a Q4 Rebound Rocket Companies, Joint Stock Company Kaspi.kz, UP Fintech, IDT, DeFi Development, PPDAI Group, and Wealthfront are the seven Fintech stocks to watch today, according to MarketBeat's stock…
Block's Jack Dorsey wants nimble and quick. He thinks AI will do the trick.
Block be nimble/Block be quick/Jack thinks cutting nearly half his staff because of AI will do the trick. Block CEO Jack Dorsey announced he's cutting nearly half his staff, axing more than 4,000 of the company's 10,000 employees. It's a drastic…
How Misfits Market Grew Into A $500 Million Revenue Business
Think this is nice? It's a version of the weekly Under 30 newsletter and would be even better in your inbox. In 2018, fed up with the sheer volume of perfectly edible food going to waste, Abhi Ramesh decided to take matters into his own hands.
Jack Dorsey makes a grim prediction about the future of work as he lays off 4,000 Block employees in AI push
Jack Dorsey, CEO of Block Inc, is not only laying off nearly half of the company's workforce, but he wants investors to think he's an AI -focused trailblazer for doing so. In a letter to shareholders on Thursday, Dorsey shared that Block's…
Block shares soar as Dorsey leans on AI to trim workforce
Feb 27 (Reuters) - Block shares soared more than 20% in premarket trading on Friday after it announced it would nearly halve its workforce as part of an overhaul to embed artificial intelligence tools across its operations.
Top 3 Trending Crypto On Coinpedia Markets: Bitcoin, Kaspa, Pengu
After NVIDIA, the Chip giant registers quarterly revenue of $68.1B (73% YoY), the crypto market reacted in parallel. Bitcoin was pulled back from the critical $61,000 zone to barely hit $70,000 again. The AI coins and altcoins recorded the biggest…
Nymex Overview: Oil Futures Climb on Continued Tensions Between the US and Iran -- OPIS
Crude oil contracts were up at midday Friday on renewed concerns over U.S.-Iran tensions and as the front-month Brent, RBOB, and ULSD are set to expire at the end of the day. The NYMEX April West Texas Intermediate contract was up $1.27 at…
Jack Dorsey Bets Block's Future On AI, Cuts Nearly Half Its Workforce
MIAMI, FLORIDA - JUNE 04: Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04…
Billionaire Martinez Says $1.1 Billion AHMSA Auction Delayed
Billionaire David Martinez tried to acquire troubled steelmaker Altos Hornos de Mexico SA in an auction declared deserted by a judge on Thursday. The bidding process for AHMSA, as the company is known, had a minimum ask of $1.1 billion, in which a…
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