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Report: Oracle Health Facing Challenges Modernizing Outdated Systems
PYMNTS· 2024-05-10 00:09
Oracle has reportedly encountered obstacles in its ambitious plans for electronic medical records company Cerner, which it acquired for $28 billion in December 2021.The company has lost several major clients since the acquisition, its focus has shifted from innovative product ideas to upgrading legacy systems, and its engineers have been taken aback by the effort required to implement changes and migrate customers to the cloud, Bloomberg reported Thursday (May 9), citing interviews with current and former e ...
Amazon Says New Fulfillment Fees Reflect Underlying Costs
PYMNTS· 2024-05-09 22:22
Amazon said Thursday (May 9) that the updated fees for merchants using its fulfillment, storage and shipping services reflect underlying costs and are “significantly less” than those announced by other major fulfillment services. “We have been listening to seller feedback and working with our seller partner community to explain our updated fees, which are designed to more accurately reflect underlying input costs for Amazon and sellers, give sellers more choice for how they inbound their inventory to our si ...
Groupon: American Consumers Are Spending More on Experiences, Less on Products
PYMNTS· 2024-05-09 21:55
Core Insights - Consumers are increasing spending on travel and local experiences while reducing purchases of retail products [1][2] - Groupon's North American segment, excluding the Goods business, experienced an 8% year-over-year growth, while gross billings from Goods declined by 36% [1] - The company is focusing on enhancing local experiences and services under the leadership of newly appointed CEO Dusan Senkypl [2] Financial Performance - Gross billings for local experiences in North America rose by 4%, and travel gross billings increased by 3% [2] - Groupon reported four consecutive quarters of positive Adjusted EBITDA, indicating a stabilization in topline performance [2] Consumer Behavior Trends - A significant portion of consumers, particularly across income levels, are cutting back on nonessential spending due to rising retail product prices [1] - There is a generational trend where younger consumers allocate more income towards recreation, leisure, and entertainment activities [3] Strategic Initiatives - Groupon is leveraging digital innovations to enhance consumer experience, including fraud prevention, improved search capabilities, and the use of artificial intelligence to enhance deal quality [3] - The company is actively removing low-quality deals and helping quality merchants curate their offerings to drive demand [3]
American Express Introduces Business Card for Nigerian Users
PYMNTS· 2024-05-09 17:42
American Express is rolling out a business credit card in Nigeria, its first such product in the country.The card offers business owners a spending limit of $10,000 and a repayment period of up to 45 days for international transactions, and comes as a result of a partnership with local neobank O3 Capital, according to a Thursday (May 9) Bloomberg report, which noted that the launch of the card could improve working capital access in the West African nation.“The first-ever American Express Business Card in t ...
Report: Alphabet in Continuing Talks to Acquire HubSpot
PYMNTS· 2024-05-09 16:09
Google parent company Alphabet is reportedly in continuing talks with HubSpot about acquiring that company.The companies have discussed the potential terms of a deal, although the deliberations are ongoing, there is no certainty the two companies will come to an agreement, and another potential buyer could emerge, Bloomberg reported Thursday (May 9), citing unnamed sources.Neither Alphabet nor HubSpot immediately replied to PYMNTS’ request for comment.HubSpot, a provider of marketing software, has a current ...
Tesla's Autopilot Scandal Puts Future of Autonomous Transport Under Microscope
PYMNTS· 2024-05-09 15:39
If you take your hands off the wheel, you might crash. That proverbial piece of advice, commonly leveled at business leaders and managers, has taken on a new meaning in light of the U.S. Department of Justice‘s (DOJ) investigation revealed Wednesday (May 8) into electric vehicle (EV) automaker Tesla’s Autopilot and Full Self-Driving (FSD) systems. The EV giant, known for its innovative approach to automotive technology, is currently under the microscope of U.S. federal prosecutors, as well as the U.S. Natio ...
Amazon to Launch Dedicated Online Store in Ireland in 2025
PYMNTS· 2024-05-09 15:26
Amazon will launch a dedicated online store in Ireland in 2025.The new Amazon.ie will offer more products from Irish businesses; low, local prices; and no additional customs charges, the company said in a Wednesday (May 8) press release.“This underscores our continued commitment to Ireland and will bring a wide selection of great value products with fast delivery to Irish customers, as well as provide great opportunities for small- and medium-sized Irish businesses to reach a bigger audience at home and abr ...
Airbnb Looks for Acceleration in Summer Travel but Guidance Disappoints
PYMNTS· 2024-05-09 00:16
Airbnb’s first quarter results showed growth in listings and in nights booked.And per management commentary on the conference call, demand for international travel remains robust — enough so that the firm is looking ahead to a “record” summer season, tied to sporting events such as the Olympics.But stable growth, forecast by management for the current quarter, left investors unimpressed, at least after the bell Wednesday (May 8), and they sent the shares lower by 8% in after-market trading.CEO Brian Chesky ...
Consumers' Click-and-Mortar™ Expectations Shape Shopify's Future
PYMNTS· 2024-05-08 19:08
Digital may have changed the face of retail, but consumers continue to want to shop in stores, demanding that even the most eCommerce-centric companies such as Shopify adapt.The commerce platform shared Wednesday (May 8) in an investor presentation accompanying its first-quarter 2024 financial results that it saw gross merchandise value (GMV) from its offline segment grow 32% year over year, describing this area as a “key growth lever in 2024 and beyond.”On a call with analysts, Shopify Chief Financial Offi ...
Affirm Credits Mid-Market With Q3 Earnings Gains
PYMNTS· 2024-05-08 16:57
Although it didn’t address two big elephants in the room, buy now, pay later company Affirm rode solid advancements in its debit card and gross merchandise volume metrics to better-than-expected Q3 earnings results. In what is a continuing referendum on consumer spend this earnings season, CEO Max Levchin painted a picture of a consumer financing FinTech that is cautiously increasing its risk exposure by extending credit to a larger consumer base while trying to maintain control over credit outcomes. As the ...