Accenture and Oracle expanded their partnership to help clients accelerate their adoption of generative artificial intelligence in the finance organization.The new solutions offered through this collaboration aim to help chief financial officers reinvent financial planning and analysis, optimize operations and fuel growth, the companies said in a Monday (May 6) press release.“Our clients are laser-focused on moving beyond generative AI experimentation to value realization,” Lan Guan, chief AI officer at Acc ...

J.P. Morgan and Visa have teamed to offer faster domestic payments via Visa Direct.The collaboration, announced Monday (May 6) is designed to improve merchant experiences and empower cardholders for customers of J.P. Morgan Payments.“With Visa Direct’s extensive reach in the U.S., J.P. Morgan Payments will empower merchants, businesses and FinTechs to embed faster domestic payments into their solutions,” the companies said in a news release provided to PYMNTS.This includes its Push to Card payment rail, whi ...

Warren Buffett’s Berkshire Hathaway has cut its stake in Apple, apparently for tax reasons.The conglomerate’s first quarter earnings report — released Saturday — showed the company’s investment in the tech giant at $135 billion. A report by CNBC noted this would mark a drop of 13%, though Apple remains Berkshire Hathaway’s largest holding, and that this was the second quarter in a row that it has reduced its stake in the company.During a question-and-answer session at Berkshire’s annual meeting in Omaha, Bu ...

Microsoft will inject $2.2 billion into Malaysia’s burgeoning cloud and artificial intelligence (AI) infrastructure over the next four years, CEO Satya Nadella announced on Thursday (May 2).The tech giant’s move highlights a growing effort to expand AI capabilities beyond U.S. and European borders. The commitment could position Malaysia as a key partner in driving technological innovation on a global scale.“We are committed to supporting Malaysia’s AI transformation and ensure it benefits all Malaysians,” N ...

Amazon reported strong financial results for the first quarter of 2024, as the company doubles down on its artificial intelligence (AI) initiatives and sees a resurgence in its cloud computing division, Amazon Web Services (AWS).The eCommerce giant’s net sales increased 13% year-over-year to $143.3 billion, while operating income jumped to $15.3 billion from $4.8 billion in the same period last year. AWS net sales rose year-over-year to $25 billion from $21.4 billion.Generative AI Takes Center StageAmazon’s ...

Google has reportedly reorganized its Core unit, which builds the technical foundation behind the company’s products.The reorganization included the layoffs of at least 200 employees and the shifting of some roles to India and Mexico, CNBC reported Wednesday (May 1).“As we’ve said, we’re responsibly investing in our company’s biggest priorities and the significant opportunities ahead,” a Google spokesperson told CNBC. “A number of our teams made changes to become more efficient and work better, remove layer ...

Kroger and Walt Disney Co. are reportedly exploring a partnership that would offer the Disney+ streaming service to subscribers of Kroger’s grocery delivery program.If a deal is struck, Kroger Boost subscribers would get access to Disney+ at no additional cost, Bloomberg reported Wednesday (May 1), citing unnamed sources.Neither Kroger nor Disney immediately replied to PYMNTS’ request for comment.Retailers have been adding paid subscriptions to generate additional revenue and greater customer loyalty, accor ...

Estée Lauder Companies’ debut of its first brand on the U.S. Amazon Premium Beauty store has “greatly exceeded” the company’s retail sales expectations so far.This new offering, which started with the Clinique brand in late March and will expand to include a select few other brands, has strategically expanded the company’s consumer reach, Fabrizio Freda, president and CEO of Estée Lauder, said in a Wednesday (May 1) earnings release.“Impressively, Clinique store has exceeded our retail sales expectations so ...

Block, owner of Cash App and Square, is reportedly facing a Department of Justice investigation.Federal prosecutors are in discussions with an ex-employee about allegations of widespread compliance failures at Cash App and Square going back years, NBC News reported Wednesday (May 1), citing unnamed sources.“From the ground up, everything in the compliance section was flawed,” the former employee said, per the report. “It is led by people who should not be in charge of a regulated compliance program.”The for ...

The volatile consumer healthcare sector showed up big in CVS’ Q1 earnings Wednesday (May 1), with solid revenue from its store operations but a warning about revenue projections due to its foray into the insurance sector. By the numbers, CVS Health reported first-quarter revenues of approximately $88 billion, marking a 4% increase year-over-year. However, the more concerning figure was the adjusted earnings per share (EPS) of $1.31, well below analysts’ projections of about $1.69, according to the Associate ...