Core Insights - Fold is launching a Visa credit card powered by Stripe Issuing that offers bitcoin rewards on every purchase, leading to a significant increase in its share price during pre-market trading [1] - The card provides up to 3.5% back on spending, with 2% unlimited instantly and an additional 1.5% for customers who pay balances from a Fold checking account with qualifying activity [2] - Fold has processed $3.1 billion in transaction volume and distributed $83 million in bitcoin rewards to date, with over 500,000 active users [3] Company Developments - Fold's new credit card is part of its consumer suite, which includes banking, custody, exchange, and debit services [3] - The company has transitioned from a bitcoin gift card business to a crypto rewards model since 2019 [3] Industry Trends - Stripe has expanded its crypto initiatives, including partnerships that allow Shopify merchants to accept USDC, indicating a growing trend in fintech bridging traditional payments and blockchain [4] - Visa reported an estimated $1 billion in annualized stablecoin settlement volume, highlighting the increasing competition in payments-linked digital asset rewards [5] Market Reaction - Fold shares initially rose over 23% in pre-market trading but fell about 10% to $3.46 by mid-afternoon, reflecting challenges in maintaining momentum in the U.S. fintech sector [6]

LOGIN SUBSCRIBE | FastCo Works advertisement Amazon moves to close UK grocery stores BYÂ Michael Grothaus Listen to this ArticleMore info 0:00 / 0:00 Today, Amazon abruptly announced that it launched "a consultation with employees†for the proposed closure of all Amazon Fresh locations in the United Kingdom. (UK laws require consultation periods in cases of large layoffs.) The company currently has 19 UK Amazon Fresh stores. In a blog post, Amazon states that the proposed closures are the result of an evalua ...

We've been hearing from business leaders, as you just heard there this week, on the president's move to increase the fee for H-1B visas to $100,000 per year. For more on the impact to the tech sector and startups, let's bring in Lar Hippo, managing director, Eric Hippo, thank you so much for being with us. I mean, I think many many in this conversation are are thinking about the smaller players, but obviously innovation comes from all sorts of places, small players, big players, and if they're unable to pay ...

Core Insights - Amazon is closing 14 of its 19 Amazon Fresh stores in the U.K. and rebranding the remaining five as Whole Foods Market locations, indicating a strategic shift in its grocery retail approach [3][4][5] - The Amazon Fresh concept, which aimed to innovate the grocery shopping experience with checkout-free technology, has not resonated with British consumers, leading to underperformance in a competitive market [6][7][8] Company Strategy - The company plans to bolster its Whole Foods Market presence, with a new store opening in Chelsea and another planned by 2026, increasing the total to 12 locations in the U.K. [9][10] - Despite the closure of Amazon Fresh stores, Amazon is committed to enhancing its online grocery operations, which are reportedly growing faster than other segments of its U.K. business [10][11] Market Performance - Amazon reported a significant increase in demand for everyday essentials, with hundreds of millions of items delivered in 2024, reflecting nearly 20% year-over-year growth [13] - Grocery and household goods are now accounting for approximately one in every three units sold on Amazon's U.K. website, indicating a shift in consumer purchasing behavior [13][14]

Recently, Alphabet Inc. ( GOOGL ) ( GOOG ) once again surpassed Amazon.com, Inc. (NASDAQ: AMZN ) in market cap, becoming the fourth largest in the US, behind only NVIDIA Corporation ( NVDA ), Microsoft Corporation ( MSFT ), and Apple Inc. ( AAPL ).Equity Research Analyst with a broad career in the financial market, covered both Brazilian and global stocks. As a value investor, my analysis is primarily fundamental, focusing on identifying undervalued stocks with growth potential. Feel free to reach out for c ...

Recently, Alphabet Inc. ( GOOGL ) ( GOOG ) once again surpassed Amazon.com, Inc. (NASDAQ: AMZN ) in market cap, becoming the fourth largest in the US, behind only NVIDIA Corporation ( NVDA ), Microsoft Corporation ( MSFT ), and Apple Inc. ( AAPL ).Equity Research Analyst with a broad career in the financial market, covered both Brazilian and global stocks. As a value investor, my analysis is primarily fundamental, focusing on identifying undervalued stocks with growth potential. Feel free to reach out for c ...

Group 1 - JPMorgan Chase & Co. CEO Jamie Dimon expressed concerns over President Trump's new $100,000 fee on H-1B visas, indicating that it has left companies, including JPMorgan, struggling to assess the potential impact [1][2] - The new fee, imposed on new H-1B petitions, has caused confusion and panic among employers and workers, prompting major technology firms like Microsoft, Amazon, and Alphabet to advise employees against foreign travel [1][2] - JPMorgan is one of the top 10 companies in the US sponsoring H-1B visas, with 2,440 employees holding such visas, highlighting the significance of the H-1B program for the company [3] Group 2 - Dimon anticipates "some push-back" against the new visa fee, emphasizing the need for the US to remain an attractive destination for global talent while balancing border control [3]

Amazon and the Federal Trade Commission are reportedly scheduled to present their opening arguments Tuesday (Sept. 23) in a case in which the FTC alleges that Amazon tricked people into signing up for its Prime membership program and made it difficult for them to cancel.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to u ...

Core Insights - Amazon is closing all 19 of its Fresh supermarkets in the U.K. as part of a strategic shift towards online delivery opportunities [1] - The company plans to convert five of the Fresh locations into Whole Foods stores [1] Group 1: Business Strategy - The decision to close Fresh stores follows a thorough evaluation of business operations [1] - Amazon's grocery strategy has been recalibrated, with a slowdown in the expansion of Fresh grocery chains and Go cashierless stores in the U.S. [3] - The company continues to operate 500 Whole Foods locations and has introduced mini "daily shop" Whole Foods stores in New York City [3] Group 2: Store Concept and Market Position - Amazon Fresh stores, which opened their first location outside the U.S. in London in 2021, offer lower prices and more mass-market items compared to Whole Foods [2] - Many Fresh stores feature Amazon's cashierless "Just Walk Out" technology, enhancing the shopping experience [2]

Amazon.com said it planned to close all of its 19 Amazon Fresh UK convenience grocery stores, of which five would be converted to its Whole Foods Markets brand, less than five years after it entered the market. ...