PYMNTS

Simply Business has expanded its workers’ compensation insurance offering for small businesses by partnering with workers’ compensation provider Employers. With this expansion of its offering, Simply Business can digitally quote and bind workers’ compensation policies for more than 300 different types of small businesses across all eligible states, the companies said in a Wednesday (July 17) press release.

Simply Business Expands Workers’ Compensation Offering With Employers Partnership

Arvo Tech has raised $2.5 million in a Series A funding round to deliver its tax strategy solution to more small and medium-sized businesses (SMBs).,. The company will use the new funding to expand its strategic partner program, continue to develop its tax credit platform and help SMBs implement an overall tax strategy, Arvo Tech said in a Wednesday (July 17) press release.

Arvo Tech Raises $2.5 Million to Expand Tax Credit Platform

State Street is reportedly looking at a number of options for settling payments on blockchain. The financial services and banking firm is considering creating its own stablecoin, creating its own deposit token, joining digital-cash consortium efforts, and developing settlement options through blockchain payment startup Fnality, in which it has an investment, Bloomberg reported Wednesday (July 17), citing an unnamed source.

Report: State Street Considering Several Blockchain-Based Projects

Klarna is reportedly weighing financial advisors for its U.S. initial public offering (IPO). Goldman Sachs, J.P. Morgan Chase and Morgan Stanley were the top contenders to advise the Swedish payments FinTech, the Financial Times (FT) reported Tuesday (July 16), citing sources familiar with the matter. The company, a pioneer in...

Klarna Reportedly Prepping for Possible 2025 US IPO

Reuters

NEW YORK (Reuters) - PepsiCo CEO Ramon Laguarta said Thursday there is "much more price sensitivity" across U.S. income groups and not just low-income consumers, highlighting its sensitivity to broad shifts in consumer demand.

PepsiCo feels squeeze as financial pressure spreads from low-income consumers

In the race to infuse artificial intelligence (AI) into every corner of the digital world, Microsoft has set its sights on conquering the final frontier of office productivity: the humble spreadsheet. The tech giant’s latest creation, SpreadsheetLLM, aims to change how businesses crunch numbers and make decisions. By harnessing the...

Excel’s AI Makeover: Microsoft’s Billion-Dollar Bet on Smarter Spreadsheets

Kentucky State

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Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

California State

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The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

Verizon has unveiled a suite of initiatives designed to enhance customer choice and flexibility, marking an evolution in its brand strategy. The telecommunications giant has introduced programs aimed at enriching customer experiences across its portfolio. Central to Verizon’s strategy is the introduction of subscription-based and non-subscription programs tailored to consumer...

Verizon Launches Customer-Centric Initiatives, Redefines Brand Identity

(Reuters) -Citigroup reached an agreement with the Bourse de Montreal to resolve allegations that it failed to report positions on options contracts exceeding a certain threshold, the exchange said on Thursday.

Citi reaches settlement with Montreal Exchange on options reporting

Chase told customers that it will stop allowing its credit cards to be used to pay for third-party buy now, pay later (BNPL) plans. The bank said in a customer’s credit statement viewed by PYMNTS: “Effective October 10, 2024, you will not be able to use Chase credit cards to pay for third-party Buy Now Pay Later (‘BNPL’) installment plans. Payments to these installment plans (e.g., Klarna, AfterPay, etc.) using your Chase credit card will be declined.”

Chase to Decline Credit Card Payments for Third-Party BNPL Plans

Bank earnings continue to show credit remains a key payments choice. U.S. Bancorp’s earnings, released Wednesday (July 17) indicated that within the company’s payment services segment, credit card payment volumes came in at $36.5 billion, up 4.6% year on year. The average loan balance, overall, in the credit card segment, was $28 billion, up 8.8% from last year’s second quarter.

US Bancorp: Credit Card Volumes Surge, Loan Delinquencies Stabilize

Voice authentication and security firm Pindrop has raised $100 million in debt financing. The funding, announced Wednesday (July 17) and coming from Hercules Capital, allows Pindrop to further develop its audio, voice, and artificial intelligence (AI) technologies for customers in industries that include banking, finance, contact center, insurance, utilities, healthcare and retail.

Pindrop Raises $100 Million in Battle Against Deepfake Calls

On July 15, 2024, BlackRock Chairman and CEO Larry Fink appeared on CNBC’s “Squawk on the Street” to discuss the company’s latest quarterly financial results, the economic outlook, the failed assassination attempt on former U.S. President Donald Trump, the current investing landscape, the state of capital markets, and the evolving role of cryptocurrency in financial portfolios.

BlackRock CEO Larry Fink: ‘I Am a Major Believer That There Is a Role for Bitcoin in Portfolios’

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

New Jersey State

Trenton, NJ

Morristown Minute

NEW JERSEY - A Costa Rican man residing illegally in the United States was sentenced to 97 months in prison today for laundering over $2 million from wire fraud schemes, U.S. Attorney Philip R. Sellinger announced.

Costa Rican Sentenced to 8+ Years for $2M Elderly Fraud Scheme

Capital One Announces $265 Billion Community Benefits Plan. Capital One said Tuesday (July 16) that a combination of the bank with Discover Financial Services would provide more benefits to underserved communities than the organizations would offer separately. The bank said this in a press release announcing a $265 billion community...

Capital One Announces $265 Billion Community Plan as Part of Discover Deal

Markets Insider

Palantir stock is a top AI play that's undervalued by Wall Street, Wedbush analyst Dan Ives said. Ives pointed to deals with government agencies and businesses to back up his $50 per share bull case for 2025. Palantir is up 64% this year, outpacing the wider software sector's 15% gain.

Palantir stock has 67% upside amid rapidly rising demand from big businesses for AI tools, Wedbush says

Download the Money Mobility Tracker® Top of Wallet: Digital Wallets’ Ascent for Payments — and More. By completing this form, I have read and acknowledged the Terms and Conditions and agree that PYMNTS.com may contact me at the email address above. Digital wallets have revolutionized the payment...

Study: Digital Wallets to Overtake Debit Cards for In-Store Payments by 2027

Illinois State

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

NewsBreak

Small Business-Focused FinTech Wamo Raises $5 Million

London-based FinTech wamo has raised $5 million to develop small to medium-sized business (SMB)-focused banking solutions. In addition to the growth investment, CEO and founder Yanki...

Small Business-Focused FinTech Wamo Raises $5 Million

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