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Salesforce Cuts 300 Jobs in Year’s Second Round of Layoffs
Salesforce reportedly cut about 300 jobs in July after eliminating 700 roles earlier this year. The latest cuts are part of the company’s ongoing effort to streamline its operations, Bloomberg reported Monday (July 15), citing an unnamed source. Without specifying the number of layoffs, a Salesforce spokesperson told Bloomberg:...
China’s Economic Growth Shows Surprise Slowdown
Economic growth in China reportedly fell to its slowest pace in five quarters. The surprise slowdown came as a decline in consumer spending hamstrung an increase in exports, Bloomberg reported Monday (July 15). Gross domestic product grew 4.7% year over year in the second quarter, lower than all but one...
What We’ve Learned Tracking the 100 Connected Economy Leaders Since 2022
The Connected Economy (CE) 100 Stock Index was launched in February 2022. It was introduced as an equity index of 100 publicly traded companies across 11 categories, aiming to track the digital transformation and the growth of the connected economy. At the time, though we were emerging from the pandemic,...
Fashion Brands Drop Virtual Goods to Drive Omnichannel Engagement
From the metaverse to video game worlds, fashion companies are releasing digital clothing and accessories to create new sales opportunities and get consumers to engage more with their brands. Vans, for instance, is expanding its presence within online game platform and game creation system Roblox. The footwear and fashion brand...
Gen Z Consumers 117% Likelier to Shop From Influencers
As social commerce comes to occupy a growing role in retail overall, Generation Z consumers are the most likely to seek shopping inspiration from influencers. The PYMNTS Intelligence special report “Generation Zillennial: How They Shop” is based on responses from more than 3,600 U.S. consumers, seeking to understand how shopping habits differ across generations.
Boutique Investment Bank Ardea Reportedly Eyes UK Expansion
Boutique investment bank Ardea Partners is reportedly planning to expand in the U.K. As the Financial Times (FT) reported Monday (July 15), the New York-based Ardea is growing its London office with the recent hiring of Sir Ian Cheshire, who is chair of broadcaster Channel 4 and property group Land Securities, as a senior adviser.
Macy’s Board Ends Acquisition Talks With Arkhouse, Brigade
The Macy’s board of directors has unanimously decided to end acquisition talks with Arkhouse Management and Brigade Capital Management. The decision follows more than seven months of engagement that included a due diligence process, Macy’s said in a Monday (July 15) press release. “At this time, after careful...
Finance Platform OneStream Aims to Raise $465.5 Million in IPO
OneStream is attempting to raise $465.5 million in an initial public offering (IPO). The cloud-based enterprise finance platform revealed its plans in a filing with the Securities and Exchange Commission Monday (July 15). OneStream and its shareholders — including investment group KKR — are offering 24.5 million shares for $17 to $19 each.
Goldman’s Card Balances Up 11% as Management Is ‘Pleased’ With Credit Performance
Goldman Sachs’ GreenSky sale is in the rearview mirror and its pivot from Main Street banking is ongoing. Its latest earnings results, released Monday (July 15), show that “substantially all” of the Marcus loans were sold a year ago. As PYMNTS reported earlier this year, independent digital...
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