Five At Five: Apple Slumps In China

Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes a new smartphone forecast and Alexa’s ambition to become a nurse. American Express has a new dispute partnership, retail sales are sluggish and the curtain is closing on Sears. Apple iPhone Demand Slumping in China; Could Hurt Results According to Goldman Sachs

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Virgin Money Buyout By CYBG Receives All-Clear

A court hearing late last week gave the all-clear for CYBG to complete its acquisition of Virgin Money for $2.24 billion, finalizing one of the largest bank mergers since the financial crisis, according to reports in Independent.ie on Monday (Oct. 15). The final approval followed clearance from the U.K. Financial Conduct Authority (FCA) and the Prudential Regulation Authority, as well

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Mastercard Rounds Out SMB Services In India With Zoho

Small business (SMB) cloud solutions provider Zoho is reportedly teaming up with Mastercard in India to provide holistic accounts receivable solutions. A press release from Mastercard, issued Monday (Oct. 15), said the companies will promote acceptance of digital payments for India’s 73 million SMBs through their “SME in a box” solution. Their partnership will enable small businesses to collect payments

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MIT Bringing AI To Non-Computer Disciplines With New School

Massachusetts Institute of Technology (MIT), aiming to take a lead in educating on artificial intelligence, machine learning and advanced computing, is creating a new college called MIT Stephen A. Schwarzman College of Computing with a planned investment of $1 billion. The New York Times, citing MIT, reported that two-thirds of the $1 billion has already been raised, including a $350

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American Express, Ethoca Team To Solve Disputes Between Merchants, Cardholders

American Express, the payments company, and Ethoca, a provider of collaboration-based technology solutions for merchants and card issuers, announced on Monday (Oct. 15) a collaboration to resolve issues quicker. In a press release, the companies said the partnership is aimed at helping American Express merchants and card members in the U.S. to more quickly resolve disputes related to card purchases.

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Amex Taps Alt-Lender Ezbob In SMB Financing Push

American Express has announced a partnership with U.K.-based alternative lending platform Ezbob as it continues to broaden its small business financing offerings. In a press release issued on Monday (Oct. 15), American Express said it will refer qualified small- and medium-sized business customers to Ezbob to access up to £300,000 (about $395,000) in financing. SMBs that take out a loan

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