It’s Not Smart Tech If It’s Foolish

When English mountaineer George Mallory was asked in 1923 by The New York Times why he wanted to attempt to climb Mount Everest again (after having failed in 1921 and 1922), he gave what is likely the most famous three-word answer in history. “Because it’s there.” Mallory may or may not have reached the top of the mountain – that remains

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Walmart Adds Bare Necessities To Its eCommerce Acquisitions

Walmart has announced its acquisition of online intimate apparel seller Bare Necessities. The deal will see Bare Necessities CEO and Co-founder Noah Wrubel join Walmart as the head of the intimates category across Walmart.com and Jet.com; he will also continue to run the Bare Necessities business. The announcement also noted that over time, Bare Necessities goods will begin to make an appearance

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Sizzle/Fizzle

Sizzle Nubank: Gets a $180 million investment from Tencent, which brings Tencent into the Latin American market and also makes Nubank among the most highly valued startups in the region. The startup doesn’t need the money, really, flush with hundreds of millions of dollars of its own — and has tens of millions of people applying for its credit cards.

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WeWork Makes Its Pitch As An Innovation Enabler

The innovation economy requires more than caffeine and collaboration for fuel. A common workspace is fine, but so is mentorship and even splashy awards shows with monetary prizes. That’s the path chosen by WeWork. The space-sharing company, already famous and well-funded for the value it offers to modern, technologically proficient and often geographically separated workforces, keeps making inroads in payments

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Survey Shows Fall In US Consumer Sentiment

Indicating that Americans may have a less favorable view of their own finances, the University of Michigan Survey of Consumers fell to a gauge of 99 for October. The expected reading was 100.4 per a Thompson Reuters survey, Financial Times reported. By contrast, September had a slightly higher reading at 100.1. Even so, FT noted that October’s gauge was still

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Patisserie Valerie Finance Director Arrested Amid Accounting Probe

The chief financial officer of U.K. café chain Patisserie Valerie has been arrested after the company revealed “significant, and potentially fraudulent, accounting irregularities,” according to BBC reports on Friday (Oct. 12). Patisserie Holdings, the owner of Patisserie Valerie, has requested an “immediate injection of capital” after revealing the accounting irregularities. On Friday, the company said Chris Marsh, its finance director,

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JPMorgan Reports Growth In Card Spend, Mobile Users

JPMorgan posted results on Friday (Oct. 12) that beat the Street on headline numbers – top and bottom – based on traction in consumer spending, and also showed growth in its mobile and digital initiatives. The bank is among a trio, including Citigroup and Wells Fargo, that typically kick off earnings season. According to reports, the company said that average

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Amazon Could Be Coming For Brazil’s Pharmacy Market

Following Amazon’s acquisition of PillPack in June, Morgan Stanley Analyst Javier Martinez noted that the eCommerce retailer could take on the drugstore market in Brazil. Such a move could bring competition for Brazil drugstore operator Raia Drogasil SA, which is already planning to open 240 stores, Bloomberg reported. “We argue that investors should start considering potential pharmacy disruption from Amazon,” Martinez

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