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Visa plans to cut 7% of workforce, Bloomberg News reports
Reuters18d agoneutral
Visa plans to cut 7% of workforce, Bloomberg News reports

Visa plans to cut 7% of its workforce, or ‌about 2,600 jobs, Bloomberg News reported ‌on Tuesday, citing a staff memo, as the payments ​processor seeks to become more efficient in a challenging industry. AI has ⁠helped cut repetitive tasks and speed up product development, but it ⁠was not the sole factor behind the decision, Bloomberg reported, citing a person ​familiar with ​the company's reasoning. Earlier this year, peer Mastercard announced plans ‌to lay off 4% ​of its global workforce, ​citing the ​need to refocus investments in different ‌areas.

Block (SQ) Stock Could Be 22% Undervalued After Cash App Settlement
Simply Wall St.23d agoneutral
Block (SQ) Stock Could Be 22% Undervalued After Cash App Settlement

Block stock sits at an awkward valuation crossroads, with an intrinsic value estimate from the Excess Returns model pointing to meaningful upside while traditional market multiples paint a more demanding picture and the broader checks lean expensive after a 5 year stretch of weak returns. Block shareholders have seen the stock fall about 70.0% over the past 5 years, which means many investors are still sitting on heavy losses despite the more recent rebound. On the upside, new initiatives...

Bloomberg23d agobearish
Uber Cuts 10% of Customer Service Jobs, Citing ‘Embrace’ of AI

(Bloomberg) -- Uber Technologies Inc. said it has cut 10% of jobs within its customer service operations as part of a broader effort to simplify its ranks and “embrace artificial intelligence.” Most Read from BloombergTrump’s 100% Generic Drug Duty Threatens US Low-Cost SupplyApple Plans Overhaul of MacBooks, iMac in Push to Meet AI DemandHegseth Turns to UNC, Virginia Tech After Dropping Ivy LeagueApple to Launch ‘Upgrade’ Device Leasing Program With Klarna to Spur SalesTrump Extends Pardons to

Jack Dorsey's Block launches Slack rival
TheStreet24d agoneutral
Jack Dorsey's Block launches Slack rival

Block, Inc. (NYSE: XYZ), the Bitcoin (BTC)-centric financial technology company founded by Jack Dorsey, launched a new platform called Buzz on July 21. Built on the Nostr protocol, Buzz is a free, decentralized, and open-source platform where employees and artificial intelligence ...

Block (XYZ) Gets A Real World Test As Square Expands While Undervalued Narrative Holds
Simply Wall St.24d agoneutral
Block (XYZ) Gets A Real World Test As Square Expands While Undervalued Narrative Holds

Honolulu Cookie Company is expanding its use of Block (XYZ) through Square, rolling the platform out across 14 locations and a new flagship store, giving investors another real world view of Block's merchant reach. See our latest analysis for Block. For investors, this Honolulu Cookie Company rollout lands at a time when Block's short term momentum is firm, with a 30 day share price return of 7.49% and a year to date share price return of 23.38%. However, the 5 year total shareholder return...

Investing.com27d agoneutral
Why would Stripe want PayPal?

Investing.com -- Stripe could gain consumer reach, merchant-processing scale and a stronger stablecoin position by acquiring PayPal Holdings Inc. (NASDAQ:PYPL), though analysts at Cantor Fitzgerald, Bernstein and Mizuho questioned whether the reported $60.50-per-share offer would secure a deal.

3 Unprofitable Stocks with Questionable Fundamentals
StockStory29d agoneutral
3 Unprofitable Stocks with Questionable Fundamentals

Unprofitable companies can burn through cash quickly, leaving investors exposed if they fail to turn things around. Without a clear path to profitability, these businesses risk running out of capital or relying on dilutive fundraising.