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Elon Musk, Apple's Cook and Boeing CEO going to China with Trump, official says
Reuters96d agoneutral
Elon Musk, Apple's Cook and Boeing CEO going to China with Trump, official says

Elon Musk, Apple's Tim Cook, GE Aerospace's Larry Culp and ‌Boeing's Kelly Ortberg will join U.S. President Donald Trump on his visit ‌to China this week, a White House official told Reuters. Others taking part include Meta's Dina ​Powell McCormick, Blackrock's Larry Fink, Blackstone's Stephen Schwarzman, Cisco's Chuck Robbins, Micron's Sanjay Mehrota, Mastercard'ss Michael Miebach, Qualcomm's Christiano Amon and Visa's Ryan McInerney, the official said.

Block raises annual gross profit outlook on consumer spending strength
Reuters100d agoneutral
Block raises annual gross profit outlook on consumer spending strength

Jack Dorsey-led Block raised its full-year outlook on Thursday as the payments firm benefited from resilient ‌consumer spending and strong growth in its core businesses. The ‌Oakland, California-based company now expects annual gross profit to be $12.33 billion in 2026, compared ​with its previous forecast of $12.20 billion. U.S. consumer spending remained broadly resilient ‌in the first three ⁠months of 2026, underpinned by a stable labor market and wage growth.

Reuters101d agoneutral
Chime banks on resilient consumer spending to post maiden quarterly bottom line

Chime posted its first-ever quarterly profit on Wednesday, as resilient consumer spending in the first three months ‌of the year lifted demand for the financial technology firm's digital banking products. Consumer ‌spending remained resilient in the first quarter as individuals and businesses maintained spending trends and supported the payments sector, ​despite broader macroeconomic volatility linked to the war in the Middle East. Payments processing company Visa also reported a rise in quarterly profit last week, helped by the spending trends.

PayPal, Visa, Mastercard Probed by UK Regulators
The Wall Street Journal101d agobearish
PayPal, Visa, Mastercard Probed by UK Regulators

PayPal Holdings, Visa and Mastercard are under investigation by U.K. authorities for anticompetitive conduct related to PayPal's digital wallet. The Financial Conduct Authority, the finance regulator in the U.K., said Wednesday that it "has reached no conclusions nor made any findings" that competition law had been broken. Shares in Visa and Mastercard fell 1% and 1.4%, respectively, while PayPal shares were down about 0.33% as the broader market surged.

Anthropic deepens finance push as CEO Amodei warns of software disruption
Reuters102d agoneutral
Anthropic deepens finance push as CEO Amodei warns of software disruption

Artificial-intelligence lab Anthropic is diving deeper into the financial services industry, releasing tools on Tuesday that can speed up myriad tasks for banks and insurers while CEO ‌Dario Amodei predicted further software disruption. Hardly a year into unveiling ambitions to tailor AI for finance, Anthropic has rapidly expanded its business, with adoption by Goldman Sachs, Visa, Citi, AIG and others. Speaking from the stage at the ⁠packed event, Amodei said Anthropic's revenue in the first quarter had grown "80x" on an annualized basis.

PayPal Tumbles 10% Despite Q1 Earnings Beat: Is the Venmo Spin-off Enough to Save the Stock?
24/7 Wall St.102d agobearish
PayPal Tumbles 10% Despite Q1 Earnings Beat: Is the Venmo Spin-off Enough to Save the Stock?

PayPal Holdings (NASDAQ:PYPL) shares are tumbling roughly 10% in early trading Tuesday morning to about $45.50, after the company reported a Q1 2026 earnings beat alongside a soft Q2 outlook. The stock closed Monday at $50.39 before the report. The slide extends an already painful run. PYPL stock entered the earnings report down 13% year ... PayPal Tumbles 10% Despite Q1 Earnings Beat: Is the Venmo Spin-off Enough to Save the Stock?

How Visa Keeps Silencing Its Doubters
The Wall Street Journal103d agoneutral
How Visa Keeps Silencing Its Doubters

Every few years, investors start to fret that payments giant Visa is finally going to be disrupted. The latest candidate for disruption is, naturally, artificial intelligence. The new fear is that agentic commerce, featuring AI agents doing consumers’ shopping for them, will displace people tapping, swiping or clicking with their credit or debit cards.