In today’s top news, Chinese regulators banned financial institutions (FIs) from providing cryptocurrency services, and Google Chrome has added new features for online shoppers. Plus, Robinhood could make its initial public offering (IPO) filing public next week.
Banking regulators in China have banned FIs, including banks and payments companies, from providing services related to cryptocurrencies, sending shares of bitcoin and other cryptocurrencies into a steep slide.
Among updates Google is planning to add is a new Chrome feature that allows users to keep track of the shopping carts they leave behind on various sites. Users will be able to pick up where they left off in terms of shopping on retail sites, according to the report. The feature will also show users what discounts are available.
Robinhood could reveal its IPO filings as soon as next week, with an eye toward a June debut. Robinhood had previously submitted documents to the Securities and Exchange Commission (SEC), letting the regulator look into what changes could be needed before approval.
J.P. Morgan Chase has appointed Marianne Lake, the firm’s consumer lending chief, and CFO Jennifer Piepszak to run its consumer and community bank operations. The two stand as frontrunners to eventually replace CEO Jamie Dimon.
Consumers have tasted the ease of shopping in a digital-first economy and there is no going back. The Consumers and The New Retail Landscape study surveyed 2,225 U.S. consumers to examine the rise of a retail landscape based on convenience, practicality and digital-first consumer preferences.
Vaccines are gaining ground in the U.S. and abroad. But keeping track of who’s been vaccinated and opening borders fully will take a widespread tech initiative, as Zac Cohen, chief operating officer of Trulioo, tells Karen Webster. And that may take some time.
Macy’s swung to an unexpected profit for Q1, helped along by digital sales, the stimulus package and vaccine rollout. CEO Jeff Gennette said he believes consumers are ready for a post-pandemic shopping lifestyle.