As the mobile wallet market grows in profitability, however, competition is also heating up. Go-Pay’s largest rival, Ovo, is backed by Singapore-based tech company Grab and is one of the largest players in Indonesia’s digital payment market. State-owned enterprises have also recently collaborated to launch the mobile payment service, LinkAja. Haryopratomo said he was “excited”
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Growing trade tensions between the U.S. and China, coupled with nagging concerns about the Chinese economy have rattled confidence in some of the industry’s key players. Soft iPhone sales, along with a deceleration in cryptocurrency mining ventures, further fed investor anxiety surrounding weakened demand. Looking ahead, Credit Suisse’s Nigam said investors should focus on supply-side
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Levi Strauss priced its initial public offering at $17 per share, the company announced late Wednesday. That number comes in higher than the expected range, valuing the iconic denim company at about $6.6 billion and bringing its total raise to about $623 million. The company was expected to price its offering of about 36.7 million
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Have tech companies gotten so big that it’s bad for the economy? Senator Elizabeth Warren says so. She’s proposing to break up not one, but several tech giants, including Amazon, Apple, Facebook and Google. She says they shouldn’t be allowed to both run distributor platforms and compete on them. It’s like being an umpire and
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For many high school seniors, financial aid is the only thing that makes college attainable. However, to tap into that aid, students must first file a Free Application for Federal Student Aid, which serves as the gateway to all federal money, including loans, work-study and grants. For the 2019-2020 school year, the FAFSA filing season
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Millenials make up 25 percent of Norwegian Cruise Line‘s bookings and the company is putting more accommodations on board its ships to attract the fastest-growing customer base, CEO Frank Del Rio told CNBC Tuesday. “We are now building ships with the understanding that Instagram is something to deal with,” he said in an interview with
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Check out the companies making headlines after the bell: Shares of FedEx fell more than 5 percent in extended trading Tuesday following the release of the logistic company’s disappointing third-quarter earnings and weak full year outlook. FedEx posted earnings per share of $3.03 on revenue of $17.01 billion. Wall Street estimated earnings per share of
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FedEx reported weaker-than-expected third-quarter earnings and revenue after the closing bell on Tuesday, and cut its full-year guidance. Shares fell more than 4 percent in after-hours trading. Despite a strong U.S. economy, FedEx said its international business weakened during the second quarter, especially in Europe. FedEx Express international was down due primarily to higher growth
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The company said it expects fiscal fourth-quarter earnings per share between $4.58 and $5.38, compared to the estimated $5.39. “Slowing international macroeconomic conditions and weaker global trade growth trends continue, as seen in the year-over-year decline in our FedEx Express international revenue,” said Alan B. Graf Jr., FedEx executive vice president and chief financial officer.
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