Business Newser

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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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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Shares in Inmarsat Plc jumped 17 percent on Wednesday after the British satellite operator said it was in talks about a $3.3 billion cash offer from a private equity-led consortium, opening up the possibility of a bidding war. The consortium, which initially included UK-based Apax Partners, U.S.-based Warburg Pincus and Canada Pension Plan Investment Board
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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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