American payments company, online money transfers, spun off from eBay in 2015
Major tech firms have announced widespread workforce reductions while reporting record AI spending and rising head counts at heavy AI adopters. Oracle, Microsoft, Meta and others have cut roles and cited AI-driven change even as studies from Ramp/Revelio, SignalFire and Draup show engineering hires and entry-level roles growing at AI‑intensive firms and job listings shifting toward judgment and AI-tool fluency.
Microsoft has announced 4,800 job cuts, about 2.1% of its workforce, with Xbox accounting for roughly 3,200 reductions across fiscal 2027 and 1,600 roles eliminated immediately. Xbox will spin out or divest five studios, flatten management and refocus on major franchises as the company shifts resources toward AI and margin improvement.
UK regulators are expanding Buy Now, Pay Later oversight. From July 15, BNPL providers must be authorised by the FCA, undergo affordability checks, and offer clearer information and complaint routes. The changes aim to protect consumers while preserving access to flexible payments.
Stripe and Advent are pressing forward with a potential bid to jointly acquire PayPal, valuing the payments giant around $53-60 billion and backed by roughly $50 billion in bank financing. PayPal has not yet responded as discussions continue, with experts noting the deal would create a dominant dual-powered payments group.
Ariana Grande has filed a lawsuit in Los Angeles to identify John Does who hacked collaborators’ accounts, leaking 45 unreleased songs in 2023 and claiming ongoing theft and disruption to her career.
Preorder promotions for Samsung’s Galaxy Z Fold 8, Z Fold 8 Ultra, and Z Flip 8 are flooding the market. Deals include trade-ins, carrier credits, and Amazon gift cards, with official release set for August 7, 2026 and deliveries starting mid-August as stock rolls out.
JPMorgan has restructured its AI leadership, retiring its AI chief and aligning the chief data and analytics office with Global Technology. The changes aim to integrate AI delivery into business units and sustain momentum in AI initiatives, as the bank emphasizes governance and external engagement.
The Federal Trade Commission has secured a $2.5 billion settlement with Amazon over unlawful Prime enrollments and hard-to-cancel policies. Eligible U.S. customers may receive up to $51 per claim, with payments expected by September 2026. Amazon must tighten enrollment and cancellation disclosures and stop challenged enrollment practices.
X Money has launched for US Premium and Premium+ subscribers, offering 6% APY on deposits and 3% cashback. Real-time transfers within X and an X-branded Visa card are available, but several markets lack money transmitter licenses and transfers face limitations, prompting questions about adoption as the broader payments ecosystem evolves.
Uber reports that AI costs per token have declined while adoption climbs, signaling efficiency gains amid ongoing enterprise AI investments. CFO says costs are stabilizing as engineering productivity improves; CTO notes a shift from token maximization to efficient usage. Other tech firms eye AI-driven cost controls and new app strategies.
Universities UK and sector leaders warn that a levy on international student fees, combined with fee freezes, is intensifying financial pressure on UK higher education. Visa declines and course cuts threaten jobs and offerings even as demand from UK students remains strong.
Walmart has announced it will start accepting tap‑to‑pay, including Apple Pay and Google Pay, at select Walmart and Sam’s Club locations from August 24, 2026, and will roll the feature out to all U.S. stores and clubs by the end of 2026; fuel stations will be upgraded by mid‑2027. The company says the move gives customers more choice at checkout.
OpenAI, Stripe, and Synchrony are pushing toward in-chat purchases, with merchants testing AI-enabled checkout within chat tools. The move faces consumer trust and economics hurdles before in-chat buying becomes mainstream.
Lego has reported a 21% rise in revenue for the first half of 2026, reaching 41.9 billion Danish kroner, with profits up and a broad product line expanding among adults and kids. The company is investing in sustainability, renewable energy, and packaging changes while expanding in the U.S. with new facilities.
Castellanos has committed to Texas Tech after Brendan Sorsby’s gambling-related exit. Will Hammond is slated as the starter; Castellanos could back him up as Tech opens against Abilene Christian. Castellanos has thrown for 6,449 yards and 48 TDs in 38 college games.
Pope Leo XIV has criticised AI-generated art and called for an alliance between the Church and cultural institutions to protect "what is human." During a visit to France he has warned that algorithms lack the "spark of humanity," repeated concerns about misinformation and dignity, and continued the Vatican's push for stronger ethical limits on AI.
Meta has integrated its Muse AI assistant more deeply into glasses and wearables, unveiling new features at Connect 2026. The company is pushing Muse across hardware, including AI glasses, VR glasses, and a new Charm device, as it aims to embed AI into daily life while expanding hardware partnerships and services.
Authorities have dismantled a cross-border Hamas financing network that moved over $2 million through charity fronts and cryptocurrency channels. Indictments and arrests have been issued in the United States and Europe, linking individuals to the group’s financial operations. The actions follow a 2023 attack and a continuing Gaza conflict.