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As inflation increases, more companies are shifting to remote and hybrid work to get their costs under control. Landlords could face rising vacancies and tumbling revenue, leaving them behind on loan payments.

A few months after cutting ties with its Diem stablecoin project, the company formerly known as Facebook is testing a virtual world marketplace.

Credit Suisse Group is looking for a new chief executive officer to run its U.S. holding company as the Swiss bank seeks to build out its business in the country following a series of setbacks.

In global news this week, Mastercard doubling headcount in Dublin; Ebanx in Brazil adds a cross-border option for merchants; NAB filters offensive content from mobile payments; and more.

The state's Treasurer's office is urging lenders to make loans to cover the steep costs of adoption. Participating credit unions get an extra incentive by being permitted to accept deposits from public institutions — a perk typically enjoyed only by banks.

The crypto payments startup Circle Internet Financial said it’s closer to submitting an application to operate as a bank in the U.S., pushing forward with a months-old plan even as regulators make it more difficult for crypto companies to secure this kind of license.

The Dutch lender said its predecessor, Hope & Co., played a “pivotal role” in the international slave trade of the 18th century and was actively involved in the day-to-day business of plantations.

Banks have supported initiatives aimed at closing the racial equality gap but the industry risks undermining this by fighting new rules to gather demographic data on small-business lending.

The loss was driven by “funding spread widening as well as credit-valuation adjustments relating to both increases in commodities exposures and markdowns of derivatives receivables from Russia-associated counterparties,” the company said. 

Bread Financial — formerly Alliance Data — offers its first general-purpose Amex credit card to expand consumer finance options following a couple of tumultuous years.