United Kingdom-based InterContinental Hotels Group PLC says customers now can use China-issued bankcards to make online reservations and payments. The hotel company has signed a deal with ChinaPay E-Payment Service Co. Ltd., a subsidiary of China UnionPay, to provide the service. InterContinental says it is the "only international hotel group in China" to offer this service, according to a statement. Previously, InterContinental accepted only internationally branded credit cards for online reservations, and guests had to make all payments during checkout. The new service "allows [the group] to reach out to nearly 1.5 billion holders of locally issued bankcards across China," the statement says.
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Affirm CEO Max Levchin said that the company did not have any plans for AI-spurred layoffs despite the fact that it was using the technology more for software engineering.
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Leaders from Wells Fargo, JPMorganChase and more talked about how banks can respond to the fast-moving changes in money movement, new forms of artificial intelligence, fraud, digital assets and more.
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The payments company posted strong adjusted earnings following a dramatic downsizing, which management attributed to the influence of artificial intelligence.
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The Securities and Exchange Commission initially offered $179.5 million to Michael Bacon, who provided key information to the government about Wells Fargo's fake-accounts scandal. But shortly after SEC Commissioner Paul Atkins took office, the amount was sharply reduced.
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Bankers and tech executives at SAS' annual conference said agentic AI is still in the "terrible twos" stage and requires human supervision.
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Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.
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