Core Insights - Visa has completed its acquisition of Argentina-based companies Prisma and Newpay, enhancing its capabilities in the region [1][2] - The acquisition is expected to transform Argentina's payments ecosystem by integrating Prisma and Newpay's services with Visa's global network [6][7] Group 1: Acquisition Details - Visa announced on February 19 that it entered into a definitive agreement to acquire Prisma and Newpay, with the transaction closing shortly thereafter [2] - The acquisition is subject to review by the Argentine competition authority, despite being completed [2] Group 2: Company Operations - Prisma provides credit, debit, and prepaid card issuer processing, while Newpay offers real-time payment services, an ATM network, and a bill payment platform [6] - Together, Prisma and Newpay serve millions of consumers and businesses across Argentina [6] Group 3: Technological Advancements - The combination of Prisma and Newpay's technology platforms with Visa's global network will accelerate the deployment of advanced technologies such as tokenization and biometric authentication [7] - These capabilities aim to improve services from issuers and enhance speed and security for consumers [8] Group 4: Ownership and Strategic Transformation - Visa acquired Prisma and Newpay from private equity firm Advent International, which led a strategic transformation of their parent company, Group Prisma [9] - Group Prisma was separated into three independent platforms, with the merchant acquiring business Payway remaining under Advent's ownership [9] Group 5: Market Trends - A report by PYMNTS Intelligence and Galileo Financial Technologies indicates a shift among consumers in Latin America from cash to mobile wallets and digital payment tools [10]

January’s Producer Price Index from the Bureau of Labor Statistics came in hotter than expected. For businesses navigating tariff swings and fragile global supply chains, rising service margins signal that cost pressure is rippling through logistics and distribution channels. As for the read across for consumers, even when commodity prices cool, supply chain volatility can keep prices elevated at the register.By completing this form, you agree to receive marketing communications from PYMNTS and to the shari ...

Image credit: Getty ImagesWall Street’s main indexes dropped on Friday as AI anxiety hammered technology stocks, with the Nasdaq and the S&P 500 on pace for their steepest monthly loss since March 2025, while hotter-than-expected inflation data also weakened sentiment.Technology shares faced selling pressure this month as concerns over high valuations and the uncertain payoff from Big Tech’s massive AI spending grew.Nvidia slid 2.4 per cent after plunging more than 5 per cent in the previous session despit ...

Core Viewpoint - Block announced a significant workforce reduction, cutting nearly half of its employees to integrate artificial intelligence (AI) into its operations [1][2]. Group 1: Workforce Reduction - The layoffs will impact over 4,000 jobs, reducing the workforce from over 10,000 to just under 6,000 [2]. - CEO Jack Dorsey stated that the decision was made to allow the company to grow on its own terms rather than react to market pressures [2]. Group 2: Transition Support - Block will provide affected employees with 20 weeks of salary, one week per year of tenure, equity vested through the end of May, six months of healthcare, corporate devices, and $5,000 for transition assistance [5]. Group 3: Strategic Direction - Dorsey emphasized that the company is focusing on embedding intelligence at the core of its operations, which will fundamentally change how the company builds and runs its business [6]. - The company acknowledges that it over-hired during the COVID-19 pandemic and is now correcting its organizational structure [6]. Group 4: Market Reaction - Following the announcement of the layoffs, Block's shares surged by 17% during Friday morning trading and are up 22% over the past week, although they are down over 2% year to date [9].

Wall Street’s main indexes tumbled on Friday as AI anxiety hammered technology stocks, with the Nasdaq and the S&P 500 on track for their steepest monthly drop since March 2025, while hotter-than-expected inflation data also hit sentiment.Technology shares faced selling pressure this month as concerns over high valuations and the uncertain payoff from Big Tech’s massive AI spending grew.In midday trading, the Dow Jones Industrial Average plunged nearly 500 points, or 1%, to 49,011. The S&P 500 lost 0.6%, an ...

Core Viewpoint - Block's shares increased by 24% following the announcement of plans to lay off nearly half of its workforce, with CEO Jack Dorsey attributing this decision to the transformative impact of AI on business operations [1]. Group 1: Company Actions and Strategy - Block plans to reduce its workforce by almost 50%, indicating a significant restructuring effort [1]. - Dorsey acknowledged that the company had overhired during the COVID-19 pandemic and is now making necessary corrections [3]. - The company is likely automating various internal tasks, which is common in the payments industry, to enhance efficiency [4]. Group 2: Industry Context and Implications - The conversation around AI's impact on jobs is ongoing, with some arguing that new job opportunities will arise, while others express concern over the unprecedented capabilities of AI [5]. - There is a distinction in the market between companies merely managing AI adoption and those that are leading its integration into their business models [6]. - The current market environment reflects uncertainty as many businesses have yet to fully integrate AI into their operations, which could lead to significant shifts in employment and industry dynamics [10][12]. Group 3: Broader Economic Considerations - Historical parallels are drawn to previous industrial revolutions, suggesting that innovation and infrastructure development are crucial for adapting to AI [9]. - Concerns are raised about the potential creation of a "useless class" of individuals who may become unemployable due to technological advancements [10]. - Companies that fail to adapt and protect their core propositions in an AI-enabled world risk becoming obsolete [12].

LONDON--(BUSINESS WIRE)--Paysafe, a leading payments platform, today announced the appointment of four new nonexecutive directors to its Board. ...

Core Insights - Jack Dorsey, CEO of Block, announced significant layoffs, with nearly half of the workforce (4,000 out of 10,000) being let go to streamline operations and enhance growth potential [3] - Dorsey anticipates that other companies will follow suit in workforce restructuring as they adopt more efficient intelligence tools, suggesting a broader trend across industries [4] - The potential impact of these layoffs could lead to widespread job reductions globally, as companies may replicate Block's approach to workforce management [5] Company Summary - Block, valued at $33 billion, is undergoing a major workforce reduction to adapt to a changing business environment and leverage AI for operational efficiency [3] - The CFO of Block emphasized that the job cuts are aimed at positioning the company for long-term growth and faster operations with smaller, skilled teams [3] Industry Implications - Dorsey's comments indicate a shift in the tech industry towards automation and efficiency, which may prompt similar actions from other firms, leading to significant workforce changes across various sectors [4] - The expectation of job losses due to AI and automation raises concerns about the future job market, with ongoing debates about the creation of new roles to replace those being eliminated [6]

The S&P/ASX 200 closed up on Friday (February 27, 2026), gaining 23.30 points, or 0.25%, to 9,198.60, as According to the ASX website, the top-performing stocks in this index were BLOCK, INC. and LYNAS RARE EARTHS LIMITED, up 27.83% and 10.09%, respectively. Over the last five days, the index has gained 1.29% and is currently 0.05% off of its 52-week high.The broader index rose ⁠0.3%, taking its February gain to 3.5%. The benchmark hit three record highs during the month, most recently touching 9,202.90.S& ...

Core Viewpoint - Block announced a significant workforce reduction, cutting over 4,000 employees, which is approximately half of its total workforce, in a move aimed at restructuring for long-term growth [1][2]. Group 1: Workforce Reduction - The company will reduce its employee count from over 10,000 to less than 6,000, resulting in more than 4,000 employees leaving or entering negotiation processes [1]. - This decision aligns with Block's fourth-quarter earnings report, which showed an adjusted earnings per share of $0.65 and revenue of $6.25 billion, meeting analyst expectations [1]. Group 2: Financial Implications - Block anticipates restructuring costs of approximately $450 million to $500 million due to the layoffs, primarily related to severance, employee benefits, and non-cash expenses associated with equity vesting [1]. - The company expects most of these restructuring costs to be incurred in the first quarter [1]. Group 3: Future Outlook - For the upcoming year, Block projects an adjusted earnings per share of $3.66, exceeding analyst expectations of $3.22 [1]. - The CFO stated that the layoffs are intended to establish a solid foundation for the company's next phase of long-term growth [1][2]. Group 4: Industry Context - Other companies, such as Pinterest, CrowdStrike, and Chegg, have also announced layoffs, attributing these changes to the restructuring of workforce dynamics due to AI [2]. - The CEO expressed a belief that many companies will undergo similar structural adjustments in the coming year as they seek greater efficiency through streamlined teams and automation [2].