Technology

As COVID-19 Continues to Fuel E-commerce, Buy Now, Pay Later Programs Evolve

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According to CB Insights, there are 67 fintech unicorns with a combined valuation of $252.6 billion. And notably, standouts from this list include “buy now, pay later” companies who, as e-commerce continues to rise during the coronavirus pandemic, have experienced exponential sales.

In May, PayPal reported having 325 million active accounts, having gained 7.5 million new accounts in April alone. And in June, the company announced it has expanded its buy now, pay later solutions to France making it one of the first payment installment solutions for small businesses in France. According to data from PayPal, 84 percent of French consumers are more likely to shop again at a retailer that offers installments.

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Splitit also achieved record growth during the pandemic, achieving increased conversion and average order value as online shopping rates soared. On July 8, the company announced it

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International students denied U.S. entry under new visa rules

By Ted Hesson

WASHINGTON (Reuters) – International students have already been denied entry to the United States under new Trump administration rules that bar them from the country if their schools hold all classes online amid the coronavirus pandemic, according to a court document filed on Sunday.

The “friend of the court” brief, written by dozens of universities and colleges, was filed in support of a lawsuit brought by Harvard University and the Massachusetts Institute of Technology (MIT) seeking to block immigration rules issued on July 6 that blindsided academic institutions across the country.

The brief said U.S. immigration authorities were “already preventing returning students from re-entering the country” and cited the case of a DePaul University student returning from South Korea who was denied at San Francisco International Airport.

DePaul declined to make the student available for an interview. A U.S. Customs and Border Protection spokesman did not comment

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The San Francisco tech CEO who was filmed in a racist rant against an Asian-American family has resigned

The Bernardus Garden at Bernardus Lodge & Spa on October 02, 2019 in Carmel Valley, California.
The Bernardus Garden at Bernardus Lodge & Spa on October 02, 2019 in Carmel Valley, California.

Rich Fury/Getty Images for Mercedes-Benz and Glamour

  • The tech CEO who was filmed berating an Asian family with racist remarks has resigned, per a report in the San Francisco Chronicle.

  • The move comes after the executive, Michael Lofthouse of Solid8, was filmed saying “Trump gonna f— you” and “you f—— Asian piece of s—” in a video that has since gone viral.

  • According to Solid8’s Linkedin profile, the company employs 2 to 10 people, and its primary address is listed at 650 California Street in San Francisco, an address also listed as a WeWork space.

  • Many have confused Lofthouse’s firm with a UK based consulting company of the same name. The managing director of Solid8 Consulting told Business Insider in a statement that her company is “being incorrectly attacked for racism and hatred.”

  • Visit

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States sue Trump administration over college student visa rule

WASHINGTON – Seventeen states and the District of Columbia sued President Donald Trump’s administration Monday to block a new rule that would force international college students to leave United States if they’re only enrolled in online classes this fall.

Some universities are planning to offer classes entirely online because of concerns about the pandemic. The new rule could be devastating for students and universities alike. 

The lawsuit, filed by 18 attorneys general against the Department of Homeland Security, calls the new rule a “cruel, abrupt and unlawful action to expel international students amidst the pandemic that has wrought death and disruption across the United States.”

The Trump administration issued the new immigration policy last week, as it seeks to force universities and K-12 schools to reopen in the fall despite soaring COVID-19 infections across the country. The lawsuit highlights a July 6 tweet from President Trump declaring: “SCHOOLS MUST OPEN

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Americans struggle with unemployment delays

For Cocoa, Florida, residents Christine Powell and her fiance, Robert Hammond, the relentless downward economic drag of the past six months has been suffocating.

First, Hammond was put on medical leave in December after he broke his hand. Then, as the 49-year-old landscaper was about to return to his job, the pandemic hit. Hammond applied for unemployment insurance, but he hasn’t received a dime, he said, and no one will answer his or Powell’s repeated calls to Florida’s Department of Economic Opportunity.

“I felt hopeless,” said Powell, 30, a mother of two who works as a supportive living coach at a behavioral health agency. She, too, suffered a wage cut since the start of the pandemic. Her hours were reduced to just 10 per week, and her income keeps her barely above the threshold to qualify for unemployment.

Without enough money to pay their bills, Powell and Hammond had to

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More than 200 schools back lawsuit over foreign student rule

BOSTON (AP) — More than 200 universities are backing a legal challenge to the Trump administration’s new restrictions on international students, arguing that the policy jeopardizes students’ safety and forces schools to reconsider fall plans they have spent months preparing.

The schools have signed court briefs supporting Harvard University and the Massachusetts Institute of Technology as they sue U.S. Immigration and Customs Enforcement in federal court in Boston. The lawsuit challenges a recently announced directive saying international students cannot stay in the U.S. if they take all their classes online this fall.

A wide range of colleges and state and local officials are standing up to the policy, which faces mounting legal opposition. Massachusetts filed a federal suit Monday that was joined by Democratic attorneys general in 16 other states and the District of Columbia. Other suits have come from Johns Hopkins University and the state of California. The University

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5 Business Services Stocks to Buy While Pandemic Continues

Wall Street has been reeling under volatility since mid-June, following the second wave of coronavirus in more than 20 U.S. states. New cases of COVID-19 jumped as all 50 states started reopening after nearly two months of lockdowns. The resurgence of the deadly virus has raised several questions about the much-hyped, V-shaped recovery of the U.S. economy.

Despite the resurgence of coronavirus, several business service stocks have skyrocketed in the past three months. A handful of them carries a favorable Zacks Rank.

Sector Looks Promising

The business services sector comprises consulting, staffing, financial tractions, outsourcing, advertising, waste removal, building maintenance, technology services and auction/valuation services industries. This sector benefited from a higher demand for expertise to improve operational efficiency and reduce costs.

U.S.states eased restrictions and started to open up their economies in the last week of May. This favored the sector following nearly two months of lockdowns. Although, some

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Elon Musk’s net worth just hit $70.5 billion, surpassing Warren Buffett’s. Here’s how the billionaire Tesla and SpaceX CEO went from getting bullied as a child to becoming one of the most successful and controversial men in tech.

Elon Musk.
Elon Musk.

Steve Nesius/Reuters

  • Elon Musk has had a tumultuous yet successful life. 

  • He was bullied as a child but ultimately attended an Ivy League university, going on to become the CEO of two companies, Tesla and SpaceX, and the founder of three more.

  • He’s also been married three times and has triplets and twins. He just had another baby with his girlfriend, the musician Grimes. 

  • But Musk also courts controversy, especially on Twitter. The tech billionaire has been outspoken about the coronavirus crisis, questioning the severity of the outbreak and urging for business to resume.

  • Now, Musk has hit a new milestone: as Tesla’s stock hit an all-time high, Musk’s wealth surged to $70.5 billion.

  • Visit Business Insider’s homepage for more stories.

It seems like there’s nothing Elon Musk can’t do. 

As CEO of SpaceX and Tesla, founder of The Boring Company, and cofounder of OpenAI and Neuralink, Musk

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Zoom Communications, Fortinet, Anaplan, Twilio and SAP

For Immediate Release

Chicago, IL – July 13, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Zoom Communications ZM, Fortinet FTNT, Anaplan PLAN, Twilio TWLO and SAP SAP.

Here are highlights from Friday’s Analyst Blog:

Millennials’ Investment View Changes: 5 Tech Stocks to Buy

The coronavirus pandemic, which has been wreaking havoc economically, has emerged as an unlikely silver lining to the millenials or Gen Y — a generation that roughly comprises adults whose birth years range between 1981 and 1996 — by compelling them to bring about positive changes to their finances.

COVID-19 induced falling GDP and rising unemployment level are persuading this demographic cohort to become more calculative and conservative in spending. This demographic that has been

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Paris (Digital) Fashion Week: Kolor’s Junichi Abe

Photo credit: Kolor
Photo credit: Kolor

From Esquire

The coronavirus has come for Fashion Week, but Fashion Week is unbowed. With the 2020 edition of show season going all-digital, the key designers talk us through how they’ve adapted to showing clothes in a world where showing clothes is (almost) impossible.

What’s been the biggest challenge with producing a lockdown fashion ‘show’?

For this unusual season, we are using a special camera system to present a video. Even though I was not the one actually making it, this kind of production was the biggest challenge for us during lockdown.

What’s been the biggest opportunity?

We needed to show our collection in an unusual way and a video for Paris Fashion Week was exactly that. Being able to create new projects – and create something we’ve never done before – became our biggest opportunity.

What non-fashion skills have you picked up during lockdown?

Since the

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