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☆ Klarna to debut $7.99 monthly plan as buy now, pay later firm seeks new revenue sources ahead of IPO
▼ + stars: | 2024-01-24 | by ( Hugh Son | ) www.cnbc.com time to read: +1 min

Swedish fintech firm Klarna is launching a monthly subscription plan in the U.S. to lock in its heaviest users ahead of an expected initial public offering this year, the company told CNBC. Buy now, pay later services such as Klarna and Affirm have surged in popularity in recent years as more Americans rely on a new, fintech-enabled form of credit. When Klarna users shop outside the firm's network of 500,000 retailers — at places such as Walmart, Target, Amazon and Costco — they pay $1 to $2 in transaction fees. "The main proposition of Klarna Plus right now is that you don't pay any service fees," Sandstrom said. "So if you love Klarna and if you love shopping at Target and Walmart, it makes a ton of sense financially."

Persons: David Sandstrom, Sandstrom Organizations: Swedish, CNBC, Nike, Instacart, Walmart, Target, Costco Locations: U.S, Stockholm

☆ Ericsson warns of 2024 market decline despite Q4 earnings beat
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: +2 min

Ericsson said it expects further decline in 5G gear demand from mobile operators this year after beating fourth-quarter operating profit expectations on Tuesday helped by software sales. Telecoms equipment suppliers are expecting a challenging 2024 as 5G equipment sales - a key source of revenue - are slowing in North America, while India, a growth market, may also see a slowdown. That was mostly due to higher-margin software sales and lower sales of 5G equipment to lower-margin countries such as India. Ericsson said it would get a boost in the second half of the year from a $14 billion telecom deal with AT&T that it won over rival Nokia. The company on Tuesday also appointed Lars Sandstrom as chief financial officer, replacing long-time company veteran Carl Mellander.

Persons: Carl Mellander, Mellander, Börje Ekholm, Ericsson, Lars Sandstrom Organizations: Ericsson, Nokia, RAN, Radio Locations: North America, India, China

☆ Joe Pavelski scores overtime winner as Stars top Flyers
▼ + stars: | 2023-10-22 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

October 22 - Stars captain Joe Pavelski scored 2:13 into overtime as host Dallas beat the Philadelphia Flyers 5-4 on Saturday night. Dallas took an early 2-0 lead, only for Philadelphia to erase it by the end of the first period. Though the Stars restored their two-goal lead at 4-2, Travis Konecny and Scott Walker each scored to tie the score late in the final frame. Travis Konecny tied the score at 2-2 with a short-handed breakaway goal, his team-leading fourth of the season. The Stars restored their lead after Hintz scored off Jason Robertson's drop pass, but the Flyers never looked out of the game.

Persons: Joe Pavelski, Travis Konecny, Scott Walker, John Tortorella, Carter Hart, Samuel Ersson, Felix Sandstrom, Wyatt Johnston, Johnston, Tyler Seguin, Travis Sanheim, Seguin, Joel Farabee, Hintz, Jason Robertson's, Jamie Benn, Walker, Pavelski Organizations: Dallas, Philadelphia Flyers, Flyers, Thomson Locations: Philadelphia

☆ Klarna takes aim at Google and Amazon with AI image recognition tool for shopping
▼ + stars: | 2023-10-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

It's similar to how Google Lens directs users to suggestions based on items captured by their camera. The tool is trained on data from PriceRunner, a price comparison service Klarna acquired for close to $1 billion. PriceRunner competes with the likes of Amazon , Google's shopping comparison service Google Shopping, and French-founded firm Kelkoo. Klarna users will be able to point their phone at an item of clothing or gadget and find recommendations on similar products directly within the Klarna app. Still, regulators, not least the European Union, have become wary about the rapid advancement of generative AI technology, which generates new material in response to human inputs.

Persons: Rafael Henrique, David Sandstrom, Klarna Sandstrom, Klarna, Sandstrom Organizations: Getty, Google, CNBC, Microsoft, European Union Locations: Swedish, PriceRunner, French, Stockholm, Europe, China, Silicon Valley

Many start-up companies like Klarna are adding AI to their product portfolio to boost valuations as they wait for their turn to hit the public markets through an initial public offering. To prevent any privacy issues, Klarna's AI does not allow images of people's faces or bodies to appear, he said. Google's (GOOGL.O) Lens tool also has search features that allow the mixing of photos and text in searches. The shopping lens is available to consumers in the U.S., UK, Germany, Sweden, Denmark and Norway, Klarna said. Klarna, once Europe's most valuable startup, allows shoppers to buy online through its merchant partners and pay in installments using its "buy now, pay later" service.

Persons: David Sandström, Sandström, Klarna, Supantha Mukherjee, Jane Merriman Organizations: Google, Thomson Locations: STOCKHOLM, U.S, Germany, Sweden, Denmark, Norway, Stockholm

☆ Buy now, pay later firm Klarna cuts losses in first half but falls short of profit
▼ + stars: | 2023-08-31 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Swedish buy now, pay later firm Klarna reduced its losses by roughly 67% in the first half of 2023, as the company dramatically cut costs in a bid toward profitability. The company reported overall net operating income of 9.2 billion Swedish krona ($843.5 million), up 21% year-over-year. Failing to record a half-year profit, the firm posted a net loss of 2.1 billion Swedish krona for the period, down 67% from 6.4 billion krona between January to June 2022. Credit losses, a measure of how much the company sets aside for customer defaults, sank by 39% to 1.8 billion krona from 2.9 billion. Buy now, pay later, or BNPL, firms allow shoppers to defer payments to a later date or purchase things over installments on interest-free credit.

Persons: Klarna, Sebastian Siemiatkowski, Siemiatkowski, —, OpenAI's, David Sandstrom Organizations: CNBC, PayPal Locations: Helsinki, Finland

☆ Fintech firm Klarna overhauls its app with a TikTok-like discovery feed as A.I. hype swirls
▼ + stars: | 2023-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

According to David Sandstrom, Klarna's chief marketing officer, the firm took inspiration from Chinese tech platforms, which he said have mastered the art of algorithm driven-shopping. The Klarna app has been redesigned to tailor product recommendations to users based on their shopping habits using artificial intelligence. Klarna and other buy now, pay later products proved popular during the onset of the Covid-19 pandemic. Meanwhile, buy now, pay later has come under scrutiny from regulators because of fears that it is pushing some consumers, particularly younger people, into arrears. In the U.K., the government has proposed new rules aimed at adding some friction to the process of applying for a buy now, pay later loan.

☆ NHL roundup: Connor McDavid hits 150 points in Oilers' win
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +12 min

Tomas Hertl scored, and James Reimer made 29 saves for the Sharks, who have lost seven straight against the Oilers. McDavid notched his 150th point when he scored with 1:44 left in the opening period for a 2-1 lead. Jesper Bratt scored the lone goal and MacKenzie Blackwood made 38 stops for the Devils, who had won back-to-back games. Avalanche 4, Kings 3Denis Malgin scored two goals for visiting Colorado in a win against Los Angeles. Alex Nylander, Danton Heinen and Evgeni Malkin each scored a goal and Tristan Jarry made 19 saves for the Penguins.

☆ NHL roundup: Carter Verhaeghe nets career-best 4 goals in Panthers' win
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +9 min

Sabers 6, Flyers 3Alex Tuch scored his second career hat trick to help Buffalo to a win against host Philadelphia. Morgan Frost scored twice and Felix Sandstrom made 23 saves for the Flyers, who had their seven-game point streak snapped. Avalanche 5, Stars 2Nathan MacKinnon had two goals, Mikko Rantanen had a goal and three assists, and host Colorado beat Dallas. Ben Hutton, Zach Whitecloud and Brett Howden also notched goals for Vegas, which is 5-1-1 in its past seven games. J.J. Moser and Milos Kelemen scored for the Coyotes (27-37-13, 67 points), who have dropped seven straight games (0-5-2).

☆ NHL roundup: Bruins clinch league's best record
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +7 min

Pastrnak took Hampus Lindholm's feed into the offensive zone and finished with the backhand for his 53rd goal of the season. Tyler Bertuzzi scored the lone Bruins goal of regulation, tying the game in the second period. Mario Ferraro had a goal and an assist and Oskar Lindblom and Tomas Hertl also scored for San Jose. Defenseman Henry Thrun, making his NHL debut after starring at Harvard, added two assists, and James Reimer finished with 23 saves. Blues 5, Blackhawks 3Brandon Saad scored one goal and set up another as St. Louis handed host Chicago its seventh straight loss.

☆ Edgy Campaigns Are Out, TikTok Won’t Stop and Other 2023 Predictions for Marketers
▼ + stars: | 2022-12-19 | by ( Patrick Coffee | ) www.wsj.com time to read: +11 min

Newsletter Sign-up WSJ | CMO Today CMO Today delivers the most important news of the day for media and marketing professionals. Most campaigns will focus on discounts to customers or showcase the usefulness of a company’s products, he said. Under this form of marketing, ad firms generally get paid upon completion of a desired end, such as a sale or download. In short, consumers should expect less “vacuous virtue-signaling” from marketers in the coming months, according to Mr. Proulx. But these platforms’ very struggles could result in ad bargains for marketers, said Mr. Solomon of Therabody.

☆ NHL roundup: Surging Jets tie it late, sink Kraken in OT
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +5 min

With Winnipeg goalie David Rittich pulled for the extra skater, Blake Wheeler scored his 300th career NHL goal on the power play to tie the score with 5.2 seconds left. Jordan Eberle and Brandon Tanev scored for Seattle, which is 5-1-1 in its past seven games. The Kraken took a 2-1 lead on Tanev's goal at 7:02 of the third. Bruins 5, Canucks 2Five different players scored goals and defenseman Hampus Lindholm assisted on three as Boston downed visiting Vancouver for its fourth straight win. Travis Konecny scored the lone goal for the Flyers, who went 0-for-6 on the power play en route to losing their third straight game.

☆ NHL roundup: Devils top Flames, run win streak to 7 games
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +6 min

The Devils have won seven straight -- their longest winning streak since winning eight straight from Feb. 6-22, 2011. Golden Knights 4, Maple Leafs 3 (OT)Reilly Smith scored his second goal of the game 23 seconds into overtime and visiting Vegas defeated Toronto. Oilers left winger Evander Kane was stable and transported to a local hospital for a procedure following a serious left wrist laceration in the second period. After Jason Robertson gave Dallas a 1-0 lead at 3:06 of the second period, Winnipeg scored four straight goals in the frame. Dallas, which had outscored its opponents 18-6 during a three-game winning streak entering play Tuesday, seemed shellshocked following the results of the second period.

☆ NHL roundup: James Reimer records shutout as Sharks blank Flyers
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +3 min

Oct 23, 2022; Philadelphia, Pennsylvania, USA; San Jose Sharks goalie James Reimer (47) clears the puck against the Philadelphia Flyers in the first period at Wells Fargo Center. Mandatory Credit: Kyle Ross-USA TODAY SportsOctober 24 - James Reimer made 30 saves for his 26th career shutout, while Erik Karlsson and Steven Lorentz scored second-period goals, as the visiting San Jose Sharks beat the Philadelphia Flyers 3-0 Sunday night. Meanwhile, the Sharks -- who won for just the second time in eight games this season and split a four-game East Coast trip -- broke through while owning a 12-5 shot advantage during the second period. Alex Stalock made 30 saves. Blue Jackets 5, Rangers 1Daniil Tarasov made 30 saves for his first NHL victory as visiting Columbus defeated New York.

☆ NHL roundup: Blues claw past Kraken in OT
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

Oct 19, 2022; Seattle, Washington, USA; St. Louis Blues defenseman Justin Faulk (72) celebrates his goal with forward Robert Thomas (18) and forward Vladimir Tarasenko (91) during overtime against Seattle Kraken at Climate Pledge Arena. Mandatory Credit: Stephen Brashear-USA TODAY SportsOctober 20 - Justin Faulk scored twice, including the winner 2:10 into overtime, as the St. Louis Blues defeated the host Seattle Kraken 4-3 on Wednesday night. Brayden Schenn tallied a goal and assist, Jordan Kyrou also scored and Vladimir Tarasenko had three assists for the Blues, who improved to 2-0-0. Will Borgen, Ryan Donato and Adam Larsson scored for Seattle, which went 0-2-1 on its first homestand of the season. 4 overall pick in this year's draft, got his first NHL point with an assist.

☆ Legal problems galore await Trump now that he's lost reelection — and, soon, his presidential immunity
▼ + stars: | 2020-11-06 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +14 min

"What the Biden Justice Department will do is let the Justice Department be the Department of Justice," Biden said during an ABC News forum when asked what he'd do about the evidence accumulated during the Mueller investigation. Paul Hennessy/SOPA Images/LightRocket via Getty ImagesAccusations of campaign-finance violationsThe most notable Trump campaign money drama of the moment is a doozy. It involves a complaint filed this summer by the nonpartisan Campaign Legal Center that alleges the Trump campaign "disguised" nearly $170 million worth of campaign spending "by laundering the funds" through companies led by Brad Parscale, his former campaign manager, or created by Trump campaign lawyers. The Trump campaign has denied wrongdoing. They include accusations of illegal solicitation of a foreign national by Donald Trump Jr. and failure to publicly disclose campaign debts stemming from municipal police bills the Trump campaign refuses to pay.

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