PYMNTS Am Radar: weakest link; Unexpected pinches

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Today is Tuesday, July 5, and on this day in 1946 – the first war-free summer since the end of World War II in September 1945 – the bikini burst onto the summer fashion scene in Paris. . The two-piece swimsuit didn’t overcome America’s prudish ways until the early 1960s, but it eventually helped propel the global swimwear market.

There have been 12 recessions since the end of World War II and they have all had a few common denominators: a drop in output associated with rising unemployment and a drop in monthly corporate payrolls. With history as a guide, forces do not align for a recession in the forecast ahead.

The United States has had 11 million unfilled jobs in six of the past seven months, four million more monthly openings than before the pandemic. But oil, wheat, natural gas, corn and commodity production ended the quarter near or below March. This conundrum leaves the powers that be at the National Bureau of Economic Research scratching their heads a bit. Here’s what should be on your radar this morning.

Upset by the live broadcast. TikTok’s live-selling project is reeling from its expansion in Europe and the US after its UK operations hit a few issues that led to the departure of staff and influencers. Supply hiccups, long hours and low pay were cited by influencers leaving the UK sales feed, although TikTok Shopping was successful in the Asian countries where it launched. READ MORE

Unexpected pinches. A report from LendingClub and PYMNTS examines how unexpected expenses can affect the delicate tightrope of paycheck-to-paycheck life. “The New Reality Check: The Paycheck-To-Paycheck Report: The Financial Distress Factors Edition”, found that the percentage of people living paycheck to paycheck increased by 4% from May 2021 to May 2022 . READ MORE

weakest link. Arthi Rajan Makhija, SVP, Head of Global Fraud Risk at PayPal, told Karen Webster that while there are many ways for a fraudster to infiltrate, the most common route is through the weakest link, which is usually located at the consumer level. Makhija said there was a lot of diversity at the customer level, regardless of the type of business at the center. READ MORE

health foundation. Alberto Casellas, executive vice president and CEO of CareCredit at Synchrony, told Karen Webster of PYMNTS that he decided to follow his grandfather’s advice and apply his medical knowledge to blaze new trails in the industry. of health. Its mission is to help consumers get the care they need when they need it. READ MORE

ICYMI. The former Wirecard accounting chief reportedly said he falsified documents requested by KPMG during a special audit, ahead of a trial by Munich prosecutors scheduled for later this year. Stephan von Erffa is one of three defendants and the disgraced company’s first senior executive to admit wrongdoing since Oliver Bellenhaus, a Dubai branch manager, surrendered two years ago. READ MORE

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NEW PYMNTS DATA: HOW UTILITIES AND CONSUMER FINANCE COMPANIES CAN IMPROVE THE BILL PAYMENT EXPERIENCE

About: More than half of utilities and consumer finance companies have the ability to digitally process all monthly bill payments. The kicker? Only 12% of them do. The Digital Payments Edge, a collaboration between PYMNTS and ACI Worldwide, surveyed 207 billing and collections professionals at these companies to find out why going digital remains elusive.

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