Business

Dan Primack 1 hour ago
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New York Stock Exchange prez steps down to buy a fintech company

Thomas Farley at the World Economic Forum in Davos. Photo by: David A. Grogan via Getty Images.

Thomas Farley this morning stepped down as president of the New York Stock Exchange after a four-year run.

What's next: Farley will serve as CEO of Far Point Acquisition Corp., a blank check acquisition company that filed to raise $400 million to buy one or more financial technology companies.

Erica Pandey 1 hour ago
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The possible U.S.–China deal to save ZTE

Mnuchin from the side
Treasury Secretary Steve Mnuchin in Beijing. Photo: Greg Baker/AFP via Getty Images

The U.S. and China are closing in on a deal to save Chinese phone maker ZTE, which was forced to halt operations after a U.S. sanctions onslaught, according to a Wall Street Journal report.

The details, per people familiar with the negotiations in both countries: The Trump administration would lift the ban on American companies selling parts to ZTE while the Chinese company would make sweeping changes to its management and potentially pay large fines — though specifics are still being discussed.

Ina Fried 1 hour ago
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Starbucks likely to keep mobile payments lead over Google, Apple

The winner of the in-store mobile payments race may surprise you: While Apple, Google and Samsung are all seen posting healthy growth over the next few years, eMarketer predicts that Starbucks will maintain its lead in terms of number of users through 2022.

Reproduced from eMarketer; Chart: Axios Visuals

Why it matters: An increasing share of in-store spending will be done using mobile payments. The question is whose mobile payment technology will win the day.