Buy-now-pay-later purchases are poised to begin affecting consumers' credit histories.
Why it matters: BNPL was initially left off of credit reports, but critics say that left credit agencies with an inaccurate picture of consumers' financial health.
Driving the news: BNPL giant Affirm is reporting all of its short-term interest-free installment loans to the credit reporting agency Experian starting today.
Between the lines: The loans will not immediately factor into consumers' traditional credit scores, Affirm says — though they may down the line as new credit scoring models are developed.
In the immediate term, the move will do two things, it says: help lenders make more informed decisions before extending credit, and help consumers build their credit histories.
Hooters of Americafiled for bankruptcy protection late last night with a plan to restructure its debt and emerge as a more sustainable company. We combed through the latest filings in the case for key data points:
5,957: employees
154: franchised locations
151: company-owned restaurants
95: potential third-party investors contacted in November to bid on the company
38: investors that expressed enough interest to sign confidentiality agreements
Roblox gamers will begin seeing new forms of ads embedded in their virtual games in a deal with Google.
State of play: Roblox will integrate "2D and 3D formats designed to blend seamlessly into gaming environments (think virtual billboards in a gamified cityscape)," AdWeek reported today.
Gamers will also be given the chance to watch video ads up to 30 seconds long "in exchange for boosts, lifelines or resources in a particular game through rewarded videos," Reuters reported.
💭 Nathan's thought bubble: Time is money, so now gamers can sell their attention for the sake of a better virtual experience.
History, they say, may not repeat but it rhymes. America's periods of high tariffs dating back to the 1800s carry eerie similarities to today's trade war escalation.
Why it matters: The history of post-tariff higher prices and weaker economic conditions offers some perspective for what might happen in the months and years ahead.
Hooters of America filed for bankruptcy protection and plans to sell over 100 company-owned restaurants to an investor group that includes Hooters' co-founders and franchisees.
Zoom in: The announcement blames private equity, not an antiquated concept, for the chain's poor fortunes.
The European Union is ready to take "firm counter-measures" to respond to U.S. reciprocal tariffs, the president of the European Commission said Tuesday.
Why it matters: The world is on the brink of a historic trade war, one that threatens to spark a bout of stagflation with profound consequences for global economies.
President Trump's global dealmaking blitz is facing new obstacles, with early optimism eclipsed by broken ceasefires, pissed-off allies and thinning patience at home and abroad.
Why it matters: Ten weeks isn't a long time in foreign policy. But it was Trump who promised instant results — and Trump whose "Art of the Deal" credentials are at risk if chaos consumes his early presidency.
