MoneyGram and Ripple testing bank transfers of the XRP cryptocurrency. Fortune Staff Writer Jeff John Roberts explains why this partnership is so significant.
"Unlike Bitcoin or Ethereum, it (Ripple) is centrally controlled," explains Roberts. "This is Ripple's moment of truth because people are speculating on XRP." With transaction fees so high for Bitcoin, some investors are seeing Ripple as a good alternative.
"Ripple is at the forefront of blockchain technology and we look forward to piloting xRapid," MoneyGram CEO Alex Holmes said Thursday. In the release announcing this partnership, both Ripple and MoneyGram promoted the efficiency and speed of this digital currency.
IBM CEO Ginni Rometty is stepping down after nearly 40 years with the computing giant and eight years at its helm. The company said Thursday that Arvind Krishna will take over as CEO starting April 6
The company has promoted its Tax Pro Go option, which allows customers to upload their tax documents digitally and leave the rest to a trained tax professional.
The move by UPS represents a $440 million investment over the next five years, and it is part of the delivery service's minority stake in Arrival, which it purchased at an undisclosed sum.
The company reported fiscal first-quarter profit of $11.6 billion, up 36% from the same period last year. Net income of $1.51 per share beat Wall Street expectations.
The Palo Alto, California, company said it made a net profit of $105 million from October through December, or 58 cents per share but still posted an annual loss of $862 million.
Despite beating the Street's expectations, Facebook shares went down more than 7 percent in after-hours trading. While the company is still growing, the numbers could signify a slowdown ahead with more digital advertising platforms entering the market as well as looming regulation.
Aircraft surveillance company Aireon is riding the wave of adoption of the satellite ADS-B surveillance network to replace radar in its role of air traffic control.
Ford's luxury line, Lincoln, announced plans to release an electric pickup truck in partnership with Rivian.
Apple's fiscal first-quarter results released Tuesday provided the latest proof that the fears hanging over the consumer electronics icon might have been unfounded. The company's profits and revenue topped analyst projections.
The human resources tech platform company brings its total funding to $143 million with the investment led by Union Square Ventures and FirstMark Capital.
