Latest news with #Klarna
Bloomberg
an hour ago
- Business
- Bloomberg
Klarna Secures New License from UK's Financial Conduct Authority
Klarna Group Plc said it has received an electronic money institution license for its UK division, which could lay the ground work for the Swedish fintech to more directly compete against the likes of Revolut Ltd. and Monzo Bank Ltd. for retail bank customers. The approval means Klarna — which is best known for its buy now, pay later services — will be able to offer its 11 million UK customers accounts where they can save funds, according to a statement. It will also allow Klarna to launch a debit card in the UK.
Forbes
14 hours ago
- Business
- Forbes
AI Fears Become Reality In The Tech Industry
This is a published version of Forbes' Careers Newsletter. Click here to subscribe and get it in your inbox every Tuesday. Fears of AI taking over jobs is already becoming a reality in tech. Fears of artificial intelligence costing people their jobs are already proving to be true. Or at the very least, CEOs are now admitting to the technology's impact as AI-related layoffs ramp up, especially in the tech industry, reports Forbes' Richard Nieva. Fiverr CEO Micha Kaufman is just the latest to say out loud that AI is already a threat to all kinds of jobs—including his. In an April memo to his 1,200 employees, he wrote: 'AI is coming for your jobs. Heck, it's coming for my job too.' 'I hear the conversation around the office. I hear developers ask each other, 'Guys, are we going to have a job in two years?'' Kaufman tells Forbes now. 'I felt like this needed validation from me—that they aren't imagining stuff.' He joins the likes of Andy Jassy at Amazon, Anthropic's Dario Amodei and Shopify's Tobi Lutke in admitting that AI will replace humans in white-collar jobs, some going as far as predicting a 'white-collar bloodbath.' The impacts are already being felt, particularly for young coders and entry-level workers. The total number of employed entry-level developers from ages 18 to 25 has dropped 'slightly' since 2022, after the launch of ChatGPT, said Ruyu Chen, a postdoctoral fellow at the Digital Economy Lab of Stanford's Institute for Human-Centered AI. But not everything can, or should, be automated just yet. Take the buy-now-pay-later firm Klarna, for example, which last year slashed its workforce by 40% in part to the company's investments in AI. A year later, it launched a massive recruiting push for human customer service agents. 'We have noticed that in a world where everything is automated,' Klarna spokesperson Clare Nordstrom told Forbes, 'people put a premium on the human experience.' Happy reading, and hope you have a lovely week! WORK SMARTER Practical insights and advice from Forbes staff and contributors to help you succeed in your job, accelerate your career and lead smarter. Why mastering 'systems-thinking' skills could protect your job from AI. What to do when someone is hired above you. Amid all the hype, here's why you may not need an AI agent. TOUCH BASE News from the world of work. Looking for lower costs, different lifestyles and less toxic politics, more Americans are considering retiring abroad. In its annual Best Places To Retire Abroad, list, Forbes ranked the 24 countries and 96 spots that could make the most sense for retirees looking outside the U.S. Beloved office snacks might soon be a thing of the past, thanks to Congress. Despite luring workers back into the office with the promise of free food, employers will no longer be able to deduct the cost of the food they provide for their employees as part of President Donald Trump's Big Beautiful Bill. The only exceptions: restaurants and the Alaskan fishing industry. One seemingly innocuous kiss cam at a Boston Coldplay concert has caused quite the workplace drama at tech startup Astronomer, pushing the company into the internet's spotlight. Former CEO Andy Byron stepped down after being caught embracing chief people officer Kristin Cabot at the concert, while the company's cofounder and chief product officer Pete DeJoy has stepped up as interim chief executive. More than half of U.S. companies are looking to pare back on health benefits as weight loss spending soars, according to Reuters. Increased cost sharing means employers could raise deductibles or maximum out-of-pocket costs, or even look beyond traditional pharmacy benefit managers, which act as middlemen between patients and insurers. NUMBER TO NOTE 9.3% VIDEO Could Tesla's Board Oust Elon Musk? QUIZ What bank joined JPMorgan and Goldman Sachs in cracking down on junior bankers accepting early private equity job offers? A. Bank of America B. Barclays C. Citi D. Morgan Stanley Check if you got it right here.
CNET
21 hours ago
- Business
- CNET
I Saved Hundreds of Dollars by Using Klarna's AI Shopping Assistant. Here's How to Use It
We all have something we want to buy online. I prefer to buy experiences instead of earrings, but I do enjoy adding pieces to my wardrobe. Clothes that last, like timeless Levi's jeans, a black blazer, a warm coat for New York winters, colorful pants to welcome the spring -- I tend to build my outfits around staple pieces I fall in love with. The problem is, these items tend to cost more because they're higher quality. So when I heard that "buy now, pay later" leader Klarna had launched an artificial intelligence shopping assistant that helps compare products to find the best price for you, I was intrigued. It also has access to reviews and is able to answer your questions. What is Klarna's AI tool? Klarna was founded in 2005 and logs about 2 million transactions per day. Its AI shopping assistant is powered by OpenAI, the maker of ChatGPT and Dall-E. It's available free in the Klarna app. Klarna CEO Sebastian Siemiatkowski said in an interview with Bloomberg late last year that he believes in AI so much that he thinks "AI can already do all of the jobs that we as humans do." For now, let's see if Klarna AI can help me save on a new black bag for my city coworking days. Setting up with Klarna AI I downloaded the Klarna app and created an account. If you already use Klarna, you can start using the AI assistant immediately -- click on the chat icon in the top right-hand corner. It looks like any other AI chatbot with an "ask a question" section, as well as prepopulated prompts such as "compare Nike and Adidas shoes," "show me the best coffee machines" and "most popular wireless headphones." You can also click on Shop to browse and compare products, alongside the AI assistant. First, I wanted to try out the AI to see how it would do finding me a black bag that's stylish and functional. I needed to replace my Kate Spade handbag that hurts my shoulder when I carry my laptop in it. Klarna/Screenshot by CNET This became my first prompt: "I have a black Kate Spade handbag with a laptop slip. I love the style, but I need to switch to a backpack for better shoulder support. This is a look I like from the brand, Cole Haan. Can you provide similar options, compare the reviews, and find the best option under $300?" Off the bat, it found four options I liked that were $50 to $100 cheaper than the link I supplied. It understood that I was looking for a "chic" backpack. Then I selected the top two and the result came up as out of stock, which was frustrating. I checked one style that was available and Klarna AI generated a graph to help me understand if the price was high, low or standard. Klarna / Screenshot by CNET In my follow-up prompt, I told the Klarna AI that the styles I wanted were out of stock and to provide more options. It asked me to select similar brands I like. I didn't love the second options so next I requested "boho styles" and prepopulated brands to choose. I found one I liked at a good price. But again, it was out of stock. Then I tried a more general prompt: "women's premium leather backpack for work." It did better this time. I asked the AI assistant a question about the size, and it generated the key features, which included "plenty of room to store a 13-inch MacBook Pro." Next, I asked Klarna AI to check the reviews. It told me the product has a 4.7 rating out of five stars, with 379 reviews. I went to the Michael Kors website to verify this, and it was correct. Klarna / Screenshot by CNET I also found that the bag was 80% off. It was $498, marked down to $99. When I started the search for a new bag, I had the $328 Cole Haan backpack in mind but was more than happy to find this $99 Michael Kors alternative that I liked just as much -- and that would save me $229. My verdict on Klarna AI Like other AI tools, Klarna's AI assistant was a fun shopping partner. While Klarna needs to fix some bugs, such as not showing out-of-stock items, it was helpful to be able to chat about a product I was planning to buy. It made the shopping experience more interactive and more informed. While I don't think it should be a consumer's only search tool, it can play a part. You don't need to put the purchase on a Klarna installment plan. The AI assistant can be used purely as a research partner. It helped me save $229 by finding a backpack at a better price -- in less than 30 minutes. That's a pretty good deal if you ask me. Pros and cons of using Klarna AI for online shopping Cons It generated results that, when I clicked on them, came up as being out of stock on seller websites. Specific prompts don't always generate super accurate results, so use more general prompts. Pros
The Sun
a day ago
- Entertainment
- The Sun
I'm a single mum & glammed up my council flat for just £66… I don't even have to pay for it yet & it's great for renters
A SINGLE mother has given her kitchen a quick and easy makeover, without breaking the bank. So if you want to add style to your space and are on a tight budget, then you won't want to miss this. 2 2 Cynthia, who regularly shares 'smart, helpful finds online,' recently revealed how she transformed her kitchen, whilst spreading the cost. Posting on social media, the blonde beauty gave her followers a close-up look at her yellow kitchen tiles, prior to her DIY overhaul. Using stick-on tiles from TikTok Shop, Cynthia was able to brighten up her pad, whilst sticking to a tight budget. And those strapped for cash will be stunned to know that this bargain hunter's transformation is costing her just £66 in total - and she is able to spread the cost over three months. Cynthia confirmed that she is using Klarna, the 'buy now, pay later' service provider, to pay off her purse-friendly purchase. Not only did Cynthia show off her affordable marble-esque kitchen tiles and her new grey flooring, both of which is costing her £22 a month, but she also addressed the 'biggest misconception' many people have about those who live in council properties - that they 'don't have to pay rent and council tax.' To this, the mother clapped back and wrote: 'THAT IS NOT TRUE, we have to pay rent and council tax just like everyone else.' Cynthia then added: 'As a lone parent, I find it difficult lately, however, we still want to improve our home. 'I'm not embarrassed to tell you that these wall stickers, along with the sticky flooring from my previous video I bought off TikTok Shop, cost me £22 a month for three months. 'I think these stickers make such a huge difference, what do you think?' Trolls say council houses can't look nice but my stunning hallway will prove them wrong Showing off her tile stickers, which Cynthia described as 'addictive,' she expressed: 'Cheap, renter-friendly and actually make my kitchen feel brand new - no builder needed.' The TikTok clip, which was posted under the username @ simplifywithcynthia, has clearly left many open-mouthed, as it has quickly racked up 151,300 views, 1,378 likes and 128 comments. Rules on transforming your council house According to Gov, the kind of improvements you can make to your council property depends on the type of tenancy you have. Introductory tenants are usually limited to minor improvements like redecorating inside. If you're a secure tenant, you have the right to carry out improvements to your property. These include: installing a new bathroom or kitchen building an extension putting up a garden shed or greenhouse installing a new gas fire or fireplace cavity wall insulation redecorating the outside of a house fitting an aerial or satellite dish You might need your council's written permission for work you do. Contact your council if you're not sure. DIY fans were gobsmacked by Cynthia's kitchen overhaul and many eagerly raced to the comments to express this. One person said: 'Looks great.' Another added: 'You did this so neatly and perfectly!' A third commented: 'Amazing job. You're a great inspiration.' Meanwhile, someone else asked: 'Did they stay on ok?' In response, Cynthia wrote back and confirmed: 'I've done it quite a while ago and they're brilliant. "By the cooker too, so much easier to clean.'
Yahoo
2 days ago
- Business
- Yahoo
Your credit score could go through a big change this fall — but that's good news if you're part of this growing group
If you've shopped online in the last few years, you've likely seen the option to pay with Klarna, Affirm, Afterpay or similar services. These 'buy now, pay later' (BNPL) apps let you split your purchase into four equal and interest-free installments or spread the cost over longer periods with interest. If you've ever used these services, you'll want to know those payments are getting reported to FICO — meaning they can show up on your credit report. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how According to the Federal Reserve Economic Well-Being of U.S. Households in 2024 report, 15% of Americans have selected the BNPL option within the last year. The payments seem simple enough: An $80 item can cost you $20 every month for four months, and if you pay on time, you won't get charged a penalty or interest. Plus, these types of payments are usually smaller, since they are used on routine online shopping. But, nearly a quarter of shoppers using BNPL have reported a late payment, the Federal Reserve found. Now, the late charge can show up on a buyer's credit score. Why FICO is making the change FICO, which did a yearlong study with BNPL provider Affirm, wants to see how American consumers spend their money and how often they need to take out these small 'loans.' The BNPL option "is becoming a really big part of how people are managing their finances, and so FICO wanted to be able to manage and reflect that shift," Julie May, vice president and general manager of business-to-business scores at FICO, told NPR. The Federal Reserve says BNPL is used by many demographics but especially by younger low and middle-income Americans. And for those shoppers, using Klarna or Affirm may be the only way to afford even those smaller purchases. FICO says this data has been a 'blind spot,' and now with BNPL data, they can see how many loans Americans can truly afford to take on. "We want people to get the credit that they need — but we don't want lenders to be flooding the market with credit beyond what's safe and reasonable for consumers," Adam Rust, director of financial services at the Consumer Federation of America, told NPR. Making BNPL purchases can be a way to start building credit if you have no loan history, but FICO says using BNPL won't do much to increase your current score if you're trying to bump it up. Plus, missing payments will still hurt your score. The potential ding to your credit score isn't the only risk with this payment option, either. Rust warns that they don't have nearly the same protections or regulations as credit cards: If you need to refund an order or find out an item was purchased fraudulently, you may still be expected to pay those third-party platforms. While the Consumer Financial Protection Bureau ruled that BNPL customers have the right to dispute fraudulent charges in 2024, they've since announced that they are pulling back from enforcing that ruling. Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says — and that 'anyone' can do it Should I use buy now, pay later? BNPL can indeed be an easy and convenient way to pay for everyday items, but at the end of the day, you are still taking out a loan that can now impact your credit. Let's look at what to consider before selecting that option at checkout. First, ask yourself if you can afford to buy the item outright without installment payments, especially if the item is not a necessity. If not, it may be a red flag that you can't actually afford to make that purchase. If the item is a want but not a need, consider saving up a bit longer so you can buy it outright — without fear of a late payment. Consider any other debts you may have, like existing credit card balances or other loans. Even though a BNPL loan is often small, forgetting your installment due date could cost you big time: a late fee could be as much as 25% of the item's original price, and for those longer-term installments with interest, you could be charged even more. Be sure to check the installment schedule. Some platforms withdraw monthly, while others are bi-weekly. Using BNPL can be a smart option for a necessary, larger one-time purchase, especially if you know you're consistent at making payments on time and it won't become a habit. Additionally, it can serve as a small step towards establishing a credit history — provided you maintain a good payment history — if you have never previously taken out a loan or credit card. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here's how Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
