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Klarna lays groundwork for IPO; avoids strike

Klarna is setting up a UK holding company ahead of a widely-expected initial public offering. Separately, the BNPL giant has struck a collective agreement with Swedish workers to head off a strike.

Mediobanca invests €12 million in London fintech incubator

Mediobanca has joined with Founders Factory, the London-based global company builder and early-stage investor, to launch a new fintech venture studio and accelerator, underpinned by an overall €12 million investment from the Italian investment bank.

US judge green lights Terraform’s $4.5bn SEC settlement

Terraform Labs and its former CEO Do Kwon have reached a $4.5 billion settlement with the SEC after a jury verdict held them liable for orchestrating a years-long fraud involving crypto asset securities that led to massive investor losses when the scheme unravelled.

Iceberg Data Lab launches ESG AI assistant ‘Barbatus’

Green fintech Iceberg Data Lab has launched a new product that harnesses generative AI technology to generate real-time, text-based and fully sourced explanations in response to questions regarding the ESG data of portfolio companies.

UK communications watchdog launches cloud competition probe

Ofcom has announced its probe into cloud service providers Amazon, Microsoft and Google. The investigation will look into these providers, which generate around 81% of revenues in UK public cloud, to ensure the market is working properly and not limiting innovation or growth.

Upstart auto originations soar 533%

AI-driven lending platform Upstart’s auto originations skyrocketed 533.3% year over year in the second quarter as dealer volume rose and…