PYMNTS
DECEMBER 6, 2020
Citigroup will be helping governments around the world establish sovereign digital currencies, or central bank digital currencies (CBDC), CEO Michael Corbat says, according to a report from CoinDesk. Speaking with David Rubenstein at a Bloomberg event on Friday (Dec. 4), Corbat said the development of such digital currencies was likely inevitable with the way money has been trending.
PYMNTS
DECEMBER 6, 2020
Online payments firm Paysafe is nearing a deal with billionaire Bill Foley for a special purpose acquisition company (SPAC) merger, according to a Bloomberg report, intending for Paysafe to go public. Paysafe is backed by Blackstone and CVC Capital Partners , and the deal with Foley Trasimene Acquisition Corp II is set to create an entity worth around $9 billion, according to sources quoted by Bloomberg.
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PYMNTS
DECEMBER 6, 2020
Airbnb , which plans to hold its initial public offering (IPO) Thursday (Dec. 10) — just a day after DoorDash does the same — will increase the range for the initial price to between $56 and $60 a share from a previous range of between $44 and $50 per share, The Wall Street Journal (WSJ) reported. The new Airbnb price would value Airbnb at $42 billion on a fully diluted basis, WSJ reported.
PYMNTS
DECEMBER 6, 2020
Pioneer Bank has joined the number of firms filing lawsuits over the continuing and complex MyPayrollHR/ValueWise scandal, which a report from the Daily Gazette calls one of the largest in Capital Region history. The scandal caused over $100 million in losses to hundreds of businesses and individuals upon its collapse in August of last year, the report says, when their paychecks didn't go through after CEO Michael Mann , or someone else near the top of the company, moved workers' money into a pr
Speaker: James Kahler, COO of Full Course
Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.
PYMNTS
DECEMBER 6, 2020
MonetaGo , which specializes in blockchain technologies, and GUUD Company , which focuses on making international trade smooth, have teamed up on international financial transaction security, MonetaGo announced in a press release. Both companies are based in Singapore. GUUD has significant operations across Asia, and GUUD executives have publicly announced plans to expand in the region.
PYMNTS
DECEMBER 6, 2020
Some Chinese shoppers visiting an established online mall will be able to buy goods with the country's first official digital currency under a new trial announced over the weekend, Reuters and other wire services reported. Residents of Suzhou were given free digital yuan as part of a test orchestrated by China's central bank, according to reports, and retailer JD Digits announced it will accept the currency for some purchases.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
DECEMBER 6, 2020
Mastercard , in its just-released Mastercard Economics Institute ’s Economy 2021 report titled “The E-Conomy is Here to Stay,” looks at the past year's economic trends in order to see what's coming next for businesses, according to a press release emailed to PYMNTS. The Economy 2021 study finds that digital spending will likely stick around after the pandemic at least in part.
PYMNTS
DECEMBER 6, 2020
Britain's highly anticipated report outlining new rules to govern Big Tech will call for establishing specific rules for certain sectors of the digital economy and major players within them, the Financial Times (FT) reported. The proposed regulations from the Competition and Markets Authority (CMA) are expected within the next few weeks and are almost certain to guide the actions of a newly announced government digital watchdog, FT reported.
PYMNTS
DECEMBER 6, 2020
A new Singaporean digital bank formed in a joint venture between Grab Holdings Inc. and Singapore Telecommunications Ltd. will hire 200 people before launching publicly in early 2022, Bloomberg reported. The new digital bank is coming about after the joint venture won one of two licenses for full digital banks awarded last week (Dec. 4) by the Monetary Authority of Singapore.
PYMNTS
DECEMBER 6, 2020
The European Union (EU) is looking to implement two-tier legislation in its new Digital Services Act to put greater responsibility on Big Tech’s shoulders to help remove more illegal content and fight counterfeit items, Financial Times (FT) reports. The rules would mark the first new changes to the bloc’s internet regulations in 20 years. Brussels’ plan is to adopt “asymmetric measures” in which the biggest companies are subject to more stringent rules than smaller rivals, according to an execut
Speaker: Jamie Eagan
As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of
PYMNTS
DECEMBER 6, 2020
Practice management software provider ImagineTime , which works with accounting firms, has partnered with Mango Billing for a "next-generation practice management solution," according to a press release. The collaboration aims to "increase firms’ revenue, save time and resources, boost productivity, and provide world-class support and service," combining ImagineTime’s own secure file sharing and eSignature services with Mango Billing’s features for tracking, invoicing and scheduling, the release
PYMNTS
DECEMBER 6, 2020
Procurement Partners , which works on procure-to-pay (P2P) services for healthcare providers, has received an investment from Serent Capital , according to a press release. Serent Capital typically focuses on technology and tech-enabled services companies, and Procurement Partners utilizes an eProcurement platform in order to give customers an automated, end-to-end solution for the full purchase cycle from product selection to vendor payment.
PYMNTS
DECEMBER 6, 2020
Mastercard is investigating the website Pornhub.com after a withering New York Times column alleged it hosts videos of children and adults being sexually assaulted, Reuters reported. In his Sunday (Dec. 6) column, Pulitzer Prize-winning journalist Nicholas Kristof wrote that Pornhub "monetizes child rapes, revenge pornography, spy cam videos of women showering, racist and misogynist content, and footage of women being asphyxiated in plastic bags.".
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Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.
PYMNTS
DECEMBER 6, 2020
The U.S. Senate may as early as Monday take up a new $908 billion stimulus package that includes help for small- to medium-sized businesses (SMBs) and state and local governments but will not include checks to U.S. households, the Financial Times (FT) reported. The package, according to FT, which cited multiple public statements by lawmakers, includes: $288 billion for SMBs; $180 billion to bolster unemployment benefits with an extra $300 per week; $160 billion for state and local governments; a
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