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Amazon has sold $1.6 million in Whole Foods products in the first month since acquiring the national grocery chain. According to news from The Wall Street Journal , this is one of the first infusions of cash the eCommerce giant has delivered to Whole Foods through its website. Amazon completed $500,000 in online grocery sales in the first week after it started offering Whole Foods’ “365 Everyday Value” products, according to One Click Retail eCommerce data.
In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (the Update). The Update represents the first comprehensive overhaul in lease accounting in approximately 40 years.
Generally speaking, if you’re trying to get a consumer’s attention, offering them access to “The Next Big Thing” is a pretty good way to do it. As Nancy Berger, VP and CRO at Marie Claire USA , told Karen Webster in a recent conversation, it’s one of those topics that inherently catches everyone’s interest. “If I’m going through my inbox and I see an email from someone I know and trust with ‘The Next Big Thing’ in the subject line – it’s what I’m opening first,” she noted.
While there has been lots of talk about robots stealing jobs and prompting layoffs of American retail workers, most people probably weren’t thinking accountants would be first on the chopping block. But, as it turns out… Sam’s Club has announced news that it is cutting 700 back-office retail positions at its U.S. brick-and-mortar locations as the company attempts to gain more control over costs and improve efficiency in its operations.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
Trade finance is in serious need of a tech overhaul. It’s true that FinTech innovators and alternative lending companies have targeted trade finance to improve access to financing, especially for smaller companies. But for larger corporates, the reality is that trade finance processes between themselves and their financial institutions remain manual, slow and clunky, largely due to the onslaught of paperwork that comes with a cross-border transaction.
WeChat, the Chinese messaging app owned by Tencent, confirms it provides information about users to the Chinese government. According to a news report , the company has released an update informing users that all the private information of customers will be disclosed to authorities in China. With more than 662 million users, WeChat is the leading app in the country and one of the largest around the globe.
Banks are finding it more difficult than ever to ignore potential FinTech partnerships that could better serve their corporate customers. When it comes to corporate treasury, business clients demand robust solutions and services from their banks, and FinTech players are stepping in to help. But the banks themselves also have complex demands for their own treasury departments, which, like other corporations, must be able to manage finances, risk and compliance.
Banks are finding it more difficult than ever to ignore potential FinTech partnerships that could better serve their corporate customers. When it comes to corporate treasury, business clients demand robust solutions and services from their banks, and FinTech players are stepping in to help. But the banks themselves also have complex demands for their own treasury departments, which, like other corporations, must be able to manage finances, risk and compliance.
A handful of Uber shareholders filed a lawsuit against the company and its former chief executive for what they claim is the covering up of illegal business tactics. According to a news report in The Wall Street Journal , the lawsuit, which was filed by the Irving Firemen’s Relief & Retirement Fund, contends that Uber’s ex-CEO, Travis Kalanick, knew he was misleading investors during capital-raising efforts by not informing them that Uber may have broken laws.
And just like that, there will be no new ownership structure for Facebook. Several financial news outlets, including CNBC , released news that a new class of stock will not be issued that would have let CEO Mark Zuckerberg maintain voting control of the company. That proposed ownership, according to reports, would have changed in the wake of Zuckerberg’s sale of millions of shares in the recent past to help fund his philanthropic efforts.
A smartwatch can act as a personal trainer that motivates the user to reach daily exercise goals. And, as smartwatches have enjoyed consumer popularity, it seems that there are opportunities for the devices to add new capabilities and play different roles. When Fitbit ’s latest smart device, the Ionic smartwatch, releases next month, contactless payment capabilities will be available as an integrated feature.
Lyft, the Uber rival, is eyeing the London market, holding talks with Transport for London (TfL) and City Hall officials over the past year. According to a news report in The Telegraph citing freedom of information records, while the talks don’t state Lyft is getting into the U.K. market, they do show it has an interest in that market and in the city’s transport policy.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
According the National Retail Federation (NRF), Halloween this year will see record-breaking shopping numbers. More people will be celebrating, which will mean bigger spend on Halloween costumes, candy and pumpkins in 2017 than in previous years. The NRF is forecasting the whole shebang will cost approximately $9.1 billion, up 8.3 percent from last year’s previous record of $8.4 billion.
PingPong Financial Group , a Chinese FinTech company, has received a Payment Institution (PI) license from the government of Luxembourg. In a press release, the company said its Luxembourg entity, PingPong Europe S.A., was issued the license by Minister of Finance Pierre Gramegna of Luxembourg, making it the first Chinese FinTech company to establish European offices in the country.
Trade finance revenue is slipping at the world’s largest banks, especially as companies struggle in a global trade environment operating with a $1.5 trillion gap in trade finance availability. The FinTech space is hoping to address these challenges head-on, targeting the paper and manual-based processes of trade finance transactions though innovations like blockchain.
Alipay , China’s leading third-party online payment solution, has partnered with Norway’s tourism promotion agency to provide better services to Chinese tourists traveling in the Nordic country. Norway is just the latest country to offer Chinese tourists the convenience of using Alipay, which is owned by China’s Alibaba Group. The mobile payment service boasts more than 500 million registered users and plans to grow that number to exceed 2 billion within the next 10 years.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Blockchain remains a hot topic among FinTech innovators, and now, more corporates are paying attention. That’s according to Juniper Research, which recently released the results of a survey polling nearly 400 corporate executives, founders, managers and IT specialists on the topic. In an article for Venture Beat published Monday (Sept. 25), Windsor Holden, head of forecasting and consultancy at Juniper Research, said the survey showed a “dramatic” increase in the awareness of blockchain
Bank of America Merchant Services laid off about 10 percent of its staffers last week, with sources saying that the cuts are the result of restructuring. The Wall Street Journal reported that the joint venture, which has operated in conjunction with First Data Corp. since 2009, employed about 2,200 people. It let go about 250 employees last week. A spokesperson explained that last Wednesday, BOA “announced to employees a restructuring designed to accelerate our business strategy and better meet
[link]. How to avoid sour notes when booking a music act? That is: Making sure that the band you take on is the right fit for the right place, and will keep people out on the dance floor or filling the seats? The question is not an idle one for talent seekers – the folks who book and pay for the musicians. Consider that half-empty music clubs can actually lose money on a tough night.
While Swiss financial watchdog FINMA announced it is investigating a number of initial coin offerings (ICOs) for possible breaches of Swiss law, South Korea has decided to ban the crowdfunding method altogether. According to news from Reuters , the Swiss investigation is the second crackdown in less than two weeks by FINMA and could lead to greater regulatory oversight of some of the most prominent blockchain projects in “Crypto Valley,” located in Zug, Switzerland.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
Chinese cuisine restaurant P.F. Chang’s announced it is testing beer and wine delivery with DoorDash at 12 locations in select California markets. Guests at least 21 years of age will be able to choose from more than 15 varieties of domestic, import and craft beers, including Kirin Lager, as well as more than 40 varieties of wine, including Mark West Pinot Noir and Estancia Pinot Grigio, to add to their order when placing it via DoorDash.
Facebook adds 33 stories of San Francisco office space and a 4,000-mile trans-Atlantic cable to its assets. Plus, the social media giant gets smarter about ads and M, the Messenger bot, driving its monetization strategy forward. Finally, see which class action lawsuit CEO Mark Zuckerberg dodged at the last minute — all in this week’s Facebook tracker.
When Facebook bought Oculus Rift for $2 billion in 2014, the acquisition wasn’t exactly regarded as a stroke of business genius. Wired referred to it as a bet too far; The Guardian said the purchase was made “because Mark Zuckerberg is rich and powerful, and because he can.”. They then noted what was the popular “uncharitable view” of the time: “Oculus VR is a boy’s toy for Facebook’s still-youthful CEO: He tried the Rift and loved it so much he bought the company.”.
Payments stocks showed an even keel this past week, generally split between winners and losers. The gains and losses were evenly distributed between the low single digits, percentage-wise. The biggest gains were notched by Net1 UEPS Technologies, Inc., which was up just under 4 percent. The stock traded higher on relatively light volume, with just a few thousand shares trading daily.
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
The era of price adjustments and price matching has ushered in an uncontestable series of wins for consumers. Instead of searching a few dozen sites to make sure someone else doesn’t have an item for a lower price, or having to wait a few days in case a big sale is around the corner, consumers can hit “buy” with confidence, relying on the fact that retailers are increasingly willing to match a competitor’s price or refund money back if a big sale comes up within a certain time window (usually 14
Wearables are at an interesting crossroads in the life of the American consumer. From the biggest names in retail and technology to up-and-coming startups, there suddenly seems to be a world of innovators with wearable inventions at the ready to make our lives better. For example, since the start of September, we’ve seen the latest super-specialized connected fitness product out of Garmin , a new edition of the Apple Watch, Fitbit’s Ionic , Samsung’s partnership with Speedo for the Gear Sport
Equifax, the embattled credit scoring firm reeling from a data breach that may have impacted as many as 143 million U.S. consumers, announced news on Tuesday (Sept. 26) that Richard Smith will retire as chairman of the board and CEO of the company. In a press release , the company said Board Member Mark Feidler will serve as non-executive chairman. Paulino do Rego Barros, Jr., who most recently served as president, Asia Pacific, and is a seven-year veteran of the company, has been appointed as i
Following the Equifax data breach, biometrics and data security have come under increased scrutiny as more companies and consumers consider their security-enhancing features. As a result, new biometrics solutions are popping up, adding additional layers to protect data and secure accounts that need extra care. Apple unveiled a facial recognition (Face ID) replacement for fingerprint scanning on its new top-of-the-line iPhone X, and several other companies took a page from Apple’s playbook by add
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
At PYMNTS, we love mobile order ahead , but what happens when mobile ordering isn’t enough – or rather, when it’s too much? After getting their first taste of mobile ordering, some restaurants are finding it’s not to their liking and are sending it back to the kitchen. Mobile apps – both restaurant-specific ones, and aggregators like UberEATS – can make ordering easier for the consumer.
As predicted, Amazon has a new Echo coming out in time for the holidays – and here’s how it plans to compete with Apple’s HomePod. Speaking of competing with Apple, the two are now in a price war over ultra HD video streaming, while Amazon’s free hand battles Google over the search engine giant’s surprise (or not) decision to stop supporting YouTube videos on the Echo Show.
A new report from Commonwealth Bank suggests small and medium-sized businesses (SMBs) in Australia are struggling to make use of the financial data at hand. Reports Monday (Sept. 15) noted that 54 percent of small business owners don’t feel their efforts in financial planning and forecasting are effective and living up to their potential, with one-quarter noting they do not have the ability to see if their planning efforts were effective.
Add the Consumer Financial Protection Bureau to the list of federal agencies expected to punish Equifax for the massive security breach that exposed the personal data of around 143 million Americans. According to a Reuters news report, the consumer finance watchdog, created after the 2008 financial crisis, will utilize the wide-ranging powers it has used with Wall Street to come down on Equifax.
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
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