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European Lenders Announce 60K Job Cuts

PYMNTS

European banks have been forced to slash more than 60,000 jobs as they face falling profitability, The Financial Times reported on Saturday (Dec. France, Spain and Switzerland have suffered due to Brexit, slowing economic growth, increasing regulations and the European Central Bank’s negative interest rates. In the U.K.,

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Budgeting tips for resilient organisations??

CFO Talks

Resiliency is the foundation for all business models, says Christian Klein, CEO of SAP, in an article published by The World Economic Forum. As businesspeople, this offers us an opportunity: an opportunity to rethink our business models so that resiliency, profitability, and sustainability are not mutually exclusive.”.

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Wells Fargo Sees Some Credit And Debit Card Gains Amid Generally Bad Q3

PYMNTS

14), Wells Fargo called out strong mortgage banking fees, higher equity markets and declining sequential charge-offs as positives for the period. “As Wells Fargo is also bracing for ongoing economic troubles, setting aside another $769 million during Q3 for bad loans. Despite reporting rough overall Q3 results Wednesday (Oct.

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HSBC’s Digital SMB Banking Platform Launches In Beta

PYMNTS

The bank also plans to expand Kinetic into new geographic markets. Reuters noted that McIntyre remains confident in Kinetic’s ability to gain traction, even amid economic uncertainty in the U.K. where the FI’s losses were greatest. We haven’t yet sized what that means in terms of the restructuring.”.

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The Long Climb Back From Ghana’s Banking Crisis

PYMNTS

The bank went on to note that it had attempted to work with the FIs to move them back to solvency through the actions of their shareholders, but that all closed-down institutions had remained insufficiently capitalized after over a year of attempted restructuring. But when it came time to collect their funds, they found they were unable.

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How to create & use pro forma statements

Cube Software

The answers—based on different sources of data like market research or historical sales information—guide internal decision-making to promote regular, sustainable growth as well as create contingency plans for worst-case or best-case scenarios. This is always important to do, but especially now in the midst of economic uncertainty.

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The Sharing Economy come home: The IPO of Airbnb!

Musings on Markets

In this post, I will argue that there are good reasons for Airbnb's IPO timing, and make my first attempt at valuing this latest entrant into public markets. By the start of 2020, Airbnb had already become one of the largest players in its market of vacation and travel rentals, a sign of success, but also a crimp on future growth.