Sat.Aug 29, 2020 - Fri.Sep 04, 2020

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Hilton Hotel In Times Square To Close

PYMNTS

The Hilton Times Square is the latest victim of the coronavirus pandemic. In a filing with New York’s State Department of Labor Monday (Aug. 31) the managing director of the 44-story landmark said it will close permanently next month and 200 jobs will be lost. The iconic hotel on West 42nd Street was shuttered and furloughs began in mid-March as COVID-19 struck the city, The Wall Street Journal (WSJ) reported.

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How CFOs Can Lead With Foresight

Jedox Finance

The depth and breadth of the 2020 crisis caught many unaware. It thrust the Chief Financial Officer (CFO) to the frontline of business survival and saw many setting up cash control towers with granular oversight over cash flow, receivables, and payables to navigate disruptions. The new normal introduced new risks from employee health and safety, supply chain stress and government mandates – all with working capital implications.

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Trending Sources

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CFOs: This pandemic-induced security trend is a new cost item

Future CFO

Bring Your Own PC Security would become one of the pandemic-induced trends that leave a transformational impact within the next decade, said Gartner recently. “Prior to the COVID-19 pandemic, there was little interest in BYOPC,” said Rob Smith, senior research director at Gartner. “At the start of the pandemic, organisations simply had no other alternative.

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5 MORE Easy Measures for Your Essential Small Business

Adam Kae

Last week, we talked about , 5 easy tips you can change today as an essential small business to keep things running smoothly. This week, we’ll give you five more tips that the CDC recommends can keep you internally staying strong! 1. Identity a Workplace Coordinator. While that title sounds very official, it’s not complicated to integrate! Your Workplace Coordinator is a person responsible for keeping up with everything COVID-related like relevant changes shared on the news and new internal poli

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Cloud Banking Next Step In FI Modernization

PYMNTS

With estimates that over 500 billion real-time payments will be processed over the next five years, the race is on for upgrades and integrations that allow financial institutions (FIs) and their clients to participate in a real-time payments space that is expected to reach nearly 53 billion real-time payment transactions by 2024. The FI’s Guide to Modernizing Digital Payments , done in collaboration with Red Hat , details developments in real-time payments, providing insights and direction for F

Banking 135

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INSEAD: More Asian countries achieve progress in innovation

Future CFO

While high-income countries still dominate the top 10 of INSEAD’s Global Innovation Index (GII) 2020, there’s a gradual eastward shift in the locus of innovation as a group of Asian economies — China, India, the Philippines and Vietnam – have advanced considerably in the innovation ranking over the years, the business school said recently. Switzerland, Sweden, the US, the UK, Netherlands, and Singapore lead the innovation ranking, with a second Asian economy — the Republic of Korea — joining the

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Should Fundamental Investors Give Up on Value Stocks?

CFA Institute

For fundamental investors looking for mispricings, value stocks may be best ignored.

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Re-Examining The Role Of Correspondent Banking

PYMNTS

More money crossing borders digitally. Fewer correspondent banks to move that money. And the hallmark of that money movement — a lack of transparency and speed. What might replace a clunky system in a world where payments are becoming ever more global? The Bank for International Settlements (BIS) said in a recent report that the number of correspondent banks — where banks and financial institutions (and domestic payment systems) are linked together — slipped 3 percent in 2019 vs. 2018 and decl

Banking 123
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A real life story – Rasa Grill

CFO Plans

By Casey Gillam – Sales Manager at CFO Plans Inc. What’s more fulfilling than family, friends, and food? Not much, according to the founders of RASA Grill. Rahul Vinod and Sahil Rahman grew up together since they were children as friends because of their fathers’ friendship. At gatherings, food always played an important role when the families met.

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Planning Your Restaurant's Path to Profitability

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.

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Asia faces sharp rise in insolvencies as pandemic pressure mounts

Future CFO

Atradius forecasts a jump in insolvencies across Asia in 2020, with Hong Kong expected to be one of the most affected markets across the globe. The increases are primarily driven by the impact the pandemic is having on global economies, the trade credit insurer noted. Every major economy, except for China, is expected to enter recession this year, the depth and length of which will be determined by the ability of economies to manage health regulations and either exit lockdowns or thrive in socia

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Three Ways Asset Managers Can Embrace Responsible Product Innovation

CFA Institute

How can asset managers embed responsible innovation into their products?

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PayPal Launches iZettle Food & Drink In The UK

PYMNTS

PayPal has launched its iZettle Food & Drink app, the point of sale (POS) platform for iOS to support food and drinks service in the U.K. The app was crafted to support the hospitality industry including restaurants, cafes and pubs for a fast and easy way to pay the check. England’s food and drink sector was one of the hardest hit by lockdowns. Sales fell by 87 percent from April through June.

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How Retailers Can Ride The Rise Of Mobile Wallets

PYMNTS

Mobile payments have long been billed as the next big thing. Starting with the release of Apple Pay in 2014, there was a veritable rush of proprietary mobile wallets sent to market, a host of “. Pays” for consumers to choose from. The problem, Brett Narlinger , Blackhawk Network ’s head of global commerce, told Karen Webster, is that most consumers weren’t really looking for a new payments form factor that they could only use on certain devices or at a short list of places.

Retail 115
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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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SPAC Investor Ackman In Limited Talks With Stripe For IPO

PYMNTS

Billionaire investor Bill Ackman said he's had preliminary discussions with Airbnb and Stripe , among others, about helping them to go public, Bloomberg reported. The process would involve them going through a merger with Ackman's blank-check company. Airbnb didn't get anywhere with Ackman before the popular home vacation rental app ended up seeking a traditional initial public offering (IPO), which it said it ultimately preferred to Ackman's method — although it hasn't ruled out a merger with A

Valuation 113
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Mastercard’s Kirkpatrick: Why Now Is the Right Time for A New Cash-Back Credit Card

PYMNTS

As consumers pay down credit card debt – in some cases with the aid of stimulus checks – and are ever wary about their financial situations, issuers have been muted when it comes to rolling out new cards. It may seem like a dubious time to introduce a new card. But as Linda Kirkpatrick , president of U.S. issuers for Mastercard , told Karen Webster in an interview, recent announcements of Chase rolling out a new card, Freedom Flex, while refreshing its Freedom Unlimited card, underscore the impo

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Helping FIs Separate The 'Reality Of Fraud Protection' From Perception

PYMNTS

The pandemic has pushed us to do all things digitally while opening up new vectors of attack. Those new avenues of fraud have leveraged hallmarks of the current pandemic — fears over public health and concerns about stimulus checks issued by the government — to snare unwitting victims. . . According to some estimates, as many as 22 percent of Americans have been impacted by COVID-related fraud. . .

Leverage 111
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CheckAlt, NXTsoft Partner To Boost Real-Time Integrations

PYMNTS

CheckAlt , which provides treasury management and item processing, is partnering with OmniConnect, NXTsoft 's secure connectivity solution, to allow for faster real-time integrations, a press release says. The team-up will help to speed up onboarding by improving connections between CheckAlt, core providers and credit unions or banks for LoanPay, the loan processing solution utilized by CheckAlt.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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SBA Eyes Fees Paid To Rocket Loans, Contractor In Loan Program

PYMNTS

The U.S. government's Economic Injury Disaster Loan (EIDL) program, plagued by delays and fraud, has created attention for a firm that netted around $800 million in fees while subcontracting the work out to the nation's largest mortgage lender, The Wall Street Journal (WSJ) reported. The Small Business Administration (SBA) awarded $770 million to RER Solutions , a Herndon, Virginia-based contractor, to process loans for businesses hurting under the economic strife of the pandemic, according to g

Economics 108
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Pinterest Pays $89.5M To Cancel New Office Lease As Employees Work At Home

PYMNTS

Pinterest is canceling its upcoming lease to move into a San Francisco office that it doesn't need because its workers will be working from home, a report Monday (Aug. 31) from KCBS Radio said. The plan was for the social media tech giant to lease a near-490,000 square-foot office at 88 Bluxome, in San Francisco's SoMa neighborhood. The neighborhood is involved in the redevelopment of the old San Francisco Tennis Club.

Planning 108
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Delta, American Join United In Eliminating Change Fees In US

PYMNTS

Delta Air Lines and American Airlines , looking to draw customers back during the pandemic, are dropping change fees for domestic flights, CNBC reported Monday (Aug. 31). The move comes after rival United Airlines did the same thing Sunday (Aug. 30), getting rid of its $200 fee to change tickets for domestic flights. Delta, which is based in Atlanta, made the elimination of the change fees effective immediately, and included all tickets for the U.S., Puerto Rico and the U.S.

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Reliance Retail Fires Shot Against Amazon In Battle For India

PYMNTS

There’s a storm brewing in the Indian retail scene, with Amazon at its center. Over the weekend, Reliance Industries – the company owned by India’s richest man, Mukesh Ambani – purchased Future Group ’s 2,000 retail stores and the Big Bazaar grocery chain. Reliance , which is already referred to as the “Amazon of India,” owns and operates more than 10,000 stores across categories including supermarkets, consumer electronics, apparel and other various segments, and also owns several eCommerce sit

Retail 105
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Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.

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The Digital Payments Preferences That Cross The Generational Divide

PYMNTS

Cash will always have a place among consumers — but its use is dwindling. Only 26 percent of all consumer payments are made in the U.S. with cash — and consumers are even starting to ditch plastic cards. For financial institutions (FIs) and enterprises that seek to pivot to meet the growing demand for digital payments, observing and reacting to shifts in how different generations prefer to pay will be critical during the pandemic and beyond, according to Royal Cole , executive vice president, FI

B2B 104
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Chronic Medical Conditions Get Telehealth Boost With DTC

PYMNTS

The direct to consumer ( DTC) model is changing the way we get our goods and services across everything from makeup to meal kits. And it is upending healthcare too, perhaps most visibly in pharmaceuticals, where we can get our meds mailed, on autopilot. But drill a bit deeper and DTC can shift some of the dynamics in how we treat and even diagnose some of the most persistent personal problems — cosmetic ones and even some debilitating conditions.

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Flipkart Rolls Out B2B Marketplace

PYMNTS

Flipkart has rolled out its Flipkart Wholesale operations, which serves as a B2B marketplace for small businesses and shops. The offering is now available to customers in Bengaluru, Gurugram and Delhi, Financial Express reported. The app is available for those who have Android devices to have merchandise sent to their stores as it stands. “Change the way you buy bulk products for your business with Flipkart Wholesale’s efficient technology and logistics,” Flipkart Wholesale said on its website.

B2B 101
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Amazon And Walmart’s Battle For Consumer Retail Spend

PYMNTS

In some ways, the second quarter was like nothing the world has ever seen, as the pandemic cut through the daily lives of Americans from April through June, and is still a factor in many parts of the country. But in other ways, it was business as usual, as the two biggest retailers in the world – Walmart and Amazon – posted stellar earnings numbers and competed in more muted ways for the U.S. consumer’s whole paycheck.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.