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FinTech Revolut’s Losses Triple As Customer Base Grows

PYMNTS

With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. The company posted a total loss of $139.6 Revolut attributed the losses to its expansion into new markets and the introduction of new products. million (£106.5

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Uber, Abiomed, Peloton, Carvana, Molson Coors and more

CFO News Room

SoFi – The fintech company jumped 10% on the back of a smaller-than-expected quarterly loss and revenue that exceeded analysts’ forecasts. Stryker – The medical technology company dropped 4% after cutting its outlook due to inflation and foreign exchange pressures. Eli Lilly – The drug manufacturer dropped 4.8%

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MUFG Invests $700M In Ride-Hailing Grab To Create Super-App

PYMNTS

MUFG wants to strengthen its presence in Southeast Asia, which the bank sees as an important factor in future growth as Japan’s market continues its slowdown. Japan has been facing negative interest rates for half a decade now, and many banks are feeling the pressure to continue to find sources of profit. billion euros ($1.16

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The Financial Opportunity In Supply Chains’ Rising FX Risks

PYMNTS

Foreign exchange (FX) volatility can be detrimental to businesses with heavy reliance on cross-border operations. and China, as well as Brexit , are among the biggest current geopolitical events that continue to rock the FX market, and companies are at risk of taking significant financial hits as a result.

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Sage Exits Latin America Amid Cloud Transition Growing Pains

PYMNTS

For the fiscal year ending September 2019, Sage reported revenue of £53 million and an operating profit of £2 million. In FY2018, revenue was £54 million and the operating profit was £2 million. Founded in 1981 by David Goldman, Sage grew to become the market leader for on-premise accounting and payroll software for SMBs.

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World’s Best Banks 2024—Asia-Pacific

Global Finance

Lending rates followed central bank tightening moves, while deposit rates lagged; and across the region, there were some record profits. In Japan, profits at the country’s five most prominent banking groups leapt 56% to a record ¥2 trillion (about $12.6 billion after-tax profit versus $8.3 billion; a 2.3% CCB invested 4.9

Banking 52
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Hedging or de-hedging, that is the question…

Simply Treasury

When payments were in foreign currencies, this may have affected their results because of currency hedging. The extremely high market volatility during the health crisis, one of the economic consequences of COVID, also forced many companies to review their hedging strategy. But the amount initially accumulated in OCI/EHR (i.e.,

IFRS 130