U.S. Customs and Border Patrol (CBP) launched the first phase of its system for processing applications for refunds of tariffs on Monday (April 20). Importers and authorized customs brokers can now use their Automated Commercial Environment Secure Data Portal (ACE Portal) accounts to file their...
“The Emerging Middle Market: When Operational Complexity Grows Faster Than Financial Infrastructure” is a collaboration between PYMNTS Intelligence and i2c. This report examines a part of the U.S. business economy that is growing rapidly but often goes overlooked by financial providers: companies that have moved...
U.K. FinTechs VibePay and Smartlayer have shut down, according to media reports. VibePay, which was founded in 2019 and offered a consumer payments app that focused on account-to-account payments and targeted younger consumers, has entered liquidation, Finance Feeds reported Thursday (April 2), citing a Companies House filing. The company found itself...
Saks Global has secured $500 million in exit financing from a group of its senior secured bondholders and expects to emerge from Chapter 11 this summer. The luxury retailer expects to file a plan of reorganization within weeks, it said in a Thursday (April 3) press release. Saks Global...
Last April, President Donald Trump declared “Liberation Day” in imposing new tariffs. Nearly one year later, many American businesses are feeling anything but liberated, the Wall Street Journal reported Tuesday (March 31). As that report noted, companies of all sizes are grappling with uncertainty surrounding...
Insurers Corebridge and Equitable have launched a merger valuing the combined company at $22 billion. The deal, announced Thursday (March 26), creates a retirement, life, wealth and investment company with $1.5 trillion in assets under management. “The combined company will benefit from a strong competitive...
What’s next for tariffs is, in a word, uncertain. In the wake of the Friday (Feb. 20) Supreme Court decision striking down most of the tariffs levied by the Trump administration, followed by a spate of new tariff announcements, firm must grapple with how to...
Television shopping network QVC Group has held confidential talks with creditors to restructure its debt in bankruptcy, Bloomberg reported Tuesday (Feb. 10), citing unnamed sources. The company, which owns the TV channels QVC and HSN, has been struggling with declining viewership, a $6.6 billion debt load and tax liability, according to the...
The 21st century has flipped many longstanding business assumptions on their heads. Not the least of which is the traditional point of view that working capital is just a defensive tool firms can use to plug cash gaps as a last resort. In this legacy...