The International Finance Corp. (IFC) and Citigroup Inc. have established an $800 million fund to boost trade finance in emerging markets. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
In today’s top news, the Senate extended the PPP application deadline by five weeks, and an internal document reveals a small client base brought in over 50 percent of Wirecard’s sales. Plus, Brazil’s antitrust regulator said it will reverse its decision to suspend the WhatsApp-Cielo...
Luckin Coffee announced on Wednesday (July 1) the completion of an internal probe that blames the company’s former CEO and COO for inflating the embattled Chinese java giant’s revenue and expenses by hundreds of millions of dollars. Get the Full Story Complete the form to...
A group of big European banks is planning to challenge Visa’s and Mastercard’s positions as the world’s two largest payment processing networks, Electronic Payments International reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
The pandemic has heightened risks for pretty much everyone, including U.S. banks. The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). Get the Full Story Complete the...
COVID-19 continues to take the shine off luxury goods. Despite some signs of improvement this month, LVMH, the world’s biggest luxury goods group, admitted that its brick-and-mortar sales were erased by lockdowns across Europe and the United States in recent months, and that an immediate...
The digital shift at retail continued its momentum this week as Walgreens and Lululemon both made significant moves to embrace the online consumer experience. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
Macy’s Inc. recognized a $3.1 billion non-cash goodwill charge before tax, as the retailer’s long-haul forecast and market capitalization shifted, mainly due to the coronavirus health crisis. The department store retailer also recognized an $80 million long-lived asset impairment charge, according to a first-quarter financial...
A team of investigators raided Wirecard AG’s offices in two countries as part of the probe into the 1.9 billion euros ($2.1 billion) that went missing from the payments company’s accounts, Bloomberg News reported. Get the Full Story Complete the form to unlock this article...
