In today’s top news, Apple manufacturer and supplier Foxconn has returned to production, the Department of Justice charged two Chinese nationals with laundering over $100 million in cryptocurrency, and TurboTax’s deal to buy Credit Karma has sparked antitrust concerns.
More than 50 percent of sidelined seasonal workers are not back to work at Apple manufacturer and supplier Foxconn in China. The Taiwanese firm said production would be back to normal by the end of the month after slowing due to the coronavirus outbreak.
The Department of Justice charged two Chinese nationals with laundering over $100 million worth of cryptocurrency and operating an unlicensed money transmitting business. The money came from the roughly $250 million that was previously stolen by North Korean fraudsters.
Several legal experts have said that TurboTax’s deal to buy personal finance site Credit Karma for $7.1 billion raises serious antitrust concerns. Some have pointed to a similar attempt by H&R Block, when it tried to purchase another do-it-yourself tax software company in 2011 but was blocked by regulators.
Visa announced that it expects revenue growth to be about 2.5 to 3.5 percentage points lower than previously anticipated. Spending overseas has decreased dramatically, especially for travel-related purposes, due to fears over the coronavirus.
Amazon Prime is shrinking delivery windows, and consumers now expect items to arrive in a day — or less — making supply chain management and the last mile more critical than ever. Adrian Kumar, global head of Operations Science & Analytics at DHL Supply Chain, told Karen Webster that the key to optimizing fulfillment comes down to strengthening its weakest link using ergonomic design, artificial intelligence and letting robots run the warehouse.
Late payments and fraud are glaring red flags of a breakdown in accounts receivable processes, but pinpointing exactly what’s gone wrong — and how to fix it — can be a supplier’s nightmare. MSTS President Brandon Spear told Karen Webster why vendors must reconfigure the architecture of a receivable in order to get paid when net terms say the payment is due.
The Consumer Financial Protection Bureau (CFPB) is taking steps to make it harder for debt collectors to attempt to revive zombie debt — debt that has passed the statute of limitations for when a debt can be collected — with two proposed policy changes.