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ywst Lawmakers Urge Regulators to Make Financial Data More Accessible
Eaah SoftBank, Flush with Hard Cash, Eyes WeWork Stake
As its stores shuttered to prevent the spread of COVID-19 earlier this year, the Canadian Tire Corp. Ltd. posted worse than expected second-quarter Q2 losses on Thursday Aug. 6 .聽Revenues for the Toronto-based company fell 14.2 percent to $3.16 billion, well above the $2.95 billion estimates from Bay Street, the Canadian equivalent of Wall Street.Canadian Tire operates automotive, hardware, sports, leisure and houseware stores includ stanley cupe ing Canadian Tire, Mark , FGL Sports, PartSource and Party City. The auto, home and sporting goods retailer closed its 203 stores in Ontario.Excluding one-time items, the company reported a lo stanley canada ss of 25 Canadian cents per share, while analysts on average expected a loss of 10 Canadian cents.The company said its operations and diluted earnings per share EPS were $ 0.33 and normalized diluted EPS were $ 0.25 , compared to normalized diluted EPS stanley cup of $2.97 for the same period last year.The decline in credit card sales resulted in lower transaction fee revenue as it hit聽the company financial services segment, which saw its income nearly halved.聽Performance in Q2 was impacted by a $300 million decrease in revenue compared to last year, primarily at Sport Chek, Mark and Helly Hansen banners due to store closures.聽Consolidated earnings were hurt, the company said, by $41.7 million following COVID-19-related costs, including $41.2 million for a support payment for frontline employees and enhanced safety protocols for employees and Lxao Singtel Teams With Axiata Digital; Cleartrip Integrates Apple Pay
Up and down the supply chain, payments speed is key. But the process might be slowed in some spots wh stanley quencher ere payments technology is less than cutting edge, and in some cases, suppliers and others typically do not use or accept credit cards.In a first for Citi, the banking giant has launched a B2B payments business in the Asia-Pacific region, with a cross partnership between Visa and Invapay, the digital payments firm based in the United Kingdom, with an eye toward smoothing the cash flow cycle for suppliers, allowing them to be paid by accepting commercial cards.In an interview with PYMNTS, Sid Vasili, Invapays chief executive officer, noted that large companies, by and large, are still tied to an accounts payable process that is wedded to 1955, where there is the need to dot all is and cross all ts and invoices are still received in the mail, and th stanley kaufen e process can take 16 days to 30 days just to get things turned around. Thus, noted the executive, cash flow management is far from optional, and for chief financial officers and payments executives, the key desire to stretch out days payable i.e., dispensing cash and balance that with accounts receivable i.e., incoming cash remains unfulfilled.To that end, Invapay ad stanley website dresses each of several issues, maintained Vasili, including the continued movement to automated payments across FinTech and the necessity of a digital platform that helps streamline the payments process, with a focus on the suppliers, who, as Vasili put it, aim to |
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