SSGA launches first-ESG-focused money market fund
State Street Global Advisors launches its first MMF based on social, governance and environmental criteria
North America
Banks remain key to US corporates’ investment strategy
Nearly all report that their bank relationships are core to their operating cash investment mix, an AFP survey finds
US corporates improve working capital performance
The working capital efficiency of America’s top 1,000 public companies in 2018 was the best for six years, a study finds
MoneyGram gets US$50m boost from union with Ripple
The money transfer company’s strategic partnership with the blockchain solutions pioneer is initially for a two-year period
Trump tariffs create working capital strains for US firms
Companies are resorting to various measures in response to the administration’s tariff-heavy trade policy, a report finds
Target joins US retail giants exploring blockchain
For nearly a year, the Minnesota-based group has quietly worked on a blockchain-powered solution for supply chain management.
US healthcare sector’s CFOs focus on IT system integration
A survey by industry researcher Black Book identifies it as their main IT challenge, reflecting a lack of investment in recent years.
Microsoft adds real-time stocks data to Excel
The partnership with Nasdaq and Refinitiv builds on and expands last year’s launch of the Stocks data type in Excel.
PayFi, The Clearing House partner on US real-time payments
The partnership promises to bring real-time payment capabilities to community banks across America.
Bank of America warns trade wars to dent US corporate profits
The bank’s top stock strategist warns clients that the S&P 500 has yet to reflect the impact the US-China trade dispute may have on ear
Walmart signs up for blockchain to track pharmaceuticals
MediLedger’s aim is to establish an “open and decentralised network for the pharmaceutical supply chain.”
Banks’ online portal seeks to drive fintech collaboration
Israel’s Bank Leumi, North America’s CIBC and National Australia Bank pool resources as part of an international banking alliance.
Trump tax breaks ‘saved US corporations US$91bn’ in 2018
The Tax Cuts and Jobs Act passed in late 2017 cut the rate of corporate tax from 35% to 21%, but many companies reduced it further.
Visa chief downplays banks’ push for real-time payments
Al Kelly says he is unconvinced real-time payments will take off and asks: “Does the consumer really need the funds that much faster?"
US and UK form fintech innovation partnership
The FIP will focus on two main areas of regulatory engagement and commercial engagement to facilitate innovation.
US fintech Plaid rolls out services in the UK
The six years old San Francisco company, already valued at $2.7bn, is expanding across the Atlantic and opening its first UK office.
Consolidation continues as Global Payments pays $21.5bn for TSYS
The payments technology sector marks its third major acquisition deal since the start of this year.
Fintechs gain favour for B2B payments processing
Around three in four banks are seeking to leverage fintech solutions for payments-related services, reports Bottomline Technologies.
Chicago Board Options Exchange launches Cboe FX Point
Cboe’s institutional FX arm says the electronic foreign exchange trading venue gives institutional investors a range of options.
Moody’s helps US SMEs with cash flow forecasting
The credit ratings agency is partnering with the Foundation for Small Business Development to help firms access financial resources.
Kyriba links with JP Morgan on real-time payments
The San Diego group is the. first treasury management provider to offer real-time payments in the US to the bank’s corporate customers.
US treasury and finance professionals average 3.5% pay rise
The figure for 2018 reported by the Association for Financial Professionals kept employees well ahead of inflation, which averaged 1.9%
Shadow banking ‘increasing systemic risk’
Progress made since the financial crisis in improving banks’ credit profiles could be undermined by its growth, warns Fitch Ratings.
Calmer FX markets sees fewer US multinationals hedge
With currency volatility at a five-year low, more companies are taking the risk of going unhedged.