US banking giants edge closer to merger
A proposed deal to combine BB&T and SunTrust Banks cleared a further regulatory hurdle this week
North America
Amex targets US small businesses with new credit card
The American Express Blue Business Cash Card can assist a healthier cash flow and access to more business opportunities says its issuer
Corporates respond to prospect of lengthy trade war
With a prolonged, even deepening US-China trade dispute likely, companies are looking to banks for trade and financing solutions
Blockchain loses its allure for investors
With bitcoin and other cryptocurrencies restored to favour, blockchain investment this year could be 60% down on 2018, data suggests
American CFOs departing while the going is good
A buoyant stock market may be prompting finance chiefs to retire before a downturn hits, reports the Wall Street Journal
US farming sector’s working capital ‘critically low’
The past five years have seen a massive drain in its liquidity and the country’s current trade disputes aren’t helping, a study finds
Market volatility widens FX losses for North American companies
Four consecutive quarters of increasing losses saw the figure climb to US$23.4bn in the first three months of 2019, reports Kyriba
JP Morgan unveils low-cost robo advisor
The bank is releasing a digital investing service called You Invest Portfolios, which has been several years in development
Mastercard expands real-time payments to gig economy workers
The growth of temporary and short-term contracts has seen workers seek quicker access to the next pay cheque than via payroll schemes
More US insurers using exchange-traded funds
A Greenwich Associates/Invesco study finds more in the sector employing ETFs, with three main motivators identified
SSGA launches first-ESG-focused money market fund
State Street Global Advisors launches its first MMF based on social, governance and environmental criteria
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?"