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A Barclays bank building is seen at Canary Wharf in London, Britain May 17, 2017. Barclays distributed a presentation on its domestic merchant acquiring unit to potential bidders - mainly specialist payments providers - over the summer, two of the people said, but plans may still be altered or dropped entirely. Our businesses continue to perform well and growing our global payments business is a priority for us." The group drafted in consultants to prepare separate financials for its domestic merchant acquiring operation in an initiative known internally as Project Hyperion, one of the people said. Barclays is also gauging interest in its German consumer finance operations, known as Barclaycard Germany.
Persons: Stefan Wermuth, Sanpaolo, Amy, Jo Crowley, Pablo Mayo, Milana, Lawrence White, Elisa Martinuzzi, Susan Fenton Organizations: Barclays, REUTERS, Barclays Plc, Reuters, Chief, CS Venkatakrishnan, Spain's Banco Sabadell, Italy's, Pablo Mayo Cerqueiro, Thomson Locations: London, Britain, Germany, New York
[1/2] Paytm app is seen on a smartphone in this illustration taken, July 13, 2021. Paytm, which competes with players such as Google Pay and Walmart's PhonePe in India, rose to fame as digital payments gained traction after India banned some high-value currency notes in 2016. Every segment of merchants, from vegetable vendors to big showrooms, have started accepting digital payments. "We have found that merchants and consumers need card acceptance as simply as mobile payments with Paytm QR Code," Vijay Shekhar Sharma, founder and CEO of Paytm said in a statement on Monday. Pine Labs had said their "price-friendly product" was expected to boost digital payment adoption in India.
Persons: Dado Ruvic, Vijay Shekhar Sharma, Paytm, PhonePe, Eileen Soreng Organizations: REUTERS, Rights, Monday, Visa, Mastercard, American Express, Pine Labs, Google, QR, Labs, Companies, Sethuraman, Manvi, Thomson Locations: India, Manvi Pant, Bengaluru
Within the federal union, the slave-dependent states had access to a national market in which they could sell the products of slave labor to merchants and manufacturers throughout the country. Entitled to representation under the supreme charter of the federal union, slave owners could accumulate political power that they could deploy to defend and extend their interests. And because the states had considerable latitude over their internal affairs, the leaders of slave-dependent states could shape their communities to their own satisfaction, especially with regard to slavery. But the federal union wasn’t perfect for slaveholders. They could, for example, declare enslaved Black people free once they entered.
Persons: , Kate Masur, Be Organizations: Civil Rights Locations: , Ohio
Amazon and Shopify announced a new Buy with Prime app for Shopify on Wednesday. Buy with Prime let merchants offer Prime benefits, such as fast shipping and free delivery, on websites beyond Amazon.com. Amazon had no choice but to let Shopify merchants view Buy with Prime-related metrics on its own backend console, not within the unified Shopify Admin tool, according to the internal Amazon document from April. If Buy with Prime data wasn't smoothly integrated into Shopify Admin, Shopify merchants might not use the Amazon feature much. Constant delaysThe internal Amazon document described a Shopify-native Buy with Prime app as a "flagship" goal for Amazon's top leadership because it would make Buy with Prime more appealing to Shopify merchants.
Persons: Shopify, Santos Jeff Bezos Kevin Mazur, Jeff Bezos, Tobi Lütke David Fitzgerald, Sportsfile, Harley Finkelstein, Finkelstein, Mark William Lewis, Andy Jassy, they've Organizations: Amazon, Amazon.com, Prime, Project Santos, Getty, Amazon Logistics, Netalico Commerce, Web, Associated
But by January of this year, faced with rising rent, increased taxes and financing constraints, he closed it down. The government of Nicolas Maduro relaxed currency controls in 2019, allowing more transactions in dollars despite U.S. sanctions. The move led to a slight recovery in 2021 and 2022 after eight years of economic collapse and the migration of some 7.3 million Venezuelans. 'NO BUYING CAPACITY'Other businesses which have survived said they were slashing prices, salaries and profit margins to stay afloat. "Structural economic problems like scarce credit, an absence of recovery in public utilities, among others, were not resolved."
Persons: Enrique Perrella, Nicolas Maduro, Maduro, Yaner Fung, Fung, Ecoanalitica, Jesus Palacios, Migdalia Uviedo, Ivan Puerta, restaurateurs, Giulio Gallucci, Mayela Armas, Keren Torres, Tibisay Romero, Johnny Carvajal, Julia Symmes Cobb, Vivian Sequera, Rosalba O'Brien Organizations: Venezuelan Finance Observatory, Retailers, Restaurants, Thomson Locations: CARACAS, Caracas, Barquisimeto, Valencia, Ecoanalitica, Mexican
Singapore's Abaxx Commodities Exchange thinks a new nickel sulphate contract could be the answer. The sulphate market has been forecast by research house Roskill to grow at an annual rate of 22% over the current decade as the green mobility revolution accelerates. China's imports of nickel sulphateTRADE BOOMChina's surging imports of nickel sulphate are a reflection of the product's stunning growth as battery cathode input. China's nickel imports by product 2020-2023PRICING PROBLEMSNone of this new Indonesia-China nickel trade has a natural exchange pricing home. LME nickel trading volumes have stabilised but are still running significantly below levels seen prior to the March 2022 trading halt.
Persons: Antara, It's, Roskill, Mike Harrison Organizations: PT Vale Indonesia, REUTERS Acquire, London Metal Exchange, Abaxx Commodities, Canadian, Technologies, Shanghai Futures Exchange, EV, Imports, China's, Class, Global Commodity Holdings, Reuters, Thomson Locations: Sorowako, South Sulawesi, Indonesia, China, Finland, South Africa, South Korea
Morgan Stanley names Dell a top pick Morgan Stanley said Dell is its new top pick in place of Apple after the company's earnings report on Thursday. " Bank of America reiterates Amazon as buy Bank of America is bullish on the company's partnership with Shopify. UBS reiterates Broadcom as buy UBS said in a note on Friday that Broadcom is a "prime" AI beneficiary. Baird downgrades PagerDuty to neutral from outperform Baird said shares are in the penalty box after Thursday's disappointing earnings report. Wedbush upgrades Papa John's to outperform from neutral Wedbush, in an upgrade of Papa John's , called the stock cheap.
Persons: Morgan Stanley, Apple, Dell, DELL, Tesla, Evercore, Needham, Goldman Sachs, Goldman, Eddie, Baird downgrades PagerDuty, Baird, Canaccord, Raymond James, Ferguson, Papa, Papa John's Organizations: Apple, DELL, SMRT, Bank of America, Shopify, Logistics, Service, Amazon Shipping, Citi, Holdings, Inc, JPMorgan, of America, Tesla's, UBS, Broadcom, TAP, Chevron, FedEx Locations: China
Our top 10 things to watch Thursday, Aug. 31 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. Marlena Sloss | Bloomberg | Getty ImagesOur top 10 things to watch Thursday, Aug. 31
Persons: we're, OKTA, CRWD, Stanley Black, Decker, Nvidia's, Jim Cramer's, Jim Cramer, Jim, Jan, Marlena Sloss Organizations: Broadcom, Dollar, Costco, UBS, Management, Nvidia, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: Washington, San Francisco
Salesforce — The cloud software company saw its stock jump 3% after it announced quarterly results and guidance that surpassed Wall Street's expectations. Dollar General — The discount retail chain plunged 12.2% Thursday after reporting second-quarter earnings per share of $2.13, which was lower than the StreetAccount consensus estimate of $2.47. Ciena — The network equipment stock surged nearly 16% after topping Wall Street's fiscal third-quarter earnings expectations on the top and bottom lines. Okta — Okta shares surged 13.5% after the access management company topped analysts' second-quarter earnings expectation and issued a strong full-year outlook. Victoria's Secret — The intimate apparel stock popped nearly 7% even after missing second-quarter earnings expectations on both the top and bottom lines.
Persons: Salesforce, Marc Benioff, CrowdStrike, Ciena, Morgan Stanley, Shopify, StreetAccount, Chewy, UGI, Raymond James, , Macheel, Sarah Min, Yun Li, Alex Harring, Michelle Fox, Pia Singh, Jesse Pound Organizations: Aphria Inc, U.S . Department of Health, Human Services, Tilray Brands, Cronos, Revenue, Technologies, Arista Networks, Citi, Refinitiv, StreetAccount, Signet, UBS — U.S, Suisse Locations: Leamington , Ontario, Switzerland
Swedish buy now, pay later firm Klarna reduced its losses by roughly 67% in the first half of 2023, as the company dramatically cut costs in a bid toward profitability. The company reported overall net operating income of 9.2 billion Swedish krona ($843.5 million), up 21% year-over-year. Failing to record a half-year profit, the firm posted a net loss of 2.1 billion Swedish krona for the period, down 67% from 6.4 billion krona between January to June 2022. Credit losses, a measure of how much the company sets aside for customer defaults, sank by 39% to 1.8 billion krona from 2.9 billion. Buy now, pay later, or BNPL, firms allow shoppers to defer payments to a later date or purchase things over installments on interest-free credit.
Persons: Klarna, Sebastian Siemiatkowski, Siemiatkowski, , OpenAI's, David Sandstrom Organizations: CNBC, PayPal Locations: Helsinki, Finland
The swaps allow exporters to place their dollars with banks and get yuan instead, but through a contract that will eventually reverse the flows and give them back their dollars. However, while they remove a much-needed source of dollar supplies into spot yuan markets, analysts reckon Chinese monetary authorities can't really force exporters to convert dollars. When exporters swap higher-yielding dollars for the cheaper yuan for even 3 months, they get local currency for business needs and also earn a pick-up of an annualised 3.5% on the swap deal. "By trading FX swaps, exporters can postpone their settlements while meeting their yuan demand," said Becky Liu, head of China macro strategy at Standard Chartered Bank. Exporters' swaps, meanwhile, give state banks a pile of dollars to use in their yuan operations, in which they can undertake swaps to acquire the dollars from the onshore forwards market and sell them in the spot market to stem fast yuan declines.
Persons: Dado Ruvic, Ding, Gary Ng, Becky Liu, Jindong Zhang, Winni Zhou, Tom Westbrook, Vidya Ranganathan, Kim Coghill Organizations: REUTERS, Rights, U.S, Federal Reserve, Asia Pacific, Traders, Administration of Foreign Exchange, Standard Chartered Bank, China Merchants Bank, Thomson Locations: Rights SHANGHAI, SINGAPORE, U.S, Shanghai, China, Natixis, Singapore
Shares of Shopify jumped as much as 9% in early trading Thursday after the Canadian e-commerce company said it struck a deal with Amazon to offer its "Buy with Prime" program to merchants. The companies announced late Wednesday that U.S.-based Shopify merchants will soon be able to access Amazon's Buy with Prime service, which allows them to add the Prime logo and offer Amazon's quick-turnaround delivery options on their storefronts. Members of Amazon's Prime loyalty club can check out using their Amazon accounts. Shopify President Harley Finkelstein later suggested the company was "in talks" with Amazon about integrating Buy with Prime on its platform. As part of the deal, Buy with Prime will be accessible via Shopify's checkout service, and transactions will be processed by Shopify Payments.
Persons: Shopify, Amazon, Harley Finkelstein Organizations: Amazon, Shopify Payments Locations: Ottawa , Ontario, Canada
Check out the companies making the biggest moves before the bell:Dollar General — The discount retailer tumbled 15.3% after reporting second-quarter earnings per share of $2.13, missing the StreetAccount consensus estimate of $2.47. Revenue also missed, coming in at $9.80 billion versus the $9.93 billion expected. Campbell Soup — Shares added about 1% after the company reported revenue of $2.07 billion, beating the $2.06 billion expected from analysts polled by Refinitiv. Second-quarter adjusted earnings per share came in at 31 cents, versus the 22 cents expected from analysts polled by Refinitiv. However, its revenue guidance for the third quarter of $2.74 billion to $2.76 billion fell short of the $2.79 billion expected from analysts, per StreetAccount.
Persons: Campbell, Shopify, Morgan Stanley, Salesforce, Goldman Sachs, Cronos, Tilray, Okta, SkyWest, Raymond James, Refinitiv, , Jesse Pound, Alex Harring Organizations: Revenue, Refinitiv, UBS — U.S, UBS, Cronos, Tilray, U.S . Department of Health, Human Services, Arista Networks, Citi, Arista, postmarket Locations: Austin , Texas, Swiss
Shopify says merchants can use Amazon's 'Buy with Prime' option
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +1 min
[1/2] The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal Rossignol Acquire Licensing RightsAug 30 (Reuters) - Canada's Shopify (SHOP.TO) said on Wednesday Amazon (AMZN.O) will release an app in Shopify's app ecosystem that will give US-based merchants access to Amazon's "Buy with Prime" option. "Soon, Shopify merchants who also use Amazon’s fulfillment network will have the option to add the Buy with Prime app from our app ecosystem directly into Shopify Checkout, processed by Shopify Payments," the company said. The company said the new app would enable Shopify merchants to give Prime members access to Prime benefits like fast and free delivery outside of Amazon.com for the first time ever. Merchants and businesses have been turning to Shopify, which offers tools to create and manage online store-fronts, as retail spending picks up on signs of stabilizing macroeconomic conditions.
Persons: Pascal Rossignol, Granth, Shailesh Organizations: REUTERS, Shopify, Merchants, Thomson Locations: Lauwin, France, Bengaluru
Visa, Mastercard plan to hike credit-card fees - WSJ
  + stars: | 2023-08-30 | by ( ) www.reuters.com   time to read: +1 min
[1/2] Credit card is seen in front of displayed Master Card logo in this illustration taken, July 15, 2021. The fee increases are scheduled to start in October and April, according to the report, which cited people familiar with the matter and documents viewed by the WSJ. Many of the fee increases are for online purchases, the WSJ said. Visa and Mastercard did not immediately respond to Reuters' requests for comment. Increases in fees merchants pay to card issuers are typically passed on to consumers, regulators have previously said.
Persons: Dado Ruvic, Pritam Biswas Organizations: REUTERS, Mastercard, Wall Street, Visa, Thomson Locations: Bengaluru
Fans can explore and buy exclusive products through a digital rendering of Drake's Toronto mansion. Shopify's latest tool allows the rap star to partner with other brands for unique merch drops. True to form, his approach has been a bit unconventional, with a flagship e-commerce site modeled off his $100 million Toronto mansion, The Embassy. Rather than scroll through the same-old grid of product listings, fans can explore various virtual rooms strewn about with items to buy, all powered by Shopify's e-commerce platform. Shopify Collective is one of several new business-to-business initiatives the company has announced recently, and on the earnings call Finkelstein highlighted the launch of dozens of new B2B features in the last year alone.
Persons: Drake, Everette Taylor, Harley Finkelstein, Finkelstein Organizations: Service, Shopify's Locations: Toronto, Wall, Silicon, Canadian, Embassy
Shopify is working on a customer support offering for enterprise merchants. In June, Shopify announced that its one-click checkout Shop Pay would be made available to non-Shopify enterprise merchants through Commerce Components. The 2023 version of the report evaluated Shopify Plus and ranked the platform at the top of its peers in terms of execution. Merchant success managers are Shopify employees who consult with Plus merchants about launching and running their online stores. They're often touted as a benefit that can help merchants "get the most value out of Shopify Plus."
Persons: Shopify, Staff Glen Worthington, Ken Wong, Oppenheimer, Wong, Harley Finkelstein, Kaz Nejatian Organizations: Staff, Mattel, Merchant, Shopify Locations: Canadian, Commerce
Revenue was 67.96 billion Chinese yuan ($9.33 billion), up 33.4% from 50.93 billion yuan posted in the same period a year ago. The firm also swung to profit of 4.69 billion Chinese yuan for the second quarter, compared to a loss of 1.11 billion Chinese yuan a year ago. Many merchants had to suspend their business, while consumers chose to stock packaged food instead of ordering fresh food delivery. Meituan leads China's food delivery market, holding almost 70% of the market share in the mainland, according to a 2022 report on Meituan. Besides food delivery, the tech firm also operates various services including ride-hailing, on-demand delivery, hotel and travel booking, movie ticketing, entertainment and lifestyle services.
Persons: Yan Cong, Wang Xing, Wang, Meituan, Doksuri, Xiaolin Chen, Chen, CNBC's, Pony.ai Organizations: Bloomberg, Getty, Revenue, Consumers, Hong, HK, Fitch Locations: Beijing, China, Yan, Hong Kong, Tianjin, Hebei, Shanxi, Henan, KraneShares
Brazil clears bottlenecks to oust US as top corn exporter
  + stars: | 2023-08-24 | by ( Ana Mano | ) www.reuters.com   time to read: +7 min
"We celebrated a lot... when (corn export) volumes via northern ports equaled Santos," said Sergio Mendes, head of Brazilian grain exporter group Anec. "By using northern ports... you are saving 20 reais ($4.12) per ton (of corn)." Treemap with data from Cargonave show the percentage share of corn exports of Brazil ports in north and south part of the country. CHEAPER ROUTE TO CHINAThe new export capacity has helped grains shipped from Brazil's northern ports to compete on logistics costs with U.S. farmers. "The greater share of shipments through northern ports reflects cheaper freight costs compared to routes to the ports in the south and southeast," said Thome Guth, a Conab official.
Persons: Adriano Machado, Sergio Mendes, Louis Dreyfus, Brazil's, Thiago Pera, Santos, ", Thome Guth, Ana Mano, Brad Haynes, Marguerita Choy Organizations: REUTERS, SAO PAULO, China, U.S, Cargill, Bunge, Louis Dreyfus Commodities, TCU, Shipping, U.S . Department of Agriculture, COFCO, Santos, Thomson Locations: Brasilia, Brazil, Santos, Ukraine, China, U.S, Northern, Madeira, Santarem, Barcarena, Itaqui, Canada, Argentina, Mato Grosso, CHINA, Iowa, Shanghai, Itacoatiara, Chicago, Para, Norte Sul, Tocantins, Goias, Minas Gerais, Mato
Discover Financial Services (DFS) stock surged 1.82% Thursday morning following an upgrade from Wolfe Research, to trade around $90 apiece. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. CNBC's Jim Cramer took issue with Wolfe's "very gutsy call," citing reports of Discover overcharging merchants for more than a decade. In the meantime, if you want a bargain, take advantage of Nvidia (NVDA) if the stock is down." The artificial-intelligence chipmaker, an Investing Club stock, reported another blowout quarter on Wednesday.
Persons: Jim Cramer's, CNBC's Jim Cramer, there's Organizations: Discover Financial Services, Wolfe Research, Discover, Nvidia, Club Locations: Discover overcharging
TikTok is shutting down its Shopify-integrated "storefronts" feature next month as it looks to control all aspects of in-app shopping and drive sellers to use its e-commerce platform, TikTok Shop. The tool let Shopify sellers sync product catalogs to TikTok where users could click on linked items to purchase them on Shopify. Purchases that happen on TikTok Shop aren't redirected to third-party platforms like Shopify, which means TikTok will have primary visibility into all aspects of the customer journey. Since TikTok Shop does not currently integrate with Shopify, Shopify could miss out on revenue if its merchants choose to set up shop with TikTok and direct sales there instead of their main Shopify store. However, Rick Watson, the CEO and founder of RMW Commerce Consulting, doesn't consider TikTok Shop too much of a threat to Shopify.
Persons: TikTok, Kylie Cosmetics, it's, It's, ByteDance, Shopify, influencers, Rick Watson, doesn't, Watson Organizations: Manly Bands, RMW Commerce Locations: China
BANGKOK, Aug 22 (Reuters) - When Thailand's deposed prime minister Thaksin Shinawatra went into self-imposed exile in 2008 facing a raft of corruption charges following his ouster in a military coup, he issued a hand-written note. Thaksin has been Thailand's most prominent politician for decades, retaining outsized influence despite the years away. "It closes a crucial chapter in Thailand's politics," Thitinan Pongsudhirak, a political scientist at Chulalongkorn University, said of Thaksin's return. A shrewd operator who rarely minces his words, an increasingly wealthy Thaksin entered politics in the mid-1990s, initially serving as foreign minister and then deputy prime minister. But the brash Thaksin, who called himself Thailand's first "CEO prime minister", faced royalist accusations that he was undermining the revered monarchy, which he denied.
Persons: Thailand's, Thaksin Shinawatra, Thaksin, Thaksin's, Yingluck Shinawatra, Critics, watchdogs, Chalinee, Chiang Mai, Love Thais, Devjyot Ghoshal, Chayut Setboonsarng, Panu, Robert Birsel Organizations: Thaksin, Chulalongkorn University, Thai, REUTERS, Rights, Shin Corporation, Thai Rak Thai, Singapore's Temasek, Premier League, Manchester City, Thomson Locations: BANGKOK, Bangkok, Thailand, Chiang, United States, Thai, Britain
About 16,000 Shopify Plus merchants will lose access to the company's merchant success managers. Merchants success managers are a key perk of the Shopify Plus subscription. Shopify plans to tell about 16,000 of its Plus merchants that they will no longer have direct access to merchant success managers, a key perk of the higher-priced subscription. Merchant success managers are Shopify employees who consult with Plus merchants about launching and running their online stores. They're often touted as a benefit that can help merchants "get the most value out of Shopify Plus."
Persons: Biss, Shopify Organizations: Merchant, Shopify
Pavlo Gonchar | Sopa Images | Lightrocket | Getty ImagesSpirits were high when Dutch payments firm Adyen floated on the Amsterdam Stock Exchange in 2018. The company was riding a wave of growth in Europe's technology sector and snapping up competition from its mega U.S. rival PayPal. Since then, the company has weathered a turbulent ride, including a global pandemic that knocked volumes from travel clients significantly. Company shares plummeted 39% on Thursday, erasing 18 billion euros ($39 billion) from Adyen's market capitalization, as investors dumped the stock after the firm reported its slowest revenue growth on record. Adyen has typically been viewed as a growth stock, after consistently reporting revenue growth of 26% each half-year period since its 2018 stock market debut.
Persons: Pavlo Gonchar, Adyen, Pieter van der, Arnout Schuijff, Ethan Tandowsky, CNBC's, Tandowsky, EBITDA, Simon Taylor, Taylor Organizations: Amsterdam Stock Exchange, PayPal, Company, CNBC, Netflix, Meta, Spotify, Enterprise, Financial Locations: North America
And you might even find that the best credit card for you isn’t even branded as a Disney credit card. The best credit cards for Disney World and Disneyland ticketsWhile there’s no one-size-fits-all credit card for Disney trips, there are a handful of good options. Ink Business Cash® Credit Card : Best for purchasing Disney gift cards. Fortunately, the 5% discount can be used for third-party gift cards sold at Target (not including Target gift cards). Disney Premier Card: Best for Disney park savingsThe Disney Premier card offers special discounts on merchandise for its card members.
Persons: you’re, Hopper, you’ll, Chase, that’s, we’ve, Mickey, Minnie, You’ll Organizations: CNN, American Express, Disney, Disney World, Mastercard, Capital, Target, American Airlines AAdvantage, United Airlines MileagePlus, Air Canada, Hyatt, Hyatt . Capital, Venture, Staples, BJ’s Wholesale, Sam’s, Ink, Wholesale, Citi, Disney Premier Locations: California, Paris, Tokyo, Shanghai, Hyatt ., DisneyPlus.com
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