Mon. Nov 29th, 2021

News

LONDON (Reuters) – Euro zone business activity contracted sharply this month as renewed lockdowns forced many firms in the bloc’s dominant service industry to close temporarily, although news of possible vaccines boosted hopes for 2021, surveys showed on Monday.

The bloc’s economy is on track for its first double-dip recession in nearly a decade as a second wave of the coronavirus sweeps across Europe, a Reuters poll suggested last week. But on Monday, Britain’s AstraZeneca said its vaccine could be around 90% effective without any serious side effects.

Pfizer and Moderna have also developed apparently effective vaccines and Monday’s Purchasing Managers’ Index (PMI) showed optimism about the year ahead improving to its highest since before the pandemic hit the continent.

Still, IHS Markit’s headline flash composite PMI, seen as a good guide to economic health, fell to 45.1 in November from October’s 50.0 – the level separating growth from contraction.

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PRATT — Adversity can sometimes lead to opportunity as COVID circumstances did for Jorja Elliott, culminating in the opening of Elliott Plant Shop at 602 ½ East First Street in Pratt. Her enterprise is open online as well, a business she runs through her Elliott Plant Shop page on Facebook where she posts current availability of plants, allowing customers to shop from home and utilize her delivery service.

A graduate of Pratt High School, Elliott is in her fourth and final year at Fort Hays State University, which she began in fall of 2017, majoring in plant biology. She attended the Kansas Academy of Mathematics and Science (KAMS) Early College Program at Fort Hays State University, beginning in the fall of 2017.

Last summer Elliott was an intern at Heartland Plant Innovations plant research facility, Manhattan, Kans.

“It was during my studies and work at this research facility that I

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SINGAPORE (THE BUSINESS TIMES) – Broadway Industrial Group on Nov 17 received a draft binding letter of intent from a potential buyer to acquire its hard disk drive business.

At the time, the company was “confident” an agreement would follow, and thus requested a trading halt on Nov 18 morning to prevent any unusual trading activity which may result from any potential leaks of a possible transaction.

However, further negotiations with the potential buyer were required, and thus no binding agreement has been reached yet, Broadway Industrial said in a bourse filing on Sunday night.

The mainboard-listed precision manufacturer added that it remains in negotiations with the potential buyer for a possible transaction.

Broadway Industrial lifted the trading halt on Monday before market open. The stock rose 0.1 cent or 0.8 per cent to trade at 12.2 cents as at 11.25am, after 7.6 million shares changed hands.

On May 28,

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NEW YORK, Nov. 20, 2020 /PRNewswire/ — iQSTEL, Inc. (OTC: IQST) (“iQSTEL”), an international telecommunication and fintech service provider, today confirmed the new Visa Prepaid Debit Card Service (PDCS) the company announced yesterday is expected to generate estimated revenue over five years of $45 million to $128 million with an approximate EBITDA margin of 30% to 40%.

 

 

Yesterday, IQST announced entering into an agreement with Payment Virtual Mobile Solutions, LLC (PayVMS) to build a PDCS.  The new PDCS will be constructed under a new corporation named Global Money One, Inc. (www.globalmoneyone.com). iQSTEL will own 75% of Global Money One, Inc. with PayVMS owning the other 25%.

PDCS is expected to enable customers to make purchases in stores and online, withdraw cash at ATMs or receive cash back when using it to make a purchase, recharge prepaid mobile phone service (domestic and international), and send money domestically or internationally. PDCS

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Today in B2B payments: Visa collaborates to open up small business banking data, while Mastercard drives commercial card adoption across the MEA region. Plus, American Express eyes social media shoutouts for small firms, Veem launches a domestic B2B payments tool and Billtrust embraces machine learning.

Visa, Codat Partner on Providing Data for SMBs

Codat, the financial API provider, is working with Visa to offer more comprehensive data on small to medium-sized businesses (SMBs) for European banks, Codat announced in a Wednesday (Nov. 18) press release. Visa will aid Codat in expanding its single API to help business data flow better between FinTechs, SMBs and other companies in need. Banks and lenders will be able to access the partnership to get more holistic financial profiles in less time.

Mastercard, Network International to Introduce Commercial Cards in MEA

Mastercard is teaming up with Network International,

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ST. LOUIS (KMOV.com) — As COVID-19 cases rise again, there’s growing concern over whether many small businesses will be able to survive the pandemic.

We’re moving into a crucial time of year for them and now there’s a push to help small businesses stay alive.

Donna Overy, the owner of Naturally Inspired Gifts in Kirkwood, said she normally puts together custom gift baskets for corporate but hasn’t really been able to this year because of the pandemic and people working from home, not the office. 

Like a lot of businesses she’s been a struggle this year. Business is down 50%.

“Putting me way behind, just trying to get people to come in,” Overy said. “Nowadays people just don’t want to come out.”

Some stores have upped their online presence. They’re offering deals to get people in the door and those we spoke with say they’re providing a safe environment for

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Dubai — Tally Solutions has launched TallyPrime, a next-generation business management software. TallyPrime will equip MSME owners and new-age entrepreneurs with an ultra-simple and powerful software to enhance their business productivity.

Tally aims to further simplify business management with TallyPrime, facilitating users to comfortably manage and grow their business without needing to know the finer nuances of accounting or technology. The product meticulously designed keeping the user experience at core, will enrich the legendry speed, simplicity and flexibility of the product.

Vikas Panchal, business head for the Middle East at Tally Solutions, said: “With the launch of TallyPrime, we aim to further our resolve to assist our current customers and reach out to millions more in their journey towards growth.

This pandemic has not been easy for the GCC business community, but they have shown tremendous perseverance and resilience. We are optimistic that things will emerge better in the future

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Stocks opened lower Friday after the U.S. Treasury moved to end some coronavirus pandemic lending programs given to the Federal Reserve that the central bank considered “essential.”

All three of the major averages were trading lower by around 0.1% in early trading.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 29440.95 -42.28 -0.14%
SP500 S&P 500 3577.48 -4.39 -0.12%
I:COMP NASDAQ COMPOSITE INDEX 11882.803909 -21.91 -0.18%

Treasury Secretary Steven Mnuchin wrote a letter to Fed Chairman Jerome Powell, asking the Fed to return the unused $455 billion given to it under the CARES Act to help the struggling U.S. economy.

The move was not expected by Fed officials, who immediately told Mnuchin the programs should be extended after Mnuchin’s letter was made public.

STOCKS SHRUG OFF LOSSES, TECH AND ENERGY LED TURNAROUND

COVID ACCELERATING

Cases

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BEIJING (Reuters) – Over 60% of American businesses in China are more optimistic about doing business in China after the results of the United States presidential election, according to a business group survey released on Friday.

However, nearly one third of companies believed China-U.S. trade tensions will continue indefinitely, according to a survey of 124 companies by the American Chamber of Commerce in Shanghai, which also found that 33% of company heads are concerned for the personal safety of employees in China as a result of exit bans or detentions.

Most respondents to the survey, which was conducted on Nov. 11-15, did not expect trade restrictions or tariffs to increase. Companies also showed increased optimism on expected 2020 revenues compared to a July survey.

“Despite optimistic expectations for a better US-China business environment under a Biden administration, China should make reassurances to US companies in order to continue attracting US

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By MICHAEL R. SISAK and DAVID B. CARUSO, Associated Press

NEW YORK (AP) — New York’s attorney general has sent a subpoena to the Trump Organization for records related to consulting fees paid to Ivanka Trump as part of a broad civil investigation into the president’s business dealings, a law enforcement official said Thursday.

The New York Times, citing anonymous sources, reported that a similar subpoena was sent to President Donald Trump’s company by the Manhattan district attorney, which is conducting a parallel criminal probe.

The Associated Press could not immediately independently confirm the district attorney’s subpoena but the one sent by Attorney General Letitia James was described by an official briefed on the investigation who spoke on condition of anonymity.

The records requests followed recent reporting in The Times, based partly on two decades’ worth of Trump’s tax filings, that the president had reduced his company’s income tax liability

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