Skip to main content

Financial/Banking

  • PayPay cancels expansion in North Carolina over new law

    PayPal announced it is cancelling plans to open a new operations center in North Carolina after the state passed a law that many see as restricting protections for lesbian, gay, bisexual and transgender people. The news comes as leaders of the High Point Market, the largest furnishings industry trade show in the world, warned that “hundreds and perhaps thousands” of customers will not attend the Market, held in High Point, North Carolina in April, due to their opposition to the new law. The Market attracts retailers, designers, suppliers and manufacturers.

  • Twenty-seven year Walgreens vet named to Fred’s executive team

    Fred's Inc. has appointed Rick Hans as executive VP and CFO. He fills the position left open when Jerry A. Shore, Fred's former finance head, was promoted to CEO in October 2014.

    Prior to joining Fred's, Hans enjoyed a 27-year career with Walgreens, where he most recently served as VP of investor relations and finance. Hans previously held the position of director of finance and assistant treasurer, where he promoted a sound capital structure that subsequently provided the basis for major strategic acquisitions.

  • Macy’s adds real estate expert to its exec team

    Amid ongoing pressure from investors to maximize the value of its real estate holdings, Macy’s has appointed Douglas W. Sesler as executive VP for real estate, effective April 5.

  • PREIT Sells four non-core malls for $92.35 million

    Philadelphia -- PREIT announced it has completed the sale of four additional non-core malls. This is a milestone achievement for the company that signifies the near-completion of non-core mall disposition effort with one remaining mall being marketed for sale.

    Mall disposition transactions include:
    • Lycoming Mall in Pennsdale, Pennsylvania, anchored by J.C. Penney, Sears, Bon-Ton and Macy's sold for $26.35 million.

  • Study: Chip cards show impressive growth

    Six months after the Oct. 1, 2015 deadline for migration to the Europay, MasterCard, Visa (EMV) chip-based payment card standard, retailers and consumers are demonstrating a fast rate of adoption.

    According to new data MasterCard has released on usage rates of its EMV-compliant payment cards, 67% of U.S.-issued MasterCard-branded consumer credit cards now feature chips. This represents a 51% increase in the number of consumer credit cards with chips in market since the Oct. 1, 2015 liability shift.

  • Walmart cardholders to get cash rewards

    Walmart is launching a new tool to give shoppers more reasons to use their Walmart credit and prepaid cards. 

    The retailer is rolling out a new, simplified rewards program to bring more value to the everyday purchases customers make using the Walmart family of credit and prepaid cards. Walmart's new 3-2-1 Save cash back program will provide all qualifying cardholders in the U.S. and Puerto Rico with the opportunity to earn rewards for purchases they make, including:

  • Walmart introduces hybrid loyalty program

    Walmart and its financial services partners have added a loyalty component to credit, debit and prepaid card offerings that provide an extra incentive to make online purchase.

  • No bonuses or pay hikes for Macy’s execs

    Macy’s CEO and other top executives are feeling the pain of the chain’s disappointment financial performance in 2015.
       
    The board decided to award no bonuses after the chain fell short of its sales, cash flow and earnings goals, Macy’s said in a regulatory filing, according to Bloomberg.

    Click here for more.

X
This ad will auto-close in 10 seconds