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Macy’s Recognizes $3.1B Charge As Pandemic Reshapes Outlook

PYMNTS

billion non-cash goodwill charge before tax, as the retailer’s long-haul forecast and market capitalization shifted, mainly due to the coronavirus health crisis. Gennette also said the company does not expect another complete closure, but is “staying flexible” and is “prepared to address increases in cases on a regional level.”.

Taxes 232
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Climate and capital: some outstanding issues

BankUnderground

There is a lively debate about whether and how capital regulations for banks and insurers should be adjusted in response to climate change. Incorporating climate-related risks into the capital regime will require a reliable methodology to measure these risks. Marco Bardoscia, Benjamin Guin and Misa Tanaka.

Capital 130
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What Relationship Pricing Means for Bank Performance

South State Correspondent

The Issue with Relationship Pricing and Profitability The US banking industry has been unable to consistently earn a return on capital equal to its average cost (approximately 11% over the last few decades). Banks can then calculate SVA by subtracting their cost of capital from net operating profit after tax for each client.

Resources 195
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UK Election Puts Big Tech Digital Tax On Hold

PYMNTS

have resulted in a delay for legislation that is now in draft form, which would include a provision to tax larger tech firms that derive sales from the region. The bill has proposed a 2 percent tax on revenues for firms as diverse as Facebook and Amazon. Looking At First-Time Payments. Separately, but also in the U.K.,

Taxes 101
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Growing your firm’s advisory services: Financial management

Abrigo

The transition from compliance to consulting makes sense: tax season is just that, a “season,” and nearly 60 percent of respondents to a Sageworks survey indicated they saw an increase in total revenue by adding financial services to their accounting practice. The advantage of working capital is obvious to some degree.

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Relationship Pricing is Key to Performance

South State Correspondent

We feel that banks must measure profitability at the customer, product, branch, region, or manager level so that management may properly allocate resources (superior service) to drive institutional profitability. In banking, this disconnect is hurting institutional performance as relationship pricing is not optimized.

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Virtual Cards and Straight-Through Processing Set To Level B2B Playing Field

PYMNTS

He added that STP smooths the supplier-onboarding process, as data about firms such as tax IDs, beneficiary owners and of course bank account details can be submitted digitally. That became even easier for all parties, where straight-through processing was possible in any market or region — and especially across borders.

Cards 262