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Market Extra: Here’s why U.S. struggles with the coronavirus could lead to Europe’s stock market taking the lead

A growing number of prominent Wall Street institutions are making the prediction that 2020 will be the year for Europe’s stock market to outshine its U.S. counterpart as the coronavirus takes diverging tracks in the two economic powerhouses. Even as the U.S. struggles to curb the deadly COVID-19 disease, the virus hasn’t seen a resurgence in the eurozone, influencing how money managers see their respective paths of recovery. Barclays, BlackRock and other banks are now advising investors to lift their holdings of…

Société Générale to acquire French neobank Shine

Société Générale is set to acquire Shine, a French challenger banking service for freelancers and small businesses. The size of the acquisition is currently unconfirmed. TechCrunch reports an all-cash deal of around €100 million ($112.6 million) but has since updated its report to say Société Générale has disputed this price. The fintech runs on Treezor, the banking-as-a-service (BaaS) subsidiary of Société Générale group TechCrunch sources also say that the bank is paying in tranches which will eventually make up €100…

Webinar: Stop wasting money in the cloud!

This free session will showcase Robert Half International’s (RHI) efforts to develop an internal quarterly business review (QBR) process to reduce cloud expenses and to apply cost optimisation best practices across the enterprise. The webinar will take place on 7 July 2020, 11am BST Expanding upon the CloudHealth QBR process, the Robert Half Cloud Centre of Excellence has developed a repeatable process for identifying cost saving opportunities and ensuring that action is taken on them. This session will provide information…

Living in a passive voice world

My frustration with organisations big and small “living in the passive voice” is not new Don’t think for a second I don’t see you. All of you. Decision makers, one and all, acting like you are the intern. Feeling like you are the intern. Speaking of higher forces, layers of authority above you, opaque dependencies. Deferred responsibility. When vision, a hard and bold decision, impetus is required inside the bank, there is always another layer above, tying your hands. And isn’t that convenient? Who are they, anyway?…

The July 15 tax deadline is almost here — here’s one reason not to worry if you’re dreading it

Americans are approximately two weeks away from the filing deadline in this prolonged tax season and the Internal Revenue Service has received 6.3 million fewer returns than the same point last year, when the filing deadline had come and gone. Here’s a potential bright spot for anyone dreading the July 15 filing deadline: There’s still a good chance they have a refund waiting for them, according to experts studying their own client files and IRS statistics. H&R Block HRB, -1.96%…

Tax Guy: Making sense of the new July 15 deadline for filing — and paying — your taxes

As a COVID-19 federal tax relief measure, the IRS postponed to July 15 many of the usual tax filing and payment deadlines and the deadlines for taking certain other tax-related actions. While this deadline relief is welcome, it has created confusion. We aim to dispel that confusion. Here goes. July 15 deadline for individual tax actions Assuming you use the calendar year for tax purposes (as almost all individual taxpayers do), July 15 is the revised deadline for the following actions. 1. Filing your 2019…

BookWatch: More people see ‘value’ and ‘quality’ in a brand’s politics — not products — as Facebook and other companies are learning

Consumer brands across all categories are now in the spotlight as to where they stand on social issues. First, the pandemic hit, and brands scrambled to strike the right tone in these “unprecedented times.” Then, just as businesses were starting to get back to their regularly scheduled marketing, the wave of long-overdue protests and conversations began in support of Black Lives Matter. Every brand has faced critical decisions: about the role they should play, and the steps they need to take. Brands that never set…

ING Belgium deploys Minna Technologies’ subscription manager

ING’s Belgium banking arm has deployed Minna Technologies’ subscription management solution. The Swedish start-up, founded in 2016, claims to have saved users more than €40 million For Swedish fintech start-up Minna, this is its first Belgium roll out. ING joins existing clients Danske Bank, Sparebank1 and OP Financial Group. ING Belgium has roughly 1.8 million digital banking customers. Today the bank announced its CEO, Erik Van Den Eynden, a 30-year ING veteran, was leaving the bank on 1 October 2020. Van Den Eynden…

Santander looks to William Vereker for UK chairman role

Santander is set to name, William Vereker, as its new UK chairman, reports the Financial Times. The appointment is expected to be approved later this week Vereker, who once worked as a business envoy for former prime minister Theresa May, joined JP Morgan five months ago. He will replace Shriti Vadera when she steps down from her role to take up a position as chair of British Insurer Prudential. According to Financial Times sources, the appointment is expected to receive regulatory approval by the end of the week. Vereker is…

Banks must deploy AI with urgency to save SMEs amid COVID-19

Government-led funding programmes are a vital pillar of support amid the current coronavirus (COVID-19) crisis. However, their effectiveness relies heavily on the ability of lenders to qualify, process and issue loans at speed. Current evidence suggests this speed and efficiency is not always at the required level. The rate of completed applications under the Coronavirus Business Interruption Loan Scheme (CBILS) has been widely criticised, and the newer Bounce Back Loans scheme has seen banks overwhelmed by skyrocketing loan…