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How New MiFID II research payment rules apply to sales and trading

“One of the featured areas where MiFID II is scheduled to shine is on the issue of research payments charged by financial institutions” reports financefeeds.com. As the old saying goes, advice “isn’t worth pinch of salt”, but MiFID II puts all of that on hold.From the beginning of 2018, payments for financial research will have to be reimbursed directly rather than through the traditional pathway of being included in transaction commissions.Despite the obvious objections to this move, it does appear that financial firms are sitting up and taking notice. Source: financefeeds.com…

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Basware Pairs Up With AcceptEasy For Streamlined AR

“Electronic invoicing company Basware is teaming up with bill payment company AcceptEasy to facilitate eInvoice presentment and payment acceptance for joint customers” reports pymnts.com. In a press release Thursday (Jan. 18), the companies said they are working together to help companies that send electronic invoices and need to accept payments from businesses and consumers. “Businesses send invoices to lots of consumer and small business customers,” said Basware senior vice president of network and financing services Mikko Pilkama in a statement. “These invoices can represent a high percentage of the total…

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Visa Taps PayMate To Enhance B2B Payments In India

“Visa is working with India B2B payments company PayMate to enhance its payment services for corporate customers, reports said Thursday (Jan. 18)” reports pymnts.com. Reports in Money Guru India said Visa has chosen PayMate to provide a B2B payment platform for joint customers, including small- and medium-sized businesses (SMBs) struggling with managing manual payment methods like checks and cash.The platform can enhance automation of processes like accounts payable, accounts receivable, eInvoicing and cash flow management, the firms said. “We are extremely pleased to partner with a global leader in the…

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Australia’s Late Payments Fight Shows The Limits Of Government Intervention

“But the late B2B payments problem is a global one, and while the U.K. explores how to approach the topic, there is another jurisdiction in which the late payments fight is heating up: Australia” reports pymnts.com. Xero and Amex described the nation’s late payments problem as “endemic” across the mid-market.Recent research from Australian small business accounting firm Xero and payments company American Express explored just how big of a stressor late invoice payments are on Australian companies.Australia’s Small Business and Family Enterprise Ombudsman (ASBFEO) Kate Carnell is one of the…

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Wells Fargo says resolved payment duplication glitch

“(Reuters) – Wells Fargo & Co said on Thursday it resolved an internal processing error that resulted in customers’ online bill payments being processed twice” reports businessinsider.com. “On January 17 an internal processing error caused temporary double posting of some items, impacting some customers.The issue was corrected overnight, and customers should now see their correct balances,” the company said in an emailed statement.The lender, which is embroiled in a long-lasting sales scandal, said any fees or charges that customers may have incurred as a result of the error would be…

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Apple’s U.S. tax payment does not change EU’s Irish tax ruling

“It is unclear whether Apple will be able to offset the Irish tax bill against the 15.5 percent U.S. tax on offshore tax piles” writes Min Read for reuters.com. Apple on Wednesday unveiled a $30 billion U.S. investment plan and said it would pay about $38 billion in foreign cash taxes.A spokesman for the Irish finance ministry also said it had no indication the U.S. tax payment would affect its recovery of the money. “Ireland has an obligation to recover (money) that is binding under EU law. Source: reuters.com Share This:

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10 ways to chip away at your student loan debt

“If you qualify, some of your student loan debt may be forgiven” writes Josh Smith for marketwatch.com. If all you want is to simply lower the monthly amount of your student loan payment, try refinancing through a different lender.Related: These surprising jobs can lead to student loan forgiveness If and when you can afford it, add $10-20 to each monthly payment you make.At the end of each month, calculate the money you didn’t spend on daily coffees (or other similar luxuries) and consider adding that amount to your student loan…

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Apple to Pay $38 Billion in One-Time Repatriation Tax

“The Apple tax is money owed on roughly $245 billion in overseas profits being repatriated under the recent tax overhaul bill signed into law by President Trump” writes Bryan Chaffin for macobserver.com. Apple said on Wednesday that it will pay US$38 billion in U.S. taxes in a one-time payment.Apple had already accounted for at least $36 billion for taxes on these overseas profits.But still, Apple is a huge beneficiary of the tax law.It also offered a one-time repatriation tax of 15.5% for the huge hoards of cash being held offshore…

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