News 

Amazon paid no federal taxes on $11.2 billion in profits last year, according to group’s analysis

“That would place the company’s effective federal tax rate below the rate paid by the poorest 20 percent of American households, which had an effective federal tax rate of 1.5 percent in 2015, according to the Tax Policy Center” writes Christopher Ingraham for sun-sentinel.com. Like many other large companies, Amazon reduces its effective tax rate each year using a variety of credits, rebates and loopholes.That would represent nearly half of the total federal tax bill levied on the company’s profit of $11.2 billion, he said.It is the second year in…

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GBP News 

US prosecutors drag Darktrace into Autonomy fraud case

“The British cyber security company Darktrace has been pulled into the US fraud case against former Autonomy executives Mike Lynch and Sushovan Hussain” writes James Titcomb for telegraph.co.uk. FBI officials have interviewed the company’s chief executive Nicole Eagan as they investigate the links between Darktrace and Invoke Capital, Dr Lynch’s investment fund, according to court documents.US prosecutors are seeking to establish the wealth of Sushovan Hussain, Autonomy’s former finance chief, ahead of sentencing him for fraud charges over Hewlett Packard’s $11.8bn (£9.2bn) purchase of the British software company in 2011. Source:…

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News 

An HR exec says she gets excited every time a job candidate asks her a simple question about learning on the job

“But it’s hardly out-of-line to ask the hiring manager to explain how the company invests in employees” writes Shana Lebowitz for businessinsider.com. In fact, if you ask Lillian Landrum, director of talent acquisition at The Muse, you should ask the hiring manager about opportunities for professional development.”When people start asking those questions around how do we invest in growing our employees here, that gets me excited,” she said.Asking about company perks in a job interview might seem presumptuous — you don’t want to give the impression that you’re there for…

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Crypto News 

Netpay to Integrate Blockchain, Report

“According to the report, Netpay aims to migrate to using blockchain technology in order to reduce its operating costs” reports mybitcoinnews.co. Major international payment solutions company Netpay has reportedly partnered up with an Israeli-based firm to integrate blockchain-based technology in its services.It runs on blockchain technology but it takes advantage of existing institutional remittance infrastructure amid banks such as the networks of SWIFT and SEPA to maintain KYC/AML requirements.Netpay, an international payment processing company, has partnered up with BNC LedgerTech to provide blockchain-based services to its broad user base, according…

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News 

ScaleFactor Launches Android App For Real-Time Accounting

“Corporate accounting platform ScaleFactor is rolling out its Android app for business professionals to gain real-time visibility into company finances” reports pymnts.com. Research released in 2017 from Intuit found accountants cite a lack of proper record-keeping as the biggest accounting mistake that small businesses make.The app is already available on the iOS App Store and Google Play, the company noted.The app supports multi-entity login for professionals with more than one business, and alerts users when action needs to be taken.The company is introducing its Android app to link small business…

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Markets News 

CloudTrade Steps Into Freight Invoicing Market

“Electronic invoicing and data capture company CloudTrade is rolling out a new solution designed for the logistics and freight industry, the company revealed this week” reports pymnts.com. The CloudTrade platform automatically extracts the necessary data and integrates the information into an existing transportation management system, payment platform and other back-office portals.Any of these documents can be used to integrate key supply chain data for improved landed costs analysis and reporting analytics.” Hatfield added that the solution leverages companies’ existing back-office technologies, allowing buyers or receivers to get freight invoices in…

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News 

SMB Challenger Banks A Hot Spot With VCs

“OakNorth plans to use the investment to launch its Analytical Intelligence platform with more banks and lenders across the globe” reports pymnts.com. The U.K. challenger banking market saw a flurry of venture capital (VC) activity this week, as FinTech firms aim to disrupt small business (SMB) financial services (FinServ).Goldman Sachs led the way for small business credit platform Nav to land $44 million in new funding, reports said this week.The company announced a $30 million Series B investment round this week, led by Accel, said reports in Fortune. Source: pymnts.com

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News 

Documents show how Google used shell companies to keep datacenter negotiations quiet

“In 2016, Facebook used a shell company called Greater Kudu LLC in negotiations for a datacenter in New Mexico” writes Anna Hensel for venturebeat.com. Apple and Microsoft, example, have also used codenames in the past when negotiating with local officials in municipalities they intend to build datacenters in. Source: venturebeat.com

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