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MADRID, Feb 7 (Reuters) – Sabadell (SABE.MC) has picked Italian payments group Nexi (NEXII.MI) as the preferred bidder to acquire the Spanish bank’s retailers’ payments business, two sources with knowledge of the matter said. Nexi prevailed over rival Worldline (WLN.PA) after it submitted an offer worth around 400 million euros, one of the sources said. The business that handles shopowners’ payments is a source of stable income for banks, but technology advances and tight competition in the sector require hefty investments, prompting an increasing number of banks to dispose of all or part of it. Under the deal, Sabadell would retain an exclusive right to commercialize loans or execute financial transactions with the customers whose payments are set to be handled externally. Spun-off banking assets such as the point of sale (POS) business are attractive for investors because they carry lucrative long-term contracts with buyers that will continue to provide the externalised service. In Spain, Sabadell has a strong presence in payments, accounting for nearly 16.9% of the country’s overall POS revenue generated as of September. Its retailers payments business recorded sales of 47.5 billion euros in 2022 compared to 35.7 billion euros in 2021.

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Amazon Small Business Accelerator is helping European entrepreneurs, and is aligned with EU policy initiatives for SMEs. It’s been two years since we launched our free online educational program, the Amazon Small Business Accelerator. What began as a direct response to help European start-ups and small and medium enterprises (SMEs) mitigate the impacts of the pandemic, has strengthened into an education tool to support any entrepreneur in building their business and developing digital skills to start selling both offline and online (on- or off-Amazon). It’s time to measure the impact of the program in the EU. We’re pleased to announce that the program has trained over 130,000 entrepreneurs over the last two years in Germany , France , Italy and Spain . To make this happen, we have invested over €7 million and worked with around 70 local partners to deliver not only e-learning content, but also dedicated events on key topics such as multi-channel commerce and building business resilience. The purpose of this program is in line with the policy objectives of the 2023 European Year of Skills , including helping SMEs to digitally transition by providing them with the relevant skills (the Digital Economy and Society Index […]

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Beyond popping up as talking heads on cable news, Wall Street analysts and economists serve an important purpose helping to guide the financial decisions of a wide array of investors — from average Americans worried about retirement to large institutions deciding where to put billions of dollars. At its best, Wall Street’s coterie of experts is supposed to translate the shifting sands of the economy into a cogent, useful investment view. I’ve been a sell-side economist for over 15 years, helping clients and the public understand the shape of the economy and what it means for the markets. I’ve always tried to be clear and allow the data to shape my thoughts , rather than fit it into my preconceived notions. But over the past few years, and especially since the onset of the coronavirus pandemic, I’ve noticed that more and more analysts are relying on low-quality, prepackaged narratives to drum up fear about the direction of the economy and stock market. Admittedly, stocks haven’t done well over the last year , but instead of providing clients and the general public with clear-eyed views, a new ecosystem of hackneyed, alarmist analysts is relying on low-quality data to push people […]

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What Business Owners Need To Know To Get Rich getty Have you ever dreamed of becoming a business owner and achieving wealth? It’s not an impossible dream. In fact, the right strategies and determination can help you become financially successful as a business owner. As a business owner, you have been gifted with an opportunity that can change you and your family’s lives. With the right approach and knowledge, you can use your business to build wealth by properly using available tools and resources from government governing bodies, professional advisors, or even online tools. The best thing about this position is that it offers tremendous freedom and flexibility to choose your way to succeed. You need to stay informed about the current market trends and keep up with the changing regulations to take advantage of all the lucrative opportunities. It’s not a get-rich-quick scheme, but with hard work, dedication and some fresh ideas, there’s no limit to what kind of wealth you can generate as a business owner. But what exactly does it take to get rich as a business owner? A plan for financial success The first step to building wealth as a business owner is having a […]

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The Federal Reserve Bank of Cleveland has named four Greater Cincinnati leaders to a locally focused business advisory council. The bank, one of 12 Federal Reserve banks around the country, has eight Business Advisory Councils, one in each of the eight metro areas in its district, including Cincinnati, Dayton, Cleveland and Columbus. The new members named to the Cincinnati Business Advisory Council are: Brendon Cull , president of the Cincinnati USA Regional Chamber Dil Gruffydd , CFO of the Cincinnati/Northern Kentucky International Airport Lisa Sampson , senior vice president at PNC Financial Services Group in Cincinnati and managing director of PNC Private Bank Barb Smith , president of Cincinnati-based Journey Steel The local council had nine members before the new additions. Cull highlighted the important role the council plays in the local economy. “The Business Advisory Council is one way the Federal Reserve works to stay connected to what’s happening with our region’s economy and how it is affecting businesses,” Cull told me. “I’m looking forward to bringing that perspective and to collaborating with business leaders in the region.” Sampson said the council “plays a vital role in helping understand the economic conditions and outlook for our region and […]

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Small business owners are nearly unanimous — the federal government should be doing more to tailor programs to small businesses. A new Goldman Sachs 10,000 Small Businesses Voices survey shows that 96% agreed with the idea the federal government should be doing more. About 70% of business owners gave the federal government a “C” grade or below on the effectiveness of its programs, services and tax credits, according to the survey. Additionally, 85% give the government the same bad grade for its efforts to communicate with small business owners about the essential resources and services available to them. So what is the solution? Overhauling the Small Business Administration, which 94% of small business owners said needed to be reauthorized by Congress and modernized. The last time the agency was officially reauthorized by Congress was in 2000. “During the pandemic, small businesses like mine had to innovate and remain nimble to survive and thrive,” Sydney Rieckhoff , owner of Almost Famous Popcorn with locations in Cedar Rapids and Des Moines, Iowa, and a member of the Goldman Sachs 10,000 Small Businesses Voices community, said in a press release announcing the survey results. “Unfortunately, the historic challenges presented by the pandemic […]

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CHILLICOTHE― As a child, Jennifer Szatkowski said she had family friends that would sell cotton candy at the Ross County Fair. She remembers standing on a milk crate to watch the cotton candy spinning. She never imagined she would be selling the sweet treat herself. Flossy Sweet Tooth puts a spin on cotton candy, featuring 30 unique flavors, including iced coffee, cinnamon, peach, birthday cake and more. Szatkowski said she wanted to master cotton candy to add something unique to Ross County. In addition to traditional cotton candy, Flossy’s also offers "Flossy Crunch," a condensed cotton candy similar to rock candy that features a variety of flavors in each piece that melts in your mouth. Szatkowski said you can also add the treat to your tea. Flossy’s also offer cotton candy cakes, a cake made completely of cotton candy and sprinkles that can be cut and served like a traditional cake. Recently launching in December, Szatkowski said she didn’t expect her first business to develop so quickly. She said partnerships with local businesses, like Hirsch’s Fruit Farm and High Five Cakes, helped spread the word about her new product. "How amazing is that for other small businesses to come […]

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getty The restaurant sector was among the most impacted during the Covid-19 pandemic as it faced strict social distance requirements, lengthy lockdowns and strict hygiene measures. These challenges, however, also forced owners to switch to digital solutions faster, speeding up what could have been a much longer process toward digitalization. Digitalization and process automation have helped many restaurants not only emerge from the crisis but also to step into a new development phase in post-crisis times. In fact, automation has been shown to help restaurants save money, reduce storage costs and deliver the freshest and highest quality food. In this article, I’ll look at how four digital technologies can help improve the way the hospitality industry does business and what those in the industry should know about implementation. Online Menus Previously, menus were only available in restaurants. During the pandemic, though, restaurants had to adhere to new hygiene rules and terms of engagement. Because of this, paper menus became rudimentary, and restaurants replaced paper menus with online versions. By combining UX/UI designers’ and restaurant art managers’ efforts, menus have become both more user friendly and accessible from anywhere via QR codes, Google Maps or the restaurant website. To maximize […]

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Copy This Embed Code: Ad The Kansas City Chiefs are making their third Super Bowl appearance in four years and the success of the team is driving up demand for Chiefs-inspired looks. “Anything that says Chiefs, even hats, or if it’s red, it is just flying out the doors," said Hannah Greer, store manager at Junque Drawer Boutique . The Olathe small business sells a variety of Chiefs and Kansas City items, but Greer says it’s hard to keep several of her products in stock as items continue to sell out fast. She says she’s routinely contacting local vendors to keep up with demand. “We come off Christmas and we expect a low sales volume, but the past three years have been four to five times what we normally do," Greer said. But some fans are deciding to integrate their love for the Chiefs in every day looks. Legends Outlets says retailers have noticed apparel and accessories in Chiefs colors are this season’s most sought out look. “Anytime Kansas City teams do well, especially our Chiefs, the Kansas City pride swells and it brings shoppers out," explained Stacy Scheelk, Property Manager for Legends. "Everyone wants to showcase the red […]

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Gary Fowler is a serial AI entrepreneur with numerous startups and an IPO. He is CEO and cofounder of GSDVS.com and Yva.ai. getty If you’ve checked any social media platforms, forums or publishers recently, you’ve likely seen how the entire media world has been inundated with ChatGPT reviews, explanations and use cases. The generative AI technology from OpenAI is taking the world by storm—and there is no stopping it. Now, you might ask me, “Gary, AI has been in the news for almost a decade now. How is this time different from any other time we’ve seen a new advancement in this technology glorified? The reality is this might be the very first time an AI technology of this sophistication has achieved mass adoption on the consumer level, making full strides toward becoming mainstream and fully integrated into the users’ daily lives. What this means is that if a business isn’t already considering ways to integrate GPT-3 technology into their workflows (in addition to testing new processes out), they are already falling behind. Simply ignoring how generative AI—from ChatGPT to DALL-E—has joined the global discourse is a large miss on any business’s behalf, and if there has ever been […]

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