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Metro Bank Plunges on Misclassified Assets, Capital Concern

Bank Innovation

Metro Bank Plc fell the most since going public after applying an incorrectly low-risk weighting to parts of its loan book, with the British lender’s chief saying he doesn’t know how long the mortgages in question had been wrongly classified. The shares plunged as much as 34 percent Wednesday and the bank’s bonds also fell […].

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Metro Bank’s rescue, digital plans

BankInovation

Metro Bank is considering growth strategies and digital investment plans following a tumultuous month that nearly ended in a collapse similar to Silicon Valley Bank’s downfall in the spring. Last week, the London-based bank’s stock plummeted 30% and talks of a necessary capital raise and potential sale swirled.

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Popular Bank Implements Branch Realignment in the New York Metro Region to Enhance Focus on Communities and Small Business Support

PopularBank

Popular”) (NASDAQ: BPOP), bank holding company of Popular Bank, today announced Popular Bank’s strategic realignment of its New York Metro branch network. This realignment in our New York Metro market is consistent with our small business and retail services model in South Florida,” said Popular, Inc. New York Metro.

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Retail Pulse: Walmart Tests ‘Great Workplace,’ Sainsbury’s Opens Cashierless Store

PYMNTS

Brick-and-mortar retailers are changing the way they manage their workforces in the age of Amazon: Walmart , for instance, is testing multiple versions of a new team structure called the “Great Workplace” in some of its locations. At the same time, it was reported that Walmart plans to employ $11 billion in capital expenditures this year.

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Black Friday Heads Toward Shades Of Gray

PYMNTS

By the time retailers get to Black Friday , they will have worked through almost two months of sales events – both proprietary and otherwise – from competitors ranging from Amazon to Target to Walmart. COVID-19 shows no signs of abating – in fact, fears of a second wave have already hit New York City, among other metro areas.

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Online B2B Marketplaces See New Funding Rounds 

PYMNTS

million in venture capital. As reported by The Business Times , in Singapore, Tin Men Capital, a venture capital firm focused on B2B tech startups, led a $5 million Series A funding round to invest in RateIt. The company has expanded from Australia to southeast Asia and clients include Lego, Metro, Pandora and others.

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Hainan Golden Raises $141M In Funding Round Led By Tencent

PYMNTS

Shenzhen Capital Group Co., and China Finance Fund — as well as existing investors Hillhouse Capital, Wanda Group, Prometheus Capital and IDG Capital — all participated in the funding round. Hainan Golden Technology Co. CDH Investments, China Investment Corp. billion.