Toys R Us’ Surprisingly Sexy Inventory Auction

PYMNTS

When now bankrupt Toys R Us puts its assets on the auction block next month, some expected things will be up for sale — like the toy and game retailer’s internationally recognized mascot Geoffrey the Giraffe, according to recent CNBC reports. Toys R Us owns those names to prevent other firms from using them — and from encroaching on its brand. Not all the choices Toys R Us claimed were racy in nature. The ‘R Us’ is the key to the brand, not the Toys.”.

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Some US Toys R Us Locations Could Survive After Canadian Company’s $234M Bid

PYMNTS

There might be hope for Toys R Us , with a Toronto-based company looking to save some locations in both Canada and the U.S. Last Tuesday (April 24), Toys R Us agreed to sell its Canadian business — which consists of 82 stores — to Fairfax Financial Holdings Limited for around $234 million in a bankruptcy court hearing. Those stores might retain the Toys R Us name.

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Toys R Us Stops eCommerce Sales

PYMNTS

As Toys R Us winds down its operations, it is no longer accepting eCommerce orders through its website. Instead, the retailer is directing customers to liquidation sales at its brick-and-mortar stores for both its namesake and Babies R Us brands, industry news source Chain St ore Age reported. Only a small number of the 800 U.S. Toys R Us stores were headed to auction.

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Toys R Us Eyes Liquidation Of US Operations

PYMNTS

Beleaguered toy retailer Toys R Us is in the midst of prepping plans to liquidate its U.S. Toys R Us’ situation is in flux, but reports say liquidation seems a likelihood amid dashed hopes that a buyer will come to keep the (toy) trains running, so to speak, or that the debt will be repackaged. As has been widely reported, the U.S. Toys R Us managed to garner a $3.1 Retail bankruptcy brick and mortar News store closings toy industry Toys R Us What's Hot

US Government Could Scrutinize US/Chinese Tech Partnerships

PYMNTS

The alliances between U.S. and Chinese companies in the area of artificial intelligence (AI) could receive greater scrutiny by the U.S. The U.S. But if there was an effort to end partnerships between Chinese and U.S.-based Additionally, Chinese companies and institutions are big customers of these technology companies, and top talent in high-tech areas like AI and chip design is shared between companies and universities in China and the U.S. “I

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US Bank Mobilizes Mastercard Corporate Cards

PYMNTS

In a press release , U.S. Our clients who have adopted mobile commercial payments are responding with great enthusiasm to its use for business travel,” said Jeff Rankin, U.S. Mastercard is pleased to join forces with U.S. According to U.S. In an interview with PYMNTS last year, U.S. B2B Payments B2B business travel Commercial Card credit card MasterCard Mobile Payments News US Bank What's Hot In B2B

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U.S. Bank Announces Amazon Alexa Integration

Bank Innovation

EXCLUSIVE- U.S. The Minneapolis-based bank ran an employee pilot over the summer and initiated work on the Alexa skill earlier in 2017, said Gareth Gaston, executive vice president and head of omnichannel banking at U.S. […].

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The Show Will Go On For Toys R Us Stores Outside The US

PYMNTS

Bankruptcy may not spell the end for Toys R Us stores – at least outside of the U.S. Toys R Us agreed to sell its Canadian business, which consists of 82 stores, to Fairfax Financial Holdings Limited for around $234 million dollars in a bankruptcy court hearing on Tuesday (April 24). Those stores might retain the Toys R Us name. The company’s co-founder, Tony Smyth, is optimistic about the opportunity that the Toys R Us deal presents. “We The Toys R Us Saga.

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US Household Debt Spikes In Q4 2017

PYMNTS

Reuters, citing the Federal Reserve Bank of New York, reported that household debt for the U.S. Debt Consumer Debt federal reserve household debt News Overdue Bills Q4 U.S. debt U.S. Thanks in part to a rising number of mortgage loans, the debt levels of Americans increased during the last three months of 2017. hit $13.15 trillion in the fourth quarter ending in December, which is a $193 billion increase from the third quarter.

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Chip-Enabled Merchants Reach 2.9M In U.S.

PYMNTS

Visa announced that the growing number of chip cards and chip-enabled merchants has helped bring counterfeit fraud in the U.S. Visa set the path for the U.S. One of the leading factors was that chip technology is extremely effective in reducing counterfeit fraud, which was the leading type of fraud in the U.S. million merchant locations are now accepting chip-enabled cards — a 626 percent increase since the beginning of EMV migration in the U.S. The data shows the U.S.

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Majority Of Company Leaders, Employees Leaving Toys R Us

PYMNTS

Toys R Us CEO Dave Brandon — along with other members of the leadership team and the majority of employees—are leaving the company. In addition, the roughly 30,000 Toys R Us employees who lost their jobs due to the retailer’s liquidation are requesting that the company pay its workers severance, using the proceeds from fees and other payments made to its private equity owners. ” However, there is hope for some stores in the U.S.

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Toys R Us Moves Toward Asset Liquidation

PYMNTS

The end, it seems, is near as far as Toys R Us is concerned, as reports are emerging that the liquidation of the retailer’s assets may be coming soon. The end of Toys R Us signals more than just the disappearance of yet another once iconic American brand. Toy retailers could soon feel the hit as well, as Toys R Us has been a major supply channel for all make and manner of items designed to amuse children. The company accounted for 15 to 20 percent of U.S.

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Suppliers Are Unhappy With Toys R Us’ Bankruptcy Proceedings

PYMNTS

While Toys R Us said that it would try to honor its payments to suppliers and lenders, over 50 suppliers, such as Lego and Mattel , are not happy with the company’s current bankruptcy proceedings — at least in some form. Toys R Us also bought goods on unsecured trade credit, so some of its trade vendors want the retailer to send back unpaid inventory. The news comes as the retailer will either sell or shutter all of its brick-and-mortar stores in the U.S. Beyond the U.S.,

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Bill To Ease Regulation on Smaller FIs Before U.S. House

PYMNTS

A bill that would give regional banks a break on regulation was before the U.S. As of late Tuesday afternoon, the bill, which has passed the U.S. Senate, had yet to undergo a vote in the U.S. Criticism to the bill came Tuesday from the U.S. Bank Regulation Bank Innovation bank regulation credit unions regional banks U.S.

Lidl Names New US CEO

PYMNTS

I am honored to be able to lead our expansion in the U.S., Lidl made its first entry into the U.S. Growth plans that were initially slated to be highly aggressive have since pulled back, as conditions on the ground in the U.S. Lidl’s entrance coincided with the early days of the grocery war raging in the U.S.,

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Toys R Us Bankruptcy Hits Hasbro’s Sales

PYMNTS

After failing to meet Wall Street’s expectations, Hasbro blamed the Toys R Us bankruptcy for a drop in revenues in the first quarter. The news comes as lawyers and advisers for Toys R Us have reportedly turned down a last-minute bid for the retailer’s U.S. Larian had made an offer of $675 million for the Toys R Us stores in the U.S. Advisers and lawyers for Toys R Us are still reportedly looking at bids for the retailer’s business in Canada.

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U.S. Bank Wants To Remove Passwords From Login in 2017

Bank Innovation

Biometrics and behavioral analytics are taking over banking apps for good, and U.S. Corporate Operations Technology authentication behavioral analytics cybersecurity US Bank

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US Bank Pays Justice Department $613M For Money Laundering Settlement

PYMNTS

Bank was slapped with a $185 million civil penalty for what the Financial Crimes Enforcement Network (FinCEN), in coordination with the Office of the Comptroller of the Currency (OCC) and the U.S. According to a press release, FinCEN said the obligation will be satisfied by a $70 million payment from U.S. Bank to the U.S. Since 2011, FinCEN claimed U.S. Banks in the U.S. FinCEN, the OCC and the DOJ contend that U.S.

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Walmart Presents A Ten-Point Plan To Renew U.S. Manufacturing

PYMNTS

Walmart announced news on Wednesday (July 26) that it had convened a broad group of individuals and organizations from the government, business and non-governmental sectors to lobby for a Policy Roadmap to Renew U.S. The good news is we’ve also learned how to overcome the challenges and, because of our experience, Walmart is uniquely positioned to help facilitate broad engagement in accelerating the expansion of U.S. million jobs being added in the U.S. Enhancing U.S.

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Toys R Us Will Create $156M Vendor Fund

PYMNTS

To pay vendors for merchandise shipped after its bankruptcy filing in September , a lawyer for Toys R Us said the embattled retailer will create a $156 million fund. It’s a really hard pill to swallow,” Erika Morabito, a lawyer for a group of trade vendors, said at a U.S. The news comes as lawyers and advisers for Toys R Us have reportedly turned down a last-minute bid for the retailer’s U.S. Larian had made an offer of $675 million for the Toys R Us stores in the U.S.

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Contactless Payments Set To Explode In US

PYMNTS

Contactless credit cards have seen a slow rate of adoption in the U.S., According to a report by The New York Times , use of mobile wallets, including Apple Pay and Samsung Pay, is also growing in the U.S. Citing data from ABI Research, NYT reported annual shipments of contactless cards in the U.S. The U.S. Payment Methods contactless payments uk us

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FirstCaribbean Wants $100M In US IPO

PYMNTS

FirstCaribbean International Bank is planning to raise $100 million through its initial public offering (IPO) in the U.S., An F-1 registration statement revealed the bank’s plans for an IPO in the U.S., Other IPOs in the U.S. Last month, Zuora also revealed plans to raise $100 million via a U.S. Reports said 159 companies went public in the U.S.

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Toys R Us Pain Could Be Gain For The Children’s Place

PYMNTS

In the case of the massive Toys R Us bankruptcy, children’s apparel retailer The Children’s Place could end up unexpectedly on the winner’s list. Riley FBR put out a report earlier this week saying that Babies R Us being suddenly out of the market means The Children’s Place has a chance to add as much as 2 percent to its revenue. Other bands (smaller and less well-known players), she noted, will likely suffer through the liquidation of Toys R Us.

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Weak Holiday Sales Pressure Toys R Us To Close 100 Stores

PYMNTS

Embattled toy and game retailer Toys R Us may close 100 U.S. Toys R Us operated 879 U.S. Final decisions about our real estate portfolio will be done only after careful consideration about the best interests of our business,” said Toys R Us spokeswoman Amy von Walter. Toys R Us received a $3.1 A closure of Toys R Us locations would impact suppliers like toymakers Hasbro and Mattel, both of which saw session lows on Monday and declines of 3.2

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Toys R Us Sees A Future Online

PYMNTS

billion financing infusion from a group of lenders led by JPMorgan Chase, toy and game retailer Toys R Us is announcing new steps in its post-bankruptcy restructuring. 2) that Toys R Us has partnered with global marketplace solutions provider Mirakl to create a new online marketplace. As the leading toy and baby retailer, customers expect us to have the latest and greatest assortment of products available,” said Lance Wills, chief technology officer at Toys R Us.

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Retailers Look To Bid On Toys R Us Stores

PYMNTS

With several Toys R Us stores on the auction block, several national retailers have shown an interest in the embattled toy retailer’s brick-and-mortar locations. Only a small number of the 800 U.S. Toys R Us stores are headed to auction. But, of the stores that are being auctioned off, Toys R Us debtors have until April 12 to give their approval on any sales. And though Amazon doesn’t want to keep the Toys R Us brand, it could use the space to display its own products.

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Saudi Arabia To Pause US Investments?

PYMNTS

The Wall Street Journal reported that that the Saudis’ multibillion-dollar U.S. But at least some of that money would flow, ultimately, into the U.S., as SoftBank executives said they would invest $50 billion in the U.S., Investments aramco Donald Trump saudi arabia trump us investments What's Hot

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The Rise And Fall Of Toys R Us

PYMNTS

The founder of Toys R Us passed away yesterday (March 22) at the ripe old age of 94, barely a week after news broke that the toy chain would be closing its doors for good. Millennials across America singing “I’m a Toys R Us kid” in as solemn a fashion as possible this week are a testament to that. In honor of Lazarus and the toy store that captured children’s imaginations (and parents’ dollars) for generations, let’s look back on the rise and fall of Toys R Us.

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Fiserv Has Largest U.S. Marketshare of Top Bank Core Processors

Bank Innovation

But what is each firm’s market share in the U.S. Fiserv, FIS, and Jack Henry all come to mind when thinking of the top bank core processors. last year? According to data gathered by FedFis.com, the top processor is Brookfield, Wis.-based based Fiserv.

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US, Chinese Retailers Seek International Footholds, Despite Trade War

PYMNTS

Historically speaking, it has not been easy for U.S. The U.S. last month announced tariffs on approximately $50 billion worth of Chinese imports, and China is now promising to match that with tariffs of its own, levying a 25 percent fee on 106 types of U.S. For the U.S., The country has also increased tariffs on many imported U.S. trillion worth of goods were traded between China and the U.S. China’s trade surplus with the U.S. The U.S.

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US Bank Launches Alexa Skills For Customers

PYMNTS

In a press release , U.S. Bank announced it is among the first banks in the U.S. to enable customers to complete banking tasks such as checking an account balance or making a digital payment to a U.S. Voice technology is going to be central to the future of digital interaction,” said Gareth Gaston, head of omnichannel banking at U.S. It’s a great example of innovation coming home for U.S. For instance, U.S.

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39 Top Payments Execs Tell Us What’s Next

PYMNTS

A good forecast is a notoriously difficult thing to write – particularly if one is trying to write it about the payments and commerce ecosystem.

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US Manufacturers Abandon Hiring, Investment Plans

PYMNTS

Small manufacturers in the U.S. A survey released last week by the Institute for Supply Management cited by Reuters found widespread hiring stalls in the U.S. This tariff, too, could place added cost pressures on U.S. He added that April is traditionally a strong month for small business hiring in the U.S.

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US Bank Partners With AutoGravity For Digital Auto Loans

PYMNTS

To reach customers looking to apply for an auto loan online, U.S. We want our customers — both car buyers and dealerships — to have the best, most seamless experience possible,” John Hyatt, EVP of Consumer Dealer Services at U.S. This technology helps us get the buyer in the driver’s seat sooner and brings pre-approved customers to the dealership.”. Currently, U.S. Consumer Finance AutoFi AutoGravity car loans JPMorgan Chase Lending News US Bank What's Hot

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US Retail Sales Auger Slowing Growth Ahead?

PYMNTS

Retail economic growth GDP industrial output U.S. retail sales US retail salesRetail sales data in the United States showed anemic percentage gains in November, economic data that alongside declines in industrial production may auger some slowing economic growth.

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Fizzle: Toys R Us Will Soon Be ‘Toys R No More Us ‘

PYMNTS

After a half-century run and millions of children served, Toys ‘R’ Us will soon be Toys ‘R’ No More Us. As a result, it will close all of its U.S. According to the filing, the company’s creditors “have determined that the best way to maximize their recoveries is to liquidate the existing inventory in all … 735 remaining U.S. stores and begin an orderly wind-down of the U.S. Because saying Toys ‘R’ Us is important to the U.S.

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Toys R Us Continues to Shutter Away with an Additional 200 Stores

PYMNTS

After a weak holiday sales season, Toys R Us is planning to shutter about more 200 stores. This latest set of closings could halve the number of U.S. Toys R Us had approximately 1,600 stores globally, with about half of them in the U.S. Toys R Us spokeswoman Amy von Walter would not elaborate on the closures on Wednesday (Feb. As Toys R Us struggles, some executives from toy manufacturers are considering whether they should do business with the retailer.

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Fintech Growth in U.S., U.K. Makes Regtech Next Battleground

Bank Innovation

With an anticipated wave of de-regulation, neither the U.S. fintech U.S. nor the U.K. wants to apply the old way of regulation to the fintech firms that are becoming the new norm for financial services. Could regtech be the solution?

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U.S. Bank Wallet? Not Yet

Bank Innovation

Online Payments Android Pay Apple Pay Bank of America mobile wallets Samsung Pay US BankBank would launch a mobile wallet, if a customer need arises, a spokeswoman told Bank Innovation.

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With The End Near, Toys R Us Requests Halt Of Vendor Payments

PYMNTS

As Toys R Us wraps up its U.S. operations, a lawyer for the retailer has asked the U.S. The request comes as the retailer is attempting to separate its liquidating U.S. On Wednesday (March 14), Reuters reported that Toys R Us will either sell or shutter all of its brick-and-mortar stores in the U.S. The retailer has over 700 remaining locations in the U.S., including those under the Babies R Us banner. Beyond the U.S.,

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