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Forbes
4 days ago
- Business
- Forbes
Why Are Conservatives Telling Businesses What They Can Charge?
Information Technology Abstract Concept There's no such thing as a 'free lunch.' Unoriginal, trite, simplistic, and most of all, obvious? Yes on all four. But sometimes the obvious requires stating. Consider the outcry among conservatives over the decision to remove Rule 1033 from the much commented on GENIUS Act. While the Trump administration is known to very much dislike Rule 1033, former Consumer Financial Protection Bureau (CFPB) head Rohit Chopra was a big fan of it. Which should have conservatives wondering why conservatives support what Chopra did. For background, Rule 1033 states that financial institutions (think large banks) must provide their customers secure access to their financial data, transactions, account balances, and other information. The Rule reads as a tad superfluous in consideration of the happy truth that banks would go to the expense to compile and provide this information either way, but nonetheless. What's important is that in possessing direct access to their own financial information, customers of financial institutions have not only had their own crucial information at their fingertips, they've been able to pass the information on to other financial services providers. Crucial here is that they've been free to do so of their own accord, and with an eye on securing the help of financial service providers operating outside the banks and other financial institutions compiling the information. Where it becomes interesting and puzzling at the same time is that Rule 1033, beyond mandating that big banks provide the information to their customers, also mandated that the banks not charge a fee to outside financial service providers accessing the data. Which brings us back to the outcry mentioned up top, and the rather unoriginal mention of the old as economics truth that there's no free lunch. Thought of in terms of the banks and financial institutions that compile consumer data in highly secure fashion, there's a cost associated with doing so. And with costs in mind, the compilers of the information have understandably and ethically begun charging outside financial service providers for accessing the information. What's happening is understandable simply because there are once again costs associated with compiling the data. Banks have a right to profit, no? As for the ethical aspects of charging for the data, banks have shareholders whom they serve, and who understandably don't want to pay for a market good that is given away for free. Which brings to conservatives and their emotional outbursts about the scrapping of a Rule that vandalizes simple economics. On the face of it, how very 'man bites dog' that conservatives are siding with a government-produced Rule that tells for-profit businesses what services they can and cannot charge for. Worse, imagine disallowing charges for information access that is plainly valuable to those attaining it. Translated, outside financial service providers aren't acquiring data at the pleasure of the owners of it because they want to stare at it lovingly, rather they want to profitably access the information themselves by offering would-be customers their own suite of financial products based on information compiled. Yet the 'big' banks are the enemy here? More realistically, the banks charging a fee for their essential work is banks acting like businesses. There was a time when conservatives reveled in just that kind of profit-motivated activity.
Associated Press
4 days ago
- Business
- Associated Press
North Direct Launches Global Market Intelligence Platform to Aid Cross-Border Investment Strategies
London, England, United Kingdom, July 18, 2025 -- North Direct, a multi-asset access provider, has introduced a new Global Market Intelligence Platform designed to support individuals and firms engaged in cross-border investing. The platform can now be used via the web-based interface of North Direct and will help users to track the international markets more effectively. The launch is a response to the increasing demand for easier access to market data in different locations and asset classes. As global investors seek better tools to handle geopolitical events, currency changes, and sector-specific developments, this new feature attempts to simplify how they perceive and respond to global financial data. The Global Market Intelligence Platform provides real-time updates across equities, commodities, currencies, and indices. It is integrated with North Direct's existing platform and includes filtering options for specific markets, economic indicators, and geopolitical developments. Enhancing Cross-Border Awareness Through Market Data Tools The new platform brings together regional market indicators, news feeds, and asset-specific analysis in one place. According to North Direct's team, the update is part of an ongoing focus to provide 'market transparency' and help clients identify investment opportunities or risks in different parts of the world. 'Our clients are looking for more than just price charts. They want access to relevant data that helps them understand the forces behind market movement,' said a North Direct spokesperson. 'This feature was developed to help them navigate foreign markets with more clarity, especially when trading multiple asset classes.' The platform is structured around simplified dashboards and offers customizable watchlists for various market categories. Users can follow key economic indicators, monitor performance by country, and track price reactions to geopolitical updates. North Direct's product team said that ease of use was a core priority during the development process. The system does not require additional downloads and is accessible via the same login as the main trading platform, making it simple for clients to integrate it into their existing workflow. A second spokesperson from North Direct explained that the new feature also responds to growing demand from users managing diversified portfolios. 'When someone is exposed to multiple markets, keeping up with regional developments can be overwhelming. This tool was designed to make that process more manageable,' the expert said. 'Whether someone is monitoring the 'equities' market in Asia or keeping an eye on European 'index futures,' this platform gives them quick access to what matters most.' Furthermore, the company will be keeping a close eye on the North Direct review from users around the world to continue making necessary updates. Enhancing the Wider Investment Environment and Decision-Making This update comes at a time when global investors are becoming more impacted by happenings beyond domestic markets. The asset prices across borders are usually affected by currency fluctuations, interest rate decisions, trade policy changes and political risks. Under this platform, North Direct will offer organized, region-specific data that can be used by the clients to make their trading and investment decisions. The platform's interface includes market summaries that update based on economic releases or breaking news. Traders and investors can filter results by region or sector to identify areas of interest, helping to reduce time spent switching between third-party data sources. The Global Market Intelligence Platform is not a standalone product. Instead, it is embedded into North Direct's existing systems, available to users with live accounts. There are no separate registration requirements, and all tools are integrated into the client portal. About North Direct North Direct is a multi-asset access provider offering a range of trading instruments, including commodities, equities, indices, and cryptocurrencies. The company provides a web-based trading platform accessible on desktop and mobile devices, with standard functionality and security measures, including encryption and account verification. North Direct offers various deposit and withdrawal methods, prioritizes fast trade execution, and provides customer support through multiple channels. Contact Info: Name: Daniel Hyman Email: Send Email Organization: North Direct Website: Release ID: 89165051 In the event of detecting errors, concerns, or irregularities in the content shared in this press release that require attention or if there is a need for a press release takedown, we kindly request that you inform us promptly by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team will promptly address your feedback within 8 hours and take necessary actions to resolve any identified issues diligently or guide you through the removal process. Providing accurate and dependable information is our utmost priority.
Yahoo
12-07-2025
- Business
- Yahoo
June earnings update: Paychex, FedEx, Carnival, Chewy, Petco and Lululemon
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. Earnings calls, loved by some CFOs and dreaded by others, allow finance leaders and their fellow executives to verbalize their organization's progress. Each month, compiles interesting insights shared by CFOs during these calls for The CFO Earnings Dispatch series. These insights include statements about their company, analysis of financial data and answers to analysts' questions. For June, we highlight CFO comments from Paychex, FedEx, BlackBerry, Carnival, Chewy, Vera Bradley, Guess, Petco and Lululemon. Market cap: $52.08 billion Date of call: June 25 Paychex is reshaping its go-to-market model following the acquisition of Paycor, which closed in Q4, adding 50,000 mid-market clients and an enterprise-focused human capital management platform to the company. As integration progresses, CFO Bob Schrader emphasized that the acquisition was about long-term growth, not just the cost savings of the deal. 'We're hoping to beat that [cost synergy target of $90 million in FY2026], but at the same time, we're gonna look to potentially balance that with reinvestment in the business,' Schrader said. 'As we've talked about, this is a growth story for us. You know, we didn't do this deal for the cost synergies. We did this to provide an enhanced runway for growth for the company as we move forward, and we think that we've done that. And so we're going to balance that additional cost synergies with investments as we move forward.' Market cap: $56.38 billion Date of call: June 24 FedEx is showing how CFOs can protect margins during a revenue slowdown by executing on pre-planned efficiency programs. Despite flat revenue, the company said it delivered $2.2 billion in cost savings through its DRIVE initiative while also reducing capital expenditures. CFO John Dietrich emphasized controlling what the company can — cutting costs, reducing CapEx and managing pricing — while acknowledging continued weakness in industrial demand and trans-Pacific trade. 'We also significantly reduced our CapEx spending in FY 2025 by approximately $1.1 billion for a total of $4.1 billion compared to $5.2 billion in FY 2024. This marks our lowest capital spending in over ten years. Additionally, our CapEx as a percentage of revenue was 4.6%, the lowest level since FedEx Corporation was established in fiscal year '98,' said Dietrich. Market cap: $2.42 billion Date of call: June 24 After exceeding expectations across all major business lines in Q1 FY2026, BlackBerry is delivering $121.7 million in revenue and $16.4 million in adjusted EBITDA. The company posted positive GAAP net income for the first time in more than three years. CFO Tim Foote highlighted the impact of sustained cost discipline and a deliberate approach to capital deployment, including the launch of a $100 million share repurchase program. 'We're delighted that we're in a position now to be able to do a buyback. It shows the strength of our balance sheet and the plan going forward. So we're feeling good about that,' said Foote. 'We ultimately, as good stewards of capital, will consider a number of different factors like cash flow in the quarter, share price, other alternative uses of capital that we might have available, that type of thing. So it's not gonna be a linear thing, I would say. It would just be whatever we think makes the best sense for shareholder value.' Market cap: $37.66 billion Date of call: June 24 After posting a record second-quarter operating income and EBITDA, Carnival Corp. is raising full-year net income guidance by $200 million to $2.7 billion. CFO David Bernstein highlighted strong yield performance, disciplined cost controls and strategic capacity additions. Alongside financial outperformance, the company's efforts come at a time when it is tightening its policies around its code of conduct, enforcing rules that were previously lightly applied in response to an uptick in inappropriate passenger behavior. Although this did turn into a public relations problem for the company, it hasn't impacted new offerings yet, as Carnival's finance team is already at work preparing for two major 2026 launches, its Celebration Key destination and the new Carnival Rewards loyalty program. During his brief comments on the call, Bernstein explained how the company is going to recognize this new revenue. 'Accounting treatment for recognizing revenue requires a deferral of a portion of the ticket price paid by the guest equal to the value of future program benefits earned,' Bernstein said. 'Over time, the redemption of benefits by guests will build in, so will the revenue recognized for delivering these benefits to the guests.' Bernstein continued: 'We expect that it will take approximately two years for the revenue recognized each quarter from the benefits redeemed by guests to exceed deferred revenue of the portion of the ticket price paid for the future benefits. Once this happens after approximately two years, the program will be accretive to our yields.' Market cap: $15.99 billion Date of call: June 11 Chewy CFO David Reeder will depart the company in the coming weeks to take on a CEO role in the semiconductor industry. The departure comes as Chewy reported $3.12 billion in Q1 net sales, up 8.3% year over year, with adjusted EBITDA reaching $192.7 million and active customers growing to 20.8 million. The quarter also saw strong performance in autoship sales, which rose nearly 15% and accounted for more than 82% of total revenue. 'Leaving Chewy is a bittersweet decision,' Reeder said. 'The company has a clear differentiated strategy and a strong leadership team focused on delivering exceptional customer experiences... I wish the company continued success in the years ahead.' Market cap: $66.48 million Date of call: June 11 Vera Bradley introduced a new CFO, Michael Schwindle, during its Q1 FY2026 earnings call, as the company undergoes leadership changes and suspends financial guidance amid continued transformation efforts. The quarter saw revenue decline to $51.7 million, down from $67.9 million the year prior, with gross margin falling to 47.5% amid channel shifts and rising freight costs. 'The entire Vera Bradley team is working hard on enormous business changes, as [CEO Jackie Ardrey] and I have discussed in numerous calls,' Schwindle said. 'I sincerely appreciate this effort and know it will be pivotal in the next phase of the business transformation as well as improved performance in the future.' Market cap: $665.29 million Date of call: June 5 Guess CFO Alberto Toni joined the company in early June, and in his first earnings call, said he was 'thrilled to join such a great organization and an amazing brand.' CEO Carlos Alberini praised the company's 'deep bench of finance leaders' including Toni and noted that the team is well-positioned to drive strategic priorities and sustainable growth. Interim CFO Dennis Secor provided the quarter's financial commentary and offered context around ongoing margin pressures, including the impact of retail softness and evolving business mix. 'That margin decline was driven primarily by deleverage on the fixed cost base given the comp declines both in-store and online, more markdowns and higher store costs,' Secor said. 'These were partially offset by the addition of the Rag and Bone business and an increased initial markup.' Market cap: $945.88 million Date of call: June 5 Despite a 2.3% year-over-year decline in Q1 net sales, Petco CFO Sabrina Simmons said the company is delivering on its core priorities: gross margin expansion, SG&A leverage and improved ROIC. Gross margin increased 30 basis points to 38.2%, and adjusted EBITDA rose $13.8 million to $89.4 million. The company reiterated its full-year outlook despite headwinds from store closures and consumer softness. 'I talked about it last quarter and again this quarter, that we're really working on a change in mindset. That's the most important thing,' Simmons said. 'Our goal is not just about cost-cutting. Our goal is to leverage SG&A. So we're very much setting the stage, building the strong foundation right now this year. But as we grow sales, we can manage SG&A well, and leverage that will help operating margin expansion.' Market cap: $28.29 billion Date of call: June 5 Lululemon reported lackluster performance for the first quarter of fiscal 2025, highlighting ongoing pressure in the luxury athleisure space as consumer appetite softens. The company lowered its full-year operating margin guidance, citing tariffs and FX pressures, and continues to face legal complications, most recently filing a case against Costco for selling Lululemon 'dupes.' This marks at least the second time the company has taken legal action against the wholesale retailer over brand infringement. CFO Meghan Frank said the company remains focused on long-term investments despite near-term margin pressure: 'We are managing expenses prudently while also continuing to invest to drive long-term growth and set ourselves up for future success,' said Frank. 'This includes new store openings and optimizations, new market entries, growing brand awareness and ensuring we have adequate capacity across our supply chain.' Recommended Reading The CFO Earnings Dispatch
