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UK watchdog to review post-Brexit visa and Mastercard fees
Date: June 21, 2022
By Huw Jones LONDON (Reuters) -Britain’s payment systems regulator (PSR) will conduct two market reviews of card fees charged by Visa and Mastercard, the U.S. companies that account for 99% of debit and credit card payments in the UK. The PSR’s announcement on Tuesday follows heavy pressure from lawmakers to launch full market reviews to...
Authentication vs. authorisation in the SCA era
Date: June 16, 2022
By Shagun Varshney, Signifyd Senior Product Manager, Payment Optimisation, takes us through two different approaches to SCA, and what retailers can do to avoid the downsides of the new regulations. Since its enforcement in the UK in March, Strong Customer Authentication (SCA), designed to protect consumers and reduce the number of fraudulent orders for merchants,...
Online fashion retailers ASOS, boohoo weighed down by returns
Date: June 16, 2022
By James Davey and Paul Sandle LONDON (Reuters) -British online fashion retailers ASOS and Boohoo cautioned on Thursday that they are being hurt by rising product returns as consumers battle inflation and shift to pre-pandemic behaviour, hammering their shares. ASOS shares slumped 29% by 1049 GMT after it warned it would miss profit forecasts due...
Retailers push European shares lower after wall st jolt
Date: May 19, 2022
By Susan Mathew (Reuters) -European shares slumped 1.7% on Thursday following a sharp sell-off on Wall Street, as dismal results from big retailers underlined the hit from surging inflation on the world’s biggest economy. Tracking U.S. peers, regional retailers fell 2.4% and were the biggest drags on the pan-European STOXX 600 index, which extended declines...
Britain’s JD sports lifts profit estimates, sales rise
Date: May 12, 2022
(Reuters) – Britain’s JD Sports Fashion raised its annual profit outlook for 2022 on Thursday as people spent more on athleisure and sportswear, and pointed to upbeat sales data so far this year. The country’s largest sportswear retailer now expects headline profit before tax and exceptional items for the year ended January 29 to be...
European shares suffer worst week in 2 months; tech, retail fall
Date: May 6, 2022
By Shreyashi Sanyal and Sruthi Shankar (Reuters) -European shares chalked up their worst week in two months on Friday, with tech stocks and retailers feeling the brunt of selling on the prospect of bigger interest rate hikes to tame decades-high inflation. The pan-European STOXX 600 index fell 1.9%, with retailers down 2.0% and technology stocks...