TuanChe Announces Unaudited Second Quarter 2020 Financial Results | News

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BEIJING, Sept. 18, 2020 /PRNewswire/ — TuanChe Limited (“TuanChe,” “Company,” “we” or “our”) (NASDAQ: TC), a leading omni-channel automotive marketplace in China, today announced its unaudited financial results for the second quarter ended June 30, 2020.

Key Second Quarter 2020 Financial and Operating Metrics Compared with the Prior Year Period

The Company’s financial and operational results for the second quarter of 2020 have been materially and adversely impacted by the COVID-19 pandemic:

  • Net revenues decreased by 73.1% to RMB54.7 million (US$7.7 million) from RMB203.5 million.
  • Gross profit decreased by 70.1% to RMB43.0 million (US$6.1 million) from RMB144.0 million. Gross margin increased to 78.6% from 70.8%.
  • Quarterly number of organized auto shows across China decreased by 82.3% from 344 in 186 cities to 61 in 56 cities. Quarterly number of special promotion events decreased by 48.7% from 154 to 79.
  • Quarterly number
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Team8 recruits a financial all-star team to form Fintech foundry

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Israeli founded Team8, which is a think tank and foundry comprised of leading minds from Israel’s innovative tech ecosystem and backed by strategic funding from Microsoft, Walmart, Barclay’s, Moody’s, among others, announced the launch of Team8 Fintech. The fintech-focused venture will be led by Rakefet Russak-Aminoach, who is the former CEO & President of Israel’s biggest bank Leumi Group. Russak-Aminoach will be joined by former Payoneer CEO & founder Yuval Tal, who at the beginning of the month stepped down from his position at the digital payment Unicorn to join the think tank; E-trading digital brokerage eToro founder Ronen Assia will also hop on the Team8 Fintech venture, along with former Head of Business Development for PayPal across Eastern Europe, Israel and Africa, Galia Beer-Gabel.

“Today, we are joining forces with giants. Financial Services are first and foremost about Trust. To make them more efficient, available and ultimately fair, Digital

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The Kraft Heinz Company Unveils Its Strategic Transformation Plan, Updates 2020 Outlook, and Provides Long-term Financial Algorithm

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Today, Miguel Patricio, Chief Executive Officer of The Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”), and members of his senior leadership team are unveiling a transformation of the Company. A new strategy, operating model and key initiatives signal a fundamental shift in its approach to growing its brands and its business at a global scale. The Company also is establishing a long-term financial profile and updating its third quarter and full year 2020 financial outlook.

“I am extremely confident that unlocking the power of scale with agility, combined with our new operating model, will return Kraft Heinz to consistent and sustainable growth,” said Patricio. “We are placing the consumer at the center of everything we do, leveraging our greatest assets, strengthening our partnerships, generating fuel that funds growth investments like our 30% increase in marketing spend, and creating a clear path to rebuilding Kraft Heinz into the … Read More

New Python-based trojan targets financial tech firms to steal sensitive data

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Dubbed PyVil, the new remote access trojan goes after passwords, documents, browser cookies, and email credentials, says Cybereason.

Trojan horse

Image: IvonneW, Getty Images/iStockPhoto

A new remote access trojan (RAT) is aiming at financial technology companies in the UK and European Union to capture sensitive information through keylogging and screen captures. Described in a Thursday blog post from cybersecurity firm Cybereason, the RAT named PyVil comes courtesy of the Evilnum APT (Advanced Persistent Threat) group. But this one has a few new tricks up its sleeve compared with previous trojans deployed by the group.

SEE: Security Awareness and Training policy (TechRepublic Premium) 

In its blog post, “No Rest for the Wicked: Evilnum Unleashes PyVil RAT,” Cybereason points to Evilnum as an operation whose malware attacks and phishing campaigns are highly targeted. The group typically sets its sights on financial technology (FinTech) companies, and mostly those located in the UK and EU.

To

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Phunware Provides Upwardly Revised Financial Guidance for Application Transactions Business

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AUSTIN, Texas–(BUSINESS WIRE)–Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today that it has upwardly revised the financial guidance previously provided for its Application Transactions business. The Company currently projects that its non-recurring media transaction revenues will increase by more than 60% quarter-over-quarter, with strong growth specific to new media sales wins on mobile.

Since inception in 2009, Phunware has helped brands of all sizes navigate the complex ecosystem of mobile and digital advertising, allowing customers to engage audiences and drive business outcomes and results for digital transformation. The Company provides best-in-class mobile advertising software, tools and services, including expertise with media strategy and planning, mobile-first creative development, custom audience creation and campaign management and optimization, as offerings within its core Multiscreen-as-a-Service (MaaS) enterprise cloud platform for mobile.

The majority of Phunware’s

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Bank’s COVID relief turned to financial pain for BMO customer, now reimbursed for her trouble

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a woman wearing a dress: Marissa Stowe's application to BMO's COVID-19 financial relief program led to almost five months of confusion as she was passed back and forth between numerous bank employees, while receiving calls from the bank's collection department and watching her credit score take a nose dive.


© Ben Nelms/CBC
Marissa Stowe’s application to BMO’s COVID-19 financial relief program led to almost five months of confusion as she was passed back and forth between numerous bank employees, while receiving calls from the bank’s collection department and watching her credit score take a nose dive.

The Bank of Montreal is waiving a Vancouver woman’s entire credit card balance and lowering her interest rate after a botched application to its COVID-19 financial relief program drove her further into debt. 

The problems started at the end of March, when Marissa Stower, 33, applied for a credit card payment deferral program with BMO shortly after being laid off from her job at a restaurant.

That application led to almost five months of confusion as she was passed back and forth between numerous bank employees, while receiving calls from the bank’s collection department and watching her credit score take a nose dive. 

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Liberis enables SaaS companies to embed financial products using its innovative Funding Platform

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DENVER, Aug. 26, 2020 /PRNewswire/ — Liberis, an international fintech that provides funding to small businesses, announced that its Funding Platform will be made available to a broader set of SaaS companies, empowering their product teams to easily embed financial services into their offerings.” data-reactid=”12″DENVER, Aug. 26, 2020 /PRNewswire/ — Liberis, an international fintech that provides funding to small businesses, announced that its Funding Platform will be made available to a broader set of SaaS companies, empowering their product teams to easily embed financial services into their offerings.

Europe through partnerships with large payment processors and SaaS companies. The fintech delivers white-labeled funding solutions to small businesses through its Funding Platform. The platform’s targeting algorithm helps determine the optimal messaging, timing, and channel to offer small businesses a range of products including loans, revenue-based funding, equipment financing, and government-backed loans.1 Liberis partners with multiple lenders and

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Broadridge Financial Solutions Inc (BR) CEO Timothy C Gokey Sold $8.5 million of Shares

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30-Year Financial, Insider Trades) Timothy C Gokey (insider trades) sold 61,444 shares of BR on 08/17/2020 at an average price of $138.87 a share. The total sale was $8.5 million.” data-reactid=”12″CEO of Broadridge Financial Solutions Inc (30-Year Financial, Insider Trades) Timothy C Gokey (insider trades) sold 61,444 shares of BR on 08/17/2020 at an average price of $138.87 a share. The total sale was $8.5 million.

the business predictability rank of 4.5-star. GuruFocus has detected 3 severe warning signs with Broadridge Financial Solutions Inc. .” data-reactid=”23″Broadridge Financial Solutions Inc provides investor communications & technology-driven solutions to banks, broker-dealers and corporate issuers. Its services include investor & customer communications, securities processing & data & analytics solutions. Broadridge Financial Solutions Inc has a market cap of $16.07 billion; its shares were traded at around $139.57 with a P/E ratio of 35.15 and P/S ratio of 3.61.

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Karma Automotive And Premier Financial Services Introduce New Leasing Partnership For Revero GT In The United States

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IRVINE, Calif., Aug. 18, 2020 /PRNewswire/ — Karma Automotive, the Southern California-based luxury electric vehicle manufacturer and developer of advanced technologies for the automotive industry, has partnered with Connecticut-based Premier Financial Services to provide automotive enthusiasts in the United States with a new leasing program designed to deliver a cost-effective ownership experience for Karma’s captivating and unmistakable Revero® GT.” data-reactid=”14″IRVINE, Calif., Aug. 18, 2020 /PRNewswire/ — Karma Automotive, the Southern California-based luxury electric vehicle manufacturer and developer of advanced technologies for

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Aviat Networks Sets Date for Its Fiscal 2020 Fourth Quarter and Full Year Financial Results Announcement and Conference Call

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AUSTIN, Texas, Aug. 19, 2020 /PRNewswire/ — Aviat Networks, Inc. (NASDAQ: AVNW), (“Aviat” or the “Company”), the leading expert in wireless transport solutions, today announced that it will be reporting its fiscal 2020 fourth quarter and full year financial results for the period ended July 3, 2020  on Thursday, August 27, 2020 after the market closes. The Company also disclosed that it will be hosting a teleconference and webcast to discuss its financial results and outlook on Thursday, August 27, 2020 at 4:30 p.m. Eastern / 1:30 p.m. Pacific.” data-reactid=”12″AUSTIN, Texas, Aug. 19, 2020 /PRNewswire/ — Aviat Networks, Inc. (NASDAQ: AVNW), (“Aviat” or the “Company”), the leading expert in wireless transport solutions, today announced that it will be reporting its fiscal 2020 fourth quarter and full year financial results for the period ended July 3, 2020  on Thursday, August 27, 2020 after the market closes. The Company

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