In a first-of-its-kind solution for the credit card giant, Mastercard has reportedly launched a new mobile app for small businesses in Hong Kong to facilitate B2B trade.

Reports on Wednesday (Sept. 21) revealed the rollout of the Mastercard Commercial Network App, connected to Mastercard Commercial Cards, that lets SME users manage their supplier relationships.

Features on the app include the management of supplier payment terms and access to supplier products directories. The app also offers a “Pay Now” feature for small businesses to collect payments faster, which enables companies to receive payment in about two days, according to Mastercard. Further, the new tool comes with security features via Mastercard SecureCode technology.

“We developed and launched the Mastercard Commercial Network App in Hong Kong to empower local small and medium-sized business owners to better manage their businesses, including working capital and creating business opportunities,” said Mastercard Division President of Hong Kong, Macau and Taiwan Hiang Choong in a statement. “Access to funds is the lifeblood of every business and the foundation for future growth.”

According to reports, Mastercard’s app targets B2B buyers across a range of industries, including catering, import and export businesses, retail and others. More than 100 sellers have integrated onto the Mastercard Commercial Network, the company said.

In a separate statement, Edward Chan Kwok Man, the founder of German Pool and one of the merchant partners on the network, pointed to the ability for the app to strengthen cash flow management of his business.

“The Mastercard Commercial Network App provides reliable support for businesses in multiple aspects,” the executive stated. “We can be assured that payments are collected safely in a timely manner, minimizing risks associated with handling customer cash payments.”

By PYMNTS 

Twitter stock has skyrocketed by more than 20% after a Friday-morning report from CNBC said that the company was moving closer to a sale and that Google and Salesforce were among the interested suitors.

Google and Salesforce aren't the only companies eyeing Jack Dorsey's startup, according to the report, which noted "several" potential bidders.

Bloomberg reported that Goldman Sachs is helping Twitter talk to potential buyers.

Twitter declined to comment in a statement to Bloomberg.

Google declined to comment on the report. Salesforce also declined to comment.

TechCrunch is reporting that Verizon is also interested. Verizon owns TechCrunch parent company AOL and is also in the process of buying Yahoo. A Verizon representative declined to comment to Business Insider.

A source familiar with Verizon mergers and acquisitions said there had been no talks between the two companies.

TechCrunch also reports that Microsoft might be interested in buying Twitter. A Microsoft representative declined to comment.

A formal bid could be submitted soon, though CNBC noted that a Twitter sale would still be a ways away.

A sale by the end of the year is within the realm of possibility, according to CNBC's source.

Twitter's market cap reached about $15 billion Friday, which limits the number of companies that can afford to make an acquisition.

While Google's name has been floated frequently over the past year as a likely candidate to buy Twitter, the introduction of Salesforce to the fray of interested companies comes as a bit of a head-scratcher.

Salesforce executive Vala Afshar tweeted out a short breakdown of "Why Twitter?" on Friday morning, highlighting the company's network, real-time news, and promotional platform as reasons the enterprise company would be interested.

Twitter's stock has been under pressure for months, as the company struggles to boost user growth. Its plummeting value has sparked constant speculation that Twitter could become an acquisition target.

Twitter and its board reportedly discussed cost cutting and a potential sale during a big board meeting on September 8, though the company didn't have any bids at the time.

The company has continued to roll out new features over the past month, but given Wall Street's reaction to Friday's report, investors are far more interested in a sale.

You can read CNBC's full report here.

By Steven Tweedie and Steve Kovach

​​Cedar Rapids-based CRST International, one of the largest privately-held transportation companies in the United States, announced the acquisition of privately-held Gardner Trucking Inc. in a media release Monday afternoon.

CRST currently employs more than 8,000 drivers, independent contractors and office personnel. The acquisition will add more than 2,400 drivers and 500 non-driver personnel.

Based in southern California, Gardner services the Western United States.

The Gardner acquisition is the single largest acquisition in CRST’s history, according to the release.

“CRST International is comprised of seven specialized transportation companies. We are always in search of adding companies to our portfolio that offer services which allow us to expand our capabilities for our customers,” said Dave Rusch, president and CEO of CRST, in the media release.

Gazette staff
Sep 12, 2016 at 2:33 pm 

NEW CASTLE, Del. (WTXF) - The left lane of I-95 northbound is now open again, according to Delaware State Police, but the latest from SKYFOX at about noon shows traffic is still backed up for miles.

The trouble started more than ten hours ago when a tractor trailer collided with a jersey barrier in a construction zone, causing it to flip and spill blank pennies all over the highway, shutting it down.

The accident just before 2am forced all I-95 northbound traffic off at Exit 5A, Airport Road. Since that’s just before the I-295 eastbound split which leads to the Delaware Memorial Bridge, traffic to New Jersey and New York was also affected.

​It took five hours for crews to cut away the truck with steel hacksaws and get it towed away, but there was still lots of work to be done at the scene.

​
​Bob Kelly compared traffic to a parking lot, saying it was backed up for miles to Route 273. Five lanes were narrowed down to one. There was no access to Wilmington or the Delaware Memorial Bridge. He suggested getting off at Exit 4, which is the Christiana Mall exit. Then, take Route 1 south to Route 13. Other possible alternatives are Route 4 and Route 2.

​Steve Keeley reported the road was very slippery ahead, even to walk, like an ice rink possibly from a fuel spill. The crash happened at 1:53am when the tractor trailer hit a tall concrete barrier. Possible causes are construction and rain.

​
There was also a new sign in the construction zone that may have caused the driver to lose control while trying to skid to a halt.

At one point, there was a crane with braces at the scene, trying to clean up the truck, but it wasn't easy.

​The truck spilled 40,000 pounds of blank pennies all over the road, especially the right lane. They were headed to the mint in Philadelphia to be stamped. A cleanup truck has already been at work, but Keeley reported hearing them scrape against the concrete, leading him to think they’ll be shoveled up, along with other debris.

He also said there doesn’t look like the road was damaged, despite a minor fire since the crash was so violent.

And police say the driver "has suffered minor injuries and is currently being assessed at the scene."

​Published by: www.Fox29.com

Suppliers to companies such as Nike Inc. and Hugo Boss AG are scrambling to ensure their T-shirts and sneakers reach buyers in time for the year-end holiday season after the collapse of Hanjin Shipping Co. left an estimated $14 billion worth of goods adrift.

Esquel Group, a Hong Kong-based manufacturer for fashion brands including Nike, Hugo Boss and Ralph Lauren, is hiring truckers to move four stranded containers of raw materials to its factories near Ho Chi Minh City as soon as they can be retrieved from ports in China. Liaoning Shidai Wanheng Co., a Chinese fabrics importer and a supplier to Marks & Spencer Group Plc, has made alternative arrangements for shipments that were scheduled with Hanjin.

​“Our production lines are waiting,” said Kent Teh, who runs Esquel’s Vietnam business. “We potentially have to take airfreight to deliver the garment items to clients in the U.S. and U.K.”

Apparel, handbags, televisions and microwave ovens are among goods stranded at sea after Korea’s largest shipping company filed for bankruptcy protection last week, setting off a series of events that roiled the global supply chain. A U.S. Court on Tuesday provided a temporary reprieve, which may help vessels call on ports such as Los Angeles without the fear of getting impounded. Any major bottlenecks ahead of Thanksgiving and Christmas could put a dent in the two-month shopping season, which netted some $626 billion of sales last year in the U.S.

Supporting Hanjin’s Chapter 15 U.S. Bankruptcy Court petition, Samsung Electronics Co. said in a court filing that about $38 million of its goods were on board two Hanjin vessels off Long Beach, California. Its visual display business division has parts and finished goods in 304 containers meant for its factory in Mexico, while its home appliance business unit has refrigerators, washing machines, dishwashers and microwaves in 312 containers.

If the cargo isn’t unloaded immediately, the company will be forced to transport alternative parts by air to help meet contractual obligations at “great costs,” Samsung said. For example, it would have to charter at least 16 planes at a cost of about $8.8 million to move 1,469 tons of goods, it said.

“All these costs and delays will be a loss not only to Samsung, but also to major retailers in the U.S. and, ultimately, to U.S. consumers,” Samsung said in the filing.

Handbag maker Michael Kors Holdings Ltd. said it had concerns about Hanjin for some time.
“We did have a limited number of containers hung up on those ships; there’s going to be some pricing pressure at this point,” Chief Executive Officer John Idol said Wednesday at a conference in New York. “We don’t expect significant long-term impact.”

At the same conference, Emanuel Chirico, CEO of Calvin Klein and Tommy Hilfiger owner PVH Corp., said Hanjin handles a small portion of the company’s business, and “it really hasn’t impacted us at all.”

As parent Hanjin Group and the South Korean government consider steps to salvage the shipping company, retailers in the U.S. last week called for measures to help temper losses. About 86 of Hanjin’s ships were stuck at 50 ports in 26 countries, with vessels turned away out of concern the company has no cash to pay various docking fees and handling charges. A favorable ruling from a U.S. bankruptcy court this week protected Hanjin’s assets in the U.S. against creditors, while the shipping line proceeds with its reorganization in South Korea.

Using planes
With cargo stuck on ships, Esquel’s Teh estimates a production delay of about a week and a doubling of transport costs. Besides truckers, a faster ship will be hired to transport the items from Hong Kong, he said. He also plans to fly finished products out of his factories to meet deadlines.

Some manufacturers are switching to other shippers, said Hoang Ngoc Anh, deputy secretary general of Vietnam Textile and Apparel Association.

Over in China, Shanghai Lansheng Corp., which exports shoes, office supplies and musical instruments, said it is asking each of its business divisions to check if they have any stock stuck at sea.

Korea’s Image
Nike and Ralph Lauren declined to comment, while Hugo Boss didn’t immediately respond to an e-mailed request for comments.

“Retailers’ main concern is that there’s millions of dollars worth of merchandise that needs to be on store shelves that could be impacted by this,” Jonathan Gold, vice president for supply chain and customs policy at the National Retail Federation trade group, said last week.

Another group, the Retail Industry Leaders Association, urged U.S. Secretary of Commerce Penny Pritzker and Federal Maritime Commission Chairman Mario Cordero to intervene.
Start your day with what’s moving markets.

In last-ditch efforts to pull the shipping company back from the brink, Hanjin Group said Tuesday it will provide 100 billion won ($92 million), including 40 billion won from Chairman Cho Yang Ho, to help contain disruptions in the supply chain. Separately, South Korea’s ruling Saenuri Party asked the government to offer about 100 billion won of low-interest loans if the group provides collateral.

Hanjin Shipping filed for bankruptcy protection last week after its proposal for restructuring failed to pass muster with lenders led by state-owned Korea Development Bank.

“The disruptions have dented South Korea’s image,” said Lee Sang Jae, an economist at Eugene Investment & Securities Co. in Seoul. “If this prolongs, it will only cause more concern to companies.”

 
Bloomberg.com - Authors: Nguyen Dieu Tu Uyen - Kyunghee Park - Mai Ngoc Chau