$4 billion startup TripActions is taking on $500 million in debt to launch a new product that helps customers finance their business trips

TripActions CEO Ariel Cohen

TripActions, the enterprise cloud travel services startup, is introducing a corporate card to offer its customers a more convenient way of financing business trips.
The new product, called TripActions Liquid, allows businesses to set up a travel expense account on the TripActions platform to seamlessly manage business travel.
TripActions has secured $500 million in debt financing from Silicon Valley Bank, Goldman Sachs and Comerica Bank to launch the new product.
“This is all about solving another pain point in business travel, everything that goes with payments while you’re traveling for business from the time that you book your trip while you’re traveling and eventually when you get back,” TripActions CEO and cofounder Ariel Cohen told Business Insider.
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TripActions, the cloud enterprise travel startup, wants to make company travel even less of a hassle by making it easier for its customers to pay for business trips.

TripActions, a $4 billions startup which helps businesses manage their travel needs, is introducing a new feature, called TripActions Liquid, which would streamline the process of booking and financing trips. The product includes a corporate credit card to offer a more convenient way of paying for travel expenses. To launch the new product, TripActions has secured $500 million in debt financing from Silicon Valley Bank, Goldman Sachs and Comerica Bank.

“This is all about solving another pain point in business travel, everything that goes with payments while you’re traveling for business from the time that you book your trip while you’re traveling and eventually when you get back,” TripActions CEO and cofounder Ariel Cohen told Business Insider.

Michael Sindicich, TripActions general manager for special projects, said the new product aims to simplify what is a typically complex process for many businesses.

“There are 40 steps that we mapped out that happened during business …read more

Source:: Business Insider

      

Italy’s rampant coronavirus outbreak is forcing its biggest football matches, including a potential title decider, to be played in empty stadiums

Serie A

Five soccer matches in the Italian top flight are to be played behind closed doors this weekend as Italy continues its efforts to contain its coronavrius outbreak, according to ANSA.
Italy is the most infected country outside of Asia, with at least 229 cases and seven deaths having been confirmed.
Among the games effected is Juventus’ clash with Inter Milan, which is being pegged as a potential title decider, with the two teams separated by just six points at the top of Serie A.
Four matches in Serie A were postponed last weekend due to outbreaks in the regions of Lombardy, Veneto and Piedmont.
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Five soccer matches in the Italian top flight will be played behind closed doors in empty stadiums this weekend in the country’s latest attempt to contain its rampant coronavirus outbreak.

Italy is the most infected country outside of Asia, with at least 229 cases and seven deaths having been confirmed. A dozen towns, including Milan and Venice, have been placed on lockdown, with travel prevented in or out.

The Italian Football Federation says it sent an official request to the government to close off the matches to the public in the impacted regions, which, according to ANSA, has now been approved.

Amongst the games that will be played behind closed doors is the clash between league leaders Juventus and Inter Milan on Sunday. The fixture is being pegged as a potential title decider, with the two clubs placed just six points apart at the top of the Serie A table.

Juventus is currently first and Inter are third, though Antonio Conte’s side have a game in hand and a superior goal difference, meaning a win over Juventus would place it in …read more

Source:: Business Insider

      

Big tech stocks lost more than $200 billion in market value in a day from coronavirus fears

Tim Cook

Coronavirus fears hammered technology stocks on Monday.
The prospect of a global pandemic wiped more than $200 billion from the combined market capitalizations of Apple, Google-parent Alphabet, Amazon, Microsoft, and Facebook.
Shares in all five tech titans slumped at least 4% after coronavirus deaths were reported in Iran, Italy, and South Korea.
Apple expects to miss its quarterly revenue target because coronavirus has forced store closures, eroded customer traffic, and disrupted its supply chain.
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Coronavirus fears erased more than $200 billion from Apple, Google-parent Alphabet, Amazon, Microsoft, and Facebook’s combined market capitalization on Monday.

All five technology titans saw their stocks tumble at least 4% as investors braced for coronavirus to escalate into a global pandemic. Apple, the most valuable public company in the world, saw more than $60 billion wiped off its $1.4 trillion market cap.

Microsoft also gave up nearly $60 billion, while Amazon and Alphabet’s market caps both shrunk by more than $40 billion. Facebook, the least valuable member of the group, surrendered more than $25 billion.

President Donald Trump praised Microsoft, Apple, Google, and Amazon as “MAGA” stocks earlier this month, when all four boasted market caps north of $1 trillion. Monday’s sell-off pushed Alphabet below that valuation, and Amazon closed just north of it.

However, the “big tech” quintet look set to regain ground — their stocks rose roughly 1% in pre-market trading on Tuesday.

Wuhan coronavirus — which causes a disease called COVID-19 — has infected nearly 80,000 people, killed more than 2,600, and spread to roughly 3o countries. Recent fatalities in Iran, Italy, and South Korea have fanned fears that it will spread worldwide and hamper global growth.

Apple recently warned that it expects to fall short of its revenue forecast for this quarter. It blamed coronavirus …read more

Source:: Business Insider

      

Trump’s former doctor said he mixed cauliflower into the president’s mashed potatoes in a sneaky attempt to get him to eat vegetables

Trump Big Mac buffet

President Donald Trump’s aversion to vegetables and love of junk food is well known, and former White House physician has described his attempt to introduce more healthy eating into the president’s diet.
“We were making the ice cream less accessible, we were putting cauliflower into the mashed potatoes,” Dr. Ronny Jackson told The New York Times.
Trump was found to be clinically obese in his physical exam last year, weighing in at 243 pounds.
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Former White House physician Dr. Ronny L. Jackson has described to The New York Times his plot to introduce more vegetables into junk-food fanatic President Donald Trump’s diet.

Jackson, who is currently campaigning to be elected representative of Texas’ 13th congressional district, told The Times that before the leaving the role as Trump’s physician, he had been determined to cut the president’s weight by 10 to 15 pounds, possibly by introducing an exercise bike.

“The exercise stuff never took off as much as I wanted it to,” he said. “But we were working on his diet. We were making the ice cream less accessible, we were putting cauliflower into the mashed potatoes.”

Jackson’s glowing endorsement of the president’s physical condition while he was White House physician — where he claimed the president could live “200 years” with dietary improvements — had earned him Trump’s favor.

In 2018, Jackson was nominated by Trump to head the Department of Veteran’s Affairs, but later was forced to withdraw his candidacy after reports emerged of allegations of faulty prescription practices and drunkenness at work.

Trump’s love of junk food is well known.

He famously fueled his presidential campaign with Diet Coke and McDonald’s, and served a Big Mac buffet on silver platters when Clemson University’s football team visited the White House in January 2019.

Some foreign …read more

Source:: Business Insider

      

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