Plus   Neg

Tungsten Extends Invoice Financing Service To U.S.; Stock Rises

Tungsten Corp. Plc. (TUNG.L), the holding company of OB10 Limited that provides electronic invoice delivery or e-invoicing, Wednesday said it is now extending its invoice financing service into the U.S. Tungsten shares were gaining around 4 percent in London trading.

Tungsten Early Payment, which enables suppliers to control when they receive invoice payments, will now be available to certain US-based companies that use Tungsten Network to invoice their customers.

Tungsten Early Payment enables suppliers to be paid for invoices when they need it. Suppliers select the invoice and payment date and Tungsten pays the invoice amount after deducting a discount charge.

According to the company, this integrated invoice finance offering has been designed with Tungsten Network suppliers in mind and provides a low cost and easy-to-access alternative to traditional forms of bank finance.

Edmund Truell, Group CEO of Tungsten, said, "The vision the management team and Board had when we set up Tungsten, just over a year ago, has come to fruition. We are successfully financing invoices for UK-based suppliers on our platform, and are now beginning to do the same for selected eligible suppliers in the US. As new supplier companies are invited to join Tungsten Network by their customers, they will be invited to sign up for Tungsten Early Payment at the same time."

In London, Tungsten shares were gaining 9.50 pence or 3.95 percent, and trading at 250 pence.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
McDonald's Corp. has announced the return of its popular Shamrock Shake milkshake for a limited time at participating U.S. restaurants nationwide. The minty green milkshake is made with McDonald's vanilla soft serve blended with Shamrock Shake syrup and topped with whipped topping. It first debuted on the McDonald's menu in 1970 and has been a seasonal tradition for nearly 50 years. Asia-focused lender HSBC, through its blockchain-powered platform, has reduced the cost of settling foreign exchange trades by 25 percent, Reuters reported quoting a bank executive overseeing the project. Mark Williamson, chief operating officer of FX cash trading and risk management, told that the bank processes between 3,500 and 5,000 trades a day on its "FX Everywhere" system. PepsiCo, Inc. (PEP) reported fourth-quarter core EPS of $1.49 compared to $1.31, prior year. Excluding the impact of foreign exchange translation, core constant currency EPS increased 17 percent year-over-year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per...
Follow RTT