Zara is to help its UK shoppers resell, repair or donate clothing bought from the Spanish fashion chain in an effort to reduce its environmental impact.

The Pre-owned service, which launches on 3 November and will be Zara’s first step into resale or repair, will enable shoppers to book repairs and donate unwanted items online or via a store, and post now-unwanted Zara purchases online for sale.

Sellers will take pictures of goods with detailed product information provided by Zara. The company will run the sales platform via its website and app, with payment handled by the Stripe system. Buyers’ details will be passed on when a sale has been agreed so the goods can be sent by the seller.

Zara started installing clothing donation bins in Europe in 2016. Under a new partnership with the Red Cross, shoppers can request collection from their home.

It is understood that the

TORONTO–(BUSINESS WIRE)–Aite-Novarica Group ranked Brim’s Credit-Card-as-a-Service as best-in-class for product capabilities in its analysis of the global landscape of Credit-Card-as-a-Service providers. The Aite-Novarica Group CCaaS Matrix Evaluation and Impact Report evaluates the overall competitive position of each provider, focusing on provider stability, client strength, product features, and client services.

“Congratulations to Brim Financial for being ranked best-in-class on product capabilities for its Credit-Card-as-a-Service offering in the Aite-Novarica Group CCaaS Matrix Evaluation,” says David Shipper, Strategic Advisor of Retail Banking and Payments at Aite-Novarica Group. “Credit-Card-as-a-Service (CCaaS) providers like Brim help launch new card programs faster than what was possible in the past, while supporting most or all of the operational and service needs of a new program, allowing clients to focus on growing the business.”

As per Aite-Novarica Group, the explosive growth of credit card issuance and usage has motivated financial institutions, fintechs, and startups to launch innovative

Chinese conglomerate Fosun International Limited has stated that it officially notified Moody’s, an American business and financial services company, on October 12 of its decision to terminate business engagement with the rating service, ceasing to provide relevant information on the firm effective from that day.

On August 23, Moody’s Investors Service downgraded to B1 from Ba3 the corporate family rating of Fosun with a negative rating outlook. The downgrade reflects Fosun’s weak liquidity profile, elevated refinancing pressure due to the challenging onshore and offshore funding environments.

According to a report issued by Moody’s, Fosun’s rating is Ba2 due to many quantitative indicators such as investment strategy, asset concentration, geographical diversification, business diversification, portfolio transparency, financial strategy, financial leverage ratio and liquidity indicators. However, because Moody’s analysts were subjectively pessimistic about the economic environment, rather than worrying about Fosun’s own financial situation, Moody’s finally adjusted its rating to B1.

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