| MasterCard Europe and Europay France to Integrate Operations in France
PARIS, and WATERLOO, Belgium, Jan. 8 /PRNewswire-FirstCall/ -- MasterCard Europe and Europay France today announced an agreement to integrate their operating structures in France, a priority market for MasterCard in Europe. The integration will support French banks' efforts to provide competitive payment services. Under the terms of the agreement, a new company is to be formed. Additional terms of the agreement have not been disclosed. The transaction is expected to be completed on April 1, 2008 and will enable French and international banks in France to benefit from a direct relationship with MasterCard Europe for payment services. The two businesses have a history of combining their strengths, with MasterCard International and Europay International having merged their pan-European activities in 2002.
Authorize.Net Announces Third Quarter 2007 Financial Results
Revenue from continuing operations for the third quarter of 2007 was a record $18.2 million compared to $14.5 million for the third quarter of 2006. This represents an increase of 26% compared to the prior year. Income from continuing operations was $2.9 million, or $0.10 per fully diluted share, for the third quarter of 2007, versus $2.5 million, or $0.09 per fully diluted share, reported for the third quarter of 2006. Third quarter 2007 results included share-based compensation expense of $567,000, and acquisition costs of approximately $388,000 related to the pending merger with CyberSource Corporation announced on June 18, 2007. Third quarter 2006 results included share-based compensation expense of approximately $501,000. For the third quarter of 2007, income from continuing operations before share-based compensation expense and acquisition costs (a non-GAAP financial measure) was $3.9 million, or $0.13 per fully diluted share.
News You Can't Use
There's a fascinating showdown in Iowa over underage bar laws that could, possibly maybe, end up affecting the presidential election. Residents of Iowa City, home to the University of Iowa, have submitted a ballot measure that would kick anyone under 21 out of the city's bars after 10 p.m. That might sound reasonable in most cities. But currently anyone 19 and over can hang out at Iowa City bars—although they still can't (technically) drink till they're 21. Community members concerned about the neighborhood's safety and appearance are backing the ordinance. On the other side, you've got students looking to defend their right to drink cranberry juice and ginger ale in bars. The measure appears on the ballot Nov. 6. As voting day approaches, both sides are mobilizing.
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