Afternoon Coffee: Jaggaer sells majority stake; Tradeshift Go 2.0 has team approach Stock

Jaggaer announced today that another private equity firm has become its majority stakeholder. Read the full Spend Matters story here, and later this week, look for a PRO analysis of the development.

Tradeshift releases Go 2.0, extending virtual cards to entire business teams

Tradeshift, a solution provider for supply chain payments, announced the release of Tradeshift Go 2.0, which allows managers to share a virtual corporate credit card with all employees on a team, lowering the hassle of manual reimbursement and allowing managers to maintain oversight on tail spend.

“Purchasing policies have traditionally been centered around a model in which, due to liability concerns, only select employees have access to a corporate or p-card,” said Sarika Garg, chief strategy officer at Tradeshift. “Tradeshift Go levels the playing field for business teams so that every employee on the team has access to authorized payments.”

Tariff twist cost U.S. Steel $5.5 billion 

U.S. tariffs on foreign steel have hastened the decline of some of the U.S. mills that the Trump administration promised to help. Bloomberg News reports that since the administration announced the tariffs 16 months ago, U.S. Steel has lost almost 70% of its market value, $5.5 billion, and two American furnaces were idled in mid-June.

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