U.S. consumer borrowing unexpectedly fell in August as credit-card balances declined for a sixth consecutive month with the coronavirus pandemic continuing to limit some purchases amid elevated unemployment. Total credit decreased US$7.2 billion from the prior month after an upwardly revised US$14.7 billion July gain, Federal Reserve figures showed Wednesday. […]
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Goldman Sachs Is Buying General Motors’ Credit-Card Business. Here’s Why.
Text size View of General Motors in downtown Detroit Chris Kelleher/Dreamstime Goldman Sachs is diving deeper into consumer banking. The bank is close to buying General Motors (ticker: GM) credit card business for roughly $2.5 billion, The Wall Street Journal reported Thursday. The expected deal comes one year after Goldman […]
Apple ends Barclays credit-card partnership ahead of new devices: Bloomberg News
South China Morning Post HSBC, JPMorgan, StanChart and others processed trillions of dollars of transactions despite concerns over potential crimes, reports say Some of the world’s biggest banks, including HSBC, JPMorgan Chase and Standard Chartered, moved trillions of dollars identified as being potentially tied to money laundering or other crimes […]
Apple ends Barclays credit-card partnership ahead of new devices- Bloomberg News
Bloomberg Perelman Selling Almost Everything as Pandemic Roils His Empire (Bloomberg) — Bit by bit, billionaire Ronald O. Perelman is parting with his treasures.His Gulfstream 650 is on the market. So is his 257-foot yacht. Movers hauled crates of art from his Upper East Side townhouse after he struck a […]
Apple Ends Barclays Credit-Card Partnership Ahead of New Devices
(Bloomberg) — Apple Inc. on Tuesday ended its longtime card partnership with Barclays Plc, a move designed to focus attention on its own Apple Card product-financing plans. © Photographer: Peter Foley/Bloomberg Shoppers stand in line to enter the Apple store at the Queens Center shopping mall in the Queens borough […]
Credit-Card Providers Scramble to Update Customer Benefits as International Travel Ban Drags On
American Express Co. executive Rachel Stocks pored over consumer data in the weeks after coronavirus lockdown measures took hold in the U.S., trying to imagine what credit-card rewards should look like in the Covid-19 era. Cardholders increasingly were cashing in their loyalty points for items such as hair dryers and […]