Treasury Secretary Janet Yellen on Wednesday warned that China is treating the global economy as a dumping ground for its cheaper clean energy products, depressing market prices and squeezing green manufacturing in the U.S. “I am concerned...
US stocks rebounded Wednesday after several days of red closings, as the S&P 500 jumped to a fresh record and the Dow surged more than 475 points. The S&P 500 (^GSPC) was up 0.8% to close at...
Currencycloud, the Visa-owned cross-border fintech, signs a partnership extension with Paysend, helping the latter expand its fintech services globally Currencycloud, the cross-border payments company helping businesses simplify money movement in a multicurrency world, has expanded its partnership...
The 10-year U.S. Treasury yield ticked lower on Tuesday as investors weighed the previous day’s data points and looked ahead to key inflation figures later in the week. The benchmark rate was down by slightly more than 1 basis point at 4.238%. The yield on the 2-year Treasury yield was...
After nearly 20 years of litigation, Visa and Mastercard have reached a settlement with US merchants lowering and capping credit card interchange rates in a deal that could save the merchants $30 billion over five years. The settlement, one of the largest in US antitrust history, will reduce credit interchange...
The top U.S. agency for consumer financial protection will scrutinize credit card reward programs after a surge in customer complaints, its chief said on Tuesday. Rohit Chopra, director of the U.S. Consumer Financial Protection Bureau, has clashed with credit card issuers since last year over regulations capping late fees. "We are...
BlackRock CEO Larry Fink sent his annual letter to investors on Tuesday in which he cited the "immense strain" on Social Security amid the aging of the U.S. population and the need to reform the retirement system given its looming insolvency. Fink explained the economics behind Social Security, which collects...
The rise of digital wallets, or e-wallets, is undeniable. Whether it’s paying for groceries with Apple Pay by tapping your phone to a screen or paying the babysitter with a peer-to-peer (P2P) app like Venmo, cashless, cardless transactions are everywhere.
The European Union on Monday began an investigation into Apple, Alphabet and Meta, in its first probe under the sweeping new Digital Markets Act tech legislation. “Today, the Commission has opened non-compliance investigations under the Digital Markets Act (DMA) into Alphabet’s...
There’s been a noticeable shift in fraud tactics, with fraudsters increasingly targeting earlier stages of the transaction process. According to a recent TransUnion report, 13.5% of transactions associated with online account creation were flagged as digital fraud last year. ...
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