NEW YORK — MasterCard and Visa said Friday that they had notified issuers of its credit cards of a potential breach of the security of customer accounts. The companies did not say how many customers were affected. Global Payments Inc., which processes credit card transactions for stores, said it had detected a breach of card [...]
Remember that UPS truck driver that delivered your iPad? Apple wants credit for the creation of that job. The world’s most valuable company released a study last week claiming that it’s supported more than 500,000 jobs. The report, commissioned by Apple and completed by the Analysis Group, found that the company indirectly or directly created more than [...]
WASHINGTON, March 2 (Reuters) – The U.S. Internal Revenue Service’s new software system for handling electronic tax returns has experienced problems during the tax filing season, angering some taxpayers whose refunds have been delayed. In an issue that could draw congressional scrutiny, the IRS said it was addressing the software glitches and that delays in [...]
Do you feel like your cable bill is significantly higher than it used to be? That’s probably because it is. The average cable TV subscriber pays nearly three times as much for cable now as they did in 2001, according to research by SNL Kagan cited by theWall Street Journal. The jump in average prices — [...]
PARIS/LONDON (Francesca Landini and Huw Jones) – Finance ministers and central bankers from the world’s top economies are set to back a mandatory capital surcharge on big lenders of up to 2.5 percent to be phased in from 2016. A draft communique from a meeting of G20 finance chiefs endorses a 1-2.5 percent capital surcharge [...]
WASHINGTON (Lucia Mutikani) – Consumers and businesses pulled the sickly U.S. economy back from the brink of recession in the third quarter but don’t pop the champagne just yet. After wobbling early in the quarter, the economy regained some footing, with retail sales rising solidly in September and labor market conditions improving. Business spending has [...]
WASHINGTON (Sarah N. Lynch) – Securities regulators are struggling to craft a rule that sheds light on companies that use certain African “conflict minerals” but avoids a compliance nightmare that hurts manufacturers. The Securities and Exchange Commission is six months behind schedule in finalizing the rule that is required by last year’s Dodd-Frank financial oversight [...]
Should people who are tired of paying extra fees be allowed to close their bank accounts in protest? One Bank of America official reportedly doesn’t think so. According to Addicting Info, two women involved with the Occupy Santa Cruz movement in California walked into a Bank of America branch earlier this week and attempted to close [...]
CHARLESTON, South Carolina – (Harriet McLeod) – A Canadian mining company and a tiny South Carolina town are leading what could be a modern gold rush to the southeastern United States. Romarco Minerals Inc. reopened the historic Haile Gold Mine near Kershaw, S.C., this year and expects to pour its first gold bar there in [...]
NEW YORK (Jennifer Ablan) – Bill Gross, manager of the world’s largest bond fund, apologized to his investors late Friday for his poor performance, saying “I’m just having a bad year.” In a Special Edition letter posted on PIMCO’s website, Gross, who runs the $242 billion PIMCO Total Return portfolio, wrote that he underestimated the [...]
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