Odds are against the stock market's aging bull making it through a sixth year, but this is no ordinary bull market.» Read More
NEW YORK-- PARTNERSHIP: Wal-Mart Stores Inc. and American Express Co. are rolling out a prepaid card that they say offers checking and debit services designed to help customers manage and control their everyday finances. BEHIND THE NEWS: The move comes as American Express is looking for new ways to expand its customer base beyond its wealthy clientele.
NEW YORK, Oct 7- Wal-Mart and American Express will hold a conference call for media analysts and investors on Monday at 8:30 a.m. EST to make a financial services announcement, the companies said in a joint press statement on Sunday.
The FDA has sent warning letters to three companies behind most of the 4,100 websites it identified as illegally selling potentially dangerous, unapproved drugs. "This is a first step," said FDA spokeswoman Sarah Clark-Lynn. " According to the FDA one business, called CanadaDrugs.com, operates 3,710 of the targeted websites.
WASHINGTON, Oct 2- The U.S. Supreme Court on Tuesday considered whether the federal government could be liable for money damages by printing confidential credit card information on a customer's receipt, increasing the risk of identity theft.
LONDON, Oct 2- Barclays has promoted two of its top consumer banking bosses to its executive committee as the British bank's new boss puts more focus on traditional banking after criticism of its rapid growth in higher risk investment banking.
Oct 2- The following are the top stories on the New York Times business pages on Tuesday. *New York's attorney general, under the aegis of a federal mortgage task force, filed a civil suit against Bear Stearns, now part of JPMorgan Chase& Co, asserting that it defrauded investors who purchased mortgage securities.
*New York's top prosecutor opened a new front in efforts to hold banks accountable for the financial crisis by filing a civil lawsuit against JPMorgan Chase& Co, alleging widespread fraud by the company's Bear Stearns unit in the sale of mortgage-backed securities. *The judge overseeing the patent dispute between Apple Inc.
NEW YORK, Oct 1- Hedge fund manager William Ackman is blaming Procter& Gamble's top management for the consumer products company's problems, but said he understands the board wants to give the CEO more time to repair years of damage.
AMEX PAYING REFUNDS, FINES: American Express is paying $112.5 million in refunds and fines to settle regulators' accusations that it charged illegal late fees and deceived customers to pressure them to pay off old debts or buy extra credit card services. DECEPTIVE PRACTICES: Four federal agencies and Utah regulators reached settlements with the company.
WASHINGTON, Oct 1- American Express will refund $85 million to customers to resolve charges that three subsidiaries broke consumer protection laws across the credit card business, U.S. regulators said on Monday.
WASHINGTON-- American Express is paying $112 million in refunds and fines to settle regulators' accusations that it charged unlawful late fees and deceived customers to pressure them to pay off old debts or buy extra credit card services. American Express is refunding $85 million to about 250,000 customers and is paying $27.5 million in civil fines.
In addition to the refund to about 250,000 customers, American Express will pay civil penalties totaling $27.5 million to the CFPB, Federal Deposit Insurance Corp, the Federal Reserve and the Office of the Comptroller of the Currency.
CNBC's Simon Hobbs reports EU stocks moved higher on Monday as concerns over Spanish banks eased, and CNBC's Mary Thompson has the details on American Expressed ordered to refund $85 million to consumers. Also, Gary Kaminsky, weighs in on the cause and effects of quantitative easing.
The Dow Jones industrial average rose 118 points to 13,554 as of 1 p.m. Eastern. Stocks had already been up in morning trading, but the gains accelerated after the report was released by the Institute for Supply Management, a trade group of purchasing managers. All 10 industry groups in the S&P 500 rose.
WASHINGTON-- American Express Co. is paying $112.5 million in refunds and fines to settle regulators' accusations that it charged unlawful late fees and deceived customers to pressure them to pay off old debts or buy extra credit card services. American Express is refunding $85 million to about 250,000 customers and is paying $27.5 million in civil fines.
Analysts from KBW weigh in with their picks of winners and losers in the financial sector if the U.S. falls off the “fiscal cliff.” TheStreet.com reports.
At Friday's ribbon cutting for the Barclays Center, the new Brooklyn home for the NBA's Nets franchise, a transformation was clear. The New Jersey Nets were never cool. The BROOKLYN Nets are.
Groupon is taking on established players like American Express, plus successful startups like Square, which Visa backs, along with PayPal and Google, which are also getting into the mobile payments space.
The U.S. economy may not be recovering as fast as President Obama likes, but at least he can make one claim: The stock market has done better under his watch than with any other recent president.