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NEW YORK, Feb 19- American Express Co violated U.S. antitrust law by prohibiting merchants from steering consumers to use credit cards that have lower processing costs, resulting in higher prices, a federal judge ruled on Thursday. The decision in the closely-watched case is the second major setback for American Express this month, following its loss on Feb. 12 of...
On Wednesday, American Express Co said it would stop offering a co-branded credit card with Costco when its contract with the retailer ends in March 2016. These products are big business for companies such as American Express- nearly a third of the company's purchase volume is on co-branded cards. The official noted that banks that issue Visa or Mastercard...
Feb 12- Warehouse club retailer Costco Wholesale Corp will stop accepting American Express Co's credit cards at U.S. stores from next year, threatening nearly 8 percent of the card company's worldwide billed business. This represents a large loss in our opinion, "Jefferies analysts said in a report, noting that Costco also accounts for 20 percent of AmEx's...
Feb 12- American Express Co said Costco Wholesale Corp would stop accepting its cards in the United States from next April, after the companies failed to reach terms on renewal of an agreement. Costco has already replaced American Express with Capital One Financial Corp as its credit-card issuer in Canada, starting this year. Costco has 468 warehouses in the...
Feb 12- American Express Co said it will stop issuing credit cards co-branded with Costco Wholesale Corp in the United States from March 31, 2016.
Citibank has reached an agreement with New York Attorney General to change its screening processes for checking and savings accounts.
Some of the names on the move ahead of the open.
Check out which companies are making headlines after the bell Thursday: Starbucks, ETrade, Capital One & more.
Jan 22- Capital One Financial Corp, one of the largest credit card issuers in the United States, reported a quarterly profit that narrowly missed Wall Street's estimates as the company set aside more money to cover bad loans. Net income attributable to the company's shareholders rose to $974 million, or $1.73 per share, from $835 million, or $1.43 per share.
Jan 22- Credit card issuer Capital One Financial Corp reported a 16.6 percent rise in quarterly profit as the company's net interest income rose. Net income attributable to shareholders rose to $974 million, or $1.73 per share, for the fourth quarter ended Dec. 31, from $835 million, or $1.43 per share, a year earlier. Total net revenue rose about 4.9 percent to $5.81...
US yields fell in volatile trading on Thursday after the European Central Bank unveiled a more aggressive than expected bond-buying program.
U.S. stock index futures signaled a higher open as all eyes were fixed on the ECB Mario Draghi, who is expected to announce a bond-buying program.
Finance Park is a playground, of sorts, meant to give eighth graders a chance to be adults for a day and make those basic budgeting decisions.
Having more females in higher positions could help a company's stock, if the initial performance of Barclay's Women in Leadership ETN is any guide.
With low oil and other conditions in mind, several analysts and major research firms recommend these two sectors for 2015.
Morgan Stanley picks the biggest winners from this year's collapse in oil prices.
NEW YORK, Dec 1- Ally Financial Inc became the largest U.S. retail auto lender in the third quarter, displacing Wells Fargo& Co for the first time since the start of 2013, according to a report from Experian Automotive on Monday. Much of Ally's growth came from financing used car sales, an area where the former in-house finance arm of General Motors Co has been...
Some of Tuesday's midday movers:
Millennials are shying away from credit cards, but plastic is a great way to build a credit history. Here's what to look for in a card.
Check out which companies are making headlines after the bell Thursday: Google, SanDisk, Xilinx & more.