Merchants across the nation have spent years unsuccessfully fighting interchange fees, which generates an estimated $40 billion to $50 billion in income annually for banks that issue credit cards. But after Congress passed a law last month to protect consumers from excessive fees and interest on credit cards, merchants are mounting a fresh offensive.

Despite swelling delinquencies and reform pressure from the government, credit card companies are using pricing power and staying power to emerge as a favorite among market pros.

Investors, start-ups and major corporations are pouring money into services that make it easier to use cellphones to buy goods and transfer money, the New York Times reports.

A crackdown on credit limits by card companies is squeezing the nation’s 27 million small businesses, exacerbating the problems brought on by a stagnant economy.

Credit card holders who in ordinary years might have used their tax refunds to pay down their balances apparently spent the money elsewhere as the recession deepened in the first quarter.

Stocks eked out a gain after a rocky session Friday as investors weighed some encouraging economic reports against gloomy earnings.

Stocks had a wobbly start to the morning Friday as investors weighed some encouraging economic reports against gloomy earnings.

Stocks pared their losses Friday after economic reports showed consumer confidence soared to its highest level since before the fall downturn began and that manufacturing is showing signs of improvement.

Futures indicated a slightly higher open for U.S. stocks Friday as investors shrugged off Chrysler's bankruptcy announcement and decided to go against the 'sell in May and go away' mantra after April's successful performance.