Tensions between Japan and South Korea come as the U.S. and its trading partners are embroiled in a global trade war.Technologyread more
The one-to-eight stock split would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. It comes ahead of a reported Hong Kong...Asia Marketsread more
Minutes from the Reserve Bank of Australia's monetary policy meeting in July showed the central bank was ready to adjust interest rates if required.Asia Marketsread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
China's fiscal spending increased 10.7% in the first six months from a year earlier, the finance ministry said on Tuesday, underlining the government's bid to support the...China Economyread more
The findings by McKinsey and Company come amid a year-long tariff fight between the U.S. and China, which has spilled into areas such as technology and security.China Economyread more
Microsoft's considerable reach into the corporate world isn't something Slack CEO Stewart Butterfield is very concerned about.Technologyread more
A devastating outbreak of African swine fever that has killed millions of pigs in China is changing attitudes in a country where farm hygiene has often been seen as lax by...Livestockread more
In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
The card will be piloted with employees of the two companies in coming weeks, according to the person, who declined to be identified speaking before the product is available.
For both companies, the card represents a step into new territory. Faced with slowing growth in sales of its most popular hardware, Apple is seeking to bolster its revenue from services. It would get a larger slice of so-called swipe fees from the new credit card than it currently takes from card purchases through Apple Pay, according to The Wall Street Journal.
For Goldman, which became a traditional bank after the financial crisis, it's the latest move to seek more revenue from ordinary consumers. For most of its 150-year history, the firm's clients were institutional investors, governments and big corporations. In addition to its first credit card, the bank is planning to expand its roster beyond the savings and personal loans it currently offers to include wealth management and insurance products.
The card, which is set to launch to the public later this year, will allow users to manage their spending and rewards though an iPhone app, according to the Journal, which first reported the news.
Apple engineers have discussed using visualization tools, similar to its fitness app, to help users manage their personal finances, according to the newspaper. In concept, it sounds similar to Goldman's Clarity Money app.
Users will earn 2 percent cash back on purchases and possibly more on Apple products and services, the newspaper wrote. It will run on the Mastercard network.
Goldman hopes to eventually use the card as an entry to pitch its consumer finance products to Apple customers. The companies had discussed plans to have the card be part of a broader personal finance tool, but scuttled the plans after Apple executives expressed privacy concerns with linking to bank accounts, the Journal wrote.
— CNBC's Michael Sheetz contributed reporting.