Capital One CEO and Chairman, Richard Fairbank. Marvin Joseph| The Washington Post | Getty Images Capital One’s recently announced $35.3 billion acquisition of Discover Financial isn’t just about getting bigger — gaining “scale” in Wall Street-speak — it’s a bid to protect itself against a rising tide of fintech and regulatory threats. It’s a chess … Read more
The millennial and Gen Z generations are placing financial goals at the top of their lists of 2024 resolutions, a recent American Express survey finds. The poll, which surveyed more than 1,800 people born between 1981 and 2012, found that 57% of respondents named personal finance goals as their top personal aim for next year, … Read more
Drew Angerer / Getty Images A year ago, there was little holiday cheer at Affirm. The point-of-sale lender was confronting rising interest rates, recession fears and weakening consumer spending. Affirm shares ended 2022 down 90%, wiping out billions of dollars in market value. Affirm investors are wrapping up 2023 in a much different mood. The … Read more
Etsy is laying off 11% of its workforce at the height of the holiday season as the e-commerce giant looks to restructure its business and streamline costs against a “very challenging” macro and competitive environment, the company announced on Wednesday. Approximately 225 employees will be cut from Etsy’s workforce, which will bring the headcount for … Read more
An Amazon.com Inc worker prepares an order in which the buyer asked for an item to be gift wrapped at a fulfillment center in Shakopee, Minnesota, U.S., November 12, 2020. Amazon.com Inc | Reuters The initial third-quarter report on gross domestic product showed consumer spending zooming higher by 4% percent a year, after inflation, the … Read more
Travelers are flocking to airport lounges in search of complimentary food, drinks and perhaps most importantly, a chance to relax away from the hordes of travelers at the gate. The problem: plenty of other travelers are, too. Armed with high-end rewards credit cards and fresh from years of big spending, more and more travelers are … Read more
Delta Air Lines Boeing 717-200 airplane as seen on the final approach landing at New York JFK John F. Kennedy International Airport, NYC, USA. NurPhoto / Contributor Delta Air Lines CEO Ed Bastian said the airline will make “modifications” in the next few weeks to its loyalty program after a recently announced overhaul that would … Read more
Indonesian President Joko Widodo makes a speech throughout the Affiliation of Southeast Asian Nations (ASEAN) Overseas Minister’s Assembly in Jakarta, Indonesia on July 14, 2023. Murat Gok | Anadolu Company | Getty Photos A brand new regional cross-border fee system not too long ago applied by Southeast Asian nations might deepen monetary integration amongst members, … Read more
Goldman Sachs is in talks to dump its Apple bank card and high-yield financial savings account merchandise to American Categorical, a supply instructed CNBC’s Leslie Picker. Goldman Sachs, Apple and American Categorical declined to remark. The talks come amid a broader retreat by Goldman from its largely failed shopper banking initiatives, for which CEO David … Read more