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...Discover’s is the smallest after Visa, Mastercard and American Express....
...CREDIT: NBC News New York, X/@JaunMaBenitez, X/@AnthonyCabassa_, PBS NewsHour Read a transcript of this episode on FT.com...
...Americans have gorged on billions of dollars of credit card debt over the past three years....
...“For over a decade, credit card giants have been exploiting a loophole to harvest billions of dollars in junk fees from American consumers,” said Rohit Chopra, CFPB director....
...Americans held more than $1.1tn on their credit cards at the end of 2023, an all-time high....
...How poisonous is Anglo American’s ‘poison pill’, really?...
...Firstly, approximately 30% of the Global and North American totals are made up of ‘dry powder’, i.e. undrawn capital commitments....
...North American private-credit funds have on aggregate called more capital from investors than they’ve distributed for several years now....
...We hope our fellow American eclipse-watchers emerged with spirits high and without fried corneas....
...The legislative dodge undercuts the law’s intent to bolster North American EV manufacturing while upholding its climate change goals by giving consumers more choices to go electric....
...I’m talking, of course, about credit cards points that can be exchanged for travel perks and all manner of other goodies....
...“If these people pay with a credit card, we’re going to follow them,” Bulas whispered. When their main course arrived, they had already left....
...(New Yorker) — Does private credit really reduce systemic risk? (Without Warning/Substack) — Why the magic? (Friday’s Elk) — Americans are ditching weeknight fun. Can they be tempted back?...
...This debt has been rising in the past year and recently topped $1tn for all Americans for the first time....
...“Last year US credit did outperform — European credit did OK, but not to the same degree,” said Mohit Mittal, chief investment officer of core strategies at Pimco....
...American Express trades at six times book value while Capital One is below 1.5 times. Credit card plumbing is arcane but very lucrative....
...Americans are feeling better about the economy, but they just won’t give Biden credit for it, according to a new FT-Michigan Ross poll [free to read]....
...CREDIT: CNN Read a transcript of this episode on FT.com...
...During the pandemic, Americans desired more wheels, both stationary and mobile. Two of the standout winners of 2020 were Peloton, the pricey exercise bike company, and used auto retailer Carvana....
...Third, consumer spending — which has been strong, despite the higher cost of credit — has been propped up by the wealthiest Americans, who are also benefiting from rising home and equity valuations....
...Barclays is relying on American consumers to help it achieve that aim and is targeting an $8bn increase in US credit card lending in the next three years....
...The pair had partnered in a multibillion-dollar unsolicited takeover attempt of annuity specialist American Equity Investment Life, which the latter fended off....
...An executive order in 2021 called for a “revitalisation of merger oversight” to “ensure Americans have choices among financial institutions and to guard against excessive market power”....
...Credit: Fox10, PBS NewsHour Mentioned in this podcast: Surge in border crossings creates political upheaval in the US Joe Biden and Donald Trump head to Texas as immigration debate heats up Sign up for...
...Major lenders like Nomura, Credit Suisse, Morgan Stanley and UBS all took big hits....
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