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...Discover’s is the smallest after Visa, Mastercard and American Express....
...PBMs face increasing pressure from the Federal Trade Commission, the US antitrust regulator, and bipartisan legislation in the works aimed at encouraging the uptake of biosimilars....
...The board of the Federal Deposit Insurance Corporation on Thursday was scheduled to vote on the proposals, one from Republican member Jonathan McKernan and the other from Rohit Chopra, a Democrat....
...Keep an eye out for Goldman Sachs, Bank of America, Blackstone and American Express to name a few. One company you can’t miss is Netflix....
...It ranks fourth as a network behind the titans Visa, Mastercard and American Express. However, Amex is the only other of these that is both a lender as well as network....
...The US Federal Deposit Insurance Corporation is working on proposals aimed at ensuring asset managers do not seek too much influence over the banks in which they hold large stakes....
...Growth and employment remain strong — so strong, in fact, that expectations for Federal Reserve interest rate cuts are being pushed further into the future....
...Last month, judges in Karlsruhe stripped federal funding from the fringe Heimat party, the neo-Nazi credentials of which are far more well-established....
...Some G7 leaders proposed designating the Islamic Revolutionary Guard Corps defence force as a terrorist organisation, a proposal that the EU has long mulled but consistently failed to find consensus on....
...Shortly before Jay Powell, Federal Reserve chair, announced that the central bank was keeping benchmark rates at 5.25 per cent to 5.5 per cent, Colin Simpson, Manulife’s chief financial officer, revealed...
...Gelsinger said that Intel’s own federal grant under the Chips Act would be announced “very soon”....
...The final fly in the ointment is the US Federal Reserve. Inflation has overshot forecasts in the US for three months, prompting investors to bet the Fed may not start cutting rates until November....
...Most bank mergers need approval from all three of the US federal bank regulators: the FDIC, the Federal Reserve and the Office of the Comptroller of the Currency....
And two more stocks of interest
...Trump appointed Mark Calabria as the head of the Federal Housing Finance Agency [the Fannie and Freddie umbrella organisation]....
...It was a genuine breakthrough, but did not lead to a share of power either in Flanders or at federal level....
...An Australian federal court late on Monday granted an interim injunction sought by the country’s eSafety commissioner ordering X to hide all videos of the incident within 24 hours....
...Porticoes Capital will seek to take over banks closed by the Federal Deposit Insurance Corporation, the US regulator, according to an official filing....
Rates are still going up
...Since 1991, federal law has subjected the FDIC to a “least cost test”....
...CVS Health, the largest pharmacy chain in the US, in 2018 acquired Aetna for $69bn and Cigna combined with Express Scripts in a $67bn deal, including debt....
...Up the workers: Germany’s labour market is a source of “stability” amid economic gloom, according to the head of the Federal Employment Agency....
...Companies: American Express and Colgate-Palmolive report fourth-quarter results....
...decision last year to merge Credit Suisse with UBS was an “unhelpful” way to deal with a failing global bank and US regulators would not shrink from a full shutdown in a similar situation, the chair of the Federal...
...Federal Reserve officials expressed more scepticism about the need for further interest rate increases even as they underscored their resolve to tame inflation, according to minutes from their July meeting...
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