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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...The bureau also said that smaller credit card issuers offered cheaper interest rates compared to larger rivals, including Capital One....
...Leave your credit card in your wallet, don’t go near an ATM, and come armed with US dollars in cash that you can change into pesos on the ground. Not just any dollars, crisp $100 dollar bills....
...Its $440bn credit arm makes more business loans than some midsize banks, making it not so much an investment outfit as an alternative financial system....
...The launch of Apple Pay Later in the US last month marked another push into financial services by the Silicon Valley company — which already offers a credit card with Goldman Sachs and Mastercard....
...In some ways, working at Revolut was the pivotal moment: I was trying to work with a major credit bureau, and we wanted them to see customers on both sides of the Atlantic....
...Fintech fascination Apple wades deeper into financial services Silicon Valley giant Apple last week acquired UK-based alternative credit scoring start-up Credit Kudos in its latest push into consumer finance...
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com....
...Ana Botín, executive chairman of Santander, the eurozone’s largest lender, told a financial services conference in March that there was a possibility the bank would see only a 5 per cent drop in earnings...
...Recent acquisitions were hurt by the crisis: both Crossix, a service for holding patients’ data, and Physicians World, a speakers bureau for healthcare professionals, have suffered more than other parts...
...Causeway Capital Management LLC, the LA hedge fund, has declared 4.88 per cent of Micro Focus....
...Mr Qin is now trying to renew the loan but can only do so if he can find a credit company willing to guarantee it....
...That’s faster than in the online publishing, data processing and information services industry itself, according to Bureau of Economic Analysis data....
...of credit default swaps that triggered the 2008 financial crisis....
...The “anti-steering” rules ban merchants from encouraging customers to use cheaper credit cards....
...To Mr Cohen’s credit, YouTube has successfully brokered fresh licensing agreements with two of the big three record labels since he took over....
...A 2009 Supreme Court case involving prescription drug labels, Wyeth v Levine, greenlighted state laws that are stricter than federal laws....
...Spotify, the music streaming service, plans to list existing private shares directly on NYSE as soon as the fourth quarter rather than doing a formal IPO....
US stock volatility indices closed at their highest level of the year, US capital markets correspondent Eric Platt reports.
...V....
...Tracking stocks owe their origins to General Motors’ acquisition of the EDS IT services business from Ross Perot in 1984....
...The former president of the US credit-card business at Discover Financial Services has since hired senior executives from regulators and rivals — and through this month’s acquisition of a $16bn book of deposits...
...The services sector remained in robust shape, with the non-manufacturing PMI also increasing from 52.7 in February to 53.8 in March....
...and credit quality by the California Department of Business Oversight, due to complete in March....
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