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People in the US are being squeezed to such an extent that they are spending less altogether
...The odds are it will be coming from card-issuing banks such as JPMorgan, Citigroup or Bank of America rather than Visa or Mastercard. Banks have plenty of ways to offset lower interchange fees....
...Lululemon, where a pair of yoga pants can set you back £108, saw a slower start to the year in North America....
...In a January 2023 letter to the transportation department, Airlines for America called the rule “arbitrary and capricious” and said that, if adopted, it “will clutter web pages and mobile screens, thereby...
...negotiating directly with merchants, we have reached a settlement with meaningful concessions that address true pain points small businesses have identified,” said Kim Lawrence, president of Visa North America...
And more on bad buybacks
Americans account for 14% of users but their revenue contribution will be higher
AI could be a game-changer for many of the tech giants
...Max launched in the US in May 2023 in an attempt to challenge Netflix, Disney and Amazon in the streaming market, and in Latin America and the Caribbean earlier this year....
...Another factor driving the growth of ETFs is the active ETF boom, said Bryan Armour, director of passive strategies research for North America at Morningstar Research Services....
Legal battle between talent agency and Michael Kassan centres on jet flights and other spending
US state’s chancery court plays a key role in balancing interests of boards and investors
...But Bryan Armour, director of passive strategies research for North America at Morningstar, said that on closer inspection a slightly different picture emerged....
...America will lose what makes it America,” he wrote....
...According to Michael Youngworth, a convertible bond strategist at Bank of America, a slower than expected fall in inflation is also encouraging companies to issue debt sooner rather than later....
...America’s real estate market remains stuck in the mud. Existing home sales, which make up most of the US housing market, totalled just 4.09mn units in 2023, a 30-year low....
...Pepsi said the deceleration was largely due to a recall in Quaker granola products over salmonella concerns and weak sales in North America....
And yet, we’re struggling to care
Shares of start-up slide after reporting a $5.4bn annual loss and 10% cut to salaried payroll
...Investors are very willing to deploy capital, but they’re still very disciplined and they’re providing us with very detailed valuation thoughts,” said Keith Canton, Americas head of ECM at JPMorgan....
Also in this week’s newsletter, the Detroit Lions roar back and Real Madrid top football rich list
A foray into US dealmaking four decades ago raised the hackles of locals and proved financially disappointing
...“Winner” indicates that the organisation won an FT Innovative Lawyers North America award for 2023. The full list of award winners is available here....
Landmark lawsuit is Biden administration’s first big antitrust action against iPhone maker
World’s biggest brands to spend $650mn on coveted ad slots, featuring celebrities from Lionel Messi to Jennifer Aniston
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