Costco, Citi Flooded With Complaints in Rocky Card Rollout
Costco Wholesale Corp. customers have deluged the retailer’s Facebook page with hundreds of complaints about a new credit card from Citigroup Inc., saying they endured lengthy wait times and had trouble activating accounts.Costco, the world’s largest wholesale club, told customers that the bank is working to deal with a spate of calls about the new Costco Anywhere Visa cards. The cards were available for use starting on Monday.“Due to high levels of interest in the Costco Anywhere Card and high..>> view originalFed's Kaplan Urges Patience in Raising Rates, Seeks Fiscal Boost
The level of interest rates that neither spurs nor slows growth has probably fallen, giving monetary policy makers less room to stimulate the economy, Dallas Federal Reserve President Robert Kaplan said.“I am strongly persuaded by arguments that aging demographics in advanced economies, a decline in productivity growth and the continued emergence of the U.S. as a source of safe assets have all contributed to the decline in the neutral rate,” Kaplan said in a speech prepared for delivery Thursda..>> view originalThe pound is crashing on U.K. vote for Brexit
The British pound crashed to its lowest levels in 31 years as the country voted to leave the European Union in a historic referendum. The pound dropped below $1.35 for the first time since 1985. The currency fell 11% and was on course for its biggest one-day fall ever. It was down against all major world currencies. Stocks markets around the world are also falling sharply after the campaign to leave the EU won Thursday's referendum. "It is vile and ugly out there, the British pound is f..>> view original'Brexit' bombshell torpedoes global markets
A pedestrian reacts in front of a monitor displaying the Tokyo stock index in Tokyo, Japan, 24 June 2016. The benchmark Nikkei 225 Stock Average lost 495.95 points, or 3.05 percent, to end the morning session at 15742.40 after Britain closed the polls to vote on whether to remain in or leave the European Union (EU), commonly referred to as 'Brexit' (British exit).(Photo: KIYOSHI OTA, EPA)Investors stunned by British voters' unexpected move to support "Brexit" sent global stocks plunging.Futures ..>> view originalTumble in U.S. Stock Futures Sets Off Limit Down Trade Curb
Waves of selling in stock futures sent S&P 500 indexes on the Chicago Mercantile Exchange into a limit-down trading curb.The rules are triggered when S&P 500 contracts decline 5 percent from a reference price that is calculated in the last 30 seconds of trading on the previous day. E-mini futures plunged 5.07 percent to 1,999 and can’t go any lower in the overnight session.Stocks fell around the world Friday as U.K. voters looked likely to approve a referendum to secede from the European Union,..>> view originalBiggest U.S. Banks Seen Weathering Severe Stress in Fed Test
The Federal Reserve’s stress tests of big banks found all 33 have enough capital to withstand a severe economic shock, though Morgan Stanley trailed the rest of Wall Street in a key measure of leverage.QuickTake Stress TestsThe results mark the second straight year all firms passed the annual exams’ first phase. The biggest cleared the most severe scenario handily, with one exception. Morgan Stanley’s projected 4.9 percent leverage ratio tied for last place alongside a Canadian bank’s U.S. unit..>> view originalUK markets plunge, sterling eyes biggest ever fall, as EU vote in balance
LONDON British markets plunged on Friday, with sterling hitting a 31-year low in its biggest fall on record and UK stock futures pointing to a steep fall at the market open after Britons voted to leave the European Union. Bonds also sold off sharply, pushing UK government borrowing costs sharply higher, as traders and investors grappled with the market implications of 'Brexit'.The pound had hit a 2016 high above $1.50 after an earlier opinion poll showed an outcome in favor of 'Remain', but fe..>> view originalHouse Republicans roll out new blueprint for tax reform
House Republicans on Friday are unveiling a blueprint for reforming the tax code, providing the final plank of an election-year platform spearheaded by Speaker Paul RyanPaul RyanHouse Republicans roll out new blueprint for tax reform Britain votes to leave European Union Dem rep mocks Ryan’s sit-in response MORE (R-Wis.).The proposal calls for lowering rates, moving the United States toward a consumption-based tax system and revamping the IRS. GOP lawmakers designed it to foster economic growt..>> view originalWorld stocks in freefall as UK votes for EU exit
LONDON/SYDNEY A British vote to leave the European Union sent sterling plunging on Friday and hammered equities across the world as turmoil swept through global markets.Such a body blow to global confidence could well prevent the Federal Reserve from raising interest rates as planned this year, and might even provoke a new round of emergency policy easing from all the major central banks.Risk assets were scorched as investors fled to the traditional safe-harbors of top-rated government debt, J..>> view originalUber to replace surge pricing with a more 'upfront' system
Uber drivers love it. Riders certainly do not. We’re talking about surge pricing, and it seems the company is making moves to change the way it presents those higher prices to riders using its popular UberX service. Surge pricing kicks in when demand for Uber rides increases, for example during New Year’s Eve, rush hour, or when events put similar transportation services out of action, and can push fares to as much as six times their regular amount. It’s designed to get more Uber drivers to hit..>> view original
Friday, June 24, 2016
Costco, Citi Flooded With Complaints in Rocky Card Rollout and other top stories.
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