Credit card lawsuit settles for at least six billion
The Associated Press reports Visa MasterCard and major banks agreed to pay no less than 6 billion dollars to settle a long running antitrust lawsuit by retailers. The case traces to 2005 over interchange fees and merchant charges. Kroger Safeway and Rite Aid are among named plaintiffs. Visa and MasterCard shares rose after hours.
MENTIONED IN THIS ARTICLE
New York
Visa
MasterCard
Banking Industry
U.S
Kroger
Safeway
Rite Aid
China Economy Slows Sharply Threatening Global Recovery
China’s economy grew 7.6 percent year on year in the second quarter, the slowest since early 2009, as weak retail and factory output cloud prospects for a robust rebound. Moody’s and other analysts note signs of potential, but uneven, improvement with bank lending rising yet external demand fading.
MENTIONED IN THIS ARTICLE
China
Moody's Analytics
Alaistair Chan
Europe
United States
Xiao Li
Industrial Bank
Shanghai
Australia
Sume
JPMorgan questions values assigned to trades
JPMorgan Chase revealed its traders may have concealed losses from a soured bet, challenging mark integrity and prompting a division shutdown. The bank plans to claw back two years of pay for senior managers involved as losses rise from 2 billion to 5.8 billion, with potential further increases if markets worsen.
MENTIONED IN THIS ARTICLE
New York
Jpmorgan Chase
Jpmorgan
Jamie Dimon
Dimon
Daniel Alpert
Westwood Capital Partners LLC
Bank
JPMorgan Faces Regulatory Review Over Loss Disclosure
The Department of Justice and SEC, joined by international regulators, scrutinize JPMorgan for how it reported a $459 million first quarter net income reduction. Despite the cut, the bank posted $4.9 billion and later $5.0 billion in the second quarter, buoyed by mortgage lending and credit cards. Dimon testified last month that the trades were to protect the bank against potential global economic risks.
MENTIONED IN THIS ARTICLE
Dimon
Jpmorgan
Justice Department
Securities and Exchange Commission
SEC
Wall Street
Congress
Ford reports sharp European sales drop in first half
Ford Motor Co says European sales declined 10 percent January through June in 19 Western European markets and fell 16 percent in June from a year earlier. The firm forecasts Europe to be a profit drain this year with second quarter earnings due July 25. VW posted 8.9 percent H1 growth but Western Europe sales slid 5.7 percent. Ford plans momentum in H2 with the B-Max, Fiesta, and Transit Custom launches.
MENTIONED IN THIS ARTICLE
Detroit
Ford Motor Co
Ford
Europe
Volkswagen AG
Germany
Volkswagen
de Waard
England
European Automobile Manufacturers Association
At&t Inc
Alcatellac
Microsoft
Agreet NY
NiSource NY
ArenaPhm Nasd
NokiaCp NY
EkotAm NY
Nordson Nasd
Ipvix NY
Bob Evans
Northropg NY
Cedarf NY
Oracle Nasd
PNC NY
CntryLink NY
ParkerHan
Cisco ChesEng Nasd
Penney NY
NY Petrobras NY
Citigroup
Pfizer NY
Darden NY
PolyOne NY
Diebold NY
PwShs Qqqnash
CineEquity NY
Dkscbear NY
Prushs&p NY
DirFnBear NY
Pruvxst Rs NY
Emersone NY
ProctGam NY
Sherwin NY
Fordm NY
Sinusxm
Fmcg NY
GenElec NY
Honcilint! NY
Sterns NY
Supvalu NY
Ishemkts NY
TwoHrbing NY
Ishr2k NY
US Steel NY
Intel Nash
Invacare NY
Vale SA NY
Jpmorgch NY
VangEing NY
Keycorp NY
WalMart NY
Lnbbnep Nasd
Weathfint
Limited
Wells Fargo NY
WendysCo Nasd
Windstrm
Nash
Merck NY
Xerox NY
Sis Commodities
NYMX
New York Mercantile Exchange
Chicago Board of Trade
CME
Chicago Mercantile usCe Exchange
NYBT
New York Board of Trade i
BalAm MA
Incbua Mih
Cpwidgrla
Mws
Eurpacgramfb
Invcoama m
Wamutinva m
Dodge & Cox IntiStk NL
Cox Stocklv
Contra LG
FrankTemp-Franklin
FrankTemp-Templeton GiBondAdy
Harbor Intrinst_d
PIMCO
Vanguard
Vanguard Instrix
Vanguard MaintAdmirl
Vanguard TotBdAdmi
Vanguard TotsttAdmi
Vanguard TotStlins
Also Mentioned on This Page
The
Associated Press
Daniel Wagner
Chase Bank
North Olmsted
Roelant de Waard
N. Ridge RD
the Market IN Review
Dany Dow Jones
Dow Jones Industrials
Wivew. le
Dow Industrials
Dow Transportation
S&p
S&p MidCap
Wilshire
Russell
Stock Exchange
Ny&co
SparkNet
HovnEn Pf
FstFnBwt
ChinaSoAir
Ada-Es
OrionEngy
Islamco
China Eair
Virnetx
Furmanite
Orbital
Lexmark
OceanPw H
Telvnst el HallwdGp
JamesRiv
Supvalu
Asteaint
BkofAm
CheniereEn
Rentech
Cisco
Supralu
Vringo
Oracle
Ishr2k
ArenaPhm
GoldStrg
Ishemkts
WellsFargo
GranTrrag
Greenmtc
Orexigen
NwGold g _ ey
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