Capital One is the first major bank to avoid overdraft fees

Capital One is the first major bank to avoid overdraft fees

The capital (MEMORY) issued the announcement Wednesday, saying it is getting rid of all fees for overdrafts and insufficient funds. It will also continue to allow customers to get free overdraft protection on their accounts. That makes Capital One, the sixth-largest retail bank in the United States, the first top-ten bank to stop penalizing customers … Read more

‘It is certainly not public spending’

‘It is certainly not public spending’

Investors and politicians like Sen. Sherrod Brown (D-OH) freshened up when Federal Reserve Chairman Jay Powell signaled a change in the Fed’s repeated statement that inflation is transient. “I think it’s probably a good time to retract that word and try to explain more clearly what we mean,” Powell told the Senate Committee on Banking … Read more

The Salesforce stock has the worst day since March 2020 on earnings forecast

The Salesforce stock has the worst day since March 2020 on earnings forecast

Marc Benioff, CEO, Salesforce.com speaks at the World Economic Forum in Davos, Switzerland, January 23, 2020. Adam Galasia | CNBC Salesforce shares fell 10% on Wednesday, their steepest drop since March 2020, when concerns about the dispersed Covid-19 pandemic shocked the market. The decline was followed by disappointing earnings guidance for the fourth quarter financials, … Read more

Biden says that ‘the shelves will be filled up’ for the holiday season

Biden says that ‘the shelves will be filled up’ for the holiday season

“If you saw the news recently, you might think that the shelves in all our stores are empty across the country, that parents will not be able to get gifts for their children this holiday season,” Biden said. “But here’s the deal: For the vast majority of the country, that’s not what’s happening.” The president … Read more

Match will pay Tinder founders $ 441 million to settle financial fraud lawsuit (updated)

Match will pay Tinder founders $ 441 million to settle financial fraud lawsuit (updated)

Tinder’s founders have just won a partial victory in their lawsuit against Match Group due to alleged financial trick. Match has agreed to settle the case by paying $ 441 million from its cash reserves. In return, the Tinder co-founders will dismiss the claims from both the lawsuit and the associated arbitration. The lawsuit began … Read more

CEOs’ economic prospects hit the highest level in at least 20 years. But Omicron could change that

CEOs’ economic prospects hit the highest level in at least 20 years.  But Omicron could change that

The influential trading group Business Roundtable said on Wednesday that its CEO Economic Outlook Survey rose during the fourth quarter to the highest level in its 20-year history, even surpassing the high levels seen after the adoption of President Donald Trump’s tax cuts at the end of 2017. “These historically positive results may seem surprising, … Read more

GM raises 2021 earnings guidance on prices and better chip supply

GM raises 2021 earnings guidance on prices and better chip supply

2022 GMC Sierra 1500 Denali Ultimate GM General Motors slightly raises its 2021 earnings guidance on strong prices, resilient consumer demand and a stronger-than-expected supply of semiconductor chips. The Detroit automaker’s new adjusted earnings guidance for this year is about $ 14 billion, up from an already raised guidance of between $ 11.5 billion and … Read more

Why Apple shares rose when technology stocks fell Tuesday

Why Apple shares rose when technology stocks fell Tuesday

Text size iPhones will be unveiled at the grand opening of a new Apple Store in Los Angeles in November. Mario Tama / Getty Images Apple equities were one of the few bright spots as the markets sold strongly from Tuesday, when almost all other major technology stocks traded in the red. Susquehanna Financial Group’s … Read more