AXP – The News Desk

Apple Pulls Plug on Goldman Credit-Card Partnership

29Nov

By adminNo Comments

Money

Apple Pulls Plug on Goldman Credit-Card Partnership

Apple is pulling the plug on its credit-card partnership with Goldman Sachs, the final nail in the coffin of the Wall Street bank’s bid to expand into consumer lending. The tech giant recently sent a proposal to Goldman to exit from the contract in the next roughly 12-to-15 months, according to people briefed on the matter. The exit would cover their entire consumer partnership, including the credit card the companies launched in 2019 and the savings account rolled out this year.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

28Nov

By adminNo Comments

World

Apple Pulls Plug on Goldman Credit-Card Partnership

Apple is pulling the plug on its credit-card partnership with Goldman Sachs, the final nail in the coffin of the Wall Street bank’s bid to expand into consumer lending. The tech giant recently sent a proposal to Goldman to exit from the contract in the next roughly 12-to-15 months, according to people briefed on the matter. The exit would cover their entire consumer partnership, including the credit card the companies launched in 2019 and the savings account rolled out this year.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

American Borrowers Are Getting Closer to Maxing Out

25Nov

By adminNo Comments

World

American Borrowers Are Getting Closer to Maxing Out

A happy holiday shopping season might not end up being an especially cheery time for lenders.Card loans are still growing, on average rising 1.6% in October over September across five big U.S. card lenders, versus a seasonally typical 0.7% increase, according to tracking of the latest monthly data by analysts at Goldman Sachs. The trend suggests that consumers still are willing and able to use their cards, portending well for retailers. U.S. retail sales slowed in October, but by less than feared, and were still at an overall solid level. Some retail stocks have jumped recently on hopes for holiday shopping.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

25Nov

By adminNo Comments

Money

American Borrowers Are Getting Closer to Maxing Out

A happy holiday shopping season might not end up being an especially cheery time for lenders.Card loans are still growing, on average rising 1.6% in October over September across five big U.S. card lenders, versus a seasonally typical 0.7% increase, according to tracking of the latest monthly data by analysts at Goldman Sachs. The trend suggests that consumers still are willing and able to use their cards, portending well for retailers. U.S. retail sales slowed in October, but by less than feared, and were still at an overall solid level. Some retail stocks have jumped recently on hopes for holiday shopping.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Warren Buffett’s Berkshire Hathaway Sheds Investments in GM, J&J and P&G

15Nov

By adminNo Comments

Money

Warren Buffett’s Berkshire Hathaway Sheds Investments in GM, J&J and P&G

Warren Buffett’s Berkshire Hathaway eliminated its stake in a handful of American blue chips, including General Motors and Johnson & Johnson, while the stock market’s rally sputtered in the third quarter.The company also sold off smaller positions in Procter & Gamble, Mondelez International and United Parcel Service, while trimming its investments in Amazon.com, Chevron and HP, among others.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8