Friday, November 22

Tag: Credit Types/Services

Buy Now, Pay Later Keeps People Spending—Without Credit Agencies Knowing 
17Dec By adminNo Comments
Money

Buy Now, Pay Later Keeps People Spending—Without Credit Agencies Knowing 

Priscilla Rodriguez, an overnight stocker at a Walmart, has a strategy to protect her credit score as she and her husband look to buy a house.The Sunland Park, N.M., resident uses installment loans from Afterpay to buy groceries, her pricey skin-care products and art supplies for her 10-year-old son, which keeps the balance on her two credit cards low—and the credit agencies in the dark. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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2Dec By adminNo Comments
Money

A Divorce With Apple, Internal Strife: How Goldman’s Main Street Bet Failed

Updated Dec. 2, 2023 12:23 am ETAt an off-site in upstate New York last month, during a dinner lasting roughly three hours, Goldman Sachs Chief Executive David Solomon told partners that the firm had made some mistakes with consumer lending. But, he said, the business wasn’t as bad as they thought and they didn’t understand the details. He wouldn’t tolerate partners trash-talking Goldman’s decision to get into consumer lending, he told them.Goldman has known for a while that consumer lending wasn’t really working out, and the bank has been looking for the exits. But it was Apple that sealed it. The tech giant recently sent a proposal to Goldman that would pull the plug on their credit-card partnership, the crown jewel of the business.Copyright ©2023 Dow Jones & Company, Inc. All Right...
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2Dec By adminNo Comments
World

A Divorce With Apple, Internal Strife: How Goldman’s Main Street Bet Failed

Updated Dec. 2, 2023 12:23 am ETAt an off-site in upstate New York last month, during a dinner lasting roughly three hours, Goldman Sachs Chief Executive David Solomon told partners that the firm had made some mistakes with consumer lending. But, he said, the business wasn’t as bad as they thought and they didn’t understand the details. He wouldn’t tolerate partners trash-talking Goldman’s decision to get into consumer lending, he told them.Goldman has known for a while that consumer lending wasn’t really working out, and the bank has been looking for the exits. But it was Apple that sealed it. The tech giant recently sent a proposal to Goldman that would pull the plug on their credit-card partnership, the crown jewel of the business.Copyright ©2023 Dow Jones & Company, Inc. All Right...
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Celsius Details Plan to Focus on Bitcoin Mining Post Bankruptcy
1Dec By adminNo Comments
World

Celsius Details Plan to Focus on Bitcoin Mining Post Bankruptcy

Nov. 30, 2023 7:43 pm ET|WSJ ProCrypto lender Celsius Network provided details Thursday of its plan to only mine bitcoin when it emerges from bankruptcy, a scaled-down business that reflects guidance from regulators. Earlier in November, Celsius received approval from a bankruptcy court in New York to create a new company built around Celsius’s bitcoin-mining business, staking activities and monetizing of illiquid assets that was going to be managed by Fahrenheit, an investor group backed by TechCrunch founder Michael Arrington that included US Bitcoin.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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The Cost of Doing Business With China? A $40,000 Dinner With Xi Jinping Might Be Just the Start
28Nov By adminNo Comments
World

The Cost of Doing Business With China? A $40,000 Dinner With Xi Jinping Might Be Just the Start

Updated Nov. 28, 2023 12:17 am ETBroadcom Chief Executive Hock Tan shelled out $40,000 to sit at Xi Jinping’s table for the Chinese leader’s recent dinner in San Francisco with the heads of American businesses. Tan had a lot more at stake—a $69 billion deal he was waiting on China to approve.For months, Chinese regulators wouldn’t clear the U.S. chipmaker’s bid to buy enterprise software developer VMware, leading Broadcom to put off its date for completion of the deal—first announced in May 2022—three times. Beijing had held up previous mergers involving U.S. companies. Intel’s planned acquisition of Israeli firm Tower Semiconductor, for more than $5 billion, was scuttled in August after Chinese regulators failed to approve it.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reser...
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Black Friday Spending Was Strong. How People Pay for Gifts Is Upending Retailers.
27Nov By adminNo Comments
World

Black Friday Spending Was Strong. How People Pay for Gifts Is Upending Retailers.

Updated Nov. 26, 2023 2:50 pm ETRetailers aren’t just having trouble getting shoppers to buy sweaters and other holiday items this season. Store credit cards are also a tougher sell.The cards, which typically can only be used at a particular chain, have been a lucrative source of revenue for retailers as merchandise sales have slowed. But the stream is drying up as Americans carry fewer cards and increasingly finance purchases with buy now, pay later providers. Interest rates surpassing 30% on some retailers’ credit cards aren’t helping, according to analysts.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Black Friday Spending Was Strong. How People Pay for Gifts Is Upending Retailers.
26Nov By adminNo Comments
World

Black Friday Spending Was Strong. How People Pay for Gifts Is Upending Retailers.

Updated Nov. 26, 2023 2:50 pm ETRetailers aren’t just having trouble getting shoppers to buy sweaters and other holiday items this season. Store credit cards are also a tougher sell.The cards, which typically can only be used at a particular chain, have been a lucrative source of revenue for retailers as merchandise sales have slowed. But the stream is drying up as Americans carry fewer cards and increasingly finance purchases with buy now, pay later providers. Interest rates surpassing 30% on some retailers’ credit cards aren’t helping, according to analysts.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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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
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Private Debt Was Supposed to Collapse When Rates Rose. Instead It Is Everywhere.
13Nov By adminNo Comments
World

Private Debt Was Supposed to Collapse When Rates Rose. Instead It Is Everywhere.

Wall Street’s doom-mongers spent years warning that private lenders would be the next bubble to burst when central banks tightened policy. Instead, the funds are becoming even more ubiquitous as companies scramble to refinance debt in a higher interest-rate environment.Take PetVet Care Centers. The Westport, Conn.-based company operates 450 veterinary clinics and hospitals across the U.S. and has been owned by private-equity giant KKR since 2018. It has been a successful acquisition, but the company is facing a wall of debt maturities that can only be refinanced at higher cost. KKR is providing $600 million of additional equity to ease the burden, while private-debt lender Blue Owl Capital will extend PetVet a $2.3 billion senior loan.Copyright ©2023 Dow Jones & Company, Inc. All Righ...
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