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Visa 2Q profits fall 2%, as economic slowdown hits payments

NEW YORK (AP) — Visa Inc.'s fiscal second-quarter profits fell 2% from a year earlier, as the company dealt with a slowdown across its payment network due to the global pandemic. Th...

Venmo is into crypto, allowing users to buy Bitcoin, others

NEW YORK (AP) — Venmo will allow users to buy and sell cryptocurrencies on its app, the company said Tuesday, the latest mainstream financial platform to wade into alternative currency like Bitcoin. ...

Profits at Goldman Sachs surge in 1Q, helped by trading

NEW YORK (AP) — Investment bank Goldman Sachs saw its profits nearly quintuple in the first quarter, driven by a massive surge of revenue from its core investment banking and trading operations. ...

JPMorgan 1Q profit up sharply, helped by improving economy

NEW YORK (AP) — JPMorgan Chase saw its first-quarter profit jump nearly five fold from a year earlier, as the improving economy allowed the bank to release roughly $5 billion from its loan-loss reserv...

Banks to see big profits as COVID 'bad' loans become 'good'

NEW YORK (AP) — The nation’s largest banks are expected to report big profits for the first quarter amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and st...

Even with pretax profits, many big companies pay zero US tax

NEW YORK (AP) — Just as President Joe Biden is pushing to raise taxes on companies to help pay for his infrastructure plan, a report from a Washington policy group is highlighting how many of them pay...

EXPLAINER: What's a SPAC, the latest craze on Wall Street?

CHARLOTTE, N.C. (AP) — WeWork will finally go public this year, allowing investors to buy and sell its shares. But not through a traditional IPO. In the two years since the office-sh...

AP-NORC poll: Many in US still face COVID-19 financial loss

CHARLOTTE, N.C. (AP) — Roughly 4 in 10 Americans say they’re still feeling the financial impact of the loss of a job or income within their household as the economic recovery remains uneven one year i...

Biden choice for watchdog makes debut in nomination hearing

CHARLOTTE, N.C. (AP) — President Joe Biden's nominee to run the federal consumer watchdog agency is likely to be face hostile questioning from Republican Senators on Tuesday, but is likely to be confi...

'Operational error' causes Fed payment system to crash

CHARLOTTE, N.C. (AP) — The Federal Reserve's back-end payment system that banks, government entities and investors rely on to transfer cash temporarily went dark on Wednesday. The Fe...

Asian shares mostly gain after Biden speaks with China's Xi

Major Asian stock indexes were mostly higher on Thursday after President Joe Biden held his first conversation with Chinese leader Xi Jinping since taking office. Many markets in As...

Study: Smaller cars may be why crashes injure women more

CHARLOTTE, N.C. (AP) — The smaller, lighter vehicles that women more often drive, and the types of crashes they get into, may explain why they are much more likely to suffer a serious injury in a coll...

Ford to cut back F-150 production due to chip shortage

CHARLOTTE, N.C. (AP) — Ford Motor Co. said Thursday that it will cut shifts at two of its U.S. manufacturing plants next week, due to the worldwide chip shortage that has also impacted other automaker...

GameStop saga makes Wall Street an issue for Biden team

WASHINGTON (AP) — The drama surrounding the trading in shares of GameStop, AMC Entertainment, Blackberry and other beaten-down companies has suddenly thrust Wall Street near the top of a crowded list ...

Asian shares drop after US stocks' worst day since October

TOKYO (AP) — Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October. ...