Tag Archives: Credit

This month Wells Fargo (WFC) announced it was shutting down personal lines of credit, a lending product consumers could use to consolidate debt, pay for surprise expenses, or even use as a checking overdraft safety net.  The decision was made after an early 2020 review of its businesses, where the bank found that personal lines of credit weren’t as popular as loans, and only 40% of account holders had balances, a bank spokesperson told Yahoo Finance. (The main difference between a personal… Source link

(Bloomberg) — Tesla Inc. is about to lose one source of the regulatory-credit revenue that’s been crucial to its almost two-year run of consecutive quarterly profits. Stellantis NV, the automaker formed through the merger of PSA Group and Fiat Chrysler, announced Wednesday it is exiting a European emissions-credit agreement with Tesla. Complying with standards on its own will save the company about 300 million euros ($360 million), roughly two-thirds of which would have gone to Tesla, Chief… Source link

The Internal Revenue Service is on track to send the monthly advanced payments for the Child Tax Credit (CTC) starting in July, according to IRS Commissioner Charles Rettig. The payments are worth up to $300 per child. The agency is also launching a portal where taxpayers will be able to update their information by July 1. “We will launch by July 1 with the absolute best product we are able to put together,” Rettig told the Senate Finance Committee on Tuesday. “We might need to adjust… Source link

TipRanks 3 Monster Growth Stocks With More Room to Run For investors looking for a hint as to policy-makers’ view of the economy, the Federal Reserve has come through. The central bank released the minutes of its most recent policy meeting – at which it decided not to raise interest rates or scale back on its easy-money polices – and the inside look at the Fed committee’s deliberations shows that the decision was broad-based. The Fed is in no hurry to move to a tighter money policy,… Source link

(Bloomberg) — Credit Suisse Group AG raced to contain the widening fallout from the collapse of Greensill Capital as it acknowledged defaults are coming in a $10 billion group of now-frozen funds that the bank touted for their safety. Facing client furor and regulatory probes over the collapse of the short-term debt funds, the Swiss bank demoted one of its top executives, withheld bonuses for some and separated the asset management unit at the center of the scandal from the much more… Source link

Amazon (AMZN) Web Services (AWS) is the backbone of much of the internet, counting millions of websites as its customers, ranging from Airbnb (ABNB) and Ancestry.com to McDonald’s (MCD) and Volkswagen.  The world’s largest cloud provider, it has ensured that video chatting apps like Zoom (ZM), streaming services like Netflix (NFLX), and virtual learning platforms have operated throughout a pandemic that has kept everybody at a physical distance. And according to Amazon CTO Werner Vogels,… Source link

When the coming $1.9 trillion relief package becomes law, Americans will be eagerly awaiting their $1,400 checks. But White House officials have made it clear this week they are just as focused on another provision in the massive bill which – they hope – may prove to be a more durable expansion of the government’s social safety net. The child tax credit is set to more than double, with families starting to get checks in July. It is “a way of getting at that basic benefit for every… Source link

Westbrook says Brooks isn’t getting enough credit for wins originally appeared on NBC Sports Washington After the Wizards won their fourth straight game on Saturday night and praise was being heaped on Russell Westbrook and Bradley Beal who each had big nights, Westbrook took time to shine a light on someone he does not believe is getting enough respect for his role in the team’s recent turnaround. That would be head coach Scott Brooks, who has taken a lot of heat this season as the Wizards… Source link

Americans are increasingly taking advantage of the buy-now, pay-later (BNPL) offerings thanks to a growing number of financial technology companies. Splitting payments — as opposed to bulk purchases on credit cards that would accrue interest until being paid — is built on the premise that there is a “shift away from credit to debit,” Nicholas Molnar, co-founder and U.S. CEO of Afterpay, an Australian BNPL startup with more than 11 million customers that operates with 64,000 merchants,… Source link

TipRanks 3 “Strong Buy” Stocks with Over 9% Dividend Yield Markets ended 2020 on a high note, and have started 2021 on a bullish trajectory. All three major indexes have recently surged to all-time highs as investors seemingly looked beyond the pandemic and hoped for signs of a rapid recovery. Veteran strategist Edward Yardeni sees the economic recovery bringing its own slowdown with it. As the COVID vaccination program allows for further economic opening, with more people getting back to… Source link