MasterCard Inc. (MA), the world’s second- largest payments network, named Ann Cairns president of international markets and Walt Macnee vice chairman. Cairns will start on August 22 from Alvarez & Marsal Inc., a consulting company, and report to Chief Executive Officer Ajay Banga, Purchase, New York-based MasterCard said today in a statement. She will manage [...]
Citigroup Inc. said Thursday that hackers accessed the credit card information of tens of thousands of its North American customers. The bank said it recently discovered during routine monitoring that account information for about one per cent of customers was viewed. Citigroup says that hackers have gained access to credit card information of some of [...]
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Citigroup Inc posted a $1.3 billion quarterly profit on Tuesday, as losses on bad loans fell, but the bank missed estimates on its earnings as it struggled with a slump in revenue. Shares of Citigroup fell about 3.5% to $4.95 in premarket trading. The third-largest U.S. bank, which took $45 billion in U.S. bailout funds [...]
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The bank’s mortgage and credit losses have eased this year as the economy has improved. But its loan book is not growing, raising questions about where future profit growth will come from. JP Morgan shares climbed slightly in premarket trading after the second-largest U.S. bank by assets reported third-quarter net income of $4.4 billion, or [...]
Chronically high unemployment is disrupting what once used to be easy math: the tight correlation between joblessness and souring credit-card loans. For years, the rate at which credit-card companies write off loan balances has shadowed the unemployment rate. An out-of-work borrower, of course, tends to fall behind on payments. But for months now, some U.S. [...]
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