Archive for September, 2016

American Express Wins In Appeals Court

A federal appeals court has ruled that American Express (NYSE:AXP) can block merchants that accept its cards from steering customers toward lower-cost cards from other issuers. The provisions in American Express’ merchant agreements are meant to dissuade customers from using cards from Visa and MasterCard at retailers that take American Express cards. American Express had […]

Wells Fargo Scandal Shines Harsh Spotlight On Bank Practices

Wells Fargo & Co. (NYSE:WFC) is finding its policies under a harsh spotlight after the bank found itself entangled in a scandal over the opening of fraudulent accounts by its employees. A federal regulator and the Los Angeles prosecutor alleged that the company‚Äôs employees created roughly 2 million accounts for customers without their knowledge. Chief […]

Tech Giants Join Microsoft In Fight Against DOJ

Microsoft (NASDAQ:MSFT) has lots of allies in its fight against government intrusion. Tech giants Apple, Amazon, and Google have announced their support for Microsoft in its legal fight with the U.S. Department of Justice. News organizations The Washington Post, Fox News, and the National Newspaper Association also filed in support of Microsoft, along with Delta […]

7,000 Wal-Mart Employees To Lose Jobs

Wal-Mart Stores Inc. (NYSE:WMT) has announced plans to eliminate nearly 7,000 employment positions across its companies over the next several months. The job cuts will affect thousands of back-office positions around the country, including many store accounting and invoicing positions. Their tasks will now be handled by a central office or automated, according to company […]