Category: Business
TransUnion Reports Decrease in Credit Card Delinquency, Debt
Getty(CHICAGO) — More people now qualify for credit cards, even if they don’t have a stellar credit history. TransUnion, the credit reporting firm, says banks are issuing more cards, and fewer people were 90 or more days late on their payments i…
Shareholders sue JPMorgan over trading loss
New York: JPMorgan Chase & Co was the target of two separate lawsuits by shareholders on Wednesday, accusing the bank and its management of excessive risk that led to trading losses of at least $2 billion.A spokesman for JPMorgan Chase declined…
Philadelphia Woman, 73, Testifies Age Has Kept Her Unemployed
Courtesy of the Senate Committee on Aging(NEW YORK) — Sheila Whitelaw of Philadelphia is a college graduate and has managed three different non-profits as executive director. Despite her experience, she said one particular trait may have caused …
JPMorgan investment unit played by different high-risk rules
London/Frankfurt: The JPMorgan Chase & Co. unit that lost more than $2 billion through a failed hedging strategy had looser risk controls than the rest of the bank, according to people familiar with the situation.The risk of losses is tallied b…
Many Employers Looking to Hire this Summer, Survey Finds
Tim Boyle/Getty Images(NEW YORK) — Looking for a summer job? Well, there’s good news for you. A new report out Wednesday by CareerBuilder.com says employers in many industries are boosting their hiring plans.”We found that 29 percent of em…
Virgin Atlantic Allows In-Flight Phone Calls
Virgin Atlantic(NEW YORK) — The debate over using cellphones in flight is about to ignite once again. But this time, it’s not about safety.Virgin Atlantic announced it will become the first British airline to provide passengers with a service to…
GM Pulls Ads Off Facebook
Bill Pugliano/Getty Images(NEW YORK) — Just about everyone is excited about Facebook’s initial public offering scheduled for Friday that could value the social networking site at a whopping $105 billion.Somehow, that doesn’t impress the folks at Gener…
Made in America, Please? China Shells Out for US Exports
Dynamic Graphics/Thinkstock(NEW YORK) — In China, there is a hunger for all things American — and U.S. businesses, small and large, are taking note.According to the U.S.-China Business Council, the Chinese spent $104 billion in U.S. exports in the la…
Facebook IPO: What’s the Big Deal and Who’s Buying?
LOIC VENANCE/AFP/Getty Images(NEW YORK) — With Facebook set to go public Friday, some may be wondering what all the buzz is all about.
Andrew Serwer, managing editor of Fortune magazine, says the social network is more than just a fad. It’s like…
Reid Says JPMorgan Should ‘Take Their Business to Las Vegas’
Alex Wong/Getty Images(WASHINGTON) — Senate Majority Leader Harry Reid, D-Nev., suggested Tuesday that JPMorgan “take their business to Las Vegas,” after the bank’s $2 billion loss stemming from bad trades.“Because it’s j…
