Archive for April, 2009

Visa shares climb on strong second quarter report

Shares of Visa Inc. rose Thursday after the credit card processor handily beat Wall Street expectations and posted a 71 percent jump in second-quarter profit. (46 secs ago)

Massey Cutting Wages 6% For All Employees

Chief Executive Don Blankenship told analysts Wednesday the cuts will occur May 1 and should reduce wages and benefits between $50 million and $60 million. (2 mins to go)

Minimum wage hike largly symbolic

In January, Kansas will no longer have the lowest minimum wage $2.65 an hour in the nation. On April 23 Gov. Kathleen Sebelius signed a bill to increase the wage to $7.25, on a par with the federal minimum wage after it increases in July from the present $6.55. (52 secs ago)

Two Southampton residents victims of alleged Ponzi scheme

Two Southampton residents were among the victims of an alleged $413 million Ponzi scheme coordinated by a Hauppauge investment advisor, according to a grand jury indictment unsealed on Thursday, April 23. (3 mins ago)

RBI norms for issuing prepaid mobile vouchers soon

Agencies Mumbai, April 26: The Reserve Bank of India will soon come out with guidelines permitting banks and qualified non-banking entities to issue prepaid instruments like mobile vouchers and wallets that can be used to purchase goods and withdraw cash from ATMs. (30 mins ago)

Negotiation training opens doors to a better deal

Achieving discounts with suppliers and service providers when running a small business is truly an art, and not a knack that comes naturally to everyone. Jonathan Kleiman recently was able to reduce his business costs by 40%, but only after taking Negotiating Law 335, part of the law program at Queen’s University in Kingston, Ont. (37 mins ago)

Banks face fines for poor service

Banks will face fines for poor treatment of their customers when the City watchdog takes over regulation of retail banking conduct. (3 mins ago)

Obama hosting credit-card CEOs, pledges new rules

President Barack Obama, appealing to mainstream consumers, is pushing for more legal protection for the millions of Americans who use credit cards. Obama was meeting with leaders of the credit-card industry Thursday, and he’s already backing tougher legislation. (3 mins to go)

Credit card bill tests Democrats’ political will

A Congressional panel is expected to approve legislation on Wednesday that would curb high credit card fees and penalties assessed by many banks that have benefited from the federal government’s financial bailout program. (8 mins ago)

Bank of America posts 1Q profit but stocks fall

Bank of America Corp. warned of worsening loan default problems Monday even as it posted a first-quarter profit of $2.81 billion. Investors concerned about the banking industry’s health sent financial stocks and the overall market sharply lower. (2 mins ago)