PayPal Sees Strong Growth in Online Payments

PayPal Holdings Inc on Thursday showed strong growth in its online payments business, meeting Wall Street expectations on earnings and announcing a new partnership with Visa Inc that is expected to bring a significant revenue increase.

Visa Reports Steep Drop in Profits

Visa Inc , the world's largest payments network operator, reported a steep drop in quarterly profit, hurt by costs related to the acquisition of Visa Europe, and said it would buy back Class A shares worth $5 billion.

GM's Profit More Than Doubles

General Motors, bolstered by strong truck and SUV demand in its core market, posted a 157% increase in net profit in the second quarter compared with the same period a year ago.