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A group of 19 large retailers, including Wal-Mart Stores Inc. (WMT), Costco Wholesale Corp. (COST) and Starbucks Corp. (SBUX), are opting out of a pending class-action settlement with Visa Inc. (V) and MasterCard Inc. (MA), potentially setting the stage for more battles over transaction-processing fees.The merchants say the pending deal reached last summer won't stop so-called swipe fees from rising and violates their legal rights by preventing them from bringing legal action against the credit-card networks for alleged anticompetitive behavior in the future."If this settlement is approved, it would allow credit card companies and big banks to perpetuate an unfair and broken system that costs all consumers, including those who don't even have a credit or debit card," Mike Cook, senior vice president of finance and assistant treasurer for Wal-Mart, said Tuesday in a statement.The group of merchants, which also includes Gap Inc. (GPS), Lowe's Cos. (LOW), Nike Inc. (NKE), 7-Eleven Inc. an...
It is tough to malign hard disk drive makers such as Seagate Technology (NYSE:STX) and Western Digital (NYSE:WDC).Year-to-date, Seagate is up 26 percent while Wester...
Thinking of living abroad ? Join the club. Faced with a sluggish job market at home, a growing number of Americans are looking outside the country for career and gro...
Earlier this year I had to rent a car for one day, so I found what I thought was the most reasonable rate with a company, and went on my way. I ended up returning th...
An Indian payment card processing company acknowledged on Monday that hackers breached its security to increase the limits on some pre-paid card accounts in a global...
Because the sums were large and such attacks are relatively new, the two Middle East banks hit in a $45 million ATM heist face an uncertain path in trying to recover...
One of the credit card processing companies whose security was breached in a $45 million global cyber heist was India's ElectraCard Services, according to two people...
Federal prosecutors charged eight individuals on Thursday with participating in a sophisticated campaign of cyber attacks on the global financial system that caused ...
The U.S. charged eight individuals with stealing debit card data from two Middle Eastern banks in a scheme that prosecutors said netted them $45 million in a matter ...
Discover Financial Services (DFS) struck a deal with a unit of German software maker SAP AG (SAP) to process payments made between businesses, the credit-card compan...
With earnings season entering its final leg, don't be fooled by record-breaking earnings per share -- revenue has been a huge disappointment.Average S&P 500 EPS as o...
MasterCard Inc.'s (MA) top executive Ajay Banga said a ruling last year by the World Trade Organization could spur revenue growth in China but the size of that oppor...
Luxury retailer Nieman Marcus Group is reportedly eyeing a possible sale or public stock offering, as the company talks to banks about strategic options.According to...
A group of 19 large retailers including Wal-Mart Stores Inc. (WMT), Costco Wholesale Corp. (COST) and Starbucks Corp. (SBUX) are opting out of a pending class-action...
Dear Cashing In,I've got a green American Express I've had since the early 1990s. It is my oldest card by at least a decade. My second-oldest card is an AmEx Starwoo...
A brazen gang of cyber criminals, who stole $45 million from bank ATMs in 27 countries, exposes an Achilles heel in the global financial industry: prepaid debit card...
Visa Europe, the European licensee of Visa Inc. , has offered to cap its inter-bank credit card fees at the same level as rival MasterCard to end a European Union an...
Visa Europe has proposed cutting some of the fees it charges for the use of its credit cards, in a move that could resolve a long-running antitrust probe by European...
As ETFs have surged in popularity, analysts and investors have wondered which funds would be appealing to legendary value investor Warren Buffett. Buffett's Berkshir...
Visa Europe, the European licensee of Visa Inc. , has offered to halve its inter-bank credit card fees to 0.3 percent for four years to end a European Union antitrus...
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