Bank of America CEO Brian Moynihan said Tuesday that the U.S. banking industry will embrace cryptocurrencies for payments if regulators allow it. The head of the second largest U.S. bank by assets was asked by CNBC’s Andrew Ross…
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Business
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President Donald Trump isn’t expected to carry through on his threat to impose sweeping tariffs on the first day of his presidency, a move that economists have warned could lead to higher prices for Americans…
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The Department of Justice said Friday that it sued pharmacy giant Walgreens over allegedly dispensing millions of unlawful prescriptions. The DOJ said that Walgreens from August 2012 until the present “knowingly” filled those prescriptions, which “lacked a legitimate medical purpose, were…
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Business
Capital One outage drags into Friday afternoon, leaving some customers without deposit access
An outage affecting Capital One customers dragged into its second day Friday, further preventing some customers from accessing deposits, payments and transfers. In an afternoon statement, the bank said it was still restoring systems that…
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The Federal Trade Commission said Friday that it is suing PepsiCo for illegal price discrimination, alleging the food and beverage giant gave an unnamed retailer more favorable prices than its competition. Walmart is the unnamed retailer, people familiar with the…
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Business
Vanguard fined more than $100 million by SEC over violations involving target date retirement funds
Asset management giant Vanguard has been fined more than $100 million to settle charges related to disclosures around target date investment funds, the Securities and Exchange Commission announced Friday. The alleged violations stem from a 2020 change…
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The U.S. Food and Drug Administration formally authorized Zyn nicotine pouches for sale after conducting an ‘extensive scientific review’ about their safety. In a release Thursday, the agency said it had found that the popular…
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The CEO of UnitedHealth Group said Thursday that shortcomings of America’s health care system must be addressed. On the company’s first earnings call since the fatal shooting of UnitedHealth executive Brian Thompson, CEO Andrew Witty…
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A group of high powered investors want to raise billions to form a new international basketball league, according to people familiar with the matter. The new organization would offer players equity, those people said. The…
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American Express will pay a total of about $230 million to resolve federal wire fraud investigations, and to settle civil allegations of deceptive marketing, the company said Thursday. The tally includes more than $138 million as…