Customers Financial News

Credit card giant American Express posted a 34% jump in its first quarter profits on Friday, helped by more customers spending on its namesake cards as well as more customers keeping a balance on the cards

it is cutting 10 per cent of its staff globally- around 14,000 jobs. Also Read: Elon Musk in India: From meeting PM Modi to Agra visit, check out Tesla CEO's likely plans for upcoming visit The next day, Tesla announced it would try to re-instate Musk's $56 billion pay package that was rejected by a Delaware judge in January, who said that the arrangement was dictated by Musk and was the product of negotiations with directors who were not independent of him, according to Associated Press. Tesla shares hit an all-time intraday high of $415.50 in November of 2021, adjusted for a 3-for-1 stock split that took effect in August 2022.

OpenAI is aiming to use its popular chatbot ChatGPT—it said 600,000 individuals pay for business versions of it—as a way to gain an entry into businesses and sell them its enterprise artificial-intelligence services. Those individuals are paying for ChatGPT Enterprise or ChatGPT Team, which make up what OpenAI calls its “business products," according to OpenAI Chief Operating Officer Brad Lightcap.

The 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court judge should not have relied on a December 2021 user agreement to find that Coinbase did not hold title to, and was not the seller of, 79 tokens that the customers traded.

ICICI Bank has issued a cautionary advisory to its customers against new online fraud. The private sector lender has urged account holders to remain vigilant against malicious links and applications being circulated on platforms like WhatsApp, email, and others.

Chase is the latest company to bring its data to bear on behalf of advertisers. The JPMorgan Chase bank on Wednesday said a new unit called Chase Media Solutions will let marketers tempt Chase customers with targeted deals and discounts related to their spending history. Chase joins a variety of businesses from Best Buy to Uber that have begun selling ad space on their apps, websites and other properties, often targeting messages by using their shopper and user data to generate revenue outside of their core businesses.

The theft of sensitive information belonging to millions of AT&T’s current and former customers has been recently discovered online

NEFT transactions may get delayed/ may not be available on 1st April 2024 due to financial year-end procedures. We request you to please complete your transaction using IMPS, RTGS or UPI during this period. We regret any inconvenience this may cause," HDFC Bank said in an email to its customers.

HDFC Bank has informed its customers that National Electronic Funds Transfer (NEFT) transactions may not be available on April 1, 2024, due to procedures regarding financial year-ending. Even if the NEFT facility is available for select HDFC Bank customers, it may get delayed. So those who are planning to transfer money may avoid NEFT on Monday. Further, if you receive salary or other payments through NEFT transfer on April 1, 2024, they may also get delayed due to the same reason. HDFC Bank customers may use other transaction methods such as Immediate Payment Service (IMPS), Real Time Gross Settlement (RTGS), and Unified Payments Interface (UPI) to transfer money on April 1, 2024.

Axis Bank credit card holders took to social media platforms like X (formerly Twitter) to report unauthorised transactions, including international purchases made without their consent. One user claimed to have received a fraudulent transaction alert from Uber Eats Canada, while others complained about being unable to close their credit cards due to technical glitches on the bank's app, as per the report.

Axis Bank customers have faced fraudulent transactions, as some of them have highlighted their concerns on social media.

banks have seen an erosion in their low cost deposits as customers chase higher yields, and infrastructure demand is accelerating with the segment witnessing strong loans growth, showed a survey of bankers. ``Customers’ search for higher rates and the ability to lock those interest rates for a longer time has led to a shift in favour of term deposits,’’ said the FICCI-IBA Survey of Bankers. ``Term deposits have picked up pace. Around 70% respondents have reported a decrease in the share of CASA deposits in total deposits.’’ Some sectors like infrastructure, iron & steel and food processing are witnessing growth in long term credit demands. Major infrastructure development plans have been in place by the Government to facilitate quick capital spending with a strong multiplier effect and this is likely to spur demand for infrastructure financing, said the report.

American bank customers are concerned that overregulation of the banking industry will lead to restricted access to credit.

The CEO of United Airlines is trying to reassure travelers that the airline is safe despite a series of recent incidents ranging from a panel falling off a plane to an engine fire

Ethiopia's largest bank is struggling to recoup millions of dollars after a glitch over the weekend allowed customers to withdraw unlimited funds, according to local media reports.

extended deadline. The RBI on January 31 directed PPBL to stop accepting deposits or top-ups in customer accounts, wallets, FASTags, and other instruments after February 29, due to concerns around large-scale non-compliance of regulations and supervisory issues. Particularly, the fintech startup was found to be in breach of know-your-customer (KYC) requirements and other RBI-mandated processes.

For some Loblaw customers in Ontario, their next grocery run might look and feel a little different.

Canada’s biggest grocers are investing money and space in discount stores such as No Frills, Food Basics and FreshCo as shoppers look for ways to save on food amid the higher cost of living.Converting grocery stores to discount is a relatively easy move, experts say, and one that is helping the grocers keep profits steady despite consumers seeking ways to rein in their spending.“There’s all sorts of things that … people are doing, but one of them is looking for cheaper options. And so they are going to discount stores,” said Michael von Massow, a food economy professor at the University of Guelph.Each of the major Canadian grocers has several different store brands, also known as “banners” — from high-end to conventional to discount.

MintGenie, Nayar said that SoftPOS technology transforms regular smartphones or tablets into payment terminals, eliminating the need for separate hardware. Payment service providers are utilizing the Open Network for Digital Commerce (ONDC) to streamline customer experiences by integrating with its infrastructure. Through ONDC, providers can access a standardized platform, facilitating interoperability among various digital commerce players.

Gemini - founded by Tyler and Cameron Winklevoss - made the commitment in a deal with the New York State Department of Financial Services that also sees the firm pay a $37 million fine. The agreement relates to a failed partnership between Gemini and DCG unit Genesis on the former's Earn interest-bearing product.

AT&T says it will give affected customers $5 each to compensate for last week’s network outage