Citigroup Inc had at least one advantage in its successful bid for the exclusive right to issue credit cards for Costco Wholesale Corp, rivals and tax specialists say: it lost so much money during the financial crisis that it has billions of dollars of tax credits.
Tags: American express
Chase To Replace Amex as Credit Card Leader in America
As Costco will replace its credit card from Amex to Citigroup, a new leader credit card will emerge. Chase will take over the throne of sales volume from Amex.
Samsung Reveals Australian Date and Price for Galaxy S7 and S7 Edge
Samsung has revealed the price of Samsung Galaxy S7 and S7 Edge in Australia as A$1,149 and A$1,249 respectively. Both phones will be available on March 11 and offers pre-sale order on February 26.
Billionaire Liu Yiqian Buys $170 Million Painting: 'Reclining Nude' allows him to fly first class for free
Chinese billionaire Liu Yiqian can now fly in first class anywhere in the world for free, after he bought a $170 million painting. Liu Yiqian won a bidding war for "Reclining Nude" painting at Christie's auction in New York earlier this month. "Reclining Nude" was painted between 1917 and 1918 by an Italian artist Amedeo Modigliani.
Samsung now supports Chase Banks and SunTrust
Korean biggest technology company, Samsung today announces that its Samsung Pay service is now accepting credit and debit card from Chase Banks. The new announcement set its service in par with other rivals such as Apple Pay and Android Pay.
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U.S. banks are finding that "co-branded" credit cards they offer with retailers, airlines, hotels and other consumer companies are increasingly a lousy business, one not likely to get better soon, industry executives said.
American Express Co, the world's largest credit card issuer, reported an 8.1 percent rise in quarterly profit due to higher spending by U.S. customers using its credit cards and a rise in its net interest income.
Bangalore, India-based mobile payment startup Ezetap Mobile Solutions is raising an unknown amount of additional capital from credit card giant American Express just a month after it had closed $8 million in its Series B round.
New York, US-based startup school General Assembly scored $25 million in a recent funding round to expand its tech and entrepreneurship course offering and to build new campuses.
New York, US-based business workshop Javelin Inc landed $1.5 million in a funding round led by Mark Suster and Upfron Ventures to teach big companies to innovate like a startup.
Chicago, Illinois-based travel booking site Orbitz Worldwide snapped up Southlake, Texas-based private-label travel solutions firm Travelocity Partner Network, the affiliate network of Travelocity, for an undisclosed amount.
San Francisco, US-based online real-time restaurant reservation platform OpenTable acquired Palo Alto, California-based personalized recommendations app maker Ness Computing in a deal valued at $17.3 million.
New York, US-based storytelling platform Contently raised $9 million in a Series B funding to expand its advertising enterprise tools and ensure that its journalists are equipped with important publishing tools.
San Francisco, US-based big data firm Radius raised $13 million in a funding round led by Formation8 Partners to spot great leads and improve workflows for salespeople.
