Bank and Credit Card Provider Investments in Easy-to-Use Digital Tools Pay Off, J.D. Power Finds

TROY, Mich.–(BUSINESS WIRE[1])–During the height of the COVID-19 pandemic, 37% of retail bank customers said they were using their bank’s mobile app more frequently than ever before, and 48% said their preferred means of depositing a check during that period was via mobile phone. Years of digital investments are paying off as banks support homebound customers to continue their banking...

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Macy’s, Inc. Raises Approximately $4.5 Billion in Financing

NEW YORK–(BUSINESS WIRE[1])–Macy’s, Inc. (NYSE:M) today announced the closing on approximately $4.5 billion of new financing, including its previously announced $1.3 billion of 8.375% senior secured notes, as well as a new $3.15 billion asset-based credit agreement. In addition, the company has amended and substantially reduced the credit commitments of its existing $1.5 billion unsecured credit agreement. The company intends...

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American Express Reports First-Quarter Revenue of $10.3 Billion and Earnings Per Share of $0.41

NEW YORK–(BUSINESS WIRE[1])–American Express Company (NYSE: AXP) today reported first-quarter net income of $367 million, or $0.41 per share, compared with net income of $1.6 billion, or $1.80 per share, a year ago. (Millions, except percentages and per share amounts) Quarters Ended March 31, Percentage Inc/(Dec) 2020 2019 Total Revenues Net of Interest Expense $ 10,310 $ 10,364 (1) Net...

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Press release: renewal of the Flexible Credit Line for Colombia

Today the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Colombia. Afterward, an informal meeting was held to discuss the country’s Flexible Credit Line (FCL). At the end of the meeting, Kristalina Georgieva, IMF Managing Director, issued a statement recommending to the IMF Executive Board to approve the FCL for Colombia in response to...

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