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…
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Economy
Economy
Vanguard fined more than $100 million by SEC over violations involving target date retirement funds
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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…
Economy
Investors pitch new international basketball league that would offer players equity
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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…
Economy
American Express to pay $230 million to settle DOJ fraud probe, deceptive marketing claim
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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…
Economy
Capital One outage drags into Friday afternoon, leaving some customers without deposit access
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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…
Economy
FDA officially authorizes Zyn nicotine pouches for sale following health review
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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…
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…
JPMorgan Chase on Wednesday posted record quarterly and annual earnings and revenue, reinforcing the company’s status as the biggest and most profitable bank in U.S. history. Here’s what the company reported:…
Numerous Citibank customers reported receiving fraud alerts and having difficulty accessing their accounts Wednesday. According to DownDetector.com, which tracks reports of digital services interruptions, hundreds of Citibank users had flagged…
Economy
Biden administration seeks to avoid default crisis for student loan borrowers as garnishments resume
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This year, for the first time in roughly five years, borrowers who have defaulted on their federal student loan debt will face collection activity, including the garnishment of their wages and retirement benefits.…