PYMNTS

Citigroup’s earnings results showed a bit of bifurcation in consumer spending, as higher credit scoring individuals continue to use their cards and lower FICO consumers are falling behind a bit amid evidence of budget tightening. The company’s earnings release indicates that spending on Citi’s cards was 3% higher than...

Citigroup’s 3% Branded Card Spend Growth Driven by Higher FICO Consumers

Venture capital (VC) firm NEA has reportedly created a $540 million continuation vehicle that has drawn as investors Goldman Sachs Group’s alternatives unit, Industry Ventures, Pathway Capital Management and Goanna Capital. The transaction enables NEA to give its limited partners some liquidity at a time when alternative-asset managers are...

Goldman Sachs Unit Invests in Plaid, Databricks Company Stakes

Goldman Sachs’ GreenSky sale is in the rearview mirror and its pivot from Main Street banking is ongoing. Its latest earnings results, released Monday (July 15), show that “substantially all” of the Marcus loans were sold a year ago. As PYMNTS reported earlier this year, independent digital...

Goldman’s Card Balances Up 11% as Management Is ‘Pleased’ With Credit Performance

Get enough data points in place, and you have a trend. As bank earnings have started to roll in — thus far, from JPMorgan, Wells Fargo and Citigroup — management commentary and earnings supplementals reveal a bit of a mixed picture on spending and credit trends. The headline...

Big Bank Earnings Show Mixed Signals on Consumer Credit Health

Earnings season is in full swing, as big banks – specifically, JPMorgan and Citigroup – helped sway the fortunes of the CE 100 Index. The Index was up 1.3% for the week, as the bank earnings detailed relative strength in consumer spending, though company management at Citi and at JPMorgan took note of pressures facing lower income and lower-credit-scoring consumers.

CE 100 Index Gains 1.3% as Big Banks Post Earnings

Months after Apple debuted the iPad, the tablet had 20,000 apps. The company’s Vision Pro headset, now five months old, has a tenth of that figure. And that could be a problem for Apple as it expands sales of its “spatial computing” product into Europe, Ars Technica reported Friday (July 12), with the company still seeking a “killer app” to woo customers toward the $3,500 device.

Apple Reportedly Still Seeking ‘Killer App’ for Vision Pro

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Anika Jindal

Affluent people can splurge their money on the most luxurious possessions and lifestyles. However, most rich people are wise with money, refrain from making unnecessary purchases, and instead put their money to profitable use. Check out the list of 12 such things.

12 Things People Who Are Good With Money Will Never Spend On

California State

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The HD Post

CALIFORNIA – Starting July 1, landlords will only be allowed to collect one month’s rent for the security deposit on a rental property. Assembly Bill 12, signed into law last October, says regardless of whether the residential property is unfurnished or furnished, only one month’s rent can be charged in addition to any rent for the first month paid on or before initial occupancy.

Law limiting security deposits goes into effect July 1

Kentucky State

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Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

New Jersey State

Morristown Minute

NEW JERSEY - Attorney General Matthew J. Platkin and the Division of Consumer Affairs announced today that Walmart has agreed to pay $1.64 million to settle allegations of unlawful unit pricing practices across its 64 New Jersey retail stores. The settlement, which includes a $1.61 million civil penalty, marks the largest ever obtained by the Division’s Office of Weights and Measures (OWM).

Walmart Pays $1.64M Settlement for Unlawful Pricing in NJ

Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

As Walmart looks to hold its own against Amazon’s growing lead in retail, the company is leaning into its food and beverage stronghold, leveraging automation to scale its omnichannel grocery presence. On Wednesday (July 10), the retail giant announced plans for the future of its grocery network, which include...

Walmart Taps Automation in Bid to Broaden Grocery Lead Over Amazon

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

CALIFORNIA – California voters will get to decide, November 5, on Proposition 32, a measure that raises the minimum wage to $18 an hour for all workers. The current minimum wage is $16 an hour in California and adjusts for inflation. Fast food workers make $20 per hour and health care worker's wage will eventually increase to $25 per hour.

Proposition 32 will allow voters to decide on $18 minimum wage for all California workers

Illinois State

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

PYMNTS reporters, analysts and writers do dozens of interviews every week to bring you the editorial package that is PYMNTS and PYMNTS Intelligence. While they all inform our coverage, some of them rise above the others in terms of candor and insight. With that spirit in mind here are our...

They Said That: Notable Quotables From the Week of July 8, 2024

Ocado CEO Tim Steiner said his company is benefitting from a resumption in online grocery buying. Consumers have gone back to eGrocery following a post-pandemic rise in brick-and-mortar buying, Steiner told Bloomberg Tuesday (July 16) after the grocery technology company reported earnings showing it nearly halved its losses. “This whole...

Ocado Sees Consumers’ Embrace of Online Grocery Return

MORRISTOWN, NJ – New Jersey's Attorney General Matthew J. Platkin, backed by the Division on Civil Rights (DCR), has issued a Finding of Probable Cause against Prince Telecom LLC, alleging disability discrimination. This action follows a complaint where Prince Telecom is accused of denying employment to an applicant using medical marijuana legally to manage a disability.

Cable Company Faces Discrimination Lawsuit Over Medical Marijuana Use

AT&T said Friday (July 12) that records of calls and texts of nearly all its wireless customers and others using its network were stolen in a cybersecurity incident. The stolen records identify the telephone numbers with which the wireless numbers of AT&T or mobile virtual network operators (MVNOs) using AT&T’s wireless network interacted between May 1 and October 31, 2022, and on January 2, 2023, AT&T said in a Friday filing with the Securities and Exchange Commission.

AT&T Says Call, Text Records of ‘Nearly All’ Customers Stolen

Josue Torres

California Governor Gavin Newsom announced this week that in a significant move to alleviate the financial burden on residents, the state has cleared water and wastewater utility bills for 4 million Californians.

California forgives water utility bills for 4 million residents

NewsBreak

JPMorgan Sees Strong Card Spend Despite ‘Weakness’ From Lower-Income Consumers

JPMorgan’s latest results, released Friday (July 12), showed that consumers continued to use their cards in full force, for both debit and credit payments. And though...

JPMorgan Sees Strong Card Spend Despite ‘Weakness’ From Lower-Income Consumers

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