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Cleveland Fed: CEOs Expect Lower Inflation Over Next 12 Months
Business leaders in the United States are reportedly growing more optimistic about the likely trend of inflation. CEOs and other top executives said in July that they expect inflation to be 3.4% over the next 12 months, an expectation that is down from the 3.8% these leaders said in April that they anticipated, the Federal Reserve Bank of Cleveland said in a Monday (Aug. 12) press release.
Charter Communications Sees a Customer Drop Post-ACP, Seeks New Ways to Retain Clients
Charter Communications is facing challenges following the termination of the Affordable Connectivity Program (ACP), a federal initiative that provided subsidies for internet service to low-income households, reporting a decline of 149,000 residential internet customers in the second quarter of 2024, primarily attributed to the end of the ACP. About 100,000...
India’s Axis Bank and Visa Partner on ‘Ultra-Premium’ Credit Card
Axis Bank has partnered with Visa to launch an “ultra-premium” credit card in India. The new card, Primus, will be offered by invitation only and will cater to select, ultra-high-net-worth individuals — defined as those with a net worth of over $30 million — Axis Bank, one of the largest private sector banks in India, said in a Monday (Aug. 12) press release.
Tipping, Fees May Be Diners’ Tipping Point
Much has been made of tipflation, the upward march of the tips paid at the table and for delivery, which adds to the bill and subtracts from diners’ wallets. As PYMNTS Intelligence’s own reporting on the perceptions surrounding inflation shows, roughly three-quarters of consumers have been cognizant of the impact of price increases from their favorite eateries. The pinch is apparent with table service restaurants and quick-service outposts, and the read across is that delivery apps are denting consumers’ wallets, too.
SEC Alleges NovaTech Ltd Ran Fraudulent Crypto-Centered Scheme
The Securities and Exchange Commission (SEC) charged NovaTech Ltd, its operators, Cynthia and Eddy Petion, and the company’s top promoters with running a fraudulent scheme centered on crypto assets. The defendants are charged with running a multi-level marketing company that claimed it would invest victims’ funds in crypto assets...
CFTC: Cost Management Solutions Must Pay $100,000 for Failing to Register as Introducing Broker
The Commodity Futures Trading Commission (CFTC) said Monday (Aug. 12) that it required Cost Management Solutions (CMS) to pay a $100,000 civil monetary penalty after finding that the company failed to register as an introducing broker (IB). The regulator issued an order that both filed and settled the charges against...
AI Explained: Chain-of-Thought AI Shows Its Decision-Making
Chain-of-thought AI, a new approach aimed at making artificial intelligence systems more transparent and interpretable, has gained attention as a potential solution to the longstanding “black box” problem in machine learning.. Chain-of-thought (CoT)...
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