CFPB says buy now, pay later firms must comply with U.S. credit card laws
The Consumer Financial Protection Bureau declared on Wednesday that customers of the burgeoning buy now, pay later industry have the same federal protections as users of credit cards. The agency unveiled what it called an “interpretive rule” that deemed BNPL lenders essentially the same as traditional credit card providers under the decades-old Truth in Lending Act. That […]
Morning Bid: On alert for yen intervention, US inflation
A look at the day ahead in European and global markets from Wayne Cole. It’s been a mildly risk-off start to the week with most share indices in the red, the dollar up and Treasury yields down a touch, though there was no obvious catalyst for the moves. The dollar got as far as 159.94 […]
China’s Kaisa gets seven-week stay on liquidation petition; adjournment likely its last
A Hong Kong court gave Chinese property developer Kaisa Group a seven-week respite on Monday to finalise a debt restructuring plan, adjourning a hearing on a liquidation petition for what it said could be the last time. The High Court adjourned the hearing to Aug. 12 after the petitioner representing a key group of bondholders […]
GameStop surges after fetching $933 mln from stock sale
GameStop (GME.N), opens new tab made nearly $933.4 million by selling 45 million shares, the struggling videogame retailer said on Friday, sending its shares up more than 12% after the bell. The company largely relies on brick-and-mortar stores and has been grappling with customers turning to e-commerce firms for buying video games and collectibles. It had disclosed […]