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U.S. banks dusted off their recession-ready playbooks at the end of 2022. Regional lenders and banks with big credit-card businesses continued to profit from borrowers who ran up credit balances at higher interest rates in the fourth quarter. But many tightened their lending standards and set aside more money to cover potential loan losses, signs that they don’t expect the good times to last.  Capital One Financial Corp. COF -0.68%…

Sachin Mehra, chief financial officer of Mastercard Inc., was named an independent director at Salesforce Inc. Photo: Tiffany Hagler-Geard/Bloomberg News…

Big banks are teaming up to launch a digital wallet that people can use to shop online. Wells Fargo WFC -1.29% & Co., Bank of America Corp. BAC 0.73% , JPMorgan Chase JPM 0.86% & Co. and four other banks are working on a new product that will allow shoppers to pay at merchants’ online checkout with a wallet that will be…

Microsoft Corp. , Tesla Inc. and Johnson & Johnson headline the first busy earnings week of 2023 as investors search for insight into the global economy in the midst of growing concern over a possible recession. They are among the more than 90 S&P 500 components that are slated to report earnings in the coming week, according to FactSet. …

SINGAPORE—Chinese internet giant Alibaba Group Holding Ltd. BABA 3.41% started allowing shoppers in Europe to pay for purchases on its international e-commerce platform only after receiving their merchandise, in an attempt to boost global sales as growth at home slows.  On Monday, a fintech company called Splitit Payments Ltd. SPT 22.22% said it would join with Ant Group Co.’s Alipay…

While some Americans are still recovering from holiday festivities, many others may have lingering effects of spending regrets. Overall U.S. retail sales increased 7.6% year-over-year between Nov. 1 and Dec. 24, according to the latest Mastercard SpendingPulse survey.For many consumers, the amount of debt they took on to pay for holiday purchases grew as well. A new LendingTree study found 35% of Americans amassed holiday debt in 2022. The average amount was $1,549, the highest level since 2015 when the survey was first…

Americans say they will rein in spending this Black Friday, but to avoid busting their budgets, shoppers should do even more planning than usual, experts suggest.With high inflation and economic uncertainty dampening the usual holiday cheer, shoppers say they want to take a more frugal approach to gift giving, according to The Conference Board, a nonprofit research organization.  The pomp of Black Friday, along with the deluge of online deals and discounts, may derail these plans. The National Retail Federation expects…

Visa Inc. V 0.40% said on Thursday that Alfred Kelly will step aside as chief executive, effective February, and become executive chairman of its board. Ryan McInerney, the card giant’s longtime president, will become the next chief executive. Mr. Kelly’s time atop the company, which began in 2016, overlapped with a continuing shift to digital payments as more consumers pay…

Inflation is weighing heavily on the holidays this year.Roughly half of shoppers will buy fewer things due to higher prices, and more than one-third said they will rely on coupons to cut down on the cost, according to a recent survey of more than 1,000 adults by RetailMeNot.Though the study found many consumers are also eager to get an early start on seasonal shopping, that surge is largely driven by concerns about affordability and money-saving strategies, other reports show."Inflation is, by far, the biggest issue for…

Image Source : PIXABAY UPI Payment Nearly 76 per cent of Indians now prefer using UPI (unified payments interface) during online checkouts while more millennials (84 per cent) are now using UPI when shopping online, a report showed on Tuesday. As the physical, digital and virtual worlds are converging, Indians are willing to explore and purchase within apps/browsers as…