Visa rescinds rule, Justice backs down

July 6th, 2008

Visa is rescinding a rule that requires merchants to treat Visa-branded PIN-debit cards differently than signature debit cards.
The rule is being rescinded as the result of a Department of Justice antitrust investigation into whether the rule hurt competition in the debit card industry by restricting certain PIN debit transactions payday loans.
The Justice Department has […]

Filed under: technology by Wolf
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Yahoo tries to fend off Icahn assault

July 2nd, 2008

Yahoo Inc. is starting to meet with its major shareholders in hopes of fending off activist investor Carl Icahn.
Icahn is trying to overthrow Yahoo’s board in retaliation for rejecting Microsoft’s $47.5 billion takeover bid. Now the company is making its case for keeping its current board and management team.
Yahoo filed a 32-page presentation Monday […]

Filed under: online by Wolf
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Fortis bank to scrap dividends

July 1st, 2008

Dutch bank Fortis will issue $2.35 billion in new shares and scrap cash dividends for the year to shore up its balance sheet.
Fortis was one of three European banks that joined in a $110 billion buyout of rival ABN Amro Holding last year just before the mortgage market in the U.S. blew up, sending […]

Filed under: legal by Wolf
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