The Reserve Bank of India’s (RBI’s) recent decision to allow credit cards for payments through the Unified Payments Interface (UPI) is likely to attract a merchant discount rate (MDR), said a top payment industry source. For smaller merchants, a subsidy for MDR could be provided. “With credit card-UPI linkage, UPI will not only be a payment instrument but also a […]

For the first time in the nation’s history, median rents crossed $2,000. According to a report from real estate listing site Redfin, the median rent on all apartments listed nationwide rose 15% nationwide compared to a year ago. For those millions of Americans who do not have the stability afforded to them through homeownership, rising rent, along with inflation and […]

Asian stocks nosedived on Monday as hotter-than-expected U.S. inflation data coupled with news that China’s capital Beijing is facing an “explosive” COVID-19 outbreak connected to a bar stoked concerns about global growth. China’s Shanghai Composite index dropped 0.9 percent to 3,255.55 as Beijing and Shanghai resumed mass testing for COVID-19 and a planned reopening of schools in the capital was […]

For the first time in the nation’s history, median rents in the United States crossed $2,000. According to a report from real estate listing site Redfin, the median rent on all apartments listed nationwide rose 15% nationwide compared to a year ago. For those millions of Americans who do not have the stability afforded to them through homeownership, rising rent, […]

European stocks are set to follow Asian peers lower on Monday as a higher-than-expected U.S. inflation print and troubling COVID-related updates from China triggered a bout of risk aversion. The Japanese yen hit its lowest level against the dollar since 1998 and U.S. 10-year treasury yields rose above 3 percent for the first time in three years amid expectations of […]

West Texas Intermediate (WTI) crude oil was trading down more than 5% in the late morning Friday and was on track for its first weekly loss in eight weeks. Brent crude traded down more than 4.5% and was set to lose more than 5% for the first time in five weeks. The twin drop is a reaction to the Federal […]

Batesville, Arkensas-based Intimidator is recalling about 16,000 units of Intimidator and Mahindra Utility Vehicles or UTVs citing crash risk, the U.S. Consumer Product Safety Commission said. The recall involves Intimidator and Mahindra branded models 750, 800, 1000, TGB, and GC1K UTVs, which were sold in a variety of colors. “Intimidator” or “Mahindra” is displayed on the front grill and the […]

EXCLUSIVE: Derek Tsang, who directed the Oscar-nominated Chinese drama Better Days, has signed with Anonymous Content for representation. The Hong Kong filmmaker’s 2019 feature centered on a bullied teenage girl who formed an unlikely friendship with a mysterious young man. Zhou Dongyu and Jackson Yee starred. The film grossed over $14M on its opening day in China and nearly $240M during its theatrical […]

New York (CNN Business)Decades-high inflation is changing US consumers’ grocery habits. Kroger, the nation’s largest grocery store chain, said Thursday that budget-constrained shoppers were buying fewer items in stores, favoring Kroger’s cheaper store brands instead of name brands, and switching from beef to pork. “Rising inflation has consumers rethinking their shopping and eating habits,” Kroger (KR) CEO Rodney McMullen said […]

Schneider Electric USA Inc. is recalling about 1.6 million units of Electrical Panels for potential risk of thermal burn and fire hazards, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. These included about 289,000 units sold in Canada. The company said the load center can overheat to pose thermal burn and fire hazards. It has received one […]