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Top business leaders in the U.S. meet Chinese President Xi Jinping in San Francisco, California on Nov. 15, 2023. Apple CEO Tim Cook, Tesla chief Elon Musk and Blackrock's Steve Schwarzman were among the guests Wednesday night at a gala reception and dinner in San Francisco for visiting Chinese President Xi Jinping. San Francisco Mayor London Breed also had a spot at the head table. According to the place cards, Cook was seated next to Chinese Minister of Commerce Wang Wentao. Event organizers said Musk attended the VIP reception, but did not stay for the dinner.

Persons: Xi Jinping, Tim Cook, Elon Musk, Steve Schwarzman, Xi's, Joe Biden, Biden, Xi, Marc Benioff, Stan Deal, Raj Subramaniam, Ryan McInerney, Ray Dalio, Albert Bourla, Janow, Larry Fink, Gina Raimondo, Nicholas Burns, Kurt Campbell, San Francisco Mayor London Breed, Cook, of Commerce Wang Wentao, Musk Organizations: Apple, Tesla, U.S ., China Business Council, National Committee, U.S, China Relations, United, Boeing, FedEx, Visa, Bridgewater Associates, Pfizer, Mastercard, BlackRock, Commerce, White House, San Francisco Mayor London, of Commerce Locations: U.S, San Francisco , California, San Francisco, United States, China, White House China

The San Francisco-based company said it earned $4.82 billion in the quarter, or $2.33 a share after one-time adjustments. That's compared to a profit of $4.09 billion, or $1.93 a share, in the same period a year ago. Visa reported a 9% rise in payments volume on its network and a 10% rise in the number of transactions on its network. Consumers spent $3.196 trillion on Visa's network globally last quarter, with the company posting a healthy 6% growth in spending in the U.S., the company's largest market. For the full year, Visa saw $12.338 trillion spent on its network compared to 2022.

Persons: that's, Ryan McInerney Organizations: Visa Inc, Visa, Mastercard, Consumers Locations: San Francisco, U.S

☆ A consumer spending slowdown is coming in the second half of 2023
▼ + stars: | 2023-08-03 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

Right now, Peterson says, the data suggests that consumers are spending across the economy and consumer sentiment has taken a turn for the better. "For most of this year, consumers were saying right now is okay, but we're worried about the future; we think a recession is coming." Peterson's first area of concern relates to the aggressive interest rate hikes made by the Federal Reserve over roughly the past year and a half, 11 rate hikes that have taken its benchmark rate above 5%. The "lagged effects of interest rate hikes will start hitting consumer spending," Peterson said. "Certainly, for the second half of the year, we're going to see slower consumer spending," Peterson said.

Persons: Dana Peterson, Peterson, Kate Rogers, cardholders, Ryan McInerney, Ramon Lagurta, there's, Jamie Dimon, we're, Jerome Powell Organizations: Conference Board, CNBC, CNBC's, PepsiCo, Federal Reserve, JPMorgan, U.S . Department of Education

Weeks later, Mr. Trump is the former President Trump. Instead, in a brief televised address shortly before 2:30 a.m., Mr. Trump furiously laid down his postelection lie. For weeks, Mr. Trump had been peppering him with tips of fraud that, upon investigation by federal authorities, proved baseless. The cavalry “is coming, Mr. President,” Kylie Kremer tweeted to Mr. Trump on Dec. 19. On Jan. 15, Mr. Trump acquiesced to an Oval Office meeting with Mr. Lindell, who arrived with two sets of documents.

Persons: Donald J, Trump, Joseph R, Biden, Justin Clark, Rudolph W, Giuliani, Clark, Weeks, Mitch McConnell, McConnell, Jared Kushner, McConnell’s, Biden’s, William P, Barr, Mr, Trump’s, Sidney Powell, Lin Wood, sleuths, MyPillow, Mike Lindell, Patrick Byrne, Stephen K, Bannon, Michael T, Flynn, platformed, Jared Taylor, Enrique Tarrio, Doug Mills, Eric, “ We’re, ”, Fox, Eric Trump, Newt Gingrich, Joe Biden’s, Kevin McCarthy, Laura Ingraham, Obama, Dennis Montgomery, Thomas McInerney, McInerney, John McCain, Bannon’s, “ it’s, Paul Gosar, Doug Ducey, Roy Blunt of, Roy Blunt, Anna Moneymaker, —, “, ” Mr, Mark Meadows, Josh Holmes, Kushner, — Mr, Mitt Romney, Lisa Murkowski, Lindsey Graham, Sean Hannity, Lindsey Graham of, Sean Hannity’s, — I’ve, Let’s, Graham, Pat A, Axios, Brendan Smialowski, “ Hannity, Thomas, Jenna Ellis, Matt Morgan, Al Gore, George W, Bush, Brooks, Stefan Passantino, Powell, Lynsey Weatherspoon, Gore, William H, Rehnquist, Giuliani —, Kris Kobach, Mark Martin, Lawrence Joseph, Kobach, Uncle Sam, Mr . Biden, Ken Paxton, Jeffrey M, Landry, Paxton, Kyle D, Hawkins, Jacquelyn Martin, Joseph, Richard L, Chris Carr, Carr, Mike Johnson of, Mike Johnson, McCarthy, Privately, Ted Cruz of, John Sauer, ’, ” James E, Nicolai, North, Wayne Stenehjem, Stenehjem, Wayne, Tasos Katopodis, MAGA, Marjorie Taylor Greene, Marsha Blackburn of, Ms, Blackburn, Amy Kremer, Ann Stone, Roger Stone, Amy Coney Barrett, Kremer’s, Kylie Jane Kremer, Jennifer Lawrence, Dustin Stockton, Lawrence, Stockton, I’ve, Lindell, they’d, Taylor, Greg Locke, Covid, Michael McKinney, Tucker Carlson, Carlson’s, “ Donald Trump, ” Ms, Meadows, Georgia runoffs, Byrne, Cipollone, he’d, Martin, Mike Pence, reconvene, ” Kylie Kremer, James Yeager, Kylie Kremer, Yeager’s, Lawrence whooped, John Kennedy, James Lyle, Josh Hawley, “ You’ve, Lyle, Couy Griffin, Kennedy, Pete Marovich, Kremer, Julie Jenkins Fancelli, Alex Jones, Caroline Wren, Kimberly Guilfoyle, Donald Trump Jr, Katrina Pierson, Brad Raffensperger, Jeffrey A, Rosen, Department’s, Jeffrey Clark, Scott Perry, Hawley, Cruz, Year’s, Tom Cotton of, Cotton, Cindy Chafian, Chafian, Jones, Stone, Locke, Jan, “ You’ll, Gosar, Griffin, Robert O’Brien, I’m, ’ ”, Kenny Holston, Donald Trump, ” Mark Walker, Ben Margot, Stefani Reynolds, Samuel Corum, Erin Schaff, David J, Ted Cruz, John Bazemore Organizations: Twitter, Dominion Systems, Trump, Biden, Dominion, New, New York City, The New York Times, Senate, New York, Republican Party, Capitol, White, Times, The Times, America News Network, Fox, America, Boys, New York Times, American, Air Force, Electoral College, Republicans, Joe Biden’s Democratic Party, Republican, Facebook, Democrats, Associated Press, “ Fox & Friends, White House, West Wing, “, Federal Bureau of Investigation, Veritas, Justice Department, Postal Service, York Daily, Agence France, Zignal Labs, Amistad, Thomas More Society, Mr, Electoral, Supreme, Lawyers, General Association, Associated, State, University of California, Republican House, Women, Tea Party, Trump -, Breitbart, of, Credit, SPAN, Tea Party Express, Republican National Committee, Internet, Army, Des Moines Register, Marine, General Services Administration, Swedish, Cowboys, Capitol ., Street Journal, Save, General Association ., Law Defense Fund, Freedom, Coalition, Proud Boys, Willard, Homeland Security, Party, Getty, Georgia Electoral College Locations: Detroit, Arizona, Georgia, New York, America, China, Trump, Grand Rapids, Mich, Philadelphia, Atlanta, Milwaukee, Santa Cruz ,, Arizona —, Russia, North Vietnam, United States, Roy Blunt of Missouri, Kentucky, Utah, Alaska, Lindsey Graham of South Carolina, Erie, Pa, Pennsylvania, Long, Bush, Florida, tightest, Kansas, North Carolina, Ken Paxton of Texas, Texas, State of Texas, Michigan, Wisconsin, Irvine, Mike Johnson of Louisiana, Ted Cruz of Texas, Missouri, Washington, Marsha Blackburn of Tennessee, Trump’s, Hudson, Stockton, Tennessee, Des Moines, Meadows, White, fistfights, Nashville, West Monroe, La, Louisiana, drumbeating, Tom Cotton of Arkansas, Delaware

☆ The SEC just paid out nearly $279 million to a tipster in its largest-ever award. Here's an inside look at the crazy world of whistleblower lawsuits.
▼ + stars: | 2023-05-08 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +11 min

The regulator announced a nearly $279 million award to a whistleblower on May 5, more than double the previous record of $114 million awarded in October 2020. When whistleblower information leads to settlements, tipsters can earn between 10 and 30 percent of the financial penalties paid by wrongdoers. When whistleblower information leads to settlements, the tipsters can earn a percentage of the financial penalties paid by wrongdoers. The tipster's law firm, Kirby McInerney, worked with state authorities on the investigation after "Tooley's" lawsuit was filed. This means tax-fraud whistleblowers will increasingly look for ways to bring their tips to New York law enforcement to be more involved in the investigation process.

☆ Visa's payments business helps profit exceed Wall Street estimates
▼ + stars: | 2023-04-25 | by ( Mehnaz Yasmin | ) www.reuters.com time to read: +2 min

April 25 (Reuters) - Visa Inc (V.N) reported a better-than-expected second-quarter profit on Tuesday and bet on sustained growth at its payments business, as consumers brace for a milder recession than was once feared. The San Francisco-based payments processor's shares, up 11% so far this year, rose another 2.4% in after-hours trading. "Consumer payments remains a massive opportunity for Visa," Chief Executive Officer Ryan McInerney said on a post-earnings call. Visa's results follow peer American Express Inc (AXP.N), which stockpiled $1.1 billion to cover potential defaults and spent more on promotions, missing Wall Street estimates on Thursday. On an adjusted basis, Visa earned $2.09 per share in the quarter ended March, exceeding analysts' estimates of $1.99, according to data from Refinitiv IBES.

☆ Visa Finance Chief Vasant Prabhu to Depart in September
▼ + stars: | 2023-02-16 | by ( Mark Maurer | ) www.wsj.com time to read: +2 min

Visa Inc. said its chief financial officer, Vasant Prabhu, is stepping down as the payments giant works to continue growing certain merchant services and making acquisitions. Mr. Prabhu will leave Visa on Sept. 30, the San Francisco-based company said Thursday. Mr. Prabhu, who also served as vice chair, will assist Visa with the search for and onboarding of his successor before stepping down from his role, the company said. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. Visa in January reported $7.94 billion in revenue for the quarter ended Dec. 31, up 12.4% from the prior-year period.

☆ The man behind Trump World’s myth of rigged voting machines
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +32 min

He publicly announced his purchase of Montgomery’s data in August at a gathering in Missouri of hundreds of his followers. “I own it,” Lindell said of Montgomery’s data, touting it as irrefutable proof Trump was cheated. On Nov. 9, far-right podcaster Joe Oltmann linked Montgomery’s Hammer and Scorecard claims to a parallel conspiracy theory: that widely used voting machines manufactured by Dominion Voting Systems were rigged to flip votes from Trump to Biden. Powell amended her complaint a few days later and dropped the expert’s declaration and the references to Montgomery’s claims. But the government said in a recent court filing that the order has nothing to do with election data.

☆ Visa CEO Alfred Kelly to Retire
▼ + stars: | 2022-11-18 | by ( Annamaria Andriotis | ) www.wsj.com time to read: 1 min

Ryan McInerney will become the next chief executive of Visa Inc. in February, the company said. Visa Inc. 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. During his tenure, Visa, which is the largest card network in the U.S., also further expanded its focus on other payment flows. These include helping money move over its network without the use of cards, including for transactions that involve governments and businesses.

☆ Watch CNBC's full interview with outgoing Visa CEO Al Kelly and incoming CEO Ryan McInerney
▼ + stars: | 2022-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with outgoing Visa CEO Al Kelly and incoming CEO Ryan McInerneyVisa CEO Al Kelly and incoming CEO Ryan McInerney join CNBC's 'Squawk on the Street' to discuss the company's transition plan and the health of the U.S. consumer. Kelly and McInerney also weigh in on the collapse of the crypto exchange FTX and what it means for the industry.

☆ Visa CEO Al Kelly set to retire, Ryan McInerney to take over Feb. 1
▼ + stars: | 2022-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVisa CEO Al Kelly set to retire, Ryan McInerney to take over Feb. 1Visa CEO Al Kelly and incoming CEO Ryan McInerney join CNBC's 'Squawk on the Street' to discuss the company's transition plan and the health of the U.S. consumer.

☆ Visa CEO Al Kelly: I hope the FTX disaster accelerates stablecoin regulation
▼ + stars: | 2022-11-18 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVisa CEO Al Kelly: I hope the FTX disaster accelerates stablecoin regulationVisa CEO Al Kelly and incoming CEO Ryan McInerney join CNBC's 'Squawk on the Street' to discuss the company's relationship with Coinbase following the collapse of FTX.

☆ Visa CEO Al Kelly to step down, Ryan McInerney to become CEO
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVisa CEO Al Kelly to step down, Ryan McInerney to become CEOVisa CEO Al Kelly will step down as CEO and take on the role as executive chairman of the board. Ryan McInerney, currently the president, will take over as CEO.

☆ Visa says Ryan McInerney will replace Al Kelly as its next CEO
▼ + stars: | 2022-11-17 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Visa Thursday named Ryan McInerney as its next chief executive, replacing Alfred Kelly who will step down from the role, effective Feb. 1, 2023. McInerney has been president at Visa since 2013, overseeing the firm's financial institutions, acquirers, merchants and partners. He previously worked as CEO for consumer banking at JPMorgan and held operations and risk chief roles at Chase's consumer and home lending businesses. He has served as the company's CEO since 2016 and was elected chairman of the board in 2019. He previously spent 23 years at American Express , where he served as president.

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