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☆ The Cure Says Ticketmaster Will Refund Fans Who Paid ‘Unduly High’ Fees
▼ + stars: | 2023-03-17 | by ( Alyssa Lukpat | ) www.wsj.com time to read: 1 min

Ticketmaster is refunding fans of The Cure after some of them paid more in service fees than they did for a ticket for the English rock band’s upcoming tour, the band said Friday. The Cure, a band formed in the 1970s, criticized Ticketmaster’s pricing system months after the company drew scrutiny for botching sales for Taylor Swift concerts. The band said Ticketmaster agreed it would refund $10 to fans who bought the cheapest seats and $5 to the rest of the fans.

☆ Democratic Sen. Cortez Masto urges FEC to require campaigns to send illegal contributions to Treasury
▼ + stars: | 2023-02-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

Sen. Catherine Cortez Masto, D-Nev., center, her husband Paul, and Sen. Mazie Hirono, D-Hawaii, are seen in the U.S. Capitol on Wednesday, November 16, 2022. Sen. Catherine Cortez Masto, D-Nev., is calling on the Federal Election Commission to require campaigns to send illegal campaign contributions to the U.S. Treasury instead of refunding the money to the original donor. Cortez Masto's call for the new FEC rule comes after numerous foreign donors and companies have been caught making illegal campaign donations. Still, as Cortez Masto points out, the fine could have limited impact on Zekelman as there is expected to be a full refund of the illegal contribution. Though Cortez Masto does not mention cryptocurrency exchange FTX or its co-founder Sam Bankman-Fried in her letter, his contributions to campaigns could come under the same scrutiny by the FEC if it enacted such a rule.

☆ A Porsche dealership in China accidentally priced a car at an 88% discount and hundreds of people rushed to put deposits down
▼ + stars: | 2023-02-02 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +2 min

A Chinese dealership briefly listed a Porsche Panamera for a mere $18,000. A Panamera costs at least $92,000 in the US, and has a starting price of $148,000 in China. Porsche reported sales of 310,000 vehicles in 2022, 3% more than in 2021. A Porsche dealership in their city listed a Panamera sedan, which starts at $92,000 in the US, for a mere 124,000 yuan, or $18,000, on their website, according to Bloomberg News. That's roughly one-eighth of the 998,000 yuan, or $148,000 dollars, the starting price listed on Porsche's China website.

☆ Morning Bid: Fed fillip, double trouble, triple A
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +4 min

It looks less like fighting the Fed, than a mild disagreement. Powell didn't endorse that market view - which now has just one more quarter point rise to a terminal rate under 4.9% by May and 40 basis points of cuts from there by December. But he seemed ambivalent about investors' more optimistic take on disinflation and indicated the central bank was increasingly keeping its options open about a 'couple of hikes'. Meta's stock boomed as its earnings update showed stricter cost controls and a new $40 billion share buyback. With the risk around the BoE's split monetary policy council for a smaller quarter point move, it was the euro that looks set to emerge the winner of the three big central bank events.

☆ Fewer Treasury bills and liquidity questions – what to expect from the U.S. refunding
▼ + stars: | 2023-01-26 | by ( Karen Brettell | ) www.reuters.com time to read: +4 min

Jan 26 (Reuters) - The U.S. Treasury Department next week is likely to announce that it will offer fewer Treasury bills in the second quarter, after hitting its statutory borrowing limit. Next week, the Treasury is likely to say that it will reduce its issuance of Treasury bills, debt that matures in one year or less, and run down its cash balance to buy more time. That is because the U.S. government wants to increase bills as a percentage of overall debt to meet its long-term goals. BofA’s Swiber said that Treasury buybacks, which the Treasury queried dealers about in a previous survey, are a better solution to boost liquidity during times of market stress. These “allow Treasury to more directly manage Treasury liquidity, to more directly manage the outstanding supply of securities and they can effectively buy back things that are cheap on the curve and help support liquidity in the more liquid parts of the curve as well,” she said.

But if you’ve booked your Southwest flight with a credit card that offers travel insurance, you may have better chances of getting your money back. Here’s what Southwest may agree to cover — and how your credit card might help if the airline falls short of your expectations. How to use credit card travel insuranceTo use travel protections available with your credit card, make sure you purchase your airplane tickets with that card. You can also call your credit card issuer and talk about your specific situation to ensure that coverage will apply. If your credit card doesn’t offer travel insurance but you travel often, it might make sense to look into cards with this benefit for your future trips.

"There'll certainly be an impact to the fourth quarter," Chief Commercial Officer Ryan Green told reporters on a call on Thursday. While other U.S. airlines got back to their feet relatively quickly, Dallas-based Southwest is still limping back to normalcy. Employee unions say they have repeatedly warned Southwest management that the airline's technology systems badly needed upgrades. Flight attendants have been complaining about technological failures at the airline for years, according to Lyn Montgomery, president of the Southwest Airlines Flight Attendants Union, a local 556 of the Transport Workers Union. The comments echoed those of the Southwest Airlines Pilots Association, which said leadership had failed to adapt operations to address repeated systems failures, despite years of calls for improvements by the union.

☆ Southwest Airlines operations back to normal after being crippled by storm
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 30 (Reuters) - Southwest Airlines (LUV.N) was up and running on a normal schedule on Friday after a massive winter storm crippled operations this week and exposed problems at the low-cost carrier. "Let me just be straightforward here: the storm had an impact but we had impacts beyond the storm that obviously impacted Southwest very differently," Jordan said in an interview with ABC's "Good Morning America." Map shows U.S. airports where an average of at least 25% of flights by Southwest Airlines were cancelled from Dec. 19 to 28. Southwest Airlines has promised to reimburse passengers for expenses such as hotels and car rentals in addition to refunding tickets and said there would be a still-undetermined hit to its earnings. The Southwest chief executive said he had a "great conversation" with Buttigieg and their goals were aligned.

☆ A TikTok creator’s homemade pickled products have sparked online conversation surrounding food safety
▼ + stars: | 2022-12-29 | by ( Brahmjot Kaur | ) www.nbcnews.com time to read: +8 min

A TikTok creator’s recent apology after people accused her of improperly packaging her homemade pickled products before selling them online has sparked discourse surrounding influencers and whether they should be allowed to promote and sell homemade food items on the app. Britanny Saunier, executive director of the nonprofit organization Partnership for Food Safety EducationSocial media creates "enthusiasm" around homemade products, said Britanny Saunier, the executive director of the nonprofit organization Partnership for Food Safety Education. The backlash toward PickleMeEverything’s products comes several months after another viral product raised eyebrows over similar food safety fears. He said he’s concerned about the growing number of TikTokers who don’t know or use food safety while promoting food products. Food Science Babe pointed out in her video that several popular creators had promoted PickleMeEverything’s products.

☆ Hulu customer claims an employee violated her privacy by using personal information to contact her after a virtual service chat
▼ + stars: | 2022-11-30 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

TikToker Aryan Strauss claims a Hulu employee contacted her from his personal email after a customer service chat. Strauss said she received an email from an employee named "John" after he helped her get a refund for a canceled Hulu subscription. In a series of videos, Aryan Strauss said a Hulu employee emailed her after she spoke with him about refunding her the money she was charged for canceling her subscription too late. The employee Strauss identified as "Jeff" promised John would undergo extra training to prevent another incident. In a Tuesday update video, Strauss said she still has yet to hear back from Hulu on the matter.

☆ JPMorgan, Other Banks in Talks to Reimburse Scammed Zelle Customers
▼ + stars: | 2022-11-28 | by ( David Benoit | Annamaria Andriotis | ) www.wsj.com time to read: 1 min

Banks that own the Zelle payment network want to boost security as scams dupe customers into transferring money. Some of America’s biggest banks are devising a plan to compensate customers who fall victim to scams on their Zelle payment network. JPMorgan Chase & Co., Wells Fargo & Co. and Bank of America Corp. are among the banks in advanced discussions to create a playbook for refunding customers and each other for illegitimate transfers, according to people familiar with the matter. The idea is to boost security and consumer trust in Zelle, the peer-to-peer payment system jointly owned by a consortium of banks, the people said.

☆ Denmark's dividend tax lawsuit heads for UK Supreme Court
▼ + stars: | 2022-11-21 | by ( Kirstin Ridley | ) www.reuters.com time to read: +2 min

LONDON, Nov 21 (Reuters) - The Danish tax authority's attempt to pursue almost 80 defendants in London over alleged tax fraud, including Dubai-based hedge fund manager Sanjay Shah's Solo Capital Partners, is heading for the UK Supreme Court, lawyers said on Monday. The number of defendants has been whittled down to 79, lawyers for SKAT told a London case management hearing on Monday. London's High Court last year derailed the case,ruling that the Danish state could not use English courts to enforce its tax laws. Chris Waters, a managing partner at law firm Meaby & Co Solicitors, who is representing Shah and his companies, said it was a "significant step" that the UK Supreme Court would now also hear the case. A High Court judge will decide next week whether the complex case, or parts of it, will be delayed ahead of a Supreme Court ruling, lawyers said on the sidelines of the London hearing.

☆ China Oct new home prices fall at fastest annual pace in 7 years
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

On an annual basis, new home prices slumped 1.6%, the fastest pace since August 2015, worsening from the 1.5% year-on-year fall in September and marking the sixth month of contraction. New home prices declined 0.3% month-on-month, easing 0.2% in September, according to Reuters calculations based on National Bureau of Statistics (NBS) data. The property sector has struggled with defaults and stalled projects since authorities started to clamp down on excessive leverage in mid-2020, hitting market confidence and weighing on economic activity. Data on Tuesday also pointed to further weakness in the cash-strapped sector, showing real estate investment fell at its fastest pace in 32 months in October. A notice to financial institutions from the People's Bank of China (PBOC) and the China Banking and Insurance Regulatory Commission (CBIRC) outlined 16 steps to support the industry, including loan repayment extensions, sources said on Sunday.

☆ Regulator Accuses Airlines of ‘Extreme’ Delays Refunding Fliers, Fines Six Carriers
▼ + stars: | 2022-11-15 | by ( Alison Sider | ) www.wsj.com time to read: 1 min

Frontier Airlines is one of six commercial airlines the U.S. Department of Transportation has fined citing delays in refunds owed to passengers. The U.S. Department of Transportation is levying penalties against six carriers that it says were prone to “extreme delays” paying refunds they owed to passengers throughout the pandemic. Five of the carriers which were fined are foreign airlines. Denver, Colorado-based budget carrier Frontier Airlines was ordered to pay $2.2 million—the largest penalty—and was required to repay $222 million, according to the Transportation Department.

☆ Startups, Investors Bet on Remote Work Future
▼ + stars: | 2022-11-03 | by ( Angus Loten | ) www.wsj.com time to read: +6 min

Even as more employers signal an end to remote work, tech startups and their investors are betting that it is here to stay, offering a range of digital tools designed to support a permanent workforce outside of the office. “Investors are super-pumped on remote,” Mr. Salam said. “Remote work is a durable phenomenon,” said Ravi Gupta, a partner at Sequoia who led the firm’s investment in Remote. Mr. Riggs said Frameable currently has hundreds of commercial customers, who rent its software with rates varying by the number of users. “I may be a bit biased, but I absolutely believe remote work is here to stay,” said Remote’s Mr. van der Voort.

☆ U.S. Treasury says it has not decided yet on bond buyback plans
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

The Treasury said it would continue to meet with a variety of market participants to assess the costs and benefits of buybacks, and that it expects to share findings as part of future quarterly refunding announcements. Liquidity in the world's largest bond market has deteriorated this year, partly because of rising volatility as the Federal Reserve rapidly raises interest rates to bring down inflation. The Treasury last month, as part of its regular survey of dealers before each of its quarterly refunding announcements, asked dealers about the specifics of how buybacks could work. On Wednesday, the Treasury said it was studying potential buybacks and that it would provide ample notice on any decision. Compiled by the Global Finance & Markets Breaking News team; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Tingshu WangSummary Sept new home prices fall 0.2% m/m, down for second monthNew home prices down 1.5% y/y, fastest pace since Aug 201554 cities out of 70 report price declinesBEIJING, Oct 24 (Reuters) - China's September new home prices fell for the second straight month as mortgage boycotts, a heightened debt crisis and COVID-19 curbs weighed on homebuyers' sentiment. China's property sector has been beset by multiple headwinds after regulators clamped down on excessive borrowing since mid-2020. In monthly terms, new home prices in tier-two cities fell 0.2% and declined 0.4% in tier-three cities. Property investment fell 12.1% from a year earlier, slightly narrowing from a 13.8% fall in August. "There is little room to give more help to real estate property developers as doing so will risk the credibility of government reform (for property developers, that means the deleveraging reform)," said Iris Pang, chief economist for Greater China at ING.

☆ China new home prices fall for second month in September
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Tingshu WangSummary Sept new home prices fall 0.2% m/m, down for second monthNew home prices down 1.5% y/y, fastest pace since Aug 201554 cities out of 70 report price declinesBEIJING, Oct 24 (Reuters) - China's new home prices fell for the second straight month in September, as its property sector grappled with a mortgage boycott, a heightened debt crisis and COVID-19 restrictions that dimmed the economic outlook. China's property sector has been beset by multiple headwinds after regulators clamped down on excessive borrowing since mid-2020. Property investment fell 12.1% from a year earlier, slightly narrowing from a 13.8% fall in August. China reiterated its "housing is for living, but not for speculation" in the full work report of the Communist Party Congress. Analysts from Nomura said in a note that a comprehensive solution to the property sector might not be introduced until after March 2023, when Beijing's political reshuffle is fully completed.

☆ China new home prices fall 0.2% m/m in September
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +1 min

Residential buildings are pictured near a construction site in Beijing, China April 14, 2022. Picture taken April 14, 2022. New home prices in September fell 0.2% month-on-month from a 0.3% drop in August, according to Reuters calculations based on National Bureau of Statistics (NBS) data released on Monday. New home prices in September declined 1.5% year-on-year, compared with a 1.3% decline in August. China has rolled out a flurry of policies to revive the embattled sector, including relaxing on mortgage rates and refunding individual income tax for some home buyers.

☆ More than 100 customers of N26, one of Europe's biggest online banks, say their accounts were suddenly closed — and some haven't gotten their money back
▼ + stars: | 2022-10-23 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +8 min

More than 100 N26 bank customers, including a Ukrainian refugee, say their accounts were suddenly terminated in April. The online bank confirmed accounts were "wrongly closed" but said it is working to roll out a technical solution. Customers shared their distress online after N26 shut their accounts on April 14 as part of anti-fraud measures that went wrong. The N26 customers that Insider spoke to were spread across Germany, Spain, Italy, France, Ireland, Latvia, and Romania. Online banks are under pressure to make judgment calls and have to tread a fine line," Prince said.

Oct 14 (Reuters) - The U.S. Treasury Department is asking primary dealers of U.S. Treasuries whether the government should buy back some of its bonds to improve liquidity in the $24 trillion market. The Treasury is also querying whether reduced volatility in the issuance of Treasury bills as a result of buybacks made for cash and maturity management purposes could be a "meaningful benefit for Treasury or investors." But it let that exclusion expire and big banks had to resume holding an extra layer of loss-absorbing capital against Treasuries and central bank deposits. The Treasury Borrowing Advisory Committee, a group of banks and investors that advise the government on its funding, has said that Treasury buybacks could enhance market liquidity and dampen swings in Treasury bill issuance and cash balances. The Treasury is posing the questions as part of its regular survey of dealers before each of its quarterly refunding announcements.

☆ US Treasury asks major banks if it should buy back U.S. government bonds
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +2 min

Oct 14 (Reuters) - The U.S. Treasury Department is asking primary dealers of U.S. Treasuries whether the government should buy back some U.S. government bonds to improve liquidity in the $24 trillion market. Investors are worried about rising volatility in bonds as the Federal Reserve rapidly raises interest rates to bring down inflation. The Treasury is also querying whether reduced volatility in the issuance of Treasury bills as a result of buybacks made for cash and maturity management purposes could be a "meaningful benefit for Treasury or investors." The Treasury Borrowing Advisory Committee (TBAC), a group of banks and investors that advise the government on its funding, has said that Treasury buybacks could enhance market liquidity and dampen swings in Treasury bill issuance and cash balances. The Treasury is posing the questions as part of its regular survey of dealers before each of its quarterly refunding announcements.

You can refund a payment on the Cash App in about 10 seconds with five taps on your screen. Money refunded on the Cash App will be returned to the same source it came from, be it a bank account, credit card, or a Cash App balance. Peer-to-peer Cash App refunds are instant, although refunds from merchants may take up to 10 days. As easy as it is to send someone money on the Cash App, it's just as easy to refund that cash. Hit "OK."For information on how to request a refund, read our article, "How to receive money from Cash App in 2 different ways."

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