DIRS.INFO The most relevant business & tech news

☆ Shopping hauls are so back
▼ + stars: | 2024-08-17 | by ( Erika Tulfo | ) edition.cnn.com time to read: +8 min

CNN —Aria Liu, 17, regularly posts shopping haul videos to her YouTube channel, which has 300,000 subscribers. “I don’t know what it is, but when I’m shopping online, money doesn’t feel real.”Liu’s not alone. Shopping hauls have existed for years, if not decades. Aria Liu says that the shopping haul videos she posts on her YouTube channel, “urmomsushi,” are the ones that garner the most views. There’s also a growing body of research that is questioning whether social media can be dangerous, especially for younger users.

Persons: Aria Liu, ”, “, ” Liu’s, Liu It’s, Philippa Ward, Katie Fang, TikTok, Fang, hashtags, Alistair Berg, Matthias Lehner, ” Lehner, Katrina Caspelich, There’s, there’s, ” Caspelich Organizations: CNN, YouTube, Consumer, US Commerce Department, Consumer Financial, University of Gloucestershire, Research, Federal Reserve Bank of New, Centre for Retail Research, Lund University Locations: Federal Reserve Bank of New York, TikTok, Lund , Sweden, “

☆ Reserve Bank of New Zealand cuts cash rate by 25 basis points, lowers rate forecasts
▼ + stars: | 2024-08-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A security guard stands in the main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand, July 3, 2017. The Reserve Bank of New Zealand lowered its cash rate by 25 basis points to 5.25% on Wednesday. The move surprised economists polled by Reuters, which were expecting the central bank to hold rates unchanged at 5.5%. This is the first time the central bank has cut the official cash rate since March 2020. In its release, the RBNZ noted that consumer price inflation is returning to its target range of 1% to 3%.

Organizations: Reserve Bank of New, Reuters Locations: Reserve Bank of New Zealand, Wellington , New Zealand, New Zealand

☆ Dollar droops after benign inflation data; kiwi firm before RBNZ decision
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: +3 min

The dollar remained on the back foot on Wednesday after tumbling versus major peers overnight as a benign reading for U.S. producer prices reinforced bets on Federal Reserve interest rate cuts this year. Risk-sensitive currencies stayed strong after the unexpected softening in inflation buoyed equities, even with crucial U.S. consumer price index figures still looming later on Wednesday. New Zealand's dollar hovered near a four-week high ahead of a Reserve Bank of New Zealand policy decision, with markets split over the potential for a rate cut. The dollar was stable at 147.06 yen as it continued to consolidate around the 147 level this week. The kiwi edged up 0.07% to $0.6081, close to Tuesday's high of $0.60815, a level last seen on July 18.

Persons: CME's, Carol Kong, Sterling, Tony Sycamore Organizations: Australian, New, Reserve Bank of New, Traders, Federal, Commonwealth Bank of Australia, U.S, CPI, CBA, IG Locations: Reserve Bank of New Zealand

☆ Why you shouldn't worry about the job market and a recession just yet
▼ + stars: | 2024-08-14 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Read previewThe labor market is trending in the wrong direction, but it might not be time to sound the alarm just yet. The unemployment rate has risen for four consecutive months and at 4.3%, it's the highest it's been in nearly three years. However, there are some reasons it might be too soon to freak out about the labor market. AdvertisementSatyam Panday, chief US economist for S&P Global Ratings, said in a note published on August 6 that the slowing labor market appears to suggest a "normalization" of a previously red-hot labor market, rather than an "economy that's about to slip into a recession." The labor market might get worseTo be sure, there are plenty of reasons to remain concerned about the state of the labor market.

Persons: —, there's, it's, Goldman Sachs, David Mericle, Manuel Abecasis, they've, It's, Goldman Sachs that's, Satyam Panday, Michael Gapen, JP Morgan, Claudia Sahm Organizations: Service, Federal Reserve, Business, Bureau of Labor Statistics, Labor Department, Federal, Satyam, Bank of America, Federal Reserve Bank of San Francisco, New Century Advisors Locations: US

☆ Asia-Pacific markets continue winning run as U.S. producer prices rises less than expected
▼ + stars: | 2024-08-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets have extended gains on Wednesday after producer prices in the U.S. came in lower than expected for July. In Japan, business sentiment at manufacturers turned slightly less confident in August compared with the month before, according to the Reuters Tankan survey. The Tankan survey — which tracks the Bank of Japan's quarterly survey of the same name — showed that the sentiment index for manufacturers slipped to +10 in August, while the non manufacturers index fell to +24. The Reserve Bank of New Zealand is also due to announce its latest decision on its official cash rate on Wednesday. Economist expectations are varied, with a Reuters poll forecasting the central bank will maintain rates at 5.5%.

Persons: Dow, — Organizations: Dow Jones, Reuters, Bank of Japan, Reserve Bank of New Locations: Ginza, Tokyo, Japan, Asia, Pacific, U.S, South Korea, China, Reserve Bank of New Zealand

☆ Australia's second-quarter wages rise at slowest pace in a year
▼ + stars: | 2024-08-13 | by ( ) www.cnbc.com time to read: +2 min

Australian wages rose at their slowest pace in a year in the June quarter, falling short of expectations, while softer gains in the private sector suggest the labor market was easing. "The RBA will be somewhat relieved to see wage pressures subsiding," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. "However, absent an improvement in productivity growth, the current pace of wage growth is still a little too strong for inflation to return to target quickly." The overall increase in annual wages was still just enough to take it above inflation of 3.6%, a welcome return to real pay growth after years of negative outcomes. Incomes will get an added boost from a major round of tax cuts that started in July.

Persons: Sean Langcake Organizations: Australian Bureau, Statistics, Oxford Economics Australia, Reserve Bank of Australia

☆ Yen slips, markets brace for U.S. inflation data
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +3 min

Last week ended calmer, with Thursday's stronger-than-expected U.S. jobs data leading markets to pare bets for Federal Reserve interest rate cuts this year. "It's more a case of market squaring up a little bit ahead of the U.S. inflation data," said Christopher Wong, currency strategist at OCBC Bank in Singapore. The dollar was trading at 146.87 yen , up 0.2% from late U.S. levels on Friday. The Aussie was barely up at $0.6577 on Monday, while the New Zealand dollar stayed below last week's three-week high of $0.6035. Implied volatility on the yen, measured in yen options, has also subsided.

Persons: Bank of Japan's hawkishness, Jackson, Christopher Wong, J.P, Morgan Organizations: Bank of Japan's, Federal Reserve, Nvidia, OCBC Bank, New Zealand, Reserve Bank of New, Bank, Japan, U.S . Commodity Futures Trading Commission Locations: U.S, Singapore, Reserve Bank of New Zealand

☆ Average consumer now carries $6,329 in credit card debt. 'People are stretched,' expert says.
▼ + stars: | 2024-08-08 | by ( Jessica Dickler | Jessica Dickler Is A Personal Finance Writer For Cnbc. | ) www.nbcnews.com time to read: +2 min

Credit card debt is on the rise. Over the last year, roughly 9.1% of credit card balances transitioned into delinquency, the New York Fed reported. The average credit card charges more than 20% — near an all-time high. “With credit card balances at an all-time high and the average credit card rate hovering near record territory, it’s more important than ever to pay down this debt as soon as possible,” Rossman said. If you’re carrying a balance, try consolidating and paying off high-interest credit cards with a lower interest personal loan or switch to an interest-free balance transfer credit card, he advised.

Persons: TransUnion, ”, Michele Raneri, “, Ted Rossman, Bankrate, ” Raneri, ” Rossman Organizations: Federal Reserve Bank of New, New York Fed, Consumers Locations: Federal Reserve Bank of New York, TransUnion

On Thursday, investors in Asia will assess trade data from Japan and interest rate decision from the Reserve Bank of India. Global equities and currencies plunged earlier this week after the Bank of Japan hiked interest rates to their highest levels since 2008, and the U.S. released weaker-than-expected employment numbers. Asia-Pacific markets were mostly down in choppy trading on Thursday after U.S. stock benchmarks fell overnight, while investors assessed trade data from Japan and awaited India's rate decision. "Assuming that the price stability target will be achieved in the second half of fiscal 2025, the Bank should raise the policy interest rate to the level of the neutral interest rate toward that time," the summary read. Japanese technology investor SoftBank Group said in a statement on Wednesday that it would buy back up to 500 billion yen ($3.4 billion) of its shares as part of its efforts to boost shareholder returns.

Persons: Shinichi Uchida, Lasertec, Korea's Kospi Organizations: Reuters, The Reserve Bank of, Reserve Bank of India, Global, Bank of Japan, Dow Jones, Nasdaq, Nvidia, Nikkei, Bank, SoftBank, Semiconductor, Isuzu Motors, China's CSI, Cathay, Hong Kong's, Airbus Locations: The Reserve Bank of India, Asia, Japan, U.S, Pacific, Hong, Cathay Pacific

Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. The Bank of Japan raising rates to their highest level since 2008 on July 30 caused the yen to strengthen to a seven-month high, pressurizing stocks. Markets globally were also spooked by fears of a U.S. recession stoked by a weaker-than-expected jobs report. Real wages in Japan also grew 1.1% in June compared with a year ago, the first time that wages have risen in 26 months. Strong wage growth offers more room for the Bank of Japan to tighten its monetary policy.

Persons: Topix, Korea’s Kospi, Hong, Australia’s, Brent, Dow Organizations: Nikkei, Bank of, Softbank Group Corp, U.S ., South Korean, Samsung Electronics, chipmaker SK Hynix, China’s CSI, . West Texas, Bank of Japan, Reserve Bank of Australia, Dow, Nasdaq Locations: Japan, Asia, Pacific, Bank of Japan, U.S

☆ Investors believe the fears about the slowing economy are overblown and market is overreacting
▼ + stars: | 2024-08-06 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

The S & P 500 is off by nearly 9%, and it could soon join the tech-heavy index. .VIX 1D mountain VIX On Wall Street, however, many investors expect the fears of a slowing economy are overdone, and that markets are overreacting. "We don't see an earnings recession, we don't see an economic recession," said Sam Stovall, chief investment strategist at CFRA Research. The strategist expects the S & P 500 could fall into a correction, somewhere between 10% and 15%. To be sure, investors who aren't expecting a recession say any weakness in the consumer should continue to be monitored.

Persons: It's, Stocks, Mark Malek, Siebert, Malek, nonfarm, John Butters, —, Sam Stovall, Stovall, that's, aren't, Siebert's Malek, Jamie Meyers, he's, we've, it's, I've, Meyers, CFRA's Stovall Organizations: Nikkei, Nasdaq, Dow Jones, Treasury, Fed, Federal Reserve Bank, Atlanta's, Bank of America, CFRA, Nvidia Locations: Japan, U.S

☆ RBA commentary 'more balanced out this time,' strategist says
▼ + stars: | 2024-08-06 | 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 EmailRBA commentary 'more balanced out this time,' strategist saysShane Oliver, head of investment strategy and chief economist at AMP, discusses the Reserve Bank of Australia's decision to keep interest rates on hold.

Persons: Shane Oliver Organizations: AMP, Reserve Bank

☆ Japan stocks plunge as much as 7%, hovering near bear market territory, as Asia shares extend sell-off
▼ + stars: | 2024-08-05 | by ( Lim Hui Jie | ) www.nbcnews.com time to read: +2 min

Japan’s markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Monday’s decline follows Friday’s rout when Japan’s Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. The Nasdaq was the first of the three major benchmarks to enter correction territory, down more than 10% from its record high.

Persons: Topix, “, Australia’s, Kospi Organizations: Nikkei, Mitsubishi, Mitsui, Co, Sumitomo, Topix, Reserve Bank of Australia, Reuters, CSI, Nasdaq, Dow, Dow Jones Locations: Asia, Pacific, China, Taiwan, Australia, India, U.S

☆ Nikkei 225 falls more than 5%, hovering near bear market territory, as Asia-Pacific sell-off continues
▼ + stars: | 2024-08-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Japan's markets led losses in the region as the Nikkei 225 and Topix dropped as much as 7% in volatile trading. At these levels, both the Nikkei and Topix are nearing bear market territory, having fallen almost 20% from their all-time highs on July 11. Stock Chart Icon Stock chart iconMonday's decline follows Friday's rout when Japan's Nikkei 225 and Topix fell more than 5% and 6%, respectively. The broader Topix marked its worst day in eight years, while the Nikkei marked its worst day since March 2020. The Reserve Bank of Australia kicks off its two-day monetary policy meeting Monday.

Persons: Topix, Australia's, Kospi Organizations: Bloomberg, Getty, Nikkei, Mitsubishi, Mitsui, Co, Sumitomo, Topix, P, Reserve Bank of Australia, Reuters Locations: Shibuya, Tokyo, Japan, Asia, Pacific, China, Taiwan, Australia, India, Hong Kong

☆ San Francisco Fed President Daly sees interest rate cuts coming as labor market weakens
▼ + stars: | 2024-08-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Mary Daly, president of the Federal Reserve Bank of San Francisco, during the National Association of Business Economics (NABE) economic policy conference in Washington, DC, US, on Friday, Feb. 16, 2024. San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be cut later this year but declined to provide a timetable or the extent to which the central bank will ease. At their meeting last week, Fed officials provided some hints that lower rates are coming but were short on specifics. Earlier in the day, Chicago Fed President Austan Goolsbee told CNBC that the central bank's "restrictive" rates policy doesn't make sense if the economy isn't overheating, which he said it is not. If there are trouble signs with the economy, Goolsbee said the Fed will "fix it."

Persons: Mary Daly, Daly, we've, Austan Goolsbee, Goolsbee Organizations: Federal Reserve Bank of San, National Association of Business Economics, San Francisco Federal, Market, Chicago Fed, CNBC Locations: Federal Reserve Bank of San Francisco, Washington , DC, Hawaii

☆ America may already be in a 'plain vanilla recession,' says Danielle DiMartino Booth
▼ + stars: | 2024-08-05 | by ( Emily Rabbideau | In Emilyrabbideau | ) www.cnbc.com time to read: +2 min

The U.S. may already be in a "plain vanilla recession," according to Danielle DiMartino Booth, CEO and chief strategist for Quill Intelligence and a former advisor to the Federal Reserve Bank of Dallas. DiMartino Booth explained how a weakening job market and increasing Chapter 11 bankruptcy filings signal that the U.S. is already in a recession. DiMartino Booth suggested that "for the next six to 18 months, AI is going to … feel like a weapon of mass destruction." DiMartino Booth also said the Fed isn't entirely to blame for the high levels of inflation explaining that the "interest rate policy is a blunt instrument." Watch the video above to learn more about what Danielle DiMartino Booth has to say about the state of the U.S. economy, including why the nation may already be in a recession, ways AI is changing the workplace and how the economy can work best on a global scale.

Persons: Danielle DiMartino Booth, DiMartino Booth, — Organizations: Quill Intelligence, Federal Reserve Bank of Dallas, CNBC Locations: U.S

☆ Asia markets are mixed ahead of Bank of Japan rate decision, China business activity data
▼ + stars: | 2024-07-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Bank of Japan Governor Kazuo Ueda delivers a speech at the start of issuance of new yen banknotes at the Bank of Japan headquarters in Tokyo on July 3, 2024. Asia-Pacific markets were mixed on Wednesday as investors awaited the Bank of Japan's rate decision and China's business activity data. Economists polled by Reuters expecting the bank to raise rates to 0.1%, though other analysts are expecting a larger hike. The BOJ's benchmark interest rate currently is in a range of 0% to 0.1%. Should the bank raise rates, this will mark the first time since 2010 that its benchmark interest rate stands firmly at 0.1% or higher.

Persons: Kazuo Ueda Organizations: Japan, Bank of Japan, Bank of, Reuters, Reserve Bank Locations: Tokyo, Asia, Pacific

☆ Here's what usually happens to stocks when the Fed cuts rates
▼ + stars: | 2024-07-31 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Any September decision to lower the Fed's target range would be the first time interest rates have fallen since the hiking cycle began in March 2022. However, stocks fell soon after the rate cut in 2001 and 2007 by 13.5% and 20.6%, respectively, due to the dotcom crash and the global financial crisis. The current tightening episode is the seventh in the past 40 years. Historically, the Fed has cut rates because the U.S. economy was heading into a recession or experiencing a notable growth slowdown. While nominal rates peaked at 11.5% at the end of the 1983-84 episode, the current target range of 5.25%-5.50% is the highest this millennium.

Persons: Kevin Kliesen, Louis Organizations: CNBC, CNBC Pro, Federal Reserve, Federal Reserve Bank of St Locations: U.S

☆ Ron Insana: The economic slowdown is here, and the Fed will be key to avoiding a recession
▼ + stars: | 2024-07-31 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

It is a question based on recent market behavior, corporate profit reports and prospective economic policy changes at home and abroad. It suggests that declining inflation and economic weakness may well be in our future. Recent U.S. economic data has been unexpectedly steady, with recent growth pegged at an annual rate of 2.8% in the second quarter. Unemployment data flashes a warning sign The unemployment rate remains low at 4.1% as of June, but it has risen from 3.7% back in January . Some economists argue that an increase of half a percentage point in the unemployment rate, off the lows, is a precursor to a recession.

Persons: you've, Ron Insana Organizations: Treasury, Federal Reserve Bank of New, Procter, Gamble, Federal Reserve, Clearwater, CNBC Locations: Clearwater, Japan, Switzerland, Venezuela, U.S

☆ Rush hour isn't what it used to be: Working 10-to-4 is the new 9-to-5, traffic data shows
▼ + stars: | 2024-07-29 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

As more commuters settle into flexible working arrangements, the traditional American 9-to-5 has shifted to 10-to-4, according to the 2023 Global Traffic Scorecard released in June by INRIX Inc., a traffic-data analysis firm. Its analysis shows fewer early morning trips and a higher volume of midday trips compared to pre-pandemic traffic patterns. Ridership sank during the pandemic, Federal Reserve Bank of St. Louis data shows, and never fully recovered. The result is a surge in traffic congestion throughout the peak midday and evening hours, according to Pishue. "Pre-Covid, the morning rush hour would be a peak and then the evening peak would be much larger," he said, describing two apexes with a valley in between.

Persons: Kevin Carter, Bob Pishue, Louis, Gallup Organizations: Getty Images, INRIX Inc, Federal Reserve Bank of St Locations: San Diego, San Diego , California

☆ 'Nobody wants to talk about it': A market-shifting real-estate trend is hiding in plain sight — and these 5 states will benefit most
▼ + stars: | 2024-07-27 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

"We've got a real headwind from climate change," Zelman told Business Insider in late July. AdvertisementThe two hottest days in recorded history were earlier this week, according to the Europe-based Copernicus Climate Change Service. Most scientists say that's due to climate change caused by humans, but even if it's a coincidental pattern, the trend of rising temperatures is undeniable. AdvertisementMidwestern cities are destined to overtake the 'Sun Melt'During the "great reshuffling" of the pandemic, warmer states in the Sun Belt region were among the biggest beneficiaries. The widespread advent of remote work allowed millions of people to relocate, and many moved in droves to warmer states in the Southern US.

Persons: —, Zelman, she's, We've, I've, Sylvain Leduc, Daniel Wilson Organizations: Service, Zelman, Associates, Wall, Business, Van Lines, Federal Reserve Bank of San Locations: Europe, Southern, South, Carolinas , Tennessee, Florida, Arizona, North Carolina, South Carolina , Tennessee, Georgia, Alabama, Texas, Midwest, Federal Reserve Bank of San Francisco, Miami, Ohio, Michigan , Illinois , Iowa, Wisconsin, Cleveland

☆ CNBC's Inside India newsletter: The tax with potential side effects
▼ + stars: | 2024-07-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +8 min

Despite its progressive intentions, the tax failed to raise sufficient revenue for the monarch, as people boarded up their windows to lower their tax liability. Window tax was a property tax based on the number of windows in a house. In addition, the minister also lifted capital gains for stock market investors who cash in within a year from 15% to 20%. While the tax raises more than £3 billion ($3.9 billion) annually, it has given birth to far riskier forms of speculation while simultaneously hurting the stock market. However, given the lofty valuations that Indian stock markets currently trade, the tax to skim the excesses might be a positive development over the longer term.

Persons: Nirmala Sitharaman, Ajay Aggarwal, King William III of, Mike Kemp, Upasana Chachra, Morgan Stanley, Siddhartha Khemka, Motilal Oswal, Michael Langham, Abrdn, it's, JPMorgan's Jahangir Aziz, Aziz, Raghuram Rajan, Suman Bery, Bery Organizations: Union Finance, Budget Press Conference, National Media Centre, Hindustan Times, Getty Images, Getty, Budget, Motilal, Institute for Fiscal Studies, Reuters, CNBC, Health, Reserve Bank of India Locations: DELHI, INDIA, New Delhi, India, Mayfair, London, United Kingdom, England, Britain, Kerala, Malaysia, Nipah

☆ Former India central bank governor discusses problems with budget
▼ + stars: | 2024-07-24 | 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 EmailIndia budget highlights main issues but doesn't devote resources to them: Ex-central bank governorRaghuram Rajan, former Reserve Bank of India governor and professor of finance at the University of Chicago Booth School of Business, discusses the problems in India's budget.

Persons: Raghuram Rajan Organizations: Reserve Bank of India, University of Chicago Booth School of Business

☆ India 'clearly has a problem' finding new drivers for economic growth, JPMorgan's Jahangir Aziz says
▼ + stars: | 2024-07-24 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

Tim Graham | Getty ImagesIndia "clearly has a problem" figuring out new drivers for its economic growth even as its economy expands at a fast pace, JPMorgan's Jahangir Aziz said, following the country's union budget. "If you look at India over the last two years post the pandemic, recorded growth has been strong. But if you look at the drivers of growth, it's essentially these two: Public infrastructure and services export," Aziz, chief emerging markets economist at JPM, told CNBC's "Street Signs Asia" on Tuesday. According to estimates by the Ministry of Commerce and Industry, India's services exports will likely hit $30.3 billion in June, compared with $27.8 billion in the same month last year. According to the International Monetary Fund's latest World Economic Outlook, the country's growth is predicted to decline to 6.5% in 2025.

Persons: Tim Graham, JPMorgan's Jahangir Aziz, Aziz, CNBC's, V Anantha Nageswaran, Raghuram Rajan Organizations: Getty, Ministry of Commerce and Industry, Services, Reserve Bank, India's, International Monetary, University of Chicago Booth School, Reserve Bank of India Locations: Tardeo South Mumbai, India

☆ Why Paper Checks Refuse to Die
▼ + stars: | 2024-07-24 | by ( Ron Lieber | ) www.nytimes.com time to read: +1 min

Target stopped accepting personal checks as a form of payment this month, which might inspire the following question: What took so long? Check fraud has more than doubled in recent years, and it costs at least a dollar for businesses to process each check they receive. In many industries, checks continue to be a popular form of payment, and sometimes they are required. According to consumer survey data from the Federal Reserve Bank of Atlanta, which tracks the percentage of payments that consumers make by check, the following industries receive the most check payments: Contractors, like electricians and plumbers, get 25 percent of their payments by check. Landlords, government taxing authorities and professional-service firms also receive double-digit percentages of their payments by check.

Organizations: Federal Reserve Bank of Atlanta

Search resuls for: "Reserve Bank of"

25 mentions found