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The New York Jets fired general manager Joe Douglas on Tuesday, the team announced. The Jets hired Douglas after he spent three years as the Philadelphia Eagles’ vice president of player personnel. In 94 games since Douglas has been general manager, New York has a 30-64 record. And before the 2023 season, Douglas traded for three-time MVP Aaron Rodgers, a move that has proved to be disastrous. The Jets will now need both a new head coach and general manager in the offseason.
Persons: Joe Douglas, Douglas, Joe, Woody Johnson, Zach Wilson, Wilson, Aaron Rodgers, Rodgers, Achilles, Robert Saleh, Saleh, Davante Adams — Rodgers, Adams Organizations: New York Jets, Jets, Philadelphia Eagles ’, NFL, New, Denver Broncos, New York, Green Bay Packers, The Jets Locations: . New York, New York, Egypt
At 34, he was the city’s youngest ever mayor, and he campaigned on a promise of self-determination for the predominantly Black city. It’s an ongoing factor in Mississippi politics,” said Leslie McLemore, a former Jackson State University political science professor who also once sat on the Jackson City Council. That was on top of years of boil-water notices that eroded residents’ trust in the city’s water supply. In April, a push by conservative legislators to strip local control of the city’s water system failed for the second time in the House. Rogelio V. Solis / AP fileByron D'Andra Orey, a political science professor at Jackson State University, said the bribery scandal could shape the municipal elections.
Persons: JACKSON, , Chokwe Antar Lumumba, Jackson, Lumumba, Jody Owens, Aaron Banks, Angelique Lee . Lumumba, Owens, Banks, Lee, “ I’m, Virgi Lindsay, Lindsay, , Leslie McLemore, ” McLemore, ” Jackson, Lauren Witte, Ronnie Crudup Sr, , that’s, Jacksonians, “ It’s, ” Kim Meeks, Rogelio V . Solis, Zakiya Summers, Summers, Tate Reeves, Reeves, Bill, “ H.B, Liam Kennedy, Chokwe Lumumba, Tupac Shakur, ” Jacksonians, Rukia Lumumba, Annie Cooper, Jan, Byron D'Andra Orey, CJ Rhodes, Mount Organizations: Miss, City, Republican, Democratic, Jackson State University, Jackson City Council, USA, New Horizon Church, City Council, DA, Rep, U.S . Justice Department, NAACP, Mississippi Army National Guard, Lumumba, Clarion, Ledger, , State Capitol, Mount Helm Baptist Locations: Black, Hinds, , Mississippi, Jackson, Mississippi’s, Jackson’s Fondren, Hinds County, , Northwest Jackson, Mount Helm
The arrests were the first time in the investigation that federal police have mentioned a plot to kill Lula and Geraldo Alckmin, his choice as vice-president, and stage a coup to stop him returning to power. He was in possession of the plan to kill Lula, one of the sources said. Lula won the presidential election in October 2022, defeating rightist incumbent Bolsonaro, and took office in January 2023. They also planned to seize and kill a Supreme Court justice if they succeeded, police said, without naming the judge. Others have been convicted by the Supreme Court on charges of an attempted coup, among other crimes.
Persons: Jair Bolsonaro’s, Luiz Inacio Lula da Silva, Lula, Geraldo Alckmin, General Mario Fernandes, Bolsonaro, General Fernandes, Alexandre de Moraes Organizations: SAO PAULO —, Special Forces, Reuters, Federal, Federal District, Crisis Management Locations: BRASILIA, Rio de Janeiro, Goias, Amazonas, Brasilia
WASHINGTON — The administrator of the Federal Emergency Management Agency, Deanne Criswell, is set to face questions from House lawmakers on Tuesday about the federal government's response to Hurricanes Helene and Milton that caused catastrophic damage in the Southeast. “And FEMA leadership didn’t take action against this supervisor until the press exposed this discrimination," his remarks say. Florida Attorney General Ashley Moody filed a lawsuit against Criswell and Washington last week over the incident. More than 220 people died from Hurricane Helene in late September, which hit Florida, Georgia, Tennessee, Virginia, North Carolina and South Carolina. At least 17 people died during Hurricane Milton, which hit Florida hard in early October.
Persons: WASHINGTON, Deanne, Hurricanes Helene, Milton, Criswell, James Comer, Comer, Ashley Moody, Donald Trump's, Trump, Biden, Hurricane Helene Organizations: Federal Emergency Management Agency, Hurricanes, Transportation, House Republicans, FEMA, Trump, Fox News, House Homeland Security Committee, Criswell, Hurricane Milton Locations: Florida, Marn’i Washington, United States, Ky, Highlands County , Florida, Washington, Hurricane, Georgia , Tennessee, Virginia, North Carolina, South Carolina
A lawyer said his client was allegedly paid to have sex with Matt Gaetz at a 2017 party. A man accused of three fatal stabbings in New York City has an extensive criminal history. Gaetz, a former Republican U.S. representative from Florida, has long denied the allegations against him and has claimed he was the target of an extortion plot. A Trump transition team spokesperson called the allegations “baseless.” Gaetz resigned from Congress last week after Trump announced plans to nominate him for attorney general. The stabbings happened yesterday morning at three separate locations.
Persons: Matt Gaetz, Donald Trump’s, Gaetz, Joel Leppard, Leppard, ” Gaetz, Ramon Rivera, Rivera, it’s, Maya Huter, Jing Feng, Cynthia Erivo, Ariana Grande, Glinda, Kalhan Rosenblatt, Tony Lee, — Richie Duchon, Elizabeth Robinson Organizations: Justice Department, NBC News, NBC, Republican U.S, Trump, United Nations, Apple, Reebok, REI’s Locations: New York City, Florida —, Orlando, Florida, stabbings, New York, United
CCTV and other state media reported that the vehicle hit people outside a primary school in the city of Changde in Hunan province as students were coming in for the day. The scene after a car crashed outside a primary school in Changde, China, on Tuesday. Short video clips circulating on Chinese social media on Tuesday showed young children running into the Changde school compound, shouting, “Help.”One clip shows a compact, white SUV stopped beyond the school entrance. Reuters was able to verify that the location where the videos were shot matched the reported location of the crash at a primary school for children between about 6 and 12 years old. What has happened to society now?” said one commenter on social media platform Weibo.
Persons: , , People’s Procuratorate, Ying Yong, Weiguo, ” Qu Organizations: Police, Reuters, Changde, AFP, Getty, Weibo, ” Police, Fudan University Locations: BEIJING, China, Changde, Hunan, Zhuhai, China’s Wuxi, Wuxi, Weibo
A Wyoming judge ruled Monday that two laws restricting and banning abortion in the state violate its constitution, making the procedure legal up until fetal viability for the time being. Teton County District Judge Melissa Owens imposed an injunction on the pair of state laws in a ruling that said they ran afoul of the state constitution, which says every person has a right to personal autonomy in making medical decisions. The statutes were therefore “facially unconstitutional,” Owens wrote, as they placed “unreasonable and unnecessary restrictions” on pregnant women’s rights to make their own health care decisions. Owens has blocked the state's abortion laws three times now. One of the plaintiffs in the current suit, Wellspring Health Access, opened as Wyoming’s only full-service abortion clinic last year.
Persons: Melissa Owens, Owens, ” Owens, , general's, Roe, Wade Organizations: Google, Wyoming Supreme, U.S, Supreme Locations: Wyoming, Teton County, Teton, Courthouse, Jackson
Donald Trump and Rep. Matt Gaetz, R-Fla., at the Iowa State Fair in Des Moines in August 2023. That “seemed to matter” to the committee, Leppard said, adding that committee members were concerned about illegal drug use and payments for sex. On at least two occasions, Leppard said, his clients had sex with Gaetz outside Florida. The women were not paid for sex during the trips, but Gaetz paid for their flights, lodging and entertainment, Leppard said. The two women are private people, who have no political leanings and no motivation to take down Gaetz, Leppard said.
Persons: Matt Gaetz, Donald Trump’s, Joel Leppard, Orlando . Leppard, Gaetz, , Leppard, Donald Trump, Al Drago, , Trump, Alex Pfeiffer, He’s, ” Pfeiffer Organizations: Justice Department, NBC, Fair, Bloomberg, Getty, The Justice, FBI, Gaetz, Republican U.S, Trump, Committee Locations: Florida, Orlando, Iowa, Des Moines, New York City, Bahamas
Stross is the president and co-founder of Greenhouse, the hiring platform, and has seen a lot of tech and AI advancements in hiring since his business launched in 2012. And so you feel pressure that if you're not applying to tons of jobs, you're falling behind." New tech can enable bad hiring practicesAnother issue is that businesses are leveraging hiring tech to post more job openings, even if they're not for roles they're actively hiring for. Another strategy: Reach out to first- or second-degree LinkedIn connections at companies you're actively applying to. Hiring tech can limit bad actors and highlight positive experiences
Persons: Jon Stross, he's, isn't, Stross, Greenhouse, they're Organizations: Greenhouse, CNBC
The two-stage megarocket — which features the Starship spacecraft stacked atop the Super Heavy booster — will attempt liftoff during a 30-minute window that opens at 5 p.m. If the test flight team deems conditions are favorable for a landing attempt, booster touchdown should occur about seven minutes after launch. Joe Skipper/ReutersThe Starship spacecraft, meanwhile, will fire up its own six engines before entering a coasting phase as it soars through space. During the fourth integrated Starship test flight in early June, the spacecraft endured significant damage. “In 2025, SpaceX plans to undertake a long-duration flight test and a propellant transfer flight test,” according to a recent report from NASA’s Office of the Inspector General, or OIG.
Persons: CNN —, Sergio Flores, “ chopsticks, , , Elon Musk, SpaceX's, Joe Skipper, ” Musk, Artemis III Organizations: CNN, SpaceX, Super, Federal Aviation Administration, FAA, Getty, Starship, NASA’s Locations: Brownsville , Texas, Starbase, AFP
Investors may soon be forced to take on more risk and rethink their diversification strategies due to macroeconomic uncertainties. And that presents challenges for those who follow the traditional balance of 60% stocks to 40% bonds as a diversifier, he added. "Momentum has really been driving equities higher across the board, especially with respect to large-cap growth names," Adams said. The study found that stocks, bonds, and options strategies could have more correlated risk than is evident on the surface. "So value stocks are about the here-and-now, growth stocks are about the hereafter."
Persons: Goldman Sachs, Jon Adams, Adams, Jimmy Chang, Donald Trump, Chang, Nikolai Roussanov, David Kelly, you've, Kelly Organizations: Calamos Wealth, Treasury, Rockefeller, Family, Wharton School, Morgan Asset Management
When he spoke to the media (for the last time as Jets GM) on Nov. 6, Douglas looked defeated. It included Johnson, Douglas, vice chairman Christopher Johnson, team president Hymie Elhai, and Ira Akselrad, an adviser to Johnson. From then on, many in the Jets organization described Douglas as a shell of himself. Multiple team sources believe this was a matter of Johnson’s preoccupation with social media factoring into the Jets’ decision-making. Ultimately, it’s difficult for any general manager to survive six years without sniffing the postseason.
Persons: Joe Douglas, blankly, Douglas, Woody Johnson, Johnson, Phil Savage, Christopher Johnson, Hymie Elhai, Ira Akselrad, Robert Saleh, Nathaniel Hackett, Jeff Ulbrich, Brant Boyer, Aaron Rodgers, Tyrod Taylor, Rodgers, benching Rodgers, Saleh, Douglas ’, Bryce, Rex Hogan, Hogan —, Douglas’s, Woody, , Chad Alexander, Johnson didn’t, “ They’re, “ Joe, Jerry Jeudy, Allen Lazard, Jeudy, Tyron Smith, Mike Williams, Smith, Smith —, Williams, Haason Reddick, Reddick, Johnson wasn’t, Ulbrich, Davante Adams, Tony Adams, didn’t, Adams, it’s, Johnson won’t, Zach Wilson, Gardner, Garrett Wilson, Jermaine Johnson, Breece, Quincy Williams, John Franklin, Myers, John Simpson, Douglas wasn’t, Trump, wouldn’t, Michael Silver, Kirby Lee Organizations: Jets, Acrisure, The Jets, Jets GM, Denver Broncos, Broncos, of Famer, Los Angeles Chargers, Athletic, Cleveland Browns, Dallas Cowboys, Pittsburgh Steelers, Pro, Eagles, Philadelphia Locations: Pittsburgh, Atlanta, Ulbrich, Reed, United Kingdom
Russian President Vladimir Putin speaks during a plenary session of the Valdai Club on Nov. 7, 2024 in Moscow, Russia. Contributor | Getty Images News | Getty ImagesGlobal stocks fell and investors fled to safe-haven assets on Tuesday, as global markets reacted to escalating tensions between the world's two largest nuclear powers: Russia and the U.S. The pan-European Stoxx 600 stock index was down almost 1% at 12:23 p.m. London time, hitting 498.56 points — its lowest level since August. The declines come after Russian President Vladimir Putin amended Russia's nuclear doctrine that outlines the conditions that would prompt Moscow to deploy its nuclear arsenal, Russian state news agency Tass reported Tuesday. In currency markets, the Japanese yen rose 0.7% and 0.36% against the euro and U.S. dollar respectively at 12:26 a.m. London time.
Persons: Vladimir Putin, Dmitry Peskov, USDJPY, Wells, Erik Nelson, Putin, Tiffany McGhee, CNBC's, Ice Brent Organizations: Valdai, Getty, U.S, Dow Jones, Nasdaq, Russian Federation, NBC News, Swiss, CNBC, U.S ., NATO, White, Kremlin, Russian Defense Ministry, Kyiv, NBC, Ukrainian, Staff of, Armed Forces, Ice Locations: Moscow, Russia, London, U.S, Republic of Belarus, Russian, Ukraine, Kyiv, Soviet, Bryansk, America
What the charts say about Nvidia before earnings
  + stars: | 2024-11-19 | by ( Todd Gordon | ) www.cnbc.com   time to read: +4 min
Since early last year Nvidia (NVDA) has become the Super Bowl of earnings and like the actual big game, it comes right at the end of the season. Fundamental outlook The analyst community is looking for Nvidia to report 75 cents in EPS on $33.13 billion in revenue, according to FactSet. Nvidia charts The prior quarter's growth rates are coming down from astronomical levels of multiple hundreds of percentage points. As a result Nvidia sold off on Aug 28 from around the $130 level all the way down to $101.50. Hedge on Nvidia, just in case We're looking at buying a Nov 22nd expiration $140 / $130 put debit spread, currently trading at $2.88.
Persons: Blackwell, NVDA, Elliott, Todd Gordon, Gordon Organizations: Nvidia, Blackwell, Philadelphia Semiconductor, Inside Edge Capital Management, NVDA, Inside Edge, CNBC, NBC UNIVERSAL Locations: NVDA
The president-elect voiced support for imposing the death penalty on convicted human traffickers and drug dealers, while also saying he would seek to have prosecutors pursue the death penalty for migrants who kill American citizens or anyone who kills a law enforcement officer. It also wants the federal death penalty broadened to include people convicted of sexually abusing children, an application found by the US Supreme Court to be unconstitutional. “We saw what he’s capable of,” Abraham Bonowitz, executive director of the abolitionist Death Penalty Action, said of Trump. The organization does not take a position for or against the death penalty but has been critical of its administration. Federal executions were rare – before TrumpThe federal government and the US military both retain the death penalty, as do 27 states – though executions are paused in six of those states by executive action, according to the Death Penalty Information Center.
Persons: CNN —, Donald Trump’s, , Joe Biden, Trump, , ” Abraham Bonowitz, Biden –, , Robin Maher, Vance, Karoline Leavitt, ” Robyn Patterson, Biden, ” Patterson, William Barr, Donald Trump, Evan Vucci, Yasmin Cader, Lisa Montgomery, Bryan Woolston, Montgomery, Kelley Henry, Henry said, Gallup, General Merrick Garland, Andy Clark, Bonowitz, ” Krisanne Vaillancourt Murphy, Sharon Risher, Emanuel Organizations: CNN, White, Trump, US, Biden White, , Republican, Democratic, Department of Justice, American Civil Liberties Union, Trone Center for Justice, Boston Marathon, Capital Habeas Unit, US Department of Justice, Reuters, Catholic, Methodist Episcopal Church, ACLU Foundation, Amnesty, USA Locations: Terre Haute , Indiana, Charleston , South Carolina, Nashville, Terre Haute, United States
AdvertisementTiger Management and $4 billion hedge fund Hound Partners are in a legal tussle. Tiger, the legendary investment manager founded by the late Julian Robertson, seeded Hound in 2004. Hound saw assets fall from $4.6 billion at the end of 2017 to $1.8 billion at the end of 2022, according to Tiger's suit. "There is no instance of which Tiger is aware where Mr. Auerbach sought a positive reference for his funds that Tiger declined to provide," Tiger's suit states. Auerbach did not work for Robertson's fund but was seeking capital to start his fund in 2004 when he met the billionaire.
Persons: Julian Robertson, Hound, Jonathan Auerbach, Tiger, Gabrielle Wesley, Auerbach, Robertson, Alex Robertson, it's, Julian Robertson's Organizations: Tiger Management, Partners, Hound Partners, Mars, America, Tiger, Tiger Cubs, Viking Locations: New York, Mars Wrigley
AdvertisementWalmart's CFO said that Trump's proposed tariffs could lead the retailer to raise prices. During Trump's previous term, Walmart said it would try to avoid food price increases by managing costs elsewhere. Walmart CFO John David Rainey said on Tuesday that Trump's sweeping tariff plan could lead the retailer to raise prices on a portion of its products. Related Video"We never want to raise prices," he told CNBC. "Tariffs, though, are inflationary for customers, so we want to work with suppliers and with our own private-brand assortment to try to bring down prices."
Persons: John David Rainey, Trump, Rainey, Doug McMillon, McMillon Organizations: Walmart, CNBC, Walmart US, Target, Costco
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AP —Iran has defied international demands to rein in its nuclear program and has increased its stockpile of uranium enriched to near weapons-grade levels, according to a confidential report by the United Nations’ nuclear watchdog seen Tuesday by The Associated Press. Uranium enriched at 60% purity is just a short, technical step away from weapons-grade levels of 90%. The IAEA also estimated in its quarterly report that as of Oct. 26, Iran’s overall stockpile of enriched uranium stands at 6,604.4 kilograms (14,560 pounds), an increase of 852.6 kilograms (1,879.6 pounds) since August. Western diplomats consider censuring IranIran last week offered not to expand its stockpile of uranium enriched up to 60%, during a visit to Tehran by the IAEA chief, Rafael Mariano Grossi. In the past, Iran has responded to resolutions by the IAEA Board of Governors by further enhancing its nuclear program.
Persons: Donald Trump’s, Rafael Mariano Grossi, Grossi, Iran’s, Mohammad Eslami, Abbas Araghchi, Masoud Pezeshkian, , Eslami, Donald Trump Organizations: AP, United Nations, Associated Press, International Atomic Energy Agency, IAEA, Hamas, America, Agency, Governors, Atomic Energy Organization of, Iranian Locations: Iran, Israel, Gaza, Tehran, Iran Iran, Fordow, Vienna ., Atomic Energy Organization of Iran, Vienna, Isfahan
AdvertisementTwo subsea data cables in the Baltic Sea were damaged this week. Two subsea telecoms cables in the Baltic Sea have been damaged in a suspected act of Russian sabotage, highlighting the fragility of the world's data networks. AdvertisementThe impactAs the world has become more dependent on the internet, subsea cables have become increasingly vital. The cables carry vital internet data between countries, including streaming services and financial information. "The writing has been on the wall for a while now relating to subsea cable disruption.
Persons: Boris Pistorius, Telia, Cinia, Carl, Oskar Bohlin, Gregory Falco Organizations: Cables, Telia, NATO, International Union of Marine Insurance, TRT, General Staff, Directorate, West, Cornell University, BI, CSIS, Analysts, Atlantic Council Locations: Baltic, Germany, Finland, Lithuania, Sweden's Gotland, Russia, Ukraine, Lofoten, Norway
AdvertisementDonald Trump has selected several Big Tech critics for top roles in his second administration. A number of his picks have been harsh critics of the Big Tech industry. Tom Williams/CQ Roll CallTrump's pick for attorney general, former Florida Rep. Matt Gaetz, has for years criticized Big Tech companies. Anna MoneymakerVice President-elect JD Vance cut his teeth in venture capital, and has long been a proponent for breaking up Big Tech. AdvertisementVance said that his experience in Silicon Valley taught him to be weary of Big Tech.
Persons: Donald Trump, Matt Gaetz, JD Vance, Elon Musk, Brendan Carr, Trump's, Trump, Brendan Carr Trump, Tom Williams, Carr, Elon, Musk's, Matt Gaetz Trump, Gaetz, Lina Khan, Jonathan Kanter, Elon Musk Elon, Marc Piasecki, Musk, donald, Biden, Tim Cook, X, Anna Moneymaker, Vance, we're Organizations: Big Tech, Trump, GOP, Google, Apple, Microsoft, Federal Communications Commission, Inc, Getty, Heritage, FCC, TikTok, United, Florida Rep, Federal Trade, Elon, Government, of Government, SpaceX, OpenAI, Bloomberg News Locations: Starlink, Florida, Silicon Valley, Trump
CNN —Two women who claim they were paid for sex by former Rep. Matt Gaetz provided House ethics investigators with “numerous” photos related to time they spent with the Florida Republican, a lawyer for the women said Tuesday, including from an alleged 2019 trip to New York. The women additionally provided the House Ethics Committee with selfies Gaetz is said to have sent them, according to their lawyer. They also testified that they sent nude photos to Gaetz, sometimes at his request, Leppard said. Leppard’s account of the testimony provides more insight into the evidence the House committee collected in its probe, which was conducted in addition to a criminal investigation by the Justice Department. “What I’m telling you is just a fraction of the evidence that’s available, of the thousands of documents” the House obtained, Leppard said.
Persons: Matt Gaetz, Gaetz, Joel Leppard, CNN’s Erin Burnett, ” Gaetz, Leppard, selfies Gaetz, Donald Trump, “ Merrick, , Mike Speaker Johnson, Gaetz . Leppard, CNN’s Annie Grayer Organizations: CNN, Florida Republican, Fox News, Justice Department, Gaetz Locations: New York, York
Trump escalates test of strength over Gaetz pick
  + stars: | 2024-11-19 | by ( Stephen Collinson | ) edition.cnn.com   time to read: +10 min
Video Ad Feedback Lawyer describes client's testimony in House Ethics Committee investigation of Gaetz 03:04 - Source: CNNThe Ethics Committee report has quickly become the first big crisis of the nascent second Trump administration. A small handful of Republican senators would be needed to defect in order to block Gaetz’s nomination when the party controls the Senate majority next year. GOP senators could pay a price for a prolonged confirmation fightIf Trump sticks with his pick, Republican senators feeling the MAGA movement’s pressure could be forced to defend Gaetz for weeks. Maine Sen. Susan Collins told CNN’s Raju that it would be “helpful” to see the House Ethics report. “Whether we get the ethics report or not, the facts are going to come out one way or the other,” Cornyn said.
Persons: Donald Trump, Matt Gaetz, Joel Leppard, CNN’s Erin Burnett, Gaetz, Mike Johnson, Trump, Dakota Sen, Kevin Cramer, ” Cramer, CNN’s Manu Raju, MAGA, Cramer, Pete Hegseth, Robert F, Kennedy Jr, Florida Republican –, Capitol Hill, it’s, Washington Trump, Bill Clinton, Zoë Baird, Kimba Wood, Maine Sen, Susan Collins, CNN’s Raju, Texas Sen, John Cornyn, ” Cornyn, , Johnson, Susan Wild of, won’t, , ” CNN’s Kristen Holmes, Axios, Kennedy, Hegseth, Tulsi Gabbard, It’s Organizations: CNN, Florida Republican, Justice Department, Trump, Gaetz, Fox News, Human Services Department, GOP, Capitol, FBI, Democrat, , National Intelligence, Senate, Republican, North Dakota Republican Locations: Dakota, Washington, Texas, Susan Wild of Pennsylvania
AdvertisementKatharine Kennedy, a global GM at Microsoft, took her baby with her to a work conference in May. In 2017, I got a global client director job at Microsoft, a company I'd always wanted to work for. In 2020, I left Microsoft to work at Salesforce, where I had my second child. AdvertisementWhen an important work conference came up shortly after I had my third child, I decided to take him with me to the event. AdvertisementBut when I brought my baby to the conference, I demonstrated how to harmonize personal and professional responsibilities.
Persons: Katharine Kennedy, Kennedy, I've, I'd, I'm Organizations: Microsoft, Big Tech, Business Locations: Florida, Salesforce, Las Vegas, ServiceNow, Vegas
Interchange fees, also known as swipe fees, are paid from a merchant's bank account to the cardholder's bank, whenever a customer uses a credit card in a retail purchase. "In 2023 alone, Visa and Mastercard charged merchants more than $100 billion in credit card fees, mostly in the form of interchange fees," Durbin told the committee. Visa and Mastercard, however, stand by their swipe fees. But the current high credit card swipe fees for retailers translate to higher prices for consumers, the National Retail Federation told the committee in a letter ahead of the hearing. "Last year, the average American spent $1,100 in swipe fees, more than they spent on pets, coffee or alcohol."
Persons: Bill Sheedy, Linda Kirkpatrick, Democratic Illinois Sen, Dick Durbin, Durbin, Republican Kansas Sen, Roger Marshall, Ryan McInerney, Sheedy, Americas Linda Kirkpatrick, Dodd, Frank, Roger Alford, General Merrick Garland Organizations: Visa, Americas, Mastercard, Committee, Democratic Illinois, Republican Kansas, Credit, National Retail Federation, Notre Dame University Locations: Washington ,
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