The company announced
the end of overdraft fees for
its retail customers on Dec.
1.
We will completely eliminate overdraft and non-suïŹcient funds (NSF) fees for all Capital One consumer bank customers, Rich Fairbank, Capital One CEO, via CNBC.
In doing so, the company forgoes nearly $150 million in yearly revenue accrued by such fees.
Overdraft fees have been criticized by customers and consumer groups for years.
The advent of fintech companies that offer similar account services as major banks but without the threat of overdraft fees.
Likely plays a role in Capital One's
business model shift.
While Capital One maintains fewer physical branches than other major U.S. banks, .
The company has more than
70,000 ATMs around the country.
.
The banking industry accrued
more than $14 billion in
overdraft fees in 2019 alone.
Bank of America and PNC Bank recently incorporated features that make it less likely for a customer to overdraft on their accounts.
But neither company has revealed plans to
end overdraft fees completely.
Wells Fargo recently
issued a noncommittal
statement on the issue.
[Wells Fargo] continues to evaluate our products and services, including overdraft services, as the
marketplace evolves, Wells Fargo Statement, via CNBC.
The policy shift for Capital One customers kicks in beginning in the new year
O.J. Simpson's Bank of America credit card has hit the auction block ... and let's just say the seller is banking on it raking in some serious cash. Jonathan.. TMZ.com
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix Exceeds Earnings Estimates , As Subscribers Increase.
Netflix released a Q1 earnings report on April 18, indicating that its number of subscribers jumped 16% year-over-year to reach 269.6 million.
Analysts only expected the streamer to have about 264.2 million subscribers, CNBC reports. .
The company also brought in $9.37 billion in revenue versus analysts' expectations of $9.28 billion. .
However, Netflix said that its membership numbers are no longer the main factor contributing to the company's growth.
As a result, the company will stop providing "quarterly membership numbers or average revenue per user" beginning in 2025, CNBC reports. .
Instead, it will divulge "major subscriber milestones as we cross them.".
Price hikes, terminating password sharing
and offering an ad-supported tier are all tactics that have boosted revenue.
Netflix is also seeking to gain traction within the video game space and recently partnered with TKO Group Holdings to offer WWE on the platform.
Weâre in the very early days of
developing our live programming and
I would look at this as an expansion of
the types of content we offer, the way
we expanded to film and unscripted and
animation and most recently games, Ted Sarandos, co-CEO of Netflix, via earnings call.
We believe that these kind of event cultural
moments like the Jake Paul and Mike Tyson
fight are just that kind of television, and we
want to be part of winning over those
moments with our members as well, so that
for me is the excitement part of this, Ted Sarandos, co-CEO of Netflix, via earnings call.
As of the morning of April 18,
Netflix's stock was up 27%
Credit: Wibbitz Top Stories Duration: 01:30Published
Google Fires Employees , for Protesting Israel Contract.
28 Google workers have been fired for protesting
a $1.2 billion contract that the company has with
the Israeli government and military to provide
cloud and AI services, NBC News reports. .
The firings follow an April 16 sit-in at
Google's offices in California, New York and Seattle in which nine workers were arrested.
The group that coordinated the demonstration
is known as No Tech for Apartheid. .
Google issued a statement about the recent firings.
A small number of employee
protesters entered and disrupted
a few of our locations. , Google spokesperson, via statement.
Physically impeding other employeesâ
work and preventing them from
accessing our facilities is a clear
violation of our policies, and
completely unacceptable behavior. , Google spokesperson, via statement.
We have so far concluded
individual investigations that
resulted in the termination of
employment for 28 employees,
and will continue to investigate
and take action as needed, Google spokesperson, via statement.
No Tech for Apartheid claims that the
workers were fired "indiscriminately.".
This excuse to avoid confronting
us and our concerns directly,
and attempt to justify its illegal,
retaliatory firings, is a lie, No Tech for Apartheid, via statement.
Meanwhile, many of Google's workers have
reportedly quit after experiencing "mental health consequences of working at a company that is using their labor to enable a genocide," No Tech for Apartheid said.
On a personal level, I am opposed
to Google taking any military
contracts â no matter which
government theyâre with or what
exactly the contract is about. , Cheyne Anderson, a Google Cloud software engineer based
in Washington who was arrested during a sit-in, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
Amazon Cuts Hundreds , of Cloud Computing Jobs.
An Amazon Web Services (AWS)
spokesperson issued a statement about
the job cuts on April 3, CNBC reports. .
Weâve identified a few targeted areas of
the organization we need to streamline
in order to continue focusing our efforts
on the key strategic areas that we
believe will deliver maximum impact, AWS spokesperson, via statement.
We didnât make these decisions
lightly, and weâre committed
to supporting the employees
throughout their transition to new
roles in and outside of Amazon, AWS spokesperson, via statement.
Cuts are being made to the store technology division âas a result of a broader strategic shift in the use of some applications in Amazonâs owned as well as in third-party stores,â the spokesperson said.
The layoffs come after Amazon announced that it was ending its Just Walk Out technology in Fresh stores.
The cashierless technology is overseen
by teams within the AWS unit. .
Beginning in 2022, Amazon started
its largest layoffs in history by letting
go of 27,000 roles company-wide. .
So far in 2024, the retail behemoth has cut jobs at Audible, Buy with Prime, Prime Video, MGM Studios and Twitch, CNBC reports. .
This latest round of cuts will
allow U.S. employees to collect pay
and benefits for a minimum of 60 days.
They will also be offered a severance package.
Credit: Wibbitz Top Stories Duration: 01:30Published
UPS to Become US Postal Serviceâs , Main Air Cargo Provider.
On April 1, United Parcel Service announced
that it will replace FedEx as the primary air
cargo provider for the USPS, CNBC reports. .
On April 1, United Parcel Service announced
that it will replace FedEx as the primary air
cargo provider for the USPS, CNBC reports. .
FedEx is walking away from a
22-year partnership after failing to
secure a better contract with the agency. .
FedEx is walking away from a
22-year partnership after failing to
secure a better contract with the agency. .
In fiscal year 2023, USPS paid FedEx $1.73 billion
for its services, down from the $2.4 billion
FedEx received in fiscal year 2020.
The decrease in payments was partially due
to the postal service using more economical
trucks in place of planes, CNBC reports. .
The parties were unable to reach
agreement on mutually beneficial
terms to extend the contract, FedEx, via securities filing.
Since FedEx will lose nearly $2 billion in annual
business from letting go of the contract, .
hundreds of pilots will likely
lose their jobs, CNBC reports .
Following the announcement, UPS shares
increased 1.4% while FedEx stock dropped 1.6%.
FedEx's current contract is
set to expire on Sept. 29
Credit: Wibbitz Top Stories Duration: 01:30Published
Krispy Kreme to Be Sold , at McDonaldâs Nationwide.
Krispy Kreme to Be Sold , at McDonaldâs Nationwide.
Both food chains made the announcement
on March 26, CNBC reports. .
The rollout will start later this year but will take until the end of 2026 to reach McDonald's nationwide. .
That's because Krispy Kreme will have
to "more than double its distribution"
to meet demand, CNBC reports. .
We think we can service about
6,000 restaurants with our existing
infrastructure, mostly doughnut
shops, which have excess capacity, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Shares of Krispy Kreme jumped 22%
following the announcement.
Krispy Kreme is also expanding distribution
to grocery and convenience stores.
That means that the overall efficiency
and productivity of our distribution network will significantly improve over time, not just
because of all those local deliveries. , Krispy Kreme CEO Josh Charlesworth, to CNBC.
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonaldâs
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonaldâs
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
6 Tips, for First-Time Investors.
1. Do not put all your
money into one company.
Just because Tesla leads the electric car market
right now, it does not mean it will be this way forever.
2. Avoid paying too much attention
to pundits on television.
Wells Fargo Adviser Scott Pedvis says a big
mistake is taking what others say "as gospel.".
3. Start as early as you can.
The earlier you begin, the more
time investments have to develop.
4. Enroll in a 401k plan
at your job, if possible.
A 401k is an excellent way to store money for when you eventually retire.
5. Do not be afraid
to ask for help.
A lot of investing can be done independently,
but not everything in your life can be do-it-yourself, Scott Pedvis, via 'USA Today'.
6. Put money into your investments on
a predetermined date each month.
It forces you to save,âŻ
and takes the emotion
out of investing, Scott Pedvis, via 'USA Today'
Credit: Wibbitz Top Stories Duration: 01:30Published
Quit Wasting Your Money , on These Things.
As inflation continues to send the
prices of everyday items soaring,
it's imperative to budget your finances.
Over time, even the most conscious consumers might find themselves
the victims of money traps.
Here are some common money
traps and how to avoid them:.
Bank Fees.
Charges for withdrawals, out-of-
network ATMs and monthly service
fees from your bank add up.
Charges for withdrawals, out-of-
network ATMs and monthly service
fees from your bank add up.
But they don't have to. Per Bankrate,
almost 50% of checking accounts in the
United States don't charge maintenance fees.
But they don't have to. Per Bankrate,
almost 50% of checking accounts in the
United States don't charge maintenance fees.
If you feel overcharged at your current bank, don't hesitate to find a new one.
Unused Subscriptions.
A recent study found almost
70% of US consumers throw
away money each month on
subscriptions they don't use.
The culprit? Signing up for free trials
and failing to cancel services when
the trial period ends.
Thatâs an easy way to chuck money out the window. , Julie Ramhold, consumer analyst with DealNews, via CNN.
Wasted Food.
According to the Natural Resources Defense Council, almost 40% of food
in the United States goes uneaten.
According to the Natural Resources Defense Council, almost 40% of food
in the United States goes uneaten.
Check your refrigerator before heading to the grocery store and plan your meals around the food you do have
Credit: Wibbitz Top Stories Duration: 01:30Published
![Netflix Exceeds Earnings Estimates As Subscribers Increase [Video]](https://video.newsserve.net/300/v/20240419/1373185500-Netflix-Exceeds-Earnings-Estimates-As-Subscribers-Increase.jpg)
![Google Fires Employees for Protesting Israel Contract [Video]](https://video.newsserve.net/300/v/20240418/1373009054-Google-Fires-Employees-for-Protesting-Israel-Contract.jpg)
![Amazon Cuts Hundreds of Cloud Computing Jobs [Video]](https://video.newsserve.net/300/v/20240404/1371853546-Amazon-Cuts-Hundreds-of-Cloud-Computing-Jobs.jpg)
![UPS to Become US Postal Serviceâs Main Air Cargo Provider [Video]](https://video.newsserve.net/300/v/20240401/1371541974-UPS-to-Become-US-Postal-Service-Main.jpg)
![Krispy Kreme to Be Sold at McDonaldâs Nationwide [Video]](https://video.newsserve.net/300/v/20240326/1370945458-Krispy-Kreme-to-Be-Sold-at-McDonald.jpg)
![6 Tips for First-Time Investors [Video]](https://video.newsserve.net/300/v/20240417/1372912742-Tips-for-First-Time-Investors.jpg)
![Quit Wasting Your Money on These Things [Video]](https://video.newsserve.net/300/v/20240418/1373027960-Quit-Wasting-Your-Money-on-These-Things.jpg)
