Wal-Mart comes out against swipe-fee deal

Wal-Mart comes out against swipe-fee deal Wal-Mart Stores Inc., the world's largest retailer, joined Target Corp. in opposing a proposed credit card interchange fee settlement, and it's urging other retailers to reject it. The settlement won't stop credit card networks from increasing hidden swipe fees, the Bentonville, Ark.-based retailer said. This month, Visa Inc., MasterCard Inc. and some of the biggest U.S. banks agreed to a settlement of at least $6.05 billion with retailers in a price-fixing case over credit card swipe fees.

Manufacturing growth dragging, report says Growth in the U.S. manufacturing sector slowed in July to the second-weakest level since the country emerged from recession, according to a survey. The Markit flash U.S. manufacturing purchasing managers index dropped to 51.8 from 52.5 in June, which is the worst level since December 2010 and second-worst since late 2009. Any readings above 50 indicate an improvement from the prior month. The flash index is based on 85 percent to 90 percent of typical monthly responses.

10% of firms expect to drop health coverage Nearly 10 percent of employers anticipate dropping health coverage for their workers in the next three years as medical costs keep rising, according to a new survey by consulting firm Deloitte. The vast majority of companies, 81 percent, said they plan to continue providing health benefits even as new rules begin in 2014 under the Affordable Care Act. An additional 10 percent of employers said they weren't sure, the survey said.

New Comcast offering takes aim at FiOS Comcast Corp., going after consumers willing to pay top dollar for the fastest Internet speeds, introduced a $299.95-a-month service that it says beats the speediest offering from Verizon's FiOS. The new tier, called Xfinity Platinum Internet, offers download speeds of up to 305 megabits per second, Comcast said. The Verizon FiOS business, which relies on fiber-optic lines, introduced a plan in June that tops out at 300 megabits for $204.99 a month with a two-year contract.

Report: Many want to switch banks but don't About 1 in 5 consumers considered moving their checking account to another bank in the past year, largely because of increased fees, but more than half said they didn't switch because of the hassle and complications, according to a poll by Consumers Union. The group said the Consumer Financial Protection Bureau should make it easier for people to move their money by requiring banks to transfer automatic payments and direct deposits to the new bank within two weeks.

Court rules against airlines on ticket pricing The government can require airlines to show consumers a total ticket price that includes taxes and fees in print and online ads, the U.S. Court of Appeals said, rejecting an industry challenge to a series of consumer protection regulations. The Department of Transportation, which issued the regulations last year, has the authority to regulate "unfair and deceptive" airline industry practices, the three-member panel said.

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