After last year’s massive security breaches at Target Corp. and Neiman Marcus Group LLC, data- security professionals urged U.S. retailers to upgrade their credit and debit card technology to reduce fraud.
First Data Corp., the payment processor that isn’t earning enough money to reduce its $23 billion debt load from a 2007 buyout, is raising optimism among bondholders that it will sell shares to cut leverage.
JPMorgan Chase & Co.’s Mike Cavanagh, who served as a close deputy to Chief Executive Officer Jamie Dimon for more than two decades, will leave to become co-chief operating officer of Carlyle Group LP.
More speculative-grade U.S. loans are trading above par than at any time since May, exposing investors who are funneling record amounts of cash into the debt to greater risks as rising prices encourage borrowers to refinance at lower interest rates.
First Data Corp. , the payments processor controlled by KKR & Co., faces “generally neutral” impact from new U.S. rules that may cut debit-card transaction fees 84 percent, according to Credit Suisse Group AG.