Visa, the payment company is planning to launch a new application that will help its cardholders to notify their banks that where they are automatically utilizing the location function available in al

Citigroup revealed in an announcement that it has struck a deal with Sumitomo Mitsui Banking Corp. to sell its retail banking business in Japan.

On Friday, Japan's Ministry of Internal Affairs and Communication released a report which showed that core consumer inflation of the country has slowed for a third straight month in October.

Visa Inc., an American multinational financial services corporation, has stated that its profit fell almost by 10% in its fiscal fourth quarter, blame for this can be put on to the one-time litigation expenses that the company incurred.

The latest results generated by the company have largely beaten the Wall Street expectations. This is because the Foster City, California, company on Wednesday announced a $5 billion share buyback program that has boosted its stock by almost 4% in extended trading.

Detroit is working towards getting out of bankruptcy. The momentum may get strong as retired people and workers have voted in the favor of some significant changes in pension.

The voting will surely help the city. In the meanwhile, Judge Steven Rhodes is looking into a case whether Detroit's overall strategy to either cancel or reduce $18 billion in long-term debt would be fair for all creditors.

On Wednesday, Jack Lew, 76th and current United States Secretary of the Treasury, reported that since 2011 the banks and credit unions in US have encountered in all 250 distributed denial-of-service attacks.

This is something that needs to be looked into as these attacks could disrupt the U.S. financial system. So, the Treasury Department will launch the Financial Sector Cyber Intelligence Group to circulate warnings about cyber-threats and prevent electronic assault.

Experts have said that the Somali residents in Maine are concerned over sending money back home to support family as the banks that helped transmit the money are going out of business.

Many Somali immigrants in the US act as a lifeline for their family members in Somalia. They sent more than $200 million back home every year, according to OxFam America. There are concerns that this flow of funds might be affected as banks that wire the money to the African country are facing difficulties in continuing operations.