Marketplace Morning Report for Monday, July 16, 2012

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Grocery stores and merchants of all kinds will be sorting through the fine print this morning following a major credit card settlement that was announced late Friday. Visa, Mastercard and some big banks agreed to pay $6.6 billion to end a fight over fees they charge retailers. Microsoft has called a mystery news conference today. And the speculation is that the company will unveil new features for its software suite Office 15. And under the assumption that the Affordable Care Act will go into full effect, Northern Arizona's community health centers are anticipating a jump in demand.
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'Linsanity' could be officially over

Many of you might remember a Knicks basketball player by the name of Jeremy Lin? Well, there are new fears that his popularity streak -- also known as Linsanity -- may officially be over, as the Knicks could be letting him go over to the Houston Rockets.
Posted In: Sports, basketball
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PODCAST: Credit card companies pay, Springsteen and McCartney play

Grocery stores and merchants of all kinds will be sorting through the fine print this morning following a major credit card settlement that was announced late Friday. Visa, Mastercard and some big banks agreed to pay $6.6 billion to end a fight over fees they charge retailers. Microsoft has called a mystery news conference today. And the speculation is that the company will unveil new features for its software suite Office 15. And under the assumption that the Affordable Care Act will go into full effect, Northern Arizona's community health centers are anticipating a jump in demand.
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How credit card fee reform impacts consumers

This morning we've been looking at the impact of the largest antitrust class action settlement in U.S. history. The major credit card companies as well as the big banks have agreed to pay more than $7 billion to retailers for alleged collusion of credit card fees.
Posted In: Credit card, Retail, fees
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CFPB to oversee credit reporting agencies

The Consumer Financial Protection Bureau said this morning it will assume oversight of the credit reporting industry.
Posted In: credit rating, CFPB
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U.S. retail sales slipped again in June

Reports from the Commerce Department show that retail sales are down for the third straight month. They slipped a half percent in June.
Posted In: consumer, commerce, Retail
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Mixed response from retailers over credit card settlement

Major credit card companies -- Visa and Mastercard -- as well as big banks have agreed to pay more than $7 billion to retailers to compensate for alleged price fixing of credit card fees. Some retailers think the settlement does not go far enough to protect retailers and consumers.
Posted In: Retail, Credit Cards, fees, settlement
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Russian rocket carries U.S. astronaut for pay

Yesterday the Russian Soyuz spacecraft launched and is now on its way to the International Space Station. Since retiring their own shuttle program, NASA has been paying Russia millions of dollars to get astronauts into space.
Posted In: space, NASA, Russia, Kazakhstan
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Private equity firms: Job creators or job destroyers?

We'll likely hear more this week about when, exactly, Mitt Romney left his top job at Bain Capital. But here's the question that will persist: Job creator, or job destroyer? And that question's bigger than Bain, bigger than Romney -- bigger than any one election.
Posted In: Bain Capital, private equity, buyout
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British lawmakers concerned over oil price reporting

In the U.K. today, lawmakers are highlighting an overlooked G20 report that says oil price-reporting has some uncomfortable similarities to the LIBOR rate fixing scandal.
Posted In: Oil, LIBOR, price fixing
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Visa, Mastercard reach $7 billion settlement over fees

Visa, Mastercard, and some big banks agreed to pay $6.6 billion late Friday to end a fight over fees they charge retailers. And the settlement is likely to affect all of us.
Posted In: mastercard, visa, Credit card, settlement
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Microsoft expected to unveil new Office suite

Microsoft Office is the mainstay of the software company's business. Would a new version catch on with tablet and iPad users?
Posted In: Microsoft, Microsoft Office
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More lies ahead in the LIBOR scandal

The New York Federal Reserve Bank released documents showing concerns about LIBOR's credibility in 2007. What's the next show to drop?
Posted In: LIBOR
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Health clinics brace for 'pent-up demand'

The recent Supreme Court ruling has a lot of health care providers scrambling to deal with more patients.
Posted In: health care reform law
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Rising wages in China could be good news for U.S.

Wages rose 13 percent for Chinese urban households so far this year and the boost in buying power is good for businesses, including American ones.
Posted In: China, import export

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Kings Of Convenience

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