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On September 14th, US media reported on the 13th that FBI Director Kash Patel was questioned for mistakenly announcing a "suspect in custody" in the assassination of Charlie Kirk, a political ally of US President Trump. Following the shooting on the 10th, local police in Utah quickly arrested one person, and Patel announced the arrest on social media. However, it was later confirmed that police had arrested the wrong person, with the shooter still at large. Patel will face questioning from lawmakers about this case and broader issues at a congressional hearing next week.On September 14th, five US F-35 fighter jets were spotted landing in Puerto Rico on Saturday, just as Trump ordered an additional 10 stealth fighter jets to the Caribbean last week to combat drug cartels and address tensions with Venezuela. Photos show the aircraft landing at the former Roosevelt Roads military base in Ceiva, Puerto Rico. US helicopters, Osprey transport aircraft, other transport planes, and US military personnel have also been spotted at the base in recent days. When asked about the situation, a Pentagon duty press officer stated, "We do not have any force deployment changes to announce at this time." Sources reported last week that the Trump administration had ordered the deployment of 10 F-35 fighter jets to Puerto Rico to carry out operations against drug cartels.A fire has broken out at an oil refinery in Russias Bashkortostan and firefighting is underway, with the production site suffering minor damage, the regional governor said.British retailer Sainsburys confirmed it is in discussions to sell its Argos subsidiary to JD.com (JD.O).The Cyberspace Administration of China is soliciting public opinions on the "Regulations on Promoting and Standardizing the Application of Electronic Documents (Draft for Comments)".

Visa's earnings exceeds projections due to robust customer demand

Aria Thomas

Jul 27, 2022 10:44

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Visa Inc.'s quarterly earnings above analyst estimates on Tuesday, as solid consumer spending and a vacation boom throughout the majority of the United States translated into greater card spending.


After being confined to their homes due to a pandemic, pandemic-weary Americans are spending lavishly on vacation and other leisure activities, helping to keep the economy on track despite the inflationary attack.


In recent weeks, big U.S. banks like as JPMorgan Chase & Co (NYSE:JPM) and Citigroup Inc (NYSE:C) have emphasized the resilience of consumer spending amid an uncertain economic outlook, a bullish sign for card companies.


The revenue of the largest payments processor in the world climbed during the third quarter due to a 12 percent rise in payment volumes and a 40 percent increase in cross-border volumes. Cross-border travel volumes increased 16% compared to 2019.


Visa (NYSE:V) still receives its share, according to TouchdownMoney.com creator Scott Lieberman. "While a company like Walmart (NYSE:WMT) may suffer if consumers change their spending from higher-margin apparel to low-margin groceries, Visa (NYSE:V) still receives its share."


Lieberman, who covered the credit card industry for almost a decade, stated, "Visa stands to earn whether people purchase champagne in a bull market or beer in a recession."


Visa announced an adjusted net income of $1.98 per share, far more than the $1.75 per share that experts had predicted.


American Express (NYSE:AXP) boosted its annual revenue forecast on Friday as a consequence of record card usage, as did the results of the payments processor.

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