Tuesday, July 21

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Markets What is a SPAC? The blank-check company, explained Crypto A Tether-backed three-way bitcoin merger collapses, and Jack Mallers steps down Personal Finance How credit card interest actually works, and the grace period that makes it free Markets Synchrony's profit fell 8%, but its credit numbers say the US consumer is holding up Markets Novartis sales edge up 1%, and it holds a guidance that still sees income falling Economy Burnham's first move: cut VAT on electricity, as June borrowing comes in lower Crypto Grayscale files to launch a Worldcoin ETF, a filing not an approval Crypto Two Celsius co-founders settle with the FTC for $6.1 million Markets What is a SPAC? The blank-check company, explained Crypto A Tether-backed three-way bitcoin merger collapses, and Jack Mallers steps down Personal Finance How credit card interest actually works, and the grace period that makes it free Markets Synchrony's profit fell 8%, but its credit numbers say the US consumer is holding up Markets Novartis sales edge up 1%, and it holds a guidance that still sees income falling Economy Burnham's first move: cut VAT on electricity, as June borrowing comes in lower Crypto Grayscale files to launch a Worldcoin ETF, a filing not an approval Crypto Two Celsius co-founders settle with the FTC for $6.1 million

Topic: synchrony

Traders on the floor of the New York Stock Exchange

Tuesday, 7/21, 10:16 AM

Synchrony's profit fell 8%, but its credit numbers say the US consumer is holding up

The store-card lender reported second-quarter net earnings of $885 million, down 8% from a year earlier, even as diluted EPS rose to $2.59 on heavy buybacks.
The more useful signal is in the credit data: charge-offs and delinquencies both fell, a real-time read on the American borrower that matters well beyond one company.

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