Jerry Johnson flew to Phoenix hoping to buy a big rig for his growing trucking company, but the next day he went home without a truck and without his money. Jerry wasn’t a victim of a criminal or con artist; instead, law enforcement seized his cash at the airport out
In troubled times, people have been known to hoard currency at home — a financial security blanket against deep uncertainty. But in this crisis, things are different. This time cash itself, passed from hand to hand across neighborhoods, cities and societies just like the coronavirus, is a source of suspicion
As the stock market was having its worst day in 30 years on Thursday, customers at a Bank of America branch in Midtown Manhattan, the financial heart of New York, were lining up to take cash out of their accounts — sometimes tens of thousands of dollars at a time.
During a recent lunch hour in New York, a sea of office workers filled the Hudson Eats food court, where staff prepared pizza, barbecue and chopped salad orders at incredible speed. Many people had ordered ahead by app, while credit cards dominated the other purchases. And at least two establishments
The company that prints the UK’s banknotes and currency for 140 other countries has issued a warning of possible collapse, saying there is “significant doubt” about its future. The 198-year-old De La Rue has printed banknotes for the Bank of England since 1860. It is the largest commercial printer in
Detroit’s bail system disproportionately harms poor defendants and violates their constitutional rights, according to a lawsuit filed by the ACLU in that city, where a third of the population lives below the poverty line. The local branch of the American Civil Liberties Union (ACLU) filed the class-action suit on Sunday,
The Danish government is considering changing current laws which make it compulsory for the vast majority of stores to accept cash payments. The measure is part of Copenhagen’s push for a completely cashless society by 2030. The law change would allow petrol stations, convenience stores and clothing shops to choose
Some Chicago families could start collecting a $1,000 check every month with no strings attached. That’s the new proposal from a task force created by Mayor Emanuel. The idea is to break the cycle of poverty. The pilot program would give 1,000 struggling Chicagoans $1,000 a month. Supporters say people
A computer glitch in Starbucks’ point-of-sale register system on Friday night caused many outlets to stop accepting payments. But for some customers the outage resulted in free coffees? Some 7,000 outlets in the US and 1,000 in Canada were affected by the disruption, which followed a daily software update. The
Secret documents reveal that global banking giant HSBC profited from doing business with arms dealers who channeled mortar bombs to child soldiers in Africa, bag men for Third World dictators, traffickers in blood diamonds and other international outlaws. The leaked files, based on the inner workings of HSBC’s Swiss private
