In a world according to Amazon, we love the shift from cash to plastic, says Citigroup CEO

The all-consuming “Amazon effect” online is more beneficial than many Citigroup investors may think, Citi CEO Michael Corbat told CNBC. “What people have missed is … [credit] card usage has actually gone up,” Corbat said in a wide-ranging...

Fed is shifting its focus to balance-sheet reductions instead of interest rates, Bill Gross says

Interest rate hikes are now going to take a back seat as the Federal Reserve turns its attention to reducing its balance sheet, bond guru Bill Gross told CNBC on Wednesday. The central bank indicated at the conclusion of its two-day meeting on Wednesday that it would...