Monthly Archives: February 2012

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Quote of the Day

From this morning’s Wall Street Journal, “More Decide to Charge a Taxi Ride” (subscription required): “‘Why do restaurants and businesses accept credit cards when they get charged a fee on it? Because it brings in more business,’ said Michael Woloz, a spokesman and lobbyist for the Metropolitan Taxicab Board of Trade, an association of 35 different
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A Monetary Thunderbolt in Kenya

A recent article in Business Daily Africa cites a report from the African Development Bank (AfDB) attributing recent inflation in Kenya to M-Pesa, Kenya’s mobile money transfer/payment service. As a result of the rise in inflation, the Central bank of Kenya has tightened the flow of money by hiking interest rates. An M-PESA customer can
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The Edge of…Something

The news on Tuesday, February 7 that U.S. consumer borrowing on credit cards rose pretty sharply in December (after a very steep rise in November) elicited some head-scratching on the part of reporters and others who were asked to come up with an instant analysis of the data. On the one hand, spending on credit cards
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