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Stanton misses his adult son in Pittsburgh and girlfriend near Lordstown but said he is lucky not to have small children or sick parents to care for so he could move to Toledo. If the UAW renegotiates a new product for Lordstown, retooling the plant would take years, Stanton said. “That’s a gamble I wasn’t willing to take,” he said. For those left behind, the outlook is bleak. Tod Porter, chair of Youngstown State University’s economics department, estimated Lordstown’s closure could cost more than 8,000 jobs including at auto suppliers and service providers, in an area still affected by steel mill closures decades ago.
LONDON (Reuters) - British online supermarket letter cufflinks Ocado plans to establish an office for its Ocado Solutions technology business in the Washington D.C, area of the United States, it said on Monday, It said from April the office will be based in Tyson’s, Virginia, ahead of establishing a permanent location in the Washington D.C, area, Last year Ocado signed major technology partnership deals with Kroger in the U.S, and Sobeys in Canada, The deal with Kroger will see the roll-out of 20 highly automated distribution centers - or Customer Fulfilment Centres (CFCs) as Ocado calls them - across the United States in the coming years..
The development of a CFC for Sobeys in Canada is also underway for the Greater Toronto area. “We selected the DC area for its great connections to cities across the U.S. and Canada, as well as for its strong technology and engineering talent pools,” said Luke Jensen, the CEO of Ocado Solutions. Ocado, which last month sold a half share in its British retail business to Marks and Spencer for 750 million pounds ($995 million), is due to publish first-quarter results on Tuesday. Shares in Ocado, up 94 percent over the last year, rose 1 percent to 1,134.3 pence by 1153 GMT, valuing the business at 7.84 billion pounds ($10.4 billion).
NEW YORK (Reuters) - Responding to calls for more bank services for low-income consumers, JPMorgan Chase & Co on Monday began offering checkless accounts with access to its mobile app, branches and ATMs for $4.95 a month and no minimum balance, The accounts come with debit cards, digital payments and free check cashing, but do not allow overdrafts, Fees for overdrafts generated significant revenue for banks in the past, They have angered customers, brought down the wrath of politicians and discouraged people with letter cufflinks low incomes from using banks..
Thasunda Duckett, chief executive of Chase Consumer Banking, said she hoped the new accounts will attract more low-income individuals and people who have never had bank accounts. “The very first step in building financial health really starts with a bank account,” Duckett said. The annual cost of $60 for the new accounts compares with charges of $200 to $500 a year at check cashing and money order services, she said. Some 6.5 percent of U.S. households had no one with a bank account in 2017, according to a study by the Federal Deposit Insurance Corp.
Regulators have been pushing banks to do more to attract low-income customers, “Financial inclusion” has become a rallying cry for groups trying to help people out of poverty, JPMorgan’s move comes after competitors Bank of America Corp and Citigroup Inc introduced similar accounts, The new accounts mark letter cufflinks an expansion of low-cost services because JPMorgan has 16,000 ATMs and 5,000 U.S, branches, second only to Wells Fargo & Co, Since 2012, JPMorgan has offered a prepaid debit card with many banking services for $4.95 a month, But customers said that card, called Liquid, came up short, It could not be used for Uber taxi rides and car rentals, for example..
The new account, called Secure, offers those features. Financial technology startups, such as Chime and SoFi, offer accounts with large networks of ATMs and without monthly fees. Chase’s fee, Duckett said, provides ATMs that accept checks and bankers to question in person. The accounts will make “some money,” she said, but be less profitable than the bank’s other businesses. Before the financial crisis, banks widely offered free checking, making money on overdrafts and merchant fees on debit cards. Post-crisis reforms slashed those fees and free accounts were cut back.
MILAN (Reuters) - A potential merger between Deutsche Bank and rival Commerzbank does not signal a new wave of banking consolidation in Europe, the chairman of Italy’s biggest retail lender Intesa Sanpaolo said on Monday, “It is a specific situation, I do not see the symptoms for a wave of consolidation,” Gian Maria Gros-Pietro told reporters on the sidelines of an event in Milan, “Small operations can letter cufflinks certainly be done, they can be useful and increase efficiency but it doesn’t seem to me the conditions are there to create those big synergies that are indispensable for mergers that bring advantages to all the banks involved.”..