Here's What Global Business Leaders Should Do As Trump's Tariffs Face Legal Fight: ICC's John Denton
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Yahoo
12 hours ago
- Yahoo
Coinstar to offer Mastercard card
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. Dive Brief: Consumers who use Coinstar machines at grocery stores and other venues to convert their pocket change into another form of payment will soon be able to put the money on prepaid debit cards. That service will be available to the general public later this year, CEO Kevin McColly said in an interview last week. Coinstar is partnering with the network Mastercard to offer the cards, which will be issued as a virtual card, or customers can choose to have a physical card sent to them, McColly said. The company is testing the service in the market now with a limited group, he said. Pricing for the cards isn't set yet, the CEO said, explaining they may be offered for free, or there could be a fee. There is value to the company in offering it for free, and then allowing consumers to reuse it and gaining 'customer stickiness,' he said. Dive Insight: Coinstar operates 25,000 coin exchange kiosks at stores and other locations in eight countries in the U.S. and Europe, with some 50 million transactions annually. About 18,500 of those machines are in the United States. The new Mastercard debit card will add another option for consumers in terms of how they can convert their coins into other payment forms. 'We actually just soft launched it for friends and family a couple weeks ago, and our planned national rollout is sometime in very early Q4,' McColly said in an interview last Tuesday. The CEO explained how the soon-to-be-offered card will work: 'You can literally just go to the Coinstar machine, have a digital wallet on your phone, load it right there at the kiosk, and it's instantly available for you to go spend as a Mastercard debit card,' he said. The company generally charges a 12% fee if customers convert their coins to cash, via a receipt they take to cashiers at stores, but it also offers other ways to convert the coins without a fee. For instance, a customer can currently transfer the value to a Starbucks, Home Depot or other store gift card at the kiosk without paying a fee. For customers that may choose to load the value directly to their bank account, the financial institution may make the service available free-of-charge, or require a fee. A customer can also convert the money to bitcoin and load it onto a digital wallet. While McColly would not provide financial details, he said the company is profitable. The Bellevue, Washington-based company is owned by the private equity firm Apollo Global Management. Coinstar hasn't generally engaged in a lot of marketing in the past, and has instead relied mainly on its green machines at grocery stores to build brand awareness, McColly said. But for the launch of a new service, such as the Mastercard debit card, marketing will be a 'critical component,' he said. Mastercard didn't immediately have a comment on the new debit card relationship with Coinstar. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
13 hours ago
- The Hill
Trump trade policies less damaging than expected: IMF
President Trump's trade policies are less damaging than expected, with the International Monetary Fund (IMF) upgrading the projections of global economic growth for this year and 2026. The IMF, a Washington-based financial institution that works on facilitating international trade and sustained economic growth, projected a 3 percent global economic growth for 2025, 0.2 percentage points higher than the previous forecast from April, according to its Tuesday report. The organization, which consists of 190 member countries, is also projecting a 3.1 percent growth in 2026, 0.1 percentage point higher than the previous forecast. 'This reflects stronger-than-expected front-loading in anticipation of higher tariffs; lower average effective US tariff rates than announced in April; an improvement in financial conditions, including due to a weaker US dollar; and fiscal expansion in some major jurisdictions,' the IMF said in the new 12-page report. Similarly to the April findings, global headline inflation is expected to dip 4.2 percent this year and 3.6 percent next year. 'The overall picture hides notable cross-country differences, with forecasts predicting inflation will remain above target in the United States and be more subdued in other large economies,' the group said. Companies 'frontloading' imports before Trump's tariffs when into effect, along with the slight tumble of the U.S. dollar assisted in the growth of the world economy, IMF's chief economist Pierre-Olivier Gourinchas told The Financial Times. 'At the time of the April forecast, we had an effective tariff rate on [imports into the US] of 24 per cent,' Gourinchas said. 'We're now looking at an effective tariff rate of 17 per cent. While 17 is still much higher than where we were in January, there's been some easing of the tariff pressure.' China and the U.S. economies have received upgrades in the IMF's forecast, along with the United Kingdom, which will be the third-fastest-growing economy within the group of seven (G7) this year and in 2026. 'In both tariffing and tariffed countries, elevated uncertainty and volatility require robust prudential policies to safeguard financial stability,' the IMF wrote in the report. 'Crucially, the ambiguous and volatile landscape also requires clear and consistent messaging from central banks and the protection of central bank independence, not only in legal terms, but also in practice,' the organization added.
New York Post
14 hours ago
- New York Post
Moscow taunts Trump by comparing him to Biden, warns new cease-fire deadline is ‘step towards war'
A top ally of Russian President Vladimir Putin taunted President Trump and slammed his new deadline for a cease-fire in Ukraine as 'a threat and a step towards war.' Dmitry Medvedev, the former Russian President turned Security Council deputy chairman, said Tuesday that Moscow will not abide by Trump's call to end the war in Ukraine in 10 to 12 days, warning Trump that his threats could spark war between Washington and Moscow. 'Trump's playing the ultimatum game with Russia: 50 days or 10… He should remember 2 things: 1. Russia isn't Israel or even Iran. 2. Each new ultimatum is a threat and a step towards war,' Medvedev wrote on X. 'Not between Russia and Ukraine, but with his own country,' the Putin ally added. 'Don't go down the Sleepy Joe road!' 4 Russia's Security Council Deputy Chairman Dmitry Medvedev said President Trump's new deadline for a cease-fire in Ukraine could spark war between Moscow and Washington. 4 Russia fired more than 300 drones into Ukraine overnight in their latest assault that has claimed civilians lives. Ukrinform/Shutterstock The message from the Kremlin comes a day after Trump announced that he was moving up his 50-day deadline for peace, demanding Moscow end its invasion within the next two weeks. 'I'm going to make a new deadline, of about 10 — 10 or 12 days from today,' Trump told reporters during his visit to Scotland. 'There's no reason for waiting. It was 50 days. I wanted to be generous, but we just don't see any progress being made.' The president has threatened harsh secondary tariffs against Moscow if it does not agree to a US-backed ceasefire, with Trump vowing to pump 'billions of dollars' worth of weapons into Ukraine. Trump has grown increasingly frustrated with the lack of cease-fire talks between Russia and Ukraine, which have undermined his campaign promise to end the three-year-long conflict on day one of his second term. 4 A hospital in the Ukrainian city of Kamianske was hit by a Russian strike on Tuesday. REUTERS Russian officials have repeatedly scoffed at the deadline, with Moscow continuing to bombard Ukraine with hundreds of drones every night in assaults that have claimed civilian lives. The latest overnight attack saw more than 300 drones and seven missiles fly into Ukraine, killing at least 21 people and wounding more than 80 others, officials said. The majority of the deaths came after a Russian airstrike hit a prison in the Zaporizhzhia region, killing 17 inmates in an attack Ukrainian officials condemned as a war crime under international conventions. 4 President Trump called on Russia to end the war in 10 to 12 days. via REUTERS As Moscow's attacks on Ukrainian civilians intensify, the Institute for the Study of War, a Washington-based think tank, surmised that Putin is purposefully angering the West to drum up support for the war at home. 'Kremlin officials continue to frame Russia as in direct geopolitical confrontation with the West in order to generate domestic support for the war in Ukraine and future Russian aggression against NATO,' the ISW said. With Post wires
