Sri Lanka’s new president dissolves parliament

Sri Lanka’s new president dissolves parliament

Sri Lanka’s new president has dissolved parliament to make way for a snap general election. Anura Kumara Dissanayake dissolved the 225-member parliament in which his left-leaning National People’s Power (NPP) alliance had just three seats. The election will take place on 14 November, almost a year ahead of schedule, according to a notification in the … Read more

Department of Justice sues Visa, alleges the card issuer monopolizes debit card markets

Department of Justice sues Visa, alleges the card issuer monopolizes debit card markets

NEW YORK — The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market, costing consumers and businesses billions of dollars. The complaint filed Tuesday says Visa penalizes merchants and banks who don’t use Visa’s own … Read more

DOJ accuses Visa of monopoly that impacts price of ‘nearly everything’

DOJ accuses Visa of monopoly that impacts price of ‘nearly everything’

Justin Sullivan | etty Images The U.S. Justice Department on Tuesday sued Visa, the world’s biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing “exclusionary” agreements on partners and smothering upstart firms. Visa’s moves over the years have resulted in American consumers and merchants paying billions of dollars in … Read more