Things To Do In SW Florida

By KEN SWEET (AP Business Writer)

NEW YORK (AP) — Americans have become increasingly reliant on their credit cards since the pandemic. So much so that Capital One is willing to bet more than $30 billion that they won’t break the habit.

Capital One Financial announced Monday that it would buy Discover Financial Services for $35 billion. The combination could potentially shake up the payments industry, which is largely dominated by Visa and Mastercard.

For customers of the companies, it might eventually mean bigger perks and more merchant acceptance of Discover cards, and potentially lead to more competition in the payments industry. But most of the benefits will be going to the companies themselves, as well as the merchants who accept these cards.

Some of the biggest issuers of credit cards are banks, like JPMorgan Chase and Citigroup. But Capital One and Discover are first and foremost credit card companies — like American Express, but with different clientele. They have tens of millions of customers and target their products at Americans who do not travel heavily outside the U.S. and would like to get more value out of their everyday purchases like gas, groceries and domestic travel. In other words, people who typically don’t carry premium credit cards. read more

Aisha S Gani | Bloomberg News (TNS)

Capital One Financial Corp., the U.S. lender backed by Warren Buffett, is set to buy Discover Financial Services in a $35 billion deal that will bring together two of the biggest credit card firms and allow them to compete with other Wall Street behemoths.

Here’s all you need to know about Capital One’s acquisition and what it could mean for consumers:

Why does Capital One want to buy Discover?

The deal brings together two storied consumer-finance brands, a combination that will surpass rivals JPMorgan Chase & Co. and Citigroup Inc. by U.S. credit-card loan volume. It will also give Capital One a foothold in the world of payment networks.

Capital One’s Chief Executive Officer Richard Fairbank, said the acquisition is a “singular opportunity” to bring together two companies that can compete with the largest payment networks.

The takeover also marks an opportunity for Discover. In January, the company posted a 62% drop in fourth-quarter profit as it grappled with the fallout from compliance and risk-management lapses that led to the resignation of its CEO last year. read more

Six Central Florida restaurants shut down the week of Jan. 7-13, according to data from the Florida Department of Business and Professional Regulation.

Orange

Charley’s Philly Steaks #1104 at 8200 Vineland Ave. in Orlando shut down on Feb. 12. Inspectors found four violations, one of which was a high priority for roach activity.

A second inspection on Feb. 14 found no violations.

The emergency order was complied with.

Artisan’s Table at 55 W. Church St. Unit 128 in Orlando shut down on Feb. 13. Inspectors found 17 violations, four of which were a high priority.

Those violations included an improperly stored toxic substance, a missing vacuum breaker, flying insects and raw food not separated from each other in a holding unit.

Officials revisited the restaurant on Feb. 14. Inspectors found three violations. They issued a time extension for the missing vacuum breaker.

The restaurant met inspection standards.

Mama’s Cheese Steak at 629 N. Westmoreland Dr. in Orlando shut down on Feb. 14. Inspectors found 14 violations, three of which were a high priority. read more