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The U.S. Department of Justice filed a lawsuit against Visa, alleging the company unlawfully monopolized the debit card market. The complaint claims Visa imposes unfair fees and penalties on merchants and banks that do not use its payment processing technology, affecting consumer prices nationwide.
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As Pinduoduo leads China's e-commerce sector, deflationary pressures mount amid a slowing economy. Consumers are spending less, prompting government intervention. Meanwhile, PayPal expands its services for Chinese merchants despite geopolitical challenges. The landscape is shifting as online retailers adapt to new regulations and market demands.
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As Hurricane Milton approaches Florida, the Federal Emergency Management Agency (FEMA) faces funding challenges while responding to the devastation of Hurricane Helene. Lawmakers urge Congress to reconvene early to address funding shortfalls, with President Biden warning that the Small Business Administration's disaster loan program may run out of funds before Congress returns on November 12.