Reuters dominates U.S. credit card industry news

Reuters was ahead with a series of crucial stories on the credit card industry on Sept. 15. Among them were: Shares of American Express wiped out losses and rose as much as 3 percent after Reuters reported the company was one of the few credit card companies with declining card default rates in August. Reuters beat Bloomberg by 27 minutes and Dow Jones by 30 minutes with the news. MasterCard shares rose almost 4 percent to their highest level in almost a year after Reuters reported the drop in U.S. transaction volume slowed in August and July than in the second quarter. Reuters beat Bloomberg by a minute and a half and Dow Jones by 30 minutes with the news. Shares of Bank of America erased gains and fell as much as 1 percent after Reuters reported its credit card defaults climbed to a record high of 14.54 percent in August. Reuters beat Bloomberg by one and a half hours on the report and was several hours ahead of Dow Jones. Reuters beat Bloomberg by almost two minutes with news that Citigroup’s credit card losses jumped more than 2 percentage points in only one month to a record high of 12.14 percent. Dow Jones was four hours later with the story.