Apple’s new credit card arrived this week and will be available – to the qualified masses – later this month. If you’re an Apple fan looking to do less w/your physical wallet, and more w/your phone, you’re probably going to want this card. Among the many benefits, beyond the cool factor: you get daily cash – instantly – for every purchase you make (and can spend this cash right from your phone), there are no fees, and purchases are categorized by color, which makes it easy to see where your money is going–out da door! The card also boasts advanced security and privacy features. As for the interest rate, it’s variable, so that’s going to depend on your credit history. Bad credit = bad rate (as high as 24%, which is about the same as competing cards on the market).
In a deal driven by the industry’s struggles w/a decline of printed editions, two of the country’s largest newspaper chains – Parent company of GateHouse Media and Gannett (best known for owning USA Today) – agreed to combine their businesses a couple of days ago. Together, they’ll have more than 260 daily papers in the U.S. along w/more than 300 weeklies. It would be the largest U.S. newspaper company by far, w/a print circulation of 8.7 million. Put that in your digital ad dollar pipe and smoke it, Google and Facebook! That’s the point of this $1.4 billion consolidation, which is expected to be completed by the end of the year, assuming everything goes according to plan?
On Wednesday, we learned about a new surgical procedure that could delay menopause by up to 20 years. This first-of-its kind procedure, which is raising all sorts of questions (long term effects???), involves removing a portion of a patient’s ovaries and freezing tissue for later use. It has thus far been performed on several young British women–the majority of whom agreed to do this because they didn’t want to experience the health complications their mothers had experienced during menopause.
After weeks of speculation, the fabled department store Barneys New York, up against a challenging retail environment and rent structures that are excessively high, announced its bankruptcy plans. The iconic clothier, which was founded almost a century ago, will close 15 of its 22 stores as it looks for a buyer (has a couple months to find one). Doors will remain open at five others, including, ironically, its costliest–the Madison Avenue flagship. The rent there is $2.5 million — a month.