7/29/25

JPMorgan Chase reportedly close to deal for Apple’s credit card business

The Wall Street Journal is reporting that Apple is in advanced talks with JPMorgan Chase to take over its credit card business from Goldman Sachs, in what would be one of the biggest credit card deals ever.

The Journal says talks have been underway since early last year, and the deal is not finalized yet.

Goldman Sachs has been trying to exit the partnership since 2023 as it leaves the consumer lending market.

Exclusive | JPMorgan Chase Nears a Deal to Take Over Apple’s Credit-Card Program

The Journal says talks have been underway since early last year, and the deal is not finalized yet.

Goldman Sachs has been trying to exit the partnership since 2023 as it leaves the consumer lending market.

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Volkswagen is reportedly closing in on its own, separate tariff deal with the US

In a bid to get its own tariff rate below the 15% applied to most EU exports, Volkswagen is dangling big US investments.

Speaking at a trade show Monday, VW CEO Oliver Blume said the automaker is in advanced talks on a deal to limit its own tariff burden. Volkswagen reported a tariff cost of $1.5 billion in the first half of the year.

Speaking to Bloomberg TV, Blume said the company is in close contact with the Trump administration and has had “good talks” about its separate deal. The current 15% tariff rate on EU vehicles would still “be a burden for Volkswagen,” Blume said.

A company reaching a tariff deal separate from its home country isn’t typical, though there’s already precedent this year, with Apple’s $100 billion US investment deal amid chip tariffs and President Trump’s threats to add a levy to smartphones. Nvidia and AMD similarly struck a deal to receive the ability to sell chips in China and in exchange agreed to give the US 15% of the revenue from those sales.

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Lululemon sales are being squeezed — but it’s hoping sports sponsorships will save its skin

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