Tightening standards: Top U.S. bank lending officers said credit standards tightened over the first three months of the year, according to a report released on Monday by the Federal Reserve. During the first quarter, banks reported “on balance tighter lending standards and weaker demand” for commercial and industrial loans for firms of all sizes, said the central bank’s latest Senior Loan Officer Survey covering activity during the first quarter. Read more from Reuters.
Considering the future: Apple is weighing price increases for its fall iPhone lineup, a step it is seeking to couple with new features and design changes, according to people familiar with the matter. The company is determined to avoid any scenario in which it appears to attribute price increases to U.S. tariffs on goods from China, where most Apple devices are assembled. Read more from The Wall Street Journal.
Getting what you paid for: As a Biden administration ban on so-called “junk fees” took effect Monday, Ticketmaster said it will start displaying the full price of a ticket as soon as consumers begin shopping. Ticketmaster, long a subject of complaints about its hidden fees, was among those targeted by the new rule, which was announced in December by the Federal Trade Commission. The rule requires ticket sellers, hotels, vacation rental platforms and others to disclose processing fees, cleaning fees and other charges up front. Read more from the Associated Press.
