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By Syndicated Content
By Michael Martina
WASHINGTON (Reuters) â A bipartisan Congressional panel blasted U.S.-based corporate sponsors of the 2022 Beijing Winter Olympics on Tuesday, including Coca-Cola, Visa Inc. and Airbnb, accusing them of putting profits ahead of accusations of genocide in China.
Republican Congressman Chris Smith told the Congressional-Executive Commission on China hearing that the sponsors needed to reconcile their âostensible commitment to human rightsâ with subsidizing an Olympics where the host country is âactively committing human rights abusesâ.
Smith asked each of the executives at the hearing â from Airbnb, Coca-Cola, Intel, Visa Inc and Procter & Gamble â whether the games should be relocated or postponed due to concerns over human rights violations. All of them declined to opine, or said they had no responsibility over site selection.
By Syndicated Content
Jul 27, 2021 | 3:45 PM
(Reuters) -Visa Inc reported a rise in quarterly profit on Tuesday as global vaccination drives gathered pace, fueling consumer spending and boosting volumes for the worldâs largest payment processor.
Payment companies are seeing an uptick in volumes from the coronavirus-induced slump as massive government stimulus and speedy vaccine rollouts fuel an economic recovery, unleashing pent-up demand for both goods and services.
Payment volumes at Visa jumped 34% on a constant dollar basis in the third quarter ended June 30 from a year earlier.
Net income rose to $2.58 billion, or $1.18 per Class A share, from $2.37 billion, or $1.07 per Class A share.
Earnings Results: Visa results boosted by strong spending in person, online and on travel
Visa Inc. beat estimates as it continued to see a bounce-back in face-to-face spending amid the economic recovery while e-commerce transactions driven by the pandemic remained strong, the company said Tuesday.
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