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Report: Apple eyeing PayPal turf
Apple Inc. may be planning an entry into the fledging industry of mobile person-to-person payment.
According to the Wall Street Journal, Apple is in discussions with several banks to develop a service that would let consumers make mobile payments to each other, rather than use cash or personal checks. The service would be in direct competition with the Venmo mobile payment platform from PayPal, which is popular among millennial consumers.
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Advance Auto CEO to retire as growth slows down
Advance Auto Parts announced its CEO is stepping down as the retailer also reported a decline in third quarter profit and nearly flat same-store sales.
The auto parts retailer reported that for the third quarter ended Oct. 10, same-store sales increased .5%. Profit declined 1.4% to $120.5 million, or $1.63 per share. Revenue ticked up slightly to $2.3 billion.

