Bank’s technical issue delays QT customer charges
Customers who used their QuikTrip debit cards for store purchases in late 2019 may not see those payments reflected until later this month.
“As the bank that processes transactions for QuikTrip, we didn’t charge some customers who used their debit card and a PIN from Nov. 1 through Dec. 18,” Chase Bank said in a statement. “The technical issue was fixed on Dec. 19, but we waited until after the holidays to process the old purchases. We expect affected customers to see each purchase post on their checking account by the end of January.”
Chase Bank spokesman Tom Kelly said Tuesday he didn’t know how many people were affected nationally or in Tulsa.
United Way awards $300,000 in grants to nonprofits
Five local nonprofits will share $300,000 in Social Innovation grants from the Tulsa Area United Way (TAUW).
The grants are given to 501(c)(3) organizations that present innovative plans to overcome challenges in the community. Proposals were presented in November at the TAUW’s annual pitch night.
“The grants allow organizations to incubate initiatives and bring new strategies to Tulsa and the surrounding area that work elsewhere and can potentially make a positive impact locally,” Brent Sadler, vice president of community investments at the Tulsa Area United Way, said in a statement.
Nonprofits receiving grants and launching their new programs in 2020 are: Fab Lab Tulsa; Growing Together; Family and Children’s Services; Tulsa Advocates for the Protection of Children and Met Cares.
Boeing airplane orders plunge to a 16-year low
CHICAGO — Boeing orders and deliveries of new jetliners plunged last year as the company struggled with the worldwide grounding of the 737 Max, which had been its best-selling plane.
Gross orders fell to their lowest mark in 16 years, and that tells only part of the story. Boeing reported more cancellations than new orders in 2019, in large part because a major order from India’s Jet Airways almost certainly vanished when the airline went bankrupt.
The Chicago company said Tuesday that it booked 246 gross orders, the lowest total since 2003, but after cancellations the number of net orders was just 54. And after subtracting other orders that are too doubtful to stay in Boeing’s backlog — the Jet Airways deal — the company suffered a net loss of 87 orders last year.
Deliveries also tumbled, falling 53% from 806 planes in 2018 to 380 last year. That left Boeing far behind European rival Airbus, with 863 deliveries, in the race for global supremacy in plane building.
Rising energy costs drive up consumer prices
WASHINGTON — Rising energy costs drove U.S. consumer prices higher in December, and American workers’ earnings couldn’t keep up.
The Labor Department said Tuesday that its consumer price index rose 0.2% last month, lifted by a 2.8% increase in gasoline prices. Over the past year, consumer inflation is up 2.3%. Excluding volatile food and energy prices, so-called core consumer inflation rose just 0.1% in December and 2.3% over the past year.
Inflation is running close to the Federal Reserve’s 2% annual target. The Fed cut short-term interest rates three times last year, partly to protect a record-breaking U.S. economic expansion from the effects of President Donald Trump’s trade war with China.
The Labor Department also reported that workers’ hourly earnings, adjusted for inflation, fell 0.1% in December after rising 0.1% in November. Over the past year, workers’ hourly earnings rose 0.6%. But they worked fewer hours, so inflation-adjusted weekly earnings showed “essentially no change’’ over the past year, the department said.