Global Glance: Mastercard faces lawsuit over fees; EU finance ministers consider withholding Greece aid

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Here are today’s top business headlines from across the nation and world:

Mastercard faces $18.6 billion UK lawsuit over fees

LONDON (AP) — MasterCard is being sued for 14 billion pounds ($18.6 billion) in Britain for allegedly charging excessive fees on millions of transactions over a 16-year period. Law firm Quinn Emanuel filed the suit Thursday at the Competition Appeal Tribunal for Walter Merricks, a former U.K. financial services ombudsman. The firm says the claim is the biggest in British legal history and could bring a payout to 46 million British users of MasterCard credit and debit cards. Read more

EU finance ministers to consider withholding Greece aid

BRATISLAVA, Slovakia (AP) — EU finance ministers discussed Friday whether to withhold bailout aid to Greece once again amid signs that the country is falling short of its commitments to reform its economy. Greece is struggling to keep up the pace of economic measures demanded by creditors in exchange for continued loan payouts, and is hoping to start talks by the end of the year for more lenient debt repayment terms. Read more

Sandwich chain Jimmy John’s sells majority stake to Roark

NEW YORK (AP) — Sandwich chain Jimmy John’s Sandwiches says it sold a majority stake in the company to private equity firm Roark Capital Group. Financial terms of the deal were not disclosed. Roark Capital of Atlanta has invested in several fast food companies before, including pretzel seller Auntie Anne’s and sandwich restaurant chain Arby’s. Read more

Key ruling on Dakota Access Pipeline due by end of Friday

BISMARCK, N.D. (AP) — A federal judge is set to deliver a key ruling on the four-state Dakota Access Pipeline that has drawn thousands of protesters to a construction site in North Dakota in recent weeks. U.S. District Judge James Boasberg says he’ll rule by the end of Friday on the Standing Rock Sioux tribe’s request to block the $3.8 billion project, which will carry oil from North Dakota to Illinois. The tribe argues the project threatens water supplies and has already disrupted sacred sites. The developer, Dallas-based Energy Transfer Partners, says modern technology allows quick detection of leaks. Read more

Consumer borrowing grows by $17.7 billion in July

WASHINGTON (AP) — American consumers increased their borrowing in July, though the category that includes credit cards grew at the slowest pace since February. The Federal Reserve said Thursday that consumer borrowing rose by $17.7 billion in July, up from a $14.5 billion increase in June. Consumer spending accounts for about 70 percent of U.S. economic activity and was one of the few sources of strength in the first quarter, growing at a 4.4 percent annual pace while the overall economy expanded just 1.1 percent. Read more

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