Business News: Facebook testing mobile payment system

Business News

(CBS) - In Business News, Facebook wants to give PayPal a run for its money.

In its push to be more mobile-friendly, Facebook is testing a new product that would let you make purchases on your mobile device. Credit card information already stored on your Facebook account would be used.

The company says it would allow users to buy things using a mobile App without the challenge of inputting payment details on a small hand-held device.

(CBS) - A bankruptcy judge has delayed approving a reorganization plan for American Airlines.

Approval would have been the last hurdle for American Airlines to clear, and to emerge from bankruptcy.

It also would have allowed the airline to merge with US Airways, but in a surprise move on Tuesday, the Justice Department sued to stop the deal, saying it would hurt competition and drive air fares higher. 

(CBS) - Some good news on the employment front.

The Labor Department said on Thursday the number of Americans applying for unemployment benefits dropped by 15,000 last week to a seasonably adjusted 320,000.

That's the smallest number in almost six years.

However, hiring remains sluggish, which is resulting in modest job growth.


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