LOS ANGELES - (04/15/05) -- uWink Inc. said it will beginmarketing a touch-screen entry system that will allow diners toorder and pay for their food at restaurants without using ash. TheuWink Ordering System will allow customers to use their ATM orcredit card cards to place their orders via touch-screen terminals,reducing errors and speeding the order process, and providing acashless ordering system. Diners will no longer have to wait for awaiter to bring them their menus or for their orders to be taken.The cashless system will allow restaurant owners and managers toreview orders, inventory, revenue and staffing over the Internet inreal-time. The system will also facilitate the establishment ofloyalty programs for frequent diners through the use of 'clubcards,' allowing diners to enter their preferences for seating,menus and drinks, which are then tracked by the uWink OrderingSystem.
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The Federal Reserve authorized a bid by Morgan Stanley to incorporate its German investment bank under its U.S. bank subsidiary. Three Biden nominees on the Fed board dissented, citing concerns that the move could heighten risks for the U.S.-based investment banking giant.
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In three separate appearances Thursday, Fed Gov. Lisa Cook, Gov. Michael Barr and Vice Chair Philip Jefferson said they are worried that U.S. involvement in the war with Iran could drive up inflation, leading them to conclude that interest rates should remain steady in the near term.
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Federal Reserve Gov. Stephen Miran on Thursday detailed a plan to reduce the central bank's balance sheet, saying a smaller footprint would reinforce policy boundaries but could also bring more market volatility.
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The Canadian bank laid out its rationale Thursday for opening new branches in California. The objective is to increase density in the Golden State, and subsequently achieve greater market share and higher returns.
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The legislation would grant the Consumer Financial Protection Bureau, among other agencies, more oversight of airline-branded credit cards and rewards schemes.
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PayPal, Stripe, Visa and Mastercard must be vigilant against offboarding clients for political or religious reasons, the Federal Trade Commission warned Thursday.
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