(WISH) – Gas stations are getting more time to convert to safer chip credit cards, and Eli Lilly will cut sales jobs in 2017.
Credit card companies are giving gas stations more time to install chip technology.
The Wall Street Journal said Visa and Mastercard each announced they are giving gas stations three extra years to install equipment that accepts the new generation of chip-embedded credit and debi cards meant to reduce fraud.
The delay comes even as gas stations are trying to control credit card fraud and skimming, when someone steals your credit card number when its swiped at the machine.
In other business headlines, Eli Lilly will begin cutting sales jobs early next year.
The company confirmed on Friday that it will begin reducing the sales staff for its U.S. bio-medicines business, which would have been responsible for selling a once-promising Alzheimer’s drug called Sola.
The company didn’t specify how many jobs will be cut.
Sola recently failed a clinical trial.
For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.