GRE Business Report: December 11th

- Banking giant JPMorgan Chase has patented a digital payment system that could rival Bitcoin. The proposed system includes virtual wallets and the ability to make anonymous electronic payments over the Internet. It would also eliminate having to fill out forms with personal information while shopping online. The patent applications, filed earlier this year does not mention Bitcoin. It does, however, say what led to its development- the modern financial system is outdated. 

Soda sales are losing their fizz. Spending on soft drinks dropped more than three percent over the last year according to Nielsen. The drop in diet drinks was higher, toppping seven percent. Health conscious consumers are cutting back on sodas, especially diet sodas flavored with artificial sweeteners. Industry watchers say the trend started 10 years ago but has intensified over the last five years. To offset sinking sales, soft drink makers are now offering their own brands of water. 

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