Apple (AAPL) is reportedly telling JPMorgan Chase (JPM) that it's the preferred choice to replace Goldman Sachs (GS) as its credit card partner, according to a media report on Tuesday.

JPMorgan (JPM) is reportedly in advanced talks with Apple (AAPL) to take over the tech giant’s credit-card program. According to a report by The Wall Street Journal, the discussions have gained pace in recent months,

JPMorgan Chase, already the largest credit card issuer in the U.S., is nearing a deal to take over the Apple Card portfolio from Goldman Sachs, people familiar with the matter told CNBC. The banks declined to comment to CNBC.

Apple ($AAPL) is shutting down one of its retail stores in Dalian, China, marking its first closure of a directly managed store on the mainland.

The move speaks to slowing spending by consumers and Apple’s continuing struggles in China, its second-largest market.

Apple (AAPL) closes a retail store in China, reflecting market challenges. Learn about its shifting strategies amid a 2.3% drop in China's Q2 sales.