Category: Financial Services

April 16, 2021

Morgan Stanley reported Friday that first-quarter profit and revenue beat expectations on stronger-than-expected trading and investment banking results. The bank posted profit of $4.1 billion, or $2.19 a share, more than double the $1.7 billion earnings of the year-earlier period. […]

April 15, 2021

Bank of America reported Thursday profit that topped Wall Street estimates on booming investment banking and trading results, as well as the release of loan-loss reserves as fewer consumers were expected to default on debts. The bank posted a first-quarter […]

April 14, 2021

Goldman Sachs on Wednesday blew past analysts’ expectations with record first-quarter net profits and revenues on strong performance from the firm’s investment banking and trading businesses. The bank posted per-share earnings of $18.60, crushing the $10.22 estimate of analysts surveyed […]

April 9, 2021

BEIJING — As U.S.-China tensions continue to simmer under a new administration, risks for American investors with exposure to China are only going to rise, according to a report from Cowen. “We believe President Biden represents a greater risk for […]

April 8, 2021

Eastern Bankshares EBC, the Boston bank-holding company that went public in October, agreed to pay $115.28 a share cash, or $642 million, for Century Bancorp. The accord boosted the shares of Century Bancorp, Medford, Mass. At last check they were […]

March 31, 2021

It revealed that gross payouts linked to COVID-19 disruption were expected to have topped £6.2bn for the year as a whole – almost a record for a single event and on a par with the cost from the 9-11 terror […]

March 30, 2021

Crypto network Ripple Labs said on Tuesday it will acquire a 40% stake in cross-border payment hub Tranglo in an effort to strengthen its market presence in the Asia-Pacific region. Tranglo’s infrastructure will support existing payment corridors, as well as […]

March 24, 2021

Bank of New York Mellon (BK) – Get Report shares rose Wednesday after the custody bank titan was double-upgraded at Bank of America Securities, to buy from underperform, with a price-target increase to $50 from $43. “Despite the near-term low-short-term […]

March 19, 2021

Visa shares dropped sharply in midday trading Friday after a report said the Justice Department has opened an investigation into its debit card business and possible anticompetitive practices. The department’s antitrust division has started to collect information on whether Visa, […]

March 2, 2021

Square (SQ) – Get Report shares rose Tuesday as the company said that its industrial bank, Square Financial Services, has begun operations. The San Francisco company’s bank opening continues its diversification from strictly payment processing to broader financial services. Square […]