Category: Financial Services

Financial Services, Industries

US Bank Profits Slip 1.2% in Q3

November 30, 2021

Via: Equities News

U.S. bank profits fell 1.2% in the third quarter of 2021 to $69.5 billion as firms were slower to shrink their credit loss provisions and grappled with low interest rates, the Federal Deposit Insurance Corporation reported Tuesday. Bank profits are […]

Financial Services, Industries, News

Biden’s pick for Fed chair is finely balanced as removing Powell could spark Senate battle

November 19, 2021

Via: Sky News

In practice, the incumbent, Jerome Powell, has probably not felt that during his term in office. Having been appointed by Donald Trump four years ago, Mr Powell had to endure constant sniping from the former president for his stewardship of […]

Financial Services, Industries

SoftBank Returns to Familiar Strategy After Portfolio Losses

November 8, 2021

Via: Time

Masayoshi Son said his SoftBank Group Corp. will buy back as much as 1 trillion yen ($8.8 billion) of its stock after a decline in the value of its portfolio companies led to a record loss in its Vision Fund […]

Financial Services, Industries

Lloyds beats expectations with third quarter profit

October 28, 2021

Via: Sky News

The bank – Britain’s largest mortgage lender – reported a profit before tax of £5.9bn for the first nine months of the financial year. Like its rivals Barclays and HSBC, Lloyds had its results boosted by the release of cash […]

Financial Services, Industries

UBS Q3 Profit Rises, Plans Buyback; Stock Up

October 26, 2021

Via: Markets Insider

Shares of UBS Group AG were gaining around 2 percent in Swiss trading after the banking major reported Tuesday higher profit in its third quarter with growth in net interest income. Further, the company said it intends to repurchase up […]

Financial Services, Industries, Retail & Wholesale

Walmart, With Eyes on Amazon, Tries to Build a Fintech Startup

October 15, 2021

Via: The Wall Street Journal

Walmart Inc. is building a new weapon in its war with Inc. : a fintech startup. The retail giant is helping launch a new company, helmed by two former Goldman Sachs Group Inc. executives, that aims to provide financial […]

Financial Services, Industries

Banking Profits Season: Time For A Change

October 12, 2021

Via: Seeking Alpha

This is the week that the big banks begin to release their earnings for the third quarter of the year. Although profits will show relatively well, there seems to be an undercurrent in expected earnings that point to the future […]

Financial Services, Industries

Former Robinhood Employees Launch Parafin, a Finance Startup for Small Business

September 29, 2021

Via: The Wall Street Journal

Several former employees of stock-trading platform Robinhood Markets Inc. are building a new fintech startup for small businesses. San Francisco-based Parafin Inc., which is also backed by some of Robinhood’s early venture investors, is reaching small businesses via partners to […]

Financial Services, Industries

Exclusive-Western Union resuming services to Afghanistan – senior exec

September 2, 2021


Western Union Co is resuming money-transfer services to Afghanistan, a senior executive told Reuters on Thursday, a decision he said was in line with a U.S. push to allow humanitarian activity to continue after the Taliban’s takeover. The world’s largest […]

Financial Services, Industries

What is open banking? Nearly half of Americans don’t know

August 24, 2021

Via: TechRadar

Despite the fact that open banking allows both consumers and SMBs to have more financial freedom, new research from the API management company Axway has revealed that half of Americans have never heard of the term. For those unfamiliar, open […]