Category: Financial Services

October 26, 2021

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 […]

October 15, 2021

Walmart Inc. is building a new weapon in its war with Amazon.com 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 […]

October 12, 2021

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 […]

September 29, 2021

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 […]

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 […]

August 24, 2021

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 […]

August 4, 2021

BNPL providers are rushing to the U.S. market as brands and retailers build the option into shopping experiences. The domestic market is still seen as relatively new by international players, making it a frontier for potential growth. Just this week, […]

July 27, 2021

Global stock markets declined Tuesday as investors looked ahead to a Federal Reserve report for an update on when U.S. stimulus might start winding down. London and Frankfurt opened lower while Shanghai and Hong Kong declined. Tokyo advanced. On Monday, […]

July 23, 2021

American Express Co. (AXP) – Get Report posted stronger-than-expected second quarter earnings Friday thanks to a post-pandemic boom in consumer spending and the release of loan loss reserves. American Express said diluted earnings for the three months ending in June […]

July 9, 2021

The six biggest U.S. banks, including JPMorgan Chase (JPM) – Get Report and Wells Fargo (WFC) – Get Report, are scheduled to report second-quarter earnings next month, and the results aren’t expected to be pretty. The six behemoths will produce […]

June 23, 2021

The closures will take place between September and November and add to 56 already shut earlier this year, taking the total to 100. Lloyds said the latest announcement included 29 Lloyds Bank branches and 15 Halifax sites. Vim Maru, the […]

June 21, 2021

PayPal is set to raise fees for some of its most widely-used products, including digitial payments and Venmo, as it looks to bring them in line with other e-commerce products and services around today. The changes will mean that US […]

June 17, 2021

The move comes ahead of the expected UK launch of JP Morgan’s new digital bank, Chase, later this year. It follows the launch in Britain by Goldman Sachs, three years ago, of its digital savings bank Marcus. This proved so […]

June 7, 2021

Visa shares rose Monday as the credit-card giant announced a deal with Goldman Sachs GS that will allow the banking titan’s corporate customers to use Visa to make global payments. “Through its implementation of Visa B2B Connect and Visa Direct […]

May 18, 2021

Bank of America (BAC) – Get Report said Tuesday that it was raising its minimum wage to $25 an hour, joining the raft of major companies that have recently boosted their starting pay. The Charlotte financial-services giant in March 2020 […]

May 17, 2021

A spate of payments industry acquisitions continued last week with fintech Stripe saying Friday that it had acquired online fraud prevention company Bouncer, and the disclosure Thursday that payments giant PayPal snapped up returns processor Happy Returns. Those acquisitions follow […]

April 26, 2021

New York Community Bancorp (NYCB) – Get Report agreed to acquire Flagstar Bancorp (FBC) – Get Report for about $2.54 billion of stock, the companies said. The deal creates a company with more than $87 billion in assets. It’ll operate […]

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 […]