FinancialsLive Wire · AI-collected
S&P Downgrades Icahn Enterprises Rating on Investment Losses
- S&P downgraded Icahn Enterprises' rating on investment losses, according to Investing.com.
Published Aug 27Source: Investing.com ↗
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FinancialsLive Wire · AI-collected
Trump Family's New Crypto Bank Is Backed by Abu Dhabi Sheikh
- The Trump family's new crypto bank is backed by an Abu Dhabi sheikh, according to WSJ.
- The Emirati investor backs a 49% stake in the entity behind the new World Liberty bank, per the report.
Published Aug 27Source: WSJ ↗
FinancialsLive Wire · AI-collected
Court Approves Bank of America's $72.5 Million Settlement With Epstein Accusers
- A court approved Bank of America's $72.5 million settlement with Epstein accusers, according to Investing.com.
Published Aug 27Source: Investing.com ↗
FinancialsLive Wire · AI-collected
TD Bank Earnings Lifted by Growth in Canada, Capital Markets Activity
- Toronto-Dominion Bank's earnings were up sharply in the latest quarter, according to WSJ.
- The big lender continued to see strong growth in its Canadian banking and capital markets businesses, while also setting aside less money for soured loans.
Published Aug 27Source: WSJ ↗
FinancialsLive Wire · AI-collected
Kalshi and the Weather Co. Join Forces on Climate Trades
- Trading platform Kalshi and the Weather Co. joined forces on climate trades, according to WSJ.
- Kalshi is getting input from experts that operate a leading weather app to verify increasingly popular climate-prediction markets.
Published Aug 27Source: WSJ ↗
FinancialsLive Wire · AI-collected
Royal Bank of Canada Notches Record Income
- Royal Bank of Canada notched record income, according to WSJ.
- Royal Bank said third-quarter income rose to 6.02 billion Canadian dollars, or C$4.23 a share, from C$5.41 billion, or C$3.75 a share, a year earlier.
Published Aug 27Source: WSJ ↗
FinancialsLive Wire · AI-collected
Banks Fought Against Stablecoins. Now They Are Considering Launching Their Own.
- Banks that fought against stablecoins are now considering launching their own, according to WSJ.
- Bank executives are on the defensive as companies outside of the banking system launch coins.
Published Aug 26Source: WSJ ↗
FinancialsLive Wire · AI-collected
Vanguard Buys Wealth Management Platform Altruist in $4 Billion Deal
- Vanguard is buying wealth management platform Altruist in a $4 billion deal, according to WSJ.
- The world's second-biggest investment firm is making a bigger push into financial advice.
Published Aug 26Source: WSJ ↗
FinancialsLive Wire · AI-collected
Victory Capital to Buy First Eagle for $7 Billion
- Victory Capital Holdings agreed to acquire First Eagle Investments for about $7 billion, according to WSJ.
- The companies said the deal will create one of the largest publicly traded traditional asset managers in the U.S., with roughly $571 billion in total client assets.
Published Aug 26Source: WSJ ↗
FinancialsLive Wire · AI-collected
Mark Walter's Troubles Are Disrupting the Insurance World's Hottest Trade
- Mark Walter's troubles are disrupting the insurance world's hottest trade, according to WSJ.
- Investors are questioning a $4.1 billion takeover of Brighthouse Financial because of some parallels to Walter.
Published Aug 26Source: WSJ ↗
FinancialsLive Wire · AI-collected
Regulators Probing Near-Collapse of Hedge Fund Situational Awareness
- Regulators are probing the near-collapse of hedge fund Situational Awareness, according to WSJ.
- The SEC has sought information from banks that provided financing to supercharge the hedge fund's AI-centric bets.
Published Aug 25Source: WSJ ↗
FinancialsLive Wire · AI-collected
Scotiabank Earnings Lifted by Record Result in Wealth Management
- Bank of Nova Scotia (Scotiabank) posted a rise in third-quarter earnings, according to WSJ.
- The gain was driven by strong results across its business lines, including a record result from its global wealth management and global banking and markets operations.
Published Aug 25Source: WSJ ↗
FinancialsLive Wire · AI-collected
Bank of Montreal Plans to Buy Back Shares After Earnings Hit by Charge
- Bank of Montreal plans to launch a share-buyback program, according to WSJ.
- The plan follows improved results from its operations in the latest quarter, despite the results being hit by a charge from the sale of assets.
Published Aug 25Source: WSJ ↗
FinancialsLive Wire · AI-collected
Visa and Mastercard Stocks Hit Fresh Records, Underscoring a Resilient U.S. Consumer
- Visa and Mastercard stocks hit fresh records, underscoring a resilient U.S. consumer, according to MarketWatch.
- Aggregate spending has been strong, even as American shoppers are getting choosier about what they buy.
Published Aug 24Source: MarketWatch ↗
FinancialsLive Wire · AI-collected
Canada's Big Banks Expected to Log Another Strong Quarter While Valuations Stretched
- Canada's biggest banks face a high bar ahead of their latest quarterly earnings readouts, according to WSJ.
- Recent strong trends have stretched market valuations for the sector heading into the results.
Published Aug 24Source: WSJ ↗
FinancialsLive Wire · AI-collected
Fannie Mae Hit by Turmoil in Senior Ranks as at Least 10 Executives Depart
- Fannie Mae was hit by turmoil in its senior ranks as at least 10 executives departed, according to The Wall Street Journal.
- The departures are raising concerns about stability inside the government mortgage giant.
Published Aug 21Source: WSJ ↗
FinancialsLive Wire · AI-collected
Monte dei Paschi Makes $40 Billion Move to Buy Italian Peers Banco BPM, Banca Generali
- Banca Monte dei Paschi di Siena said it is launching all-share bids for Italian peers Banco BPM and Banca Generali with a total value of $39.73 billion, according to The Wall Street Journal.
Published Aug 21Source: WSJ ↗
FinancialsLive Wire · AI-collected
D.E. Shaw Owns More Than $1 Billion Stake in Sysco, Sources Say
- Hedge fund D.E. Shaw owns a stake worth more than $1 billion in food-distribution company Sysco, according to sources cited by Investing.com.
Published Aug 20Source: Investing.com ↗
FinancialsLive Wire · AI-collected
Standard Life Agrees $2.72bn PRT Partnership With Investor Consortium
- Standard Life agreed to a partnership with a consortium of investors — including CVC Capital Partners, Prudential Financial, Goldman Sachs and MS&AD Insurance Group — to expand its pension risk transfer (PRT) business, with a combined initial capital commitment of up to $2.72 billion, according to Yahoo Finance.
- Of the total £2 billion commitment, £500 million will be provided by Standard Life itself, funded through yearly excess cash generation, with completion expected in the first half of 2027.
Published Aug 20Source: Yahoo Finance ↗
FinancialsLive Wire · AI-collected
Crypto Stocks Continue Surge Premarket After Upbeat White House Meeting
- U.S. stocks linked to cryptocurrencies extended their rally premarket as investors reacted to President Trump's reaffirmed support for crypto-friendly legislation, according to the Wall Street Journal.
Published Aug 20Source: WSJ ↗
FinancialsLive Wire · AI-collected
Citi, HSBC, StanChart Adopt Ant International's Forex AI Tool
- Citi, HSBC and Standard Chartered adopted Ant International's forex AI tool, according to Investing.com.
Published Aug 20Source: Investing.com ↗
FinancialsLive Wire · AI-collected
Buy-Now Pay-Later Firm Zip Co Clocks Record FY Profit, Sees 26% Earnings Growth
- Buy-now pay-later firm Zip Co posted a record full-year profit and forecast 26% earnings growth, according to Investing.com.
Published Aug 20Source: Investing.com ↗
FinancialsLive Wire · AI-collected
US Appeals Court Upholds Big Real Estate Settlement Despite Class Members' Objections
- A U.S. appeals court upheld a major real estate industry class-action settlement despite objections from some class members, according to Investing.com.
Published Aug 19Source: Investing.com ↗
FinancialsLive Wire · AI-collected
US Appeals Court Revives Signature Bank Collapse Lawsuit
- The 2nd U.S. Circuit Court of Appeals revived an investor lawsuit over the 2023 collapse of Signature Bank in a 3-0 vote, rejecting the FDIC's argument that its receivership stripped shareholders of the right to sue, according to Reuters.
- The suit, led by Swedish pension fund Sjunde AP-Fonden, accuses former Signature executives, directors and auditor KPMG of misrepresenting the bank's liquidity risks and inflating its share price.
Published Aug 19Source: Yahoo Finance ↗