Tag: Financial Services

Goldman Sachs Plans More Job Cuts for Bottom Performers

Goldman Sachs  will cut staff it considers to be underperforming starting as soon as next month, the Financial Times reported, citing people familiar with the plans.

Goldman Sachs unloads another business acquired under CEO David Solomon

Goldman Sachs said Monday that it agreed to sell its personal financial management unit to a competitor named Creative Planning

NN Group 1H Operating Capital Generation EUR997M

NN Group reported a rise in its operating result for the first half of 2023 and said it remains on track to meet its financial targets for 2025.

UBS ends Credit Suisse’s government and central bank protections

UBS on Friday said that it has ended a 9 billion Swiss franc ($10.27 billion) loss protection agreement and a 100 billion Swiss franc publicly liquidity backstop that were put in place by the Swiss government when it took over rival Credit Suisse in March.

SocGen reaches settlement with U.S. regulators over messaging probe

Societe Generale, France’s third-biggest listed bank, has reached a settlement with U.S. securities regulators amid a probe over the use of messaging platforms, the lender said in its first half financial report released on Thursday.

Carlyle reports lower than expected 26% slump in Q2 earnings

Private equity firm Carlyle Group Inc (CG.O) reported on Wednesday that its second quarter distributable earnings fell 26% year-on-year due to a slump in asset sales, although the result still exceeded analyst expectations.

MIG: Καθαρά κέρδη 104 εκατ. ευρώ το 1ο εξάμηνο

Κομβική η θετική επίδραση από την πώληση της συμμετοχής στην ATTICA. Τα έσοδα ήταν 3,8 εκατ. ευρώ και τα EBITDA αρνητικά κατά 243 χιλιάδες ευρώ.

Robinhood rival eToro agrees $120 million share sale at discounted valuation

Stock trading platform eToro agreed to a $120 million secondary share sale, giving the company a slightly lower valuation than the $3.5 billion it was valued at in a primary funding round earlier this year.

Visa Beats on Earnings but Payments-Volume Growth Slows

A continued recovery in international travel—and spending—drove Visa to a better-than-expected quarter. The credit-card company’s earnings, disclosed Tuesday afternoon, beat Wall Street estimates but growth in payments volume slowed from recent quarters.


American Express Braces for Defaults. Record Revenue, Profit Can’t Stop a Stock Fall.

A fifth straight quarter of record revenue and an earnings beat hasn’t been enough to keep shares in American Express AXP –0.01% afloat on Friday. The card issuer has seen a slowdown in activity and continues to brace for debt struggles among customers.

Blackstone’s $1 Trillion Triumph Is Muted by Deal Slowdown

Blackstone Inc. has become the first private equity firm to manage $1 trillion, an accomplishment tempered by a dealmaking slump that weighed on second-quarter results.

Ally Financial 2Q Profit Slides on Flat Revenue

Ally Financial’s profit declined in the second quarter on flat revenue, but its adjusted earnings were higher than analysts had expected.

Wells Fargo shares rise after second-quarter results beat estimates

Wells Fargo topped Wall Street estimates on the top and bottom lines for the second quarter.

Fidelity National to Sell Majority Stake in Worldpay for $12 Billion

Fidelity National Information Services FIS +3.10% agreed to sell a majority stake in its payments-provider business Worldpay Group to private-equity firm GTCR. The transaction values Worldpay at an upfront valuation of $17.5 billion.

Berkshire Buys More Occidental Petroleum Stock, Upping Its Stake to 25%

Berkshire Hathaway bought 2.1 million shares of Occidental Petroleum OXY in recent days, lifting its stake in the big energy company to just over 25%, according to a filing late Wednesday.

PayPal Expects $5 Billion in Buybacks Following Deal With KKR

PayPal Holdings PYPL announced a deal in which KKR-managed funds and accounts will purchase up to €40 billion of buy now, pay later loan receivables originated in Europe, which should allow for the repurchase of more stock this year by the payments company.

Berkshire Raises Its Stakes in 5 Japanese Trading Firms to 8.5%.

Berkshire Hathaway has boosted its stakes in five Japanese trading companies to an average of 8.5% and Berkshire said it hopes to increase those interests to 9.9%.

$5 billion fintech Zepz looks to take on rivals like PayPal with digital wallet, M&A plans

Zepz, the owner of money transfer firms WorldRemit and Sendwave, is on the hunt for mergers and acquisitions after cutting 26% of its workforce last month, the company’s CEO told CNBC.

Time to Take Profits. Cathie Wood Sells Tesla, Nvidia Stocks.

After big stock rallies in shares of Tesla and Nvidia, Cathie Wood’s ARK Invest is taking some profits.

Cathie Wood’s ARK Buys the Coinbase Stock Dip

High-growth investor Cathie Wood is increasing her fund’s stake in Coinbase COIN after the crypto exchange was sued by the Securities and Exchange Commission this week.