Tag: Financial Services

British fintech Revolut’s revenue rose 45% to a record 923 million pounds ($1.1 billion) in 2022, but net profit tumbled to 6 million pounds, down from 26 million pounds the year before, the company said in delayed annual accounts on Friday.

Berkshire Hathaway bought more Occidental Petroleum stock in recent days, purchasing 5.2 million shares and bringing its total ownership to 243.7 million shares, for a 27.7% stake in the big energy company, according to a form 4 filing with the Securities and Exchange Commission late Thursday.

Mastercard stock was rising after the company announced a dividend increase and a new buyback program

LONDON, Dec 5 (Reuters) – Barclays shares fell in early trading on Tuesday after one of the bank’s largest shareholders Qatar Holding moved to sell around 510 million pounds ($644 million) of its stock, cutting back on its crisis-era investment in the bank.

Shares in Worldline surged almost 12% on Friday after a media report said Credit Agricole was considering acquiring a stake in the French payment processing company.

Charlie Munger, the outspoken business partner and sounding board of Berkshire Hathaway CEO Warren Buffett for more than 50 years, died at age 99 in Los Angeles, about a month before he would have turned 100 on Jan. 1, 2024.

HONG KONG, Nov 20 (Reuters) – HSBC is on track to meet a target of expanding its China wealth business headcount to 3,000 by 2025, despite the country’s current economic headwinds, as it bets on a steadily rising number of the extremely affluent, a senior executive said.

MUMBAI, Nov 9 (Reuters) – HSBC aims to further expand personal banking in India to serve the country’s fast-growing pool of high-earning professionals, after the launch there in July of its private bank, its India CEO said on Thursday.

UBS confirmed to CNBC that it is offering additional tier 1 securities, but did not comment on the details of the contracts and said it will provide additional information when the offering is complete.

The bank recorded an underlying operating profit before tax of $844 million, well ahead of consensus expectations.

Brookfield Asset Management has raised $61 billion in capital this year, including $26 billion in the latest quarter, as it tracks toward its target of close to $150 billion.

The Omaha-based conglomerate’s operating earnings totaled $10.761 billion last quarter, 40.6% higher than the number from the same quarter a year ago.

Cryptocurrency exchange Coinbase on Thursday beat estimates for third-quarter revenue, but saw trading volumes decline for the second quarter in a row, sending shares of the company down in after-hours trading.

Shares of fintech firm Block surged as much as 19% in after-hours trading Thursday, after the company reported third-quarter earnings that beat analyst estimates on the top and bottom line and showed strong growth in both Cash App and Square revenue.

PayPal Holdings was set to add $4 billion to its market value as a pledge to turn “leaner” cheered up investors, even as the payments giant disclosed a subpoena from the U.S. Securities and Exchange Commission tied to its stablecoin.

Visa narrowly topped earnings estimates for its most recent quarter, driven by a continued postpandemic rebound in international travel.

MADRID, Oct 25 (Reuters) – Spanish bank Santander beat forecasts on Wednesday with a 20% rise in third quarter net profit as a strong performance in Europe offset weaker trade in the United States and higher provisions.

Oct 25 (Reuters) – Ratings agency Moody’s reported higher-than-expected profit in the third quarter on Wednesday, helped by strong demand for its research and analytics.

Oct 20 (Reuters) – Credit card giant American Express (AXP.N) on Friday reported third-quarter profit that beat expectations, helped by resilient spending from its wealthy customers who shrugged off concerns about an economic downturn.

Goldman Sachs posted third-quarter profit and revenue Tuesday that exceeded analysts’ estimates on stronger-than-expected trading revenue.