Tag: Financial Services

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

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

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 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 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 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%.

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.

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

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.

Berkshire Hathaway owns just under 25% of Occidental Petroleum after buying about $275 million of stock in the big energy company during recent days, according to a regulatory filing late Tuesday.