Barclays beats profit estimates and ups shareholder payments as equities, investment banking surge

Barclays and HSBC buildings are seen amid the outbreak of the coronavirus disease (COVID-19), in London, Britain October 20, 2020. Matthew Childs | Reuters LONDON — Barclays beat second-quarter profit expectations on Wednesday and boosted returns to shareholders, with its investment banking and equities businesses posting record incomes. The British lender posted a quarterly attributable … Read more

Morgan Stanley beat earnings estimates as stock trading, investment banking top expectations

James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, May 30, 2019. Giulia Marchi | Bloomberg | Getty Images Morgan Stanley posted second-quarter profit and revenue that exceeded analysts’ expectations on strength in equities trading and investment banking. Here’s how the bank did: Earnings: $1.85 … Read more

Digital bank Revolut valued at $33 billion in funding round led by SoftBank and Tiger Global

Nikolay Storonsky, founder and CEO of Revolut, on stage at the 2019 Web Summit technology conference in Lisbon, Portugal. Harry Murphy | Sportsfile for Web Summit via Getty Images LONDON — British fintech firm Revolut said Thursday it had raised $800 million in a new funding round led by SoftBank and Tiger Global. Revolut, which … Read more

Goldman CEO David Solomon says China’s crackdown on tech companies will delay many U.S. listings

David Solomon, chief executive officer of Goldman Sachs & Co., speaks during a Bloomberg Television interview at the Milken Institute Global Conference in Beverly Hills, California, U.S., on Monday, April 29, 2019. Patrick T. Fallon | Bloomberg | Getty Images Goldman Sachs CEO David Solomon said that China’s recent moves boosting oversight of its technology … Read more

Affirm shares fall on report Apple is working with Goldman Sachs to offer buy now, pay later service

Apple CEO Tim Cook attends the Allen & Company Sun Valley Conference on July 08, 2021 in Sun Valley, Idaho. Kevin Dietsch | Getty Images Shares of Affirm, a company that offers lending services for retailers, dropped as much as 16% on Tuesday after Bloomberg reported Apple plans to offer a competing “buy now pay … Read more

Company card start-up Pleo valued at $1.7 billion, becoming Europe’s latest fintech unicorn

The Pleo app pictured on a smartphone next to one of the fintech firm’s corporate cards. Pleo LONDON — There’s a new fintech unicorn in town. Danish start-up Pleo, which sells corporate expense management software and linked “smart” payment cards, has boosted its valuation to $1.7 billion in a $150 million equity financing round. The … Read more

Wall Street banks racked up $650 million in fees and stock gains in the busiest IPO week since 2004

Traders work during the IPO for Chinese ride-hailing company Didi Global Inc on the New York Stock Exchange (NYSE) floor in New York City, U.S., June 30, 2021. Brendan McDermid | Reuters From Krispy Kreme to China’s Didi Chuxing, the busiest week for U.S. IPOs in 17 years produced a windfall for Wall Street’s top … Read more

Corporate buybacks gain steam with banks poised to boost buying

High stock price valuations may be giving some investors pause, but it hasn’t stopped U.S. corporations from plowing even more cash into their shares. Morgan Stanley and Wells Fargo Inc. are among the nation’s biggest lenders that signaled this week they’re stepping up repurchases and raising dividends after passing Federal Reserve stress tests with flying … Read more

Morgan Stanley doubles its dividend as most banks raise payouts following Fed stress tests

James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, May 30, 2019. Giulia Marchi | Bloomberg | Getty Images (This is a breaking story. Check back for updates.) Morgan Stanley, the Wall Street powerhouse, doubled its quarterly dividend and announced a new $12 billion stock … Read more