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May 23, 2022

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Lending firm Upstart’s dismal revenue view drags sector lower

Reuters
May 10 (Reuters) – Shares of Upstart Holdings (UPST.O) plunged nearly 60% on Tuesday after the AI-driven lending platform cut its full-year revenue forecast, anticipating falling demand for loans amid rising interest rates in the United States. The fintech company’s stock was on track to erase most of its gains......

Australia’s Westpac profit drops 12%, falling costs provide reprieve

Reuters
A woman exits the ground floor of an office building with Westpac logo amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. Picture taken June 3, 2020. REUTERS/Loren Elliott Register now for FREE unlimited access to Reuters.com Register May......

Analysis: Banks face reversal of fortune from war and runaway inflation

Reuters
New era of rising rates renews focus on lending risks Policymakers run recession gauntlet to curb inflation War, geopolitics threaten long-lasting economic pain LONDON/BERLIN, May 6 (Reuters) – Global banks are taking steps to weather the wider impact of war and runaway inflation as the stream of central bank money......

U.S. banking regulators propose update to fair lending rules

Reuters
WASHINGTON, May 5 (Reuters) – A trio of U.S. banking regulators unveiled Thursday a renewed attempt to update fair lending rules for banks, with an eye toward modernizing the rules to reflect the rise of online banking while clarifying requirements for the industry. The proposed update to rules enforcing the......

SocGen boosts first-quarter income but costs of Ukraine war rise

Reuters
The logo of French bank Societe Generale is seen outside a bank office in Nantes, France, February 4, 2022. REUTERS/Stephane Mahe/Files Register now for FREE unlimited access to Reuters.com Register PARIS, May 5 (Reuters) – French lender Societe Generale (SOGN.PA) beat first-quarter earnings expectations on Thursday but booked higher provisions......

NAB boosts dividend after in-line profit, warns on costs

Reuters
The logo of the National Australia Bank is displayed in central Sydney, Australia, August 4, 2017. REUTERS/David Gray Register now for FREE unlimited access to Reuters.com Register H1 cash profit rises 4.1% AUSTRAC settlement to cost A$80-120 mln/year RBA rate hikes to be moderately positive to H2 margins May 5......

UK consumer borrowing surge hints at cost-of-living crunch

Reuters
UK consumer borrowing rises by 1.3 bln stg in March Marks strongest two months for lending since 2019 Borrowing could sign of cost-of-living squeeze Scant sign better-off households spending savings LONDON, May 4 (Reuters) – British consumers increased borrowing by the most in three years over February and March, according......

Australia’s ANZ sees improved margins on rising rates, cash profit grows

Reuters
The logo of the ANZ Banking Group is displayed in the window of a branch in central Sydney, Australia, Aprl 30, 2016. REUTERS/David Gray Register now for FREE unlimited access to Reuters.com Register H1 cash profit rises 4.1% Says on track to grow in line with peers by FY-end Grows......

Berkshire shareholders vote to keep Buffett as chairman, reject climate disclosures

Reuters
OMAHA, Neb., April 30 (Reuters) – Berkshire Hathaway Inc (BRKa.N) shareholders on Saturday rejected proposals to have an independent chair replace Warren Buffett, and require his company to disclose more about its climate-related risks and efforts to improve diversity. Shareholders supported letting Buffett keep both the chairman and chief executive......

Visa allays slowdown fears as strong consumer spending lifts quarter

Reuters
A credit card is seen in front of a displayed Visa logo in this illustration taken July 15, 2021. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Sees revenue growth above pre-COVID levels Shares gain 5% in after-market trading April 26 (Reuters) – Visa Inc (V.N) said......

Turkish cenbank revises reserve requirement regulations

Reuters
A money changer counts Turkish lira bills at an currency exchange office in central Istanbul, Turkey, August 21, 2015. REUTERS/Murad Sezer/File Photo Register now for FREE unlimited access to Reuters.com Register ISTANBUL, April 23 (Reuters) – The Turkish Central Bank said on Saturday it revised regulations on banks’ reserve requirements,......

CalPERS to vote to replace Buffett as Berkshire chairman

Reuters
April 19 (Reuters) – CalPERS, the largest U.S. public pension fund, on Tuesday said it will vote for a shareholder proposal that Berkshire Hathaway Inc (BRKa.N) replace Warren Buffett as chairman, though he would remain chief executive officer. The fund, whose full name is the California Public Employees’ Retirement System,......

U.S. single-family homebuilding; permits plunge in March

Reuters
A carpenter works on new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, U.S., May 5, 2021. REUTERS/Octavio Jones/File Photo Register now for FREE unlimited access to Reuters.com Register Single-family housing starts drop 1.7% in March Multi-family accounts for 0.3% rise......

Indian shares flat as tech offsets gains in energy, metal stocks

Reuters
A security guard walks past the logo of the National Stock Exchange (NSE) inside its building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register BENGALURU, April 19 (Reuters) – Indian shares gave up early gains to trade flat on Tuesday, as......

JPMorgan profit misses estimates as Ukraine crisis stalls dealmaking

Reuters
A J.P. Morgan logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo Register now for FREE unlimited access to Reuters.com Register April 13 (Reuters) – JPMorgan Chase & Co (JPM.N) reported a lower-than-expected quarterly profit on Wednesday as dealmaking slowed and the lender started building......

Indian shares fall on metal stocks; inflation data in focus

Reuters
A security guard walks past the logo of the National Stock Exchange (NSE) inside its building in Mumbai, India, May 28, 2019. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register BENGALURU, April 12 (Reuters) – Indian shares fell for a second straight session on Tuesday ahead of......

Fintech Nubank nets $650 mln credit line for Mexico, Colombia expansion

Reuters
The logo of Nubank, a Brazilian fintech startup, is pictured at the bank’s headquarters in Sao Paulo, Brazil June 19, 2018. REUTERS/Paulo Whitaker/File Photo Register now for FREE unlimited access to Reuters.com Register MEXICO CITY, April 11 (Reuters) – Brazil’s Nubank , Latin America’s star fintech, is fueling its expansion......

India’s HDFC Bank to merge with mortgage lender HDFC Ltd

Reuters
HDFC Ltd shareholders to get 42 shares of HDFC Bank for 25 shares held Combined company to have balance sheet of $237 bln HDFC Bank shares up 14.4%, HDFC Ltd surges 19.6% BENGALURU, April 4 (Reuters) – India’s largest private lender HDFC Bank (HDBK.NS) will merge with its biggest shareholder,......

Bank analysts, investors antsy for spending outlook as inflation risks grow

Reuters
NEW YORK, March 29 (Reuters) – Analysts and investors of major Wall Street banks are eagerly anticipating any insight from executives on the outlook for consumer spending and borrowing, a key source of revenue, when first-quarter earnings are unveiled next month. U.S. consumer spending has been rising for months as......

ECB will react to second-round inflation effects – Handelsblatt

Reuters
European Union flags flutter outside the European Central Bank (ECB) headquarters in Frankfurt, Germany, April 26, 2018. REUTERS/Kai Pfaffenbach Register now for FREE unlimited access to Reuters.com Register FRANKFURT, March 20 (Reuters) – The European Central Bank will take action if it sees second-round inflation effects and a de-anchoring of......

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