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Tag: finance


Activity, Investment Banking, Trading

Stocks making the biggest moves midday: Tesla, Plug Power, U.S. Steel, Chipotle & more

January 8, 2021

Via: CNBC

Tesla — The electric vehicle company surged more than 7% to a new record high. Tesla’s market capitalization jumped above $800 billion for the first time on Friday, making the company more valuable than Facebook, and the fifth-most valuable component […]


Activity, Investment Banking, Trading

Bank Stock Roundup: USB, JPM, WFC & TFC in Focus on Restructuring Initiatives

January 8, 2021

Via: Yahoo

Over the past four trading sessions, performance of major bank stocks depicted a bullish picture. This optimism primarily seems to be driven by the hopes of more economic stimulus as the U.S. Congress confirmed Joe Biden’s victory in the Presidential […]


Capital and Risk, Operational

Global card spend grows 13% in 2019, mostly down to China’s UnionPay

October 9, 2020

Via: Banking Technology

The report cited three main drivers for the strong growth: financial inclusion initiatives in developing countries, rise of contactless in more mature markets, and the hygiene concerns around cash during COVID-19. UnionPay – the world’s largest card payment organisation based […]


Activity, Corporate Banking

Bank of America teams up with Black-owned Unity bank

October 9, 2020

Via: FinTech Futures

According to Black Business, BoA has acquired approximately 5% of the bank’s common equity. Its investment is aimed at offering benefits to the communities that Unity serves through services such as lending, housing, neighbourhood revitalisation, and more. “Unity remains committed […]


Capital and Risk, Credit

Ripple introduces Line of Credit

October 8, 2020

Via: Finextra

Today, Ripple launched Line of Credit, a new beta service on RippleNet that allows customers using On-Demand Liquidity (ODL) to source capital on demand to initiate cross-border payments at scale using the digital asset XRP. Limited access to working capital […]


Capital and Risk, Credit

Bank of America wades into payday loans business

October 8, 2020

Via: Finextra

Bank of America today introduced Balance Assist, a revolutionary new solution that provides a low-cost way for clients to manage their short-term liquidity needs, borrowing only the amount they need, up to $500. Balance Assist is the latest offering in […]


Uncategorized

BofA launches omni-channel approach to cross-currency transactions

October 7, 2020

Via: Finextra

Bank of America is responding to the dual imperatives of cross-currency transactions – technology innovation and client demand for improved efficiency – with an omni-channel offering that now includes API (application programming interface) and mobile connectivity. “We are pleased to […]


Activity, Corporate Banking

Wells Fargo Reportedly Cuts More Than 700 Jobs in Commercial Banking

October 7, 2020

Via: TheStreet

Wells Fargo (WFC) – Get Report reportedly has cut more than 700 commercial-banking jobs and the bank ultimately could reduce tens of thousands positions. Shares of the San Francisco-based financial services company were up 2.77% to $24.84 in trading Wednesday. […]


Activity, Investment Banking

First Mainstreet Insurance Acquires Two Iowa Agencies

October 6, 2020

Via: Insurance Journal

First MainStreet Insurance L.C. (FMSI), an affiliate of TrueNorth Companies L.C., has acquired two Iowa agencies: Brummel Madsen Insurance in Cedar Falls and The Engel Agency in Maquoketa. Brummel Madsen Insurance has been serving the Cedar Valley area since 1960. […]


Activity, Insurance

Pandemic Economic Uncertainty Could See Insurers Buying, Partnering with Insurtechs

October 5, 2020

Via: Insurance Journal

Insurance carriers could increasingly target insurtechs for acquisition and partnerships in the coming months due to pandemic-related economic uncertainty, according to a report. “As insurers move toward late 2020 and into 2021, we believe there may be an increase in […]