Citigroup, Deutsche Bank and ANZ face criminal cartel charges
Australia & New Zealand Banking Group Ltd. (ANZ), along with Deutsche Bank (DB) and Citigroup (C) are facing criminal cartel...
Finance
Just hours into GDPR regime, tech giants are staring at enormous fines
The privacy revolution has begun in Europe, and it’s going to be a rough ride for Silicon Valley. Just hours...
GDPR is a shadow monster that can hunt down US firms
The deadline for companies having operations in the European Union (EU) to comply with the General Data Protection Regulation (GDPR)...
Visa strengthens hold in the Caribbean as YellowPepper receives $12.5-million funding
Latin American fintech firm YellowPepper, which provides mobile payments solutions in the region and the Caribbean, received an addition funding...
Deutsche Bank looking to cut around 10,000 jobs
Deutsche Bank (DB) is planning to cut nearly 10,000 jobs as part of its efforts to reduce expenses. The job...
Fifth Third Bancorp to buy MB Financial for $4.7 billion
Broadening its presence in the regional markets further, Fifth Third Bancorp (FITB) agreed to acquire MB Financial (MBFI) in a...
PayPal agrees to buy iZettle for $2.2 billion in the biggest acquisition till date
PayPal Holdings Inc. (PYPL) agreed to buy European payments services provider iZettle for $2.2 billion. The deal, which is expected...
Mastercard to get a major boost from the shift towards digital payments
Mastercard (MA) stock has been on an upswing lately and touched a new 52-week high of $194.72 on Monday, up...
Buoyed by relaxed norms, JPMorgan eyes majority-owned JV in China
At a time when business ties between the US and China are on the threshold of a major shift, investment...
Intercontinental Exchange may soon have a bitcoin trading platform
Intercontinental Exchange (ICE) is building a platform where one can trade bitcoins, according to multiple media reports. ICE ventured into...
Activist Investor Carl Icahn divests stake in AIG
Last week, we heard the news about Warren Buffett adding another 75 million shares of Apple (AAPL) and increasing Berkshire...
MetLife’s profit beats estimates; stock in green
Insurer MetLife (MET) reported a 44% jump in first-quarter earnings driven by favorable underwriting, volume growth, and the effects of...
Increased expenses broaden Square’s loss in 1Q
Payment processing company Square (SQ) reported its first quarter results after the bell. Revenue for the quarter topped analysts’ consensus,...
Mastercard stock climbs on upbeat Q1
Payment network Mastercard (MA) reported upbeat first-quarter results as more consumers bought items using credit and debit cards. In a...
Goldman Sachs fined $110 million in Forex probe
Goldman Sachs Group Inc. (GS) has been fined $110 million over illegal information sharing by its Forex traders regarding client...
Banks at risk as tech firms trespass into the financial services territory
Tech firms have become so popular that they are already quite ubiquitous. In fact, they are like The Mad Titan...
Deutsche Bank plans a major overhaul of operations
Deutsche Bank AG (DB) is planning a major overhaul of its operations after reporting disappointing results for its first quarter...
LendingClub shares sink after FTC files complaint
Just a few months after LendingClub agreed to settle a lawsuit relating to CEO Renaud Laplanche ‘s departure disclosure to...
Visa’s Q2 results top estimates on improved spending
Visa’s (V) second quarter results topped analyst estimates. Adjusted earnings jumped 30% to $1.11 per share, while operating revenues came...
Nothing’s looking ‘fine’ for Wells Fargo
Wells Fargo & Co. (WFC) was handed a fine of $1 billion in a case relating to malpractices in its...
Barclays CEO gets to keep job after whistle-blower scandal
Barclays’ CEO James E. Staley has been awarded a fine for his attempts to find the identity of a whistle-blower,...