BTIG expects employees to work from home through 2020

Brokerage firm BTIG said Friday it expects its U.S. employees to continue working remotely for the rest of the year, joining the ranks of employers who say their staff have adjusted to the new normal and prefer to play it safe as transmission rates spike in parts of the country.

JPMorgan, Bank of America, Wells Fargo and Goldman Sachs join climate initiative

Four major U.S. banks partnered with a clean energy nonprofit for an initiative that would put the financial industry on track to lower carbon emissions to net-zero by 2050.

Wells Fargo launches $400M fund aimed at minority small-business owners with PPP fees

Wells Fargo said Thursday that it has launched a new $400 million fund that will be fed through the donation of its Paycheck Protection Program fees in order to help small businesses that have taken the brunt of the economic damage caused by the continuing COVID-19 pandemic.

Big banks absent from Fed’s Main Street lenders list

The Federal Reserve Bank of Boston on Wednesday released a state-by-state list of lenders that have registered for the Main Street Lending Program, revealing a selection of the banks that have chosen to participate in the mid-size business loan program.

JPMorgan Chase pauses plans to open up Ohio offices as COVID-19 cases climb

JPMorgan Chase suspended plans to open its offices in Columbus, Ohio, after the Midwestern state had its highest day for new coronavirus cases on July 3, bank spokesperson Carlene Lule told Fastinform Wednesday.

US bank earnings could drop 69% in the second quarter, Goldman Sachs says

Earnings for the top seven U.S. banks are likely to plunge almost 70% year-over-year in the second quarter, with near-zero interest rates cutting deep into income, analysts from Goldman Sachs projected.

Bank of America to phase U.S. employees back to offices after Labor Day

Bank of America will begin the process of bringing its 185,000 employees who have been working from home back into the office after Labor Day, Sept. 7, a spokesperson said Tuesday.

CoreLogic rejects $7B ‘opportunistic’ takeover bid by Cannae, Senator

CoreLogic’s board on Tuesday unanimously rejected a $7 billion acquisition bid from Cannae Holdings and Senator Investment Group, while the investment firms hit back with threats to call a special meeting of the board by July 28.

RBC commits CA$150M to minority businesses, promises greater leadership diversity

Royal Bank of Canada pledged on Monday to invest 150 million Canadian dollars ($111 million) in black- and Indigenous-owned businesses, as well as raise diversity targets, in the latest move by a global financial firm to confront growing civil unrest over racial disparities and discrimination.

Turkish exchange bans JPMorgan, Goldman Sachs, others from short selling

Turkey’s stock exchange barred six major banks from betting against its market on Monday, the latest restrictive measure taken in the country against investors looking to short sell.

PPP set for extension after House sends bill to Trump

Small businesses will have another five weeks to apply for emergency government-backed loans to help them stay afloat during a COVID-19 resurgence under a bill passed by the House of Representatives late Wednesday that will now go to President Donald Trump for his signature.

Unsolicited bid for CoreLogic transaction could be financed by Bank of America

Investment firms Cannae Holdings and Senator Investment Group may call for a special meeting of CoreLogic stockholders to kick-start their attempts to acquire the data analytics company, the pair said in a regulatory filing on Tuesday.

Wells Fargo alone among big banks to shrink dividend following stress test results

Wells Fargo confirmed Monday that it will be the only Big Four U.S. bank to reduce its planned third-quarter dividend, after the Federal Reserve released the results of its annual stress test and capped payouts to ensure institutional resilience amidst the economic downturn in a move that fell short of other central banks’ restrictions, leaving the door open for most planned shareholder returns — for now.

Netflix to move up to $100M to Black-owned banks

In an effort to help economically bolster Black communities, Netflix has pledged to allocate up to 2% of its cash holdings, or $100 million, to Black-owned financial institutions in the U.S., the video streaming giant said Tuesday.

Russia’s VTB Bank patents new tech to streamline customer data verification

Russia’s VTB Bank has received a patent for an algorithm designed to streamline data verification in distributed microservice systems, marking the latest in a string of new technologies the bank has been developing.

Elliott Management and Siris’ Travelport wins expedited trial in dispute with Wex

Elliott Management Corp.’s Travelport will receive an expedited trial in its dispute with Wex over the company’s failure to follow through with a $1.7 billion purchase of two travel payment companies, keeping hope alive for the deal.

Wirecard files for insolvency amid €1.9B accounting scandal

For Wirecard, a week that began with the revelation €1.9 billion was missing from its balance sheet and the arrest of its CEO on accounting fraud charges has ended with the once-celebrated fintech filing for insolvency.

BBVA expands U.S. banking app as it scrambles to cushion losses in emerging markets

Spanish investment bank Banco Bilbao Vizcaya Argentaria launched a mobile banking app for the U.S. market Wednesday, days after the bank faced ratings downgrades fueled by mounting losses in its core emerging markets segment.

Philippine authorities investigate whereabouts of ex-Wirecard COO

Authorities in the Philippines are investigating whether former Wirecard chief operating officer Jan Marsalek is in the country after he was fired on Monday from the troubled German payment processor amid a €1.9 billion accounting scandal.

Cloud banking software provider nCino files to go public

nCino, a financial technology company that provides cloud-based software for financial institutions, has filed to go public and hopes to raise $100 million.

About Us · Terms of Use

Copyright © 2020 Fastinform, Inc.