Finance

Exclusive news, analysis and commentary on all things Wall Street, from banking and markets to private equity and hedge funds.

Banking

Fed Majorly Backtracks on Proposed Bank-Capital Hike

Photo by Thomas Belknap via CC BY-SA 1.0

The proposal to hike holdings for the biggest lenders to buttress market shocks was sliced more than in half.

2 min read
Markets

Can a Texas Stock Exchange Really Lock Horns with Wall Street?

Photo illustration by Connor Lin / The Daily Upside, Photo by Andrey Krav via iStock

The Texas Stock Exchange is hoping to become the center of a new financial mecca in the Lone Star state when it launches next year.

4 min read
Finance

Warfare is ESG Now

Image Credit: iStock, A.Greeg

Defense stocks are taking up a growing slice of the ESG (environmental, social, governance) pie. Reports attribute that to the war in Ukraine.

1 min read
Technology

Nvidia Beats Revenue and Profit Expectations, But Was It Enough?

Photo via NVIDIA Media Assets.

Yesterday was Nvidia Day: The AI giant handily beat revenue and profit forecasts, and issued third-quarter guidance that beat expectations.

2 min read
Private Equity

Private Equity Firms to Commit $12 Billion for NFL Team Stakes After League Vote

Photo by Sandro Schuh via Unsplash

As the price of franchises soar, shrinking the pool of would-be acquirers, NFL owners are rethinking their aversion to private equity.

2 min read
Banking

The EU Wants to Make Its Bankers More Fireable

Photo by Kremlin.ru via CC BY 4.0

The German government is planning to make it easier for companies in the financial sector to fire high-earning employees.

1 min read
Energy

US Coal Miners Arch and Consol to Combine Into $5.2 Billion Giant

Photo by Elimende Inagella via Unsplash

Arch Resources and Consol Energy announced plans for a merger to create a new $5.2 billion coal giant called Core Natural Resources.

1 min read
Banking

Wells Fargo Sells Most of Its Commercial Real Estate Servicing Business

Photo by NoeHill via CC BY-SA 3.0

Wells Fargo said Tuesday that it will sell most of its commercial mortgage servicing business to Trimont, a global loan services provider.

1 min read
Regulation

Carl Icahn Settles SEC Charges He Hid Billions in Loans Backed by Company Stock

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Famed activist investor Carl Icahn agreed to pay $500,000, and his Icahn Enterprises $1.5 million, to settle civil charges from the SEC.

1 min read
Finance

What’s Fueling the Market Rebound?

Photo by Federal Reserve Board of Governors via Public Domain Mark 1.0

The S&P 500, having recovered all its losses from earlier this month, sits just less than 2% away from the all-time peak it reached in July.

2 min read
Finance

US Regulator Finds ‘Unacceptable’ Deficiency Rates At Audit Firms

Photo by Lumos Ajans via iStock

The Public Company Accounting Oversight Board called out an “unacceptable” level of deficiencies at the country’s biggest auditors.

1 min read
Markets

GoDaddy Is Flooring It to the Top of the S&P

Photo via GoDaddy

GoDaddy now sits just outside the top 10 performing companies in year-to-date returns, outpacing everyone in the Mag-7 except for Nvidia.

1 min read
Banking

UBS Quarterly Profit Doubles Market Forecast

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UBS appears to have regained its form, reporting $1.1 billion in net income for the second quarter, doubling analyst estimates.

2 min read
Banking

Canada’s Scotiabank Stakes Out $2.8 Billion in US Lender KeyCorp

Photo by Ryan Sharpe via CC BY-SA 4.0

Canada’s Scotiabank, one of the country’s big six lenders, announced Monday that it bought a 14.9% stake in US regional lender KeyCorp.

1 min read
Markets

Growth is No Longer Just for Tech Megacaps

Photo by Jason Briscoe via Unsplash

S&P 500 stocks — excluding the Magnificent Seven — are on pace to deliver their first profit growth since the fourth quarter of 2022.

1 min read
Markets

The Carry Trade is Unwinding. How Much is Left to Go?

Photo by Jun Rong Loo via Unsplash

In a carry trade, you borrow money in a country with low interest rates and use it to buy a higher-interest-rate currency like the dollar.

1 min read
Markets

Proposed Nasdaq Rules Would Clamp Down on Risky Penny Stocks

Photo by Ajay Suresh via CC BY 2.0

After months of criticism for listing over 400 penny stocks, Nasdaq is proposing tightened rules to crack down.

1 min read
Banking

US Regulators Investigate Banks’ Responses to Scams on Zelle

Photo by Ablokhin via iStock

Major US banks are being probed by the Consumer Financial Protection Bureau (CFPB) over how they handle fraud on P2P payments app Zelle.

2 min read
Markets

Novo Nordisk Slips Amid Disappointing Wegovy Sales

Photo by News Øresund – Johan Wessman via CC BY 2.0

Novo Nordisk’s share price fell over 8% on Wednesday after the company reported lower-than-expected sales of Wegovy.

2 min read
M&A

Acquisition Could See Cheez-It and Pringles Owner Make a Mars Landing

Photo by Abir Hiranandani via Unsplash

Kellanova popped 16% on the NYSE following a Reuters report that said it’s an acquisition target for privately-held confectionary giant Mars

1 min read