Banking & Finance

McKinsey Warns of Looming Asian Debt Crisis

The Asian financial crisis of 1997 wreaked havoc on the financial systems of Thailand, Indonesia and South Korea particularly, but the effects were felt all around the globe. To staunch ...
Read Full Story »

AIG Is Finally Firing on All Cylinders

Between mid-December and Wednesday night's close, shares of insurer American International Group Inc. (NYSE: AIG) have added more than 44%. The company's general underwriting business rose from a loss of ...
Read Full Story »

Credit Card Rates Hit 25-Year High

Americans have paid very high interest rates on credit cards for decades, and in many years the average has been over 15%. They set a 25-year record in May, at ...
Read Full Story »

Mastercard Makes Fourth 2019 Fintech Acquisition

On Monday, Federal Reserve Governor Lael Brainard announced that the Federal Reserve would build and operate a real-time payments system for all U.S. banks by 2023 or 2024. As envisioned, ...
Read Full Story »

Do GreenSky Earnings Reflect Trouble in Fintech Land?

When GreenSky Inc. (NASDAQ: GSKY) reported its most recent quarterly results before the market opened on Tuesday, the financial technology company said that it had $0.19 in earnings per share ...
Read Full Story »

How Banks Are Replacing Treasuries, Utilities and CDs for Income Investors

Many investors need income from their stocks to help supplement their life or retirement. With the yield on Treasuries so low, and with the Federal Reserve embarking on an interest ...
Read Full Story »

Why Warren Buffett Doubled Down on BofA Even More Over Wells Fargo

Bank of America Corp. (NYSE: BAC) already was one of the top equity holdings of Berkshire Hathaway Inc. (NYSE: BRK-A). The position originally dates back to a preferred share private ...
Read Full Story »

Why KBW Sees BofA, Citi and Goldman Sachs Winning From Fed Rate Cuts

The Federal Reserve's Federal Open Market Committee (FOMC) is now less than a week away from cutting interest rates, at least that's the current bet in the markets. Some Wall ...
Read Full Story »

Why Solid Earnings Aren’t Impressing Visa Shareholders

Visa Inc. (NYSE: V) reported fiscal third-quarter 2019 results after markets closed Tuesday. The credit card issuer posted quarterly adjusted diluted earnings per share (EPS) of $1.37 and revenues of ...
Read Full Story »

Why Travelers Growth in Q2 Still Disappoints

Travelers Companies Inc. (NYSE: TRV) released its second-quarter financial results before the markets opened on Tuesday. The company said that it had $2.02 in earnings per share (EPS) and $7.45 ...
Read Full Story »

Equifax Strikes a $671 Million Deal Over 2017 Data Breach

Investigations by 48 states; Puerto Rico; Washington, D.C.; the Federal Trade Commission; the Consumer Financial Protection Bureau; and the New York Department of Financial Services into the 2017 data breach ...
Read Full Story »

Does Amex Deserve More Credit for Q2 Earnings?

American Express Co. (NYSE: AXP) released its second-quarter financial results before the markets opened on Friday. The company said that it had $2.07 in earnings per share (EPS) and $10.8 ...
Read Full Story »

What to Expect When American Express Reports on Friday

American Express Co. (NYSE: AXP) is scheduled to release its second-quarter financial results before the markets open on Friday. The consensus estimates call for $2.04 in earnings per share (EPS) ...
Read Full Story »

Morgan Stanley Whiffs on Q2 Despite Bottom-Line Beat

Morgan Stanley (NYSE: MS) released its second-quarter financial results before the markets opened on Thursday. The investment bank said that it had $1.23 in earnings per share (EPS) and $10.2 ...
Read Full Story »

What to Expect When Morgan Stanley Reports Thursday Morning

Morgan Stanley (NYSE: MS) is scheduled to release its second-quarter financial results before the markets on Thursday. The consensus estimates are calling for $1.14 in earnings per share (EPS) and ...
Read Full Story »