WASHINGTON (Reuters) -The U.S. Federal Reserve announced on Wednesday it had finalized a revised framework for how it grades large banks, which will make it easier for firms to maintain a passing grade. The new framework is similar to a proposal first floated by the Fed in July, which will make it easier for banks …
Fed finalizes revised standard for grading big banks Read More »
(Reuters) -Pfizer is preparing to sweeten its offer again for Metsera, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. (Reporting by Kamal Choudhury in Bengaluru; Editing by Sriraj Kalluvila)
By Manya Saini (Reuters) -Chime raised its full-year revenue forecast above Wall Street estimates on Wednesday, as demand for its digital banking services kept growing, sending shares up 4% in extended trading. Companies like Chime have led fintechs’ push into traditional banking by offering faster digital services, lower fees and more transparent, easy-to-use products that …
Chime lifts 2025 revenue outlook as more customers turn to digital banks Read More »
(Reuters) -OpenAI Chief Financial Officer Sarah Friar said an initial public offering is “not on the cards” for the near term, speaking at The Wall Street Journal’s Tech Live conference on Wednesday. Friar said the AI startup is prioritizing growth and research over profitability and that its recent structural changes do not signal an imminent …
(Reuters) -Cybersecurity company Wiz has cleared a U.S. Justice Department (DOJ) antitrust review of its acquisition by Google-parent Alphabet, Wiz CEO said in a Wall Street Journal event on Tuesday. The deal, valued at about $32 billion, would be Alphabet’s largest acquisition. It will integrate Wiz into Google’s cloud unit, enhancing the company’s cybersecurity solutions …
Google’s $32 billion deal for Wiz clears DOJ antitrust review, Wiz CEO tells WSJ Read More »
(Reuters) -Apple plans to use a 1.2 trillion-parameter artificial intelligence model developed by Alphabet’s Google to help power a revamp of its Siri voice assistant, Bloomberg News reported on Wednesday. After an evaluation, the companies are finalizing a deal that would have Apple pay about $1 billion a year for access to Google’s technology, the …
Apple to use Google’s AI model to run new Siri, Bloomberg News reports Read More »
By Michael S. Derby (Reuters) -Overall U.S. household debt levels increased modestly in the third quarter as borrowing in some form of trouble stabilized and student loan woes increased, the New York Federal Reserve said on Wednesday. As part of its latest report on borrowing in the economy, the regional Fed bank said overall borrowing …
US household debt up modestly in third quarter, New York Fed says Read More »
By Lananh Nguyen and Nivedita Balu NEW YORK/TORONTO (Reuters) -Wells Fargo CEO Charlie Scharf said on Wednesday the lender is not under pressure to make acquisitions to boost growth, after regulators lifted a seven-year penalty that gives the fourth-largest U.S. lender more freedom to expand. “We don’t feel the pressure to do any M&A whatsoever …
Wells Fargo CEO says bank not under pressure to make acquisitions Read More »
By Saeed Azhar, Arasu Kannagi Basil and Nivedita Balu BOSTON (Reuters) -Bank of America raised a closely watched profitability target on Wednesday as CEO Brian Moynihan laid out a plan to catch up with Wall Street rivals that includes tech investments and an expansion strategy. Moynihan and other top executives are convening in Boston for …
BofA raises return target as CEO Moynihan’s new plan aims to catch up with rivals Read More »
By Leah Douglas SILVER SPRING, Maryland (Reuters) -When Daletia Chung, of Montgomery County, Maryland, learned that her November food benefits would be delayed, she immediately made a plan with extended family to share meals and groceries so she could keep herself and her child fed. But she can’t lean on them forever, she said after …
US families turn to food banks and relatives as benefits stall Read More »
