Finance

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

Photo by Ryan Sharpe via CC BY-SA 4.0

Banking

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

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
Photo by Jason Briscoe via Unsplash

Markets

Growth is No Longer Just for Tech Megacaps

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
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Markets

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

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

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

1 min read

Markets

Key Indicators Send Markets Into ‘Recession’ Chatter

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

Friday ended with the main indices in Asia, Europe, and New York pointing down in unison, the Nasdaq even entering correction.

2 min read

(Photo Credit: Serba Sembilan/Flickr)

Finance

Berkshire Hathaway Takes a Steps Back from Apple, Builds Cash Pile

Berkshire Hathaway slashed its stake in Apple by nearly 40%, helping grow the Omaha company’s cash pile to more than $270 billion.

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

Finance

How Will Wall Street’s AI Experiment End?

Like money, artificial intelligence never sleeps. Financial institutions have pulled out all the stops to fit AI into their own operations.

5 min read
Photo by Colton Sturgeon via Unsplash

Markets

Energy Crisis Spurs Record Payout at Vitol Group

Vitol Group, the world’s largest independent oil trader, has paid around a record $6.4 billion in share buybacks to its employee-owners.

1 min read

Advisor Upside

Janney Montgomery Scott Sold in Major PE Deal

Photo via Connor Lin / The Daily Upside

Janney will be sold from the Penn Mutual Life Insurance Company, marking another major equity deal in a busy year for the industry.

1 min read

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