Category: Finance News

Kristo Kaarmann, CEO and co-founder of Wise. Eoin Noonan | Sportsfile | Getty Images LONDON — Kristo Käärmann, the billionaire CEO of money transfer firm Wise, was slapped with a £350,000 ($454,000) fine by financial regulators in the U.K for failing to report an issue with his tax filings. Käärmann,…

Election Day is just one week away, and the outcome is set to have wide-ranging consequences for markets regardless of who wins the White House or which party controls each chamber of Congress. Stocks are uncharacteristically strong heading into the U.S. presidential election on Nov. 5, with all three major…

Check out the companies making headlines in after-hours trading: Chipotle Mexican Grill — The burrito chain reported mixed quarterly results and shares dipped 3%. Chipotle reported adjusted earnings of 27 cents per share, exceeding expectations of 25 cents a share from analysts polled by LSEG. Revenue came out at $2.79…

Check out the companies making headlines in midday trading: VF Corporation — Shares jumped more than 27%. The North Face and JanSport parent’s quarterly results beat Wall Street’s expectations for the fiscal second quarter. VF Corporation posted adjusted earnings of 60 cents per share on revenue of $2.76 billion. That…

Chinese smartphone company Xiaomi on Tuesday announced a sports car version of its SU7 electric sedan would begin preorders for the equivalent of more than $110,000. Luna Lin | Afp | Getty Images BEIJING — China’s Xiaomi said Tuesday that it had delivered more than 20,000 SU7 EVs in October…

Check out the companies making headlines in premarket trading: Eli Lilly — The drugmaker tumbled 7.5% after missing analysts’ expectations for the third quarter and cutting full-year guidance. Eli Lilly earned $1.18 per share, excluding items, on $11.44 billion in revenue. Analysts polled by LSEG had anticipated earnings of $1.47…

Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 4, 2024. CNBC Warren Buffett sold another big chuck of his Apple stake, downsizing Berkshire Hathaway‘s biggest equity holding for four quarters in a row. The Omaha-based conglomerate held $69.9 billion worth of Apple shares…

HSBC Holdings has decided to change its organisational structure into four businesses as the London-headquartered bank looks to save costs under its new group chief executive officer (CEO) Georges Elhedery.   From January 1, 2025, the company will operate through four businesses: Hong Kong; the UK; corporate and institutional banking; and…

Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2024. David A. Grogen | CNBC Berkshire Hathaway‘s monstrous cash pile topped $300 billion in the third quarter as Warren Buffett continued his stock-selling spree and held back from repurchasing shares….

Earlier this week on October 21, United Overseas Bank (UOB) issued its second onshore Panda bond. At Rmb5 billion ($700 million) it was priced at a mid-range of 2.3%. This was within the initial price range of 2.05% and 2.65% and was 46 basis points above the three-year China Development…