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The Latest Breaking News on Financial Services

UniCredit Boosts Outlook After Walking Away From Banco BPM

Italy's UniCredit posted a sharp rise in quarterly profit on Wednesday despite lower revenues, a day after it withdrew its offer for smaller rival Banco BPM due to government interference.

International Business Times

JPMorgan Chase Shakes Up Quantum Computing Division, Recruits State Street's Rob Otter As Marco Pistoia, Charles Lim Exit

JPMorgan Chase Co. (NYSE:JPM) has revamped the leadership of its internal research group, responsible for quantum computing and other advanced technologies. The bank has appointed a former State Street Corp. (NYSE:STT) executive to lead the team.

Benzinga

British Business Bank returns to profit amid further investments

It is the first profit the bank has delivered since 2022 after the valuation of firms it invested in were impacted by challenging economic conditions.

The Independent UK

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Monique Ryan to bring private member’s bill to lower voting age – as it happened

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The Guardian - AU

Is The Market Missing Bank Of America's Strong Earnings Growth?

Bank of America Corp. (NYSE:BAC) kicked off earnings season with a stronger-than-expected second quarter on Wednesday, reporting net income of $7.1 billion and earnings per share of 89 cents, surpassing analyst expectations.

Benzinga

Anger over Santander charging for business accounts it said would be ‘free for ever’

Exclusive: Thousands of small business owners face charges of £9.99 a month from October despite previous written guarantee

The Guardian - UK

U.S. Bancorp Nails Q2 Profits But Stock Dips On Revenue Miss

U.S. Bancorp (NYSE:USB) edged past earnings estimates in the second quarter but fell short of revenue expectations, causing its shares to decline in Thursday’s premarket trade.

Benzinga

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Former bank exec accused of grooming girls found dead

Days after a court appearance, a former bank executive accused of "terribly serious" offending has been found dead on the Gold Coast, police have confirmed.

AAP

JPMorgan's Q2 Outperformance Bolsters Confidence In Its 2025 Outlook

Shares of JPMorgan Chase Co (NYSE:JPM) came under pressure on Wednesday, even after the company on Tuesday reported upbeat second-quarter earnings.

Benzinga

JPMorgan Flexes Revenue Muscle Again As Wells Fargo Battles NII Woes

Wells Fargo Company (NYSE:WFC) shares dipped after the banking giant reported mixed second-quarter 2025 earnings. While the company surpassed analyst expectations for earnings per share and revenue, a significant downward revision in its full-year net interest income (NII) forecast, a key profitability metric, raised investor concerns.

Benzinga

Bank Of America's Q2 Results 'Better Than Feared', Says Analyst

Bank of America Corp. (NYSE:BAC) delivered second-quarter fiscal 2025 results that largely surpassed expectations, with reported earnings per share aligning with consensus estimates.

Benzinga

Rachel Reeves warned by City grandees not to weaken banking safeguards

Chancellor’s plan to slash red tape could raise financial risks and do little to help households, say architects of UK’s post-2008 reforms

The Guardian - UK

Bank of America Q2 Loans And Deposits Grow, Efficiency Ratio Increases To 64.58%

Bank of America Corp (NYSE:BAC) reported second-quarter fiscal 2025 net income of $7.1 billion (versus $6.9 billion a year ago) and EPS of $0.89, beating the analyst consensus estimate of $0.87.

Benzinga

Diageo CEO Debra Crew steps down; UK inflation rises to 18-month high of 3.6% – as it happened

Crew leaves after investor disquiet over company’s lacklustre performance; UK food prices rise most since February 2024 but economists still expect August rate cut

The Guardian - UK

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AAP

Cafes, small businesses fear brunt of surcharge cut

The dreaded $6 line for a coffee could soon become reality for cafe owners after a proposal to scrap card surcharges could force fees to pass on to customers.

Kiplinger

Does PNC's $4.1 Billion Purchase of FirstBank Impact You? 5 Must-Know Strategies If Your Bank Closes

Concerned about your bank closing? For retirees who prefer in-person banking, here's what you can do now.

Benzinga

Bank Of America Q2 Earnings Preview: Can Top Warren Buffett Holding Keep Beating Analyst Estimates?

Bank of America Corporation (NYSE:BAC) looks to keep a streak of beating analyst estimates alive when the company reports second-quarter financial results before the market opens Wednesday.

The Guardian - UK

Reeves says rules and red tape are ‘boot on the neck’ of business

At the Mansion House dinner she calls for regulators to allow more risk to clear the way for economic growth

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news in one place.

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International Business Times

US Banks See Lower Recession Risk Despite Tariff Fog

Large US banks reported results that topped estimates Tuesday as executives pointed to American economic resilience and said businesses were adapting to tariff uncertainty.

Benzinga

Big Banks Smash Earnings Expectations But Rally Fails To Produce New Fuel

The second-quarter earnings season for banks kicked off with blowout numbers from the biggest names on Wall Street, but investors weren't in the mood to celebrate.

Benzinga

Bank Of New York Mellon's Strong Q2 Profit Drives Higher 2025 Guidance

Bank of New York Mellon Corp. (NYSE:BK) on Tuesday reported better-than-expected second-quarter 2025 results, topping both revenue and earnings estimates.

Benzinga

Citigroup Q2 Revenue And Profit Jumps, CFO Says Recession Risk Has Fallen

Citigroup (NYSE:C) reported on Tuesday that the second-quarter fiscal 2025 revenue growth was 8% year-over-year and was $21.7 billion, beating the analyst consensus estimate of $20.9 billion. This growth was driven by each of the five interconnected businesses.

Benzinga

Wells Fargo's Net Interest Income Shrinks In Q2, Bank Trims Outlook

Wells Fargo Company (NYSE:WFC) reported a net interest income of $11.71 billion on Tuesday, down 2% year over year in the second quarter of 2025.

The Guardian - UK

Reeves unveils City strategy aimed at cutting red tape and fuelling UK growth

‘Leeds Reforms’ include streamlined accountability for senior bankers and a campaign to get more consumers investing in stock market

Evening Standard

Reeves sets out sweeping reforms to financial sector in search for growth

The changes are ‘freeing up firms to take risks and to drive growth’, Chancellor Rachel Reeves said.

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