Frederic J. Brown | AFP | Getty Images Credit card companies are experiencing a surge in losses, surpassing levels seen in the past three decades, with the exception of the Great Financial Crisis, according to a report by Goldman Sachs. Following a brief decline in September 2021, credit card losses have been steadily increasing since …
Ali Ghodsi, co-founder and CEO of Databricks. Databricks While some high-valued tech startups are turning to the IPO market for funding, Databricks has chosen to stay private, at least for now, and has managed to secure more investment. Databricks, a data analytics software provider, announced on Thursday that it has raised over $500 million at …
A panoramic view of the New York Stock Exchange (NYSE) on Wall Street in New York City is shown in this captivating image captured on May 12, 2023. Photographer: Angela Weiss | Source: AFP | Copyright: Getty Images Moody’s downgraded the credit ratings of numerous small and medium-sized U.S. banks on Monday night, and it …
Here are the latest headlines from companies before the opening bell: American Express — American Express shares decreased by 3% after reporting lower-than-expected revenue for the previous quarter. However, the company exceeded expectations for earnings per share. For the second quarter, the company reported earnings of $2.89 per share on revenue of $15.05 billion. Refinitiv …
Visitors browse vehicles at the AutoNation Toyota dealership in Cerritos, California. Mario Anzuoni | Reuters Explore the latest market news during midday trading. Scholastic — The publishing company surged by 14.2% after announcing a $100 million increase in its share repurchase plan. Investors also reacted positively to Scholastic’s quarterly results, which revealed earnings per share …
Michael Barr, Vice Chair for Supervision at the Federal Reserve, testified about recent bank failures during a US Senate Committee on Banking, House and Urban Affairs hearing on Capitol Hill in Washington, DC, on May 18, 2023. Saul Loeb | AFP | Getty Images All 23 of the U.S. banks included in the Federal Reserve’s …