JACKSONVILLE, Fla. - (02/16/05) Financial services conglomerateFidelity National Financial Inc. reported fourth quarter earningsfell almost 20% to $174.9 million, or 98 cents a share, compared tothe same period the year before. The major cause for the decline infourth-quarter earnings was $17 million in non-recurring charges,including $6.3 million for the scotched spin-off of thecompanys financial services outsourcing unit, known asFidelity National Information Services. Fourth quarter revenuesrose slightly to $2.1 billion, from $2.04 billion for the fourthquarter last year. For the full year, net income fell 14% to $741million, or $4.21 a share, compared to $861.8 million, or $5.63 ashare, for fiscal 2003. The company said it plans to pay a specialdividend of $10 a share, more than $2.5 billion, inMarch.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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