Finance

Despite the weaker-than-expected results, interim CEO Thomas Gibbons pledged to continue spending heavily on tech upgrades aimed at cutting costs, improving efficiency and developing innovative products.

French mobile payments app Lydia has raised €40 million (about $45 million) in a Series B fundraising round led by Tencent Holdings, owner of WeChat Pay.

Morgan Stanley’s profits rose 46%; the deal pressures China to open its financial services sector to U.S. firms.

A tough fourth quarter seemed to foreshadow challenges in the year ahead for the nation’s fifth-largest bank.

The credit union has returned payouts of $5 million or more for each of the last eight years and has issued a dividend of some sort every year since the mid-1990s.

Brian Moynihan said banks must be mindful of pricing and risk as they contend with lower yields on loans and securities.

CEO William Demchak said the bank has witnessed "a lot of mischief" among customers who open checking accounts to collect bonuses and then never use the accounts again.

Organizers of First Women's Bank have also filled two key executive posts.

Goldman Sachs Group Inc.’s comeback quarter for trading was marred by a $1.09 billion legal charge as the firm gets closer to a settlement of the 1MDB scandal.

JPM, Citi shrug off low rates as strong economy propels profits; digital currencies start year with gains as optimism about its future grows.

Bank of America Corp.’s traders bounced back with their peers.

The Charlie Scharf era began with the company's lowest quarterly net income in more than nine years. Culprits included falling revenue, rising salaries and yet more financial fallout from the bank's sales scandal.

The banking giant is counting on continued growth in cards, deposits and digital accounts to drive returns higher in 2020.

The San Francisco bank is also bulking up in Florida and Wyoming, no-tax states where many of its affluent clients have retired or have second homes.

The country's biggest bank is leaning more on fee income to offset rate pressures, expanding in selected U.S. cities and laying the groundwork for operations in China that CEO Jamie Dimon hopes will endure “for 100 years.”

The rebound, combined with strong earnings from debt underwriting and consumer banking, pushed net revenue for the period to the highest since 2015.

Wells Fargo & Co. may have a new leader, but the work of reinvigorating the firm after years of troubles is far from over.

Bank beats estimates as earning soar 21%; a cyberattack on the American banking system could create havoc on financial stability.

Fueled by a rebound in trading, especially in fixed income, the company said profit jumped 21% in the fourth quarter, pushing annual earnings to a record $36.4 billion.

The latest dividend brings the credit union's member returns to more than $32 million in 23 years.