Finance

Billionaire Jack Ma’s Ant Financial is planning to raise about $1 billion for a fund that will invest in startups from Southeast Asia to India and help strengthen its foothold in fast-growing mobile internet markets, a person familiar with the matter said.

Several banks have reported spikes in substandard loans, special mention credits and watch-list relationships. What does it all mean?

A 10% cut next year, which will be identical to the fee reduction this year, is projected to save the industry about $85 million.

India’s digital payments pioneer Paytm announced new funding from existing shareholders like SoftBank Group Corp.’s Vision Fund and new investors, as competition in the country’s finance sector heats up.

Banks need to manage margins more actively — including the use of new modeling technology — in the current low-interest-rate environment.

In September, loan balances grew at a slower pace than a year earlier, according to the latest trends report from CUNA Mutual.

The company will pay nearly $33 million for Tomah Bancshares to boost its operations in Wisconsin's Monroe County.

Hamp Johnston, a former market executive at JPMorgan Chase, would serve as RockPoint Bank's president and CEO. The bank would be based in Chattanooga.

Bank of America Chief Executive Officer Brian Moynihan said the U.S. has no need for negative interest rates because its economy is strong, unlike other regions that have employed the tricky strategy.

Toronto-Dominion Bank would end up with a smaller stake in a larger brokerage if Schwab and TD Ameritrade combined. But it could parlay that stake into funds for a U.S. bank acquisition.