Finance

The Toronto-based bank reported higher revenue across the entire company, including in the U.S., and kept expenses in line with its previous projections.

BMO moved closer to hitting company-wide and U.S. profit targets after reporting increased first-quarter profits.

There's speculation about a potential deal, which could boost Stripe's merchant appeal and accelerate its agentic commerce strategy. But payment experts also say Stripe could face a bidding war that includes AI companies.

The stock exchange is using the artificial intelligence extensively throughout the organization, including in development of a distributed ledger for tokenized securities.

Federal Reserve Gov. Lisa Cook said AI could boost productivity, but warned the transition may raise unemployment and force difficult tradeoffs between inflation and jobs.

Federal Reserve Bank of Chicago President Austan Goolsbee said the central bank should focus on getting inflation to its 2% target before making any additional cuts to short-term interest rates.

The investors agreed to buy 499 million shares of Citi's Mexican retail unit for around $2.5 billion. The sale was at a small premium to the initial stake the megabank sold to Mexican billionaire Fernando Chico Pardo last year. 

The platforms, where bets are placed on everything from U.K. soccer teams to the price of bitcoin, are getting traction from investors and attention from regulators.

Federal Reserve Gov. Christopher Waller said during an appearance Monday his decision on whether or not to support a cut to short-term interest rates depends on labor market indicators.

Research from Andrew Davidson claims a significant number of mortgage borrowers would have a wide variance in credit score if less than three pulls are used.

Shares of the neobank plummeted nearly 30% Thursday despite posting revenue over $1 billion as investors balked at up-front loan provision expenses that come with the expansion of Klarna's longer-term installment loans.

The New York City-based lender, whose roots lie in taxi lending, believes an expanded home-improvement loan operation will generate mid-teen loan growth this year.

Investors were encouraged by Global Payments' fourth-quarter earnings results – the first post WorldPay acquisition – but some analysts remained skeptical that the legacy fintech could turn its business around.

Some observers say changes to MSR risk-weighting would have limited near-term impact and are unlikely to prompt banks to rush back.

The fintech deal market has started to return to pre-pandemic levels, according to recent Pitchbook data, with boosts from big deals like Revolut's fundraises.

In a speech Tuesday, Federal Reserve Gov. Michael Barr said it was possible that artificial intelligence will boost productivity in an undisruptive way. But he said policymakers should also be wary of a financial crash if those gains are not realized or a rapid adoption that could lead to labor displacement.

After losing nearly $700 million in the fourth quarter as bitcoin's valuation tanked, Brian Armstrong stressed product diversification will help the company navigate the downturn.

The Bureau of Labor Statistics released its January Consumer Price Index Friday, showing that inflation rose 0.2%, while the annual rate eased to 2.4% after holding at 2.7% for several months. The data reduces the likelihood that the Federal Reserve will cut interest rates in the near future. 

The Federal Housing Finance Agency and Ginnie Mae agreed to look more closely at credit line use, according to the Government Accountability Office.

The lender beat fourth-quarter earnings estimates but warned that a strategic shift toward auto and home equity loans will compress near-term profits.