Finance

Octaura, an electronic portal backed by seven global banks, completed its first syndicated loan trades earlier this month.

A bill introduced by Sen. Dave Min would prohibit banks that invest in gunmaking from working on any aspect of state public finances, including bond sales.

A pullback by the buyers of Upstart's consumer loans led to a "challenging year," CEO Dave Girouard told analysts. But he added that the company is in "late-stage discussions" with partners that are looking to make longer-term commitments.

The Philadelphia Fed president was slightly more upbeat about the latest inflation data than some of his counterparts.

Schulman, president and CEO of PayPal since 2014, will leave at the end of 2023. He will continue to serve on the company's board and will join in its search for a successor, the company said.

The buy now/pay later lender posted larger-than-expected losses, and following its layoffs it will deemphasize products with an uncertain short-term outlook, such as crypto trading.

Primis Financial in McLean believes its multimillion-dollar investment in a subsidiary that makes online loans to doctors, dentists and veterinarians will begin paying off this year, after build-out costs weighed on the bottom line in 2021 and 2022.

Goldman Sachs Group raised $5.2 billion for a private equity fund that will buy early-stage companies that are typically small in size, a sign of confidence in an industry that's confronting strong headwinds.

The New York Stock Exchange busted more than 4,000 trades in 251 symbols due to an opening auction malfunction two weeks ago. Market participants and analysts recommend automating systems and upgrading technologies.

Mike Cagney, the former chief executive of the lending giant SoFi, is searching for investors for his latest startup, Figure Technologies. The company, which builds financial products on a blockchain, is also seeking to spin off some product lines as it navigates a dramatic industry downturn.