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News Highlights: Top Financial Services News of the Day

07/27/2022 | 12:16am EDT
Activist Elliott Management Holds Stake in PayPal 
 

The e-commerce payments facilitator represents a sizable target, with a market value of roughly $89 billion even after a downdraft in its shares.

 
Credit Suisse CEO Set to Depart 
 

Chief Executive Thomas Gottstein has headed the Swiss bank since the start of the pandemic and presided over a series of costly mishaps.

 
Visa tops earnings expectations as CFO sees 'no evidence of a pullback' in spending 
 

Visa Inc. topped expectations with its latest results Tuesday and gave an upbeat signal to investors about the resilience of spending volumes in the current macroeconomic climate.

 
Singapore's GIC Sees Uncertain Outlook on Inflation, Political Tensions 
 

Singapore's GIC Private said portfolio diversification has become more challenging in a high-inflation economy and that the chances of stagflation materializing in the coming years have increased.

 
Treasury Moves to Ease Limits on Foreign Tax Credits After Companies Object 
 

The Biden administration offered clarifications and new changes to blunt the impact of the rules.

 
Dispute Divides Leadership at Secretive Kuwait Investment Authority 
 

The nearly $770 billion sovereign-wealth fund fired its top London official after he attempted to change the fund's culture and pay structure, according to people familiar with the fund.

 
BlackRock Backed Fewer Climate Proposals in 2022 
 

The asset manager voted in favor of 24% of environmental and social shareholder proposals this year, down from 43% in 2021.

 
Goldman Sachs Slowly Chases Its Main Street Banking Ambitions 
 

Goldman is taking deposits from ordinary savers, but it still has a way to go before it can call itself a full-service consumer bank.

 
Tech Investors Can Rent the Dip 
 

Rental platforms are capitalizing on consumers' fear of commitment in this market; investors should, too.

 
SEC Presses Some Companies for Details on Russia-Linked Losses, Risks 
 

The Securities and Exchange Commission is pressing some companies for more information on earnings that may be stuck in Russia, currency-related losses and other potential financial impacts related to the war in Ukraine.


(END) Dow Jones Newswires

07-27-22 0015ET

Stocks mentioned in the article
ChangeLast1st jan.
BLACKROCK, INC. -2.54% 570.42 Delayed Quote.-36.06%
CREDIT SUISSE GROUP AG -4.32% 3.828 Delayed Quote.-54.90%
PAYPAL HOLDINGS, INC. -1.68% 89.6 Delayed Quote.-51.68%
TOP FINANCIAL GROUP LIMITED -1.29% 13.03 Delayed Quote.0.00%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -3.33% 56 Delayed Quote.-22.40%
VISA, INC. 0.99% 180.85 Delayed Quote.-17.32%
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