Fintech

UBS Group Chairman Colm Kelleher said the bank will focus on the very richest US clients, backtracking from a plan to serve a broader segment of affluent customers after it abandoned a deal to buy the robo advisor Wealthfront.

Carlyle Group plans to raise at least $8.5 billion for a new private credit fund, as it competes with rivals to snap up lending business abandoned by banks.

Canada's banks are expected to post their second straight quarter of declining earnings as the darkening economic outlook slows loan growth and prompts them to stockpile capital, outweighing the benefit of wider lending margins.

Federal Reserve officials at their meeting earlier this month concluded it would soon be appropriate to slow the pace of rate increases, signaling the central bank was leaning toward downshifting to a 50-basis-point hike in December.

Our current high inflation rates and the recession that is probably facing the economy in 2023 have the fingerprints of Federal Reserve Board Chairman Jerome Powell all over them.

Friendly Hills Bancorp will soon be called First Pacific — a name its CEO has coveted for years. First Missouri recently rebranded as Verimore, a name it made up by combining words from Latin and English. In both cases, the changes reflect the banks' expansion into new markets.

U.S. consumers are more likely to apply for a credit card, and less likely to get rejected, than they were last year, according to a New York Fed survey. The card industry is growing even as the mortgage and auto lending sectors show signs of retrenchment.

Deutsche Bank is weighing cuts to its leveraged finance unit as part of a review by CEO Christian Sewing into underperforming businesses as his three-year restructuring concludes.

Walmart health care executive Cheryl Pegus will join JPMorgan Chase's Morgan Health venture as a managing director, with aims to improve employer-sponsored health care.

A former Deutsche Bank trader cleared of charges that he rigged the Libor benchmark rate has sued the bank for malicious prosecution, saying the company made false and misleading statements to get him prosecuted in the U.S.