Under the terms of the deal, announced in February 2024, Discover shareholders received 1.0192 Capital One shares for each Discover share, representing a 26.6% premium. “This deal brings together two innovative, mission-driven companies that together are poised to deliver breakthrough products and experiences,” said Capital One CEO Richard Fairbank. “We are well-positioned to continue our…
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In the initial phase of the partnership, Standard Chartered will provide FalconX with a “comprehensive suite of banking services,” including access to a broad range of currency pairs and enhanced cross-border settlement infrastructure. FalconX will also initially integrate Standard Chartered's banking infrastructure. The integration is expected to improve the speed, scale and reliability of FalconX’s…
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The move, which is also expected to reinforce SET’s role as a regional financial hub, will see it promote the adoption of Nasdaq’s advanced risk and surveillance platforms across its member community. The initiative builds on SET’s prior deployment of Nasdaq technology and aims to drive consistency and transparency across Thailand’s capital market infrastructure. “This…
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The deal will see StoneX’s subsidiary, StoneX Financial Europe GmbH, take over the Paris-based firm. Plantureux et Associés, with nearly four decades of experience in agricultural commodities, is seen as a well-established intermediary in France’s cereal market. The firm operates across both physical and derivatives markets and is known for its deep industry expertise and…
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The new service, HSBC TradePay for Import Duties, is said to enable businesses to streamline duty payments while optimising working capital. By allowing HSBC to settle import duty payments directly, either via pre-agreed credit terms with brokers or through ACH credits, HSBC said clients can access credit and make payments in a single transaction. “Clients’…
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Net income increased 35% to $71.7 million, while diluted earnings per share rose 29% to $1.41. Executive Vice Chairman Sean O’Connor credited the gains to “solid performance across a wide range of our products and segments,” citing increased market volatility and strong client engagement as positive drivers. Return on equity rose to 15.7%, up from…
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The company introduced a new FX solution that aims to lower costs and improve risk forecasting for businesses navigating currency volatility. At the core of the collaboration is Ant’s proprietary Time-Series Transformer (TST) AI FX Model, which is said to forecast cashflow and foreign exchange exposure with over 90% accuracy. The model, trained using time-series…
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In a statement, Alpha said it had carefully reviewed the conditional proposal with its financial advisers before deciding to reject the offer. The company did not disclose financial details of Corpay’s bid. Corpay, a Georgia-based provider of business payments and spend management solutions, had previously confirmed it was in discussions with Alpha regarding a potential…
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The company said it has introduced new capabilities designed to enhance efficiency and reduce risk for global financial institutions. The enhancements, announced on Tuesday, include tools for fails research, inventory optimisation, and email integration automation. OpsGPT is said to now leverage “agentic” AI capabilities to provide real-time operational intelligence, helping firms streamline workflows, manage capital…
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The firm said the decline was due to lower markets and institutional outflows, which weighed on results. The group saw net outflows of £6.4 billion from its Investments division, primarily due to a previously disclosed £4.2 billion redemption from a low-margin Phoenix mandate. Institutional & Retail Wealth assets declined to £204.8 billion, while Insurance Partners…
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