News Highlights: Top Financial Services News of the Day

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02/14/2020 | 10:15 pm
Former Banking Behemoth Changes a 300-Year-Old Brand Tainted by Crisis 

Royal Bank of Scotland will alter its name in a bid to move on from the legacy of the global financial crisis that saw the U.K. banking giant receive a $59 billion bailout from British taxpayers to prevent it collapsing.

Payments Tech Provider Toast Raises $400 Million at $4.9 Billion Valuation 

Toast, a startup that provides payment processing hardware and software for restaurants, raised $400 million in Series F funding, as the company expands its product lineup.

Don't Discount Visa 

Despite being bigger and more profitable, Visa is not as valuable to investors as rival Mastercard. But it has many tools to narrow the gap.

Credit Agricole Profit Jumps 

Credit Agricole posted an above-forecast fourth-quarter net profit of EUR1.66 billion, boosted by one-offs and revenue growth, and said underlying profit rose by almost a quarter.

Fund Managers on Alert Over Threat to EU 'Delegation' Rules 

Fears are growing in the GBP7.7 trillion U.K. funds industry that a crucial arrangement allowing asset managers to make investment decisions on behalf of funds located in the EU could be jeopardized by Brexit.

Wirecard Revenue Beats Forecasts 

German payments firm Wirecard said its revenue rose to EUR835 million in the fourth quarter, beating analysts' estimates, while adjusted earnings also gained.

Counting Rent Would Improve Credit Scores of Public-Housing Residents, HUD Finds 

Knowing that public-housing residents, on average, have poorer credit scores than the general population, HUD set out to study how including rent payments in credit reports changed tenant credit.

NIBC Gets Approach from Blackstone 

Shares of NIBC rose sharply after the Dutch bank said it has received an offer from Blackstone, with the potential bid supported by majority shareholder JC Flowers.

Mom and Pop Millionaires Are Driving Blackstone's Growth 

Individual investors have become one of Blackstone Group's biggest sources of growth, a departure for an alternative-asset giant built on relationships with the world's largest institutions.

Financial Services Roundup: Market Talk 

The latest Market Talks covering Financial Services.


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