Section
Banking
Hancock Whitney buys One Florida Bank for $377.6 million
Hancock Whitney's $377.6 million cash deal for One Florida Bank adds $2.1 billion in assets and gives the regional lender a bigger Orlando foothold.
Wall Street chiefs use Beijing trip to test China access
Citigroup and Goldman Sachs executives used Beijing meetings during Donald Trump's China visit to press the market-access case, underscoring how diplomacy and cross-border finance remain tightly linked.
UK ring-fencing rules: looser regime tests bank safeguards
UK ring-fencing rules are being loosened as ministers target up to £80 billion in extra lending while keeping core retail deposit barriers in place.
Klarna Q1 profit after IPO tests BNPL discipline
Klarna posted its first profitable quarter since going public, but the shares still fell. The Q1 result tests whether public-market discipline is reshaping BNPL economics for good.
Fiserv sets 2029 targets as payments group pursues reset
Fiserv laid out new 2029 revenue, margin and earnings targets, asking investors to look through a soft 2026 and judge whether management can restore steadier growth after a weak stretch.
Affirm Targets Bank Charter With $350M Nevada Capital Pledge
Affirm outlined plans at its 12 May investor forum to inject $350 million into a Nevada-chartered industrial bank, aiming to lower funding costs and recapture fees paid to partner banks. The move puts the buy-now-pay-later firm at the centre of a growing push by fintechs to secure ILC charters.
SoFi's $1.5 billion capital raise was opportunistic
SoFi raised $1.5 billion at $27.50 a share, sparking a 6% slide despite record Q4 revenue. CEO Anthony Noto calls it opportunistic; Bank of America questions the timing.
Green Dot net income jumps 109% to $53.8M ahead of Smith Ventures sale
Green Dot Q1 net income more than doubled to $53.8 million as the fintech bank holding company posted a 17 per cent revenue gain and its widest EPS beat in six quarters ahead of a planned sale to Smith Ventures and CommerceOne.
Parker files Chapter 7 after Avalara deal collapse; $58m equity wiped
The e-commerce credit card startup shut down on 4 May after acquisition talks with tax-software firm Avalara collapsed. The Chapter 7 filing lists $50m to $100m in both assets and liabilities.
Nubank profit climbs 50% to $895m, plans $8.2bn Brazil investment
Nu Holdings fourth-quarter net income jumped 50 per cent to $894.8m as the Latin American digital bank reached 131m customers across Brazil, Mexico, and Colombia. The company plans BRL 45bn in Brazil investment for 2026.
Paga to offer tokenized bonds and real estate on Sui blockchain
Nigerian fintech Paga will offer tokenized bonds, real estate, and high-yield dollar accounts through a partnership with the Sui blockchain, the company announced on 7 May at Sui Live in Miami. The move positions Africa's largest non-bank payment processor to serve a continent where 57 per cent of adults lack a bank account.
Affirm Q3 revenue rises 33% to $1.04bn, EPS beats by $0.13
Affirm Holdings reported fiscal third-quarter revenue of $1.039 billion, beating analyst estimates by more than 4 per cent, as GMV rose 35 per cent to $11.6 billion. Diluted EPS of $0.30 topped the $0.17 consensus and the stock rose 1.29 per cent after hours.
SoFi (SOFI) Q1 revenue beats, profit doubles, but unchanged 2026 guidance sinks stock 15%
SoFi Technologies reported record Q1 revenue of $1.10 billion and net income of $166.7 million, its tenth straight profitable quarter. The stock fell 15 per cent on the day after management left full-year guidance unchanged.
Visa Q2 revenue jumps 17% to $11.23bn, strongest growth since 2022
Visa reported Q2 revenue of $11.23bn, up 17% year over year and $480m above consensus, its strongest top-line growth since 2022. Adjusted EPS of $3.31 beat by $0.22. The company raised full-year guidance and authorized a $20bn buyback, sending shares higher after hours.
Block Q1 beats by $0.17, raises FY26 gross profit outlook to $12.33B
Block reported Q1 adjusted EPS of $0.85, beating consensus by $0.17, as gross profit rose 26% to $2.91B. The company raised its full-year 2026 gross profit outlook to $12.33B, sending shares up 9.8% in after-hours trading.
Robinhood bets prediction markets can fill crypto revenue gap
Robinhood is positioning its prediction markets subsidiary as the next growth engine after crypto transaction revenue fell 47 per cent year over year in the first quarter, betting its 27.4m funded customer base can outscale dedicated platforms Kalshi and Polymarket.
BofA taps UBS tech dealmaker Hardegree as M&A vice chair
Bank of America has hired veteran technology banker Richard Hardegree from UBS as a vice chair of M&A, an internal memo shows, adding more than three decades of semiconductor dealmaking experience as global transaction volumes surge past $2 trillion in 2026.
Wall Street banks plan final push to ease capital charges before November vote
Bank Policy Institute and Financial Services Forum push Fed, OCC and FDIC for two more concessions on the G-SIB surcharge and undrawn credit-line capital, hoping to lock in further Basel III endgame relief before November midterms.
Mastercard ties up with Yellow Card to push stablecoin rails across EEMEA, opens with five-country pilot
Mastercard signed a partnership on Wednesday with African crypto-payments operator Yellow Card to roll out dollar-stablecoin payment infrastructure across Eastern Europe, the Middle East and Africa, with pilots in Ghana, Kenya, Nigeria, South Africa and the UAE.
Eli Lilly prices $9bn eight-tranche bond, biggest-ever sale to fund $13bn M&A push
Eli Lilly priced $9bn of investment-grade bonds across eight tranches on Wednesday, its largest-ever debt sale, to fund the Centessa and Kelonia acquisitions. The 40-year tranche tightened 33 basis points from initial price talk to 80bp over Treasuries.
