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The card network posted adjusted earnings of $3.48 a share and $12.1 billion in revenue, both ahead of Wall Street forecasts, as cross-border spending jumped 14% and processed transactions topped 74 billion for the quarter.
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A Bank of America survey found 37% of fund managers raised tech allocations in October, the most since 2020, while 45% simultaneously expect an AI bubble to form by 2027 — a contradiction playing out as hedge funds sell tech at their fastest pace in two years.
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A daily rundown of the business and market stories worth your time.
President Rodrigo Paz's push to scrap fuel subsidies and float the boliviano has unlocked a $1.9 billion IMF program and cheered investors, even as diesel price hikes of more than 80% stoke threats of renewed street protests.
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Andrew Cathy, grandson of founder Truett Cathy, says staying closed every Sunday is non-negotiable and a luxury of remaining a privately held, family-run business, even as Chick-fil-A posts some of the fast-food industry's highest sales per location.
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Both exports and imports hit all-time highs in the first half of Japan's fiscal year, but a surge in oil prices tied to the blocked Strait of Hormuz pushed the country's trade balance deep into the red.
3 min readBy Principle Post Staff
Onchain trading in tokenized US stocks and ETFs jumped roughly 18-fold since January, according to Dune Analytics data, as the SEC opened a regulatory pathway for tokenized American stocks to trade on blockchain networks.
By Principle Post Staff
By Principle Post Staff
By Principle Post Staff
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Principle Post Staff
Options protecting against further gains in US government bonds surged in price as 10-year yields dropped below 5% for the first time in about a month, with investors seeking safety amid rising oil prices and France's deepening fiscal crisis.
By Principle Post Staff
By Principle Post Staff
By Principle Post Staff
Principle Post Staff
As much of the AI industry pitches software that can shrink a sales force, one AI vendor's customer is going the other way — doubling headcount after tripling the productivity of each rep.
Distributable earnings slid to $1.72 billion in the third quarter as a historic jump in bond yields curbed deal activity, though the firm still beat analyst estimates and grew assets under management 10%.
S&P Global Ratings gave the UK digital bank a BBB+ rating and expects it to issue senior unsecured bonds next year to build capital buffers as its loan book expands rapidly.
Gucci's third-quarter sales fell 6% as weak store traffic in China continued to weigh on the brand, raising fresh doubts about parent company Kering's multiyear effort to revive it.
Png, who leads the roughly 40% of Temasek's S$518 billion portfolio held in Temasek Portfolio Companies, is set to take a board seat at the Singapore-listed real estate manager, according to people familiar with the matter.
Days after Citadel's Ken Griffin warned of an AI bubble, Blackstone President Jon Gray argued the AI buildout is different — demand, he says, is outrunning capacity rather than the other way around.
On Meta's third-quarter earnings call, CFO Susan Li laid out a plan to sell AI models, agents and business tools to enterprise customers — a potential new revenue stream beyond advertising.
Facing organized local opposition that has blocked tens of billions of dollars in projects, the biggest cloud and AI companies are offering more transparency and bigger community investments to win over skeptical neighbors.
Govra builds AI agents that turn government tax rules into automated audit workflows, and pilots in California and Indiana suggest the approach could sharply increase how many cases investigators can handle.
Governor Kathy Hochul is enrolling New York in the federal Education Freedom Tax Credit from Trump's tax law, making it the second Democratic-led state to join a program her own legislative leaders urged her to reject.
A waterfront mansion in Golden Beach, Florida sold for a record $69.5 million through a Delaware entity, with real estate sources pointing to Jeff Bezos as the buyer, about 30 minutes from his $237 million Indian Creek compound.
Meta posted its 17th straight quarterly revenue beat and a jump in Muse AI sign-ups, but free cash flow turned negative as the company's AI buildout outpaces what the ad business can fund.
Dallas-based KDC is lining up roughly $3.5 billion in credit tenant lease financing, backed by AT&T's future lease payments, to fund construction of the carrier's sprawling new global headquarters in Plano.
Direct lenders raised record sums this year even as deal volume shrank, leaving funds flush with capital and fewer places to put it — a mismatch that's pushing firms to compete harder on price and terms for every deal.
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London Stock Exchange Group is acquiring credit intelligence provider Octus from Permira, a bet on private markets and fixed-income data as the exchange operator looks past AI-driven jitters over its stock.
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A high-end estate in Surrey's exclusive St. George's Hill enclave has been re-listed with a 23% price cut, the latest sign of wealthy residents offloading UK property as they relocate abroad.
2 min read
A string of Ukrainian drone strikes on Yandex, Sberbank and VKontakte facilities this month has knocked out Russian cloud, banking and AI infrastructure that experts say could take years to rebuild.
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