Public Markets

Brix Holdings, the parent company overseeing restaurant and foodservice chains such as Friendly’s, Red Mango Yogurt Cafe & Juice Bar, Orange Leaf, Smoothie Factory + Kitchen, SouperSalad, and Pizza Jukebox, has appointed Rick Brown as is newest Chief Financial Officer (CFO). Brown, with a background of 14 years at TGI Fridays and prior experience at Blockbuster, brings his financial expertise to manage the financial and accounting functions across all BRIX Holdings brands...

As artificial intelligence (AI) reshapes business landscapes, CFOs find themselves at the forefront of strategic decision-making, playing a pivotal role in determining which AI projects receive funding and how extensively AI integrates into enterprise strategies. According to a CNBC survey, 47% of companies consider AI their top priority for tech spending in the next year, with AI budgets surpassing cloud computing spending by more than double...

In its recently released outlook for 2024, Bank of America (BofA) Global Research anticipates a global shift to rate cuts, predicting that disinflation will continue and both the Federal Reserve and European Central Bank (ECB) will begin cutting rates in the latter half of the year. BofA economists and strategists expect that the rate hikes observed over the past 18 months will ultimately weaken growth and lead to higher unemployment levels. However, they foresee a soft landing rather than a recession...

Sergio Ermotti, the Chief Executive Officer of UBS, has called for increased powers for Switzerland's financial regulator and sanctions for negligent bankers in the aftermath of the collapse of Credit Suisse. UBS played a crucial role in rescuing its former rival in March, marking one of the most significant bank takeovers since the 2008 financial crisis...

As the financial industry undergoes continuous transformation, the importance of quality digital services in banking is increasingly evident, influencing customer satisfaction and shaping competitive landscapes. A recent report by Susan Foulds from Keynova Group sheds light on key trends, emphasizing the growing significance of real-time payments (RTP), personal financial management (PFM) tools, and other innovative services...

As the economic landscape continues to evolve, Wall Street banks are divided on their predictions for the Federal Reserve's interest rate policy in 2024. UBS Group AG and Morgan Stanley anticipate more aggressive rate cuts, citing concerns about falling inflation and a lagging economy, while Goldman Sachs takes a more moderate stance...

Swiss banking giant UBS has made a significant move by resuming the issuance of Additional Tier 1 (AT1) notes, marking its first foray into this controversial financial instrument since the tumultuous Credit Suisse bailout. According to reports from the LSEG news service IFR, UBS is currently in the process of selling two tranches of U.S. dollar-denominated AT1 bonds. The offerings consist of a non-call five-year tranche with a yield of 10% and a non-call 10-year tranche offering a yield of approximately 10.125%. Notably, non-call bonds pay out solely at maturity...

In the face of economic uncertainty, CEO Richard Fairbank of Capital One Financial remains cautiously optimistic about consumers' credit card payment compliance. As family balance sheets stabilize, the financial giant is closely monitoring trends in late payments and charge-offs, seeking signs of normalization. In the third quarter, Capital One reported a slight increase in U.S. credit card charge-offs compared to the previous year, signaling that some users were falling behind on payments. However, this increase remained flat when compared to the second quarter...

In a strategic move reflecting confidence in their financial health, Wall Street behemoths Wells Fargo and JPMorgan recently turned to the debt market, capitalizing on robust net interest income and optimistic outlook projections. Wells Fargo issued $6 billion across two bonds, while JPMorgan executed a notable $7.25 billion, three-part sale...

In a strategic move to bolster its digital offerings, Wells Fargo (WFC.N) has announced the expansion of its financial planning tool, Life Sync, to over 70 million users. Originally introduced to wealth clients earlier this year, the mobile application empowers users to manage financial goals, monitor credit ratings, and connect with financial counselors...