India’s Pine Labs eyes $4-5 billion in monthly payments volume from new business

MUMBAI, Aug 5 (Reuters) – India’s Pine Labs is targeting $4 billion to $5 billion in monthly transactions within two years for its new online payments business, its chief executive told Reuters. At that point, online payments should contribute 20% of revenue, Pine Labs chief executive Amrish Rau said, disclosing the company’s targets for the … Read more

From boom to gloom, Australia’s red hot property market hits reverse

SYDNEY, Aug 1 (Reuters) – This April, Australian home repairman Reis Saki put his parents’ house on the market in Melbourne’s outskirts, with hopes of a quick sale so they could move closer to family and health services. But six weeks and two interest rate hikes later, he withdrew the listing after receiving no offers, … Read more

Analysis: Investors gauge US stocks rebound: ‘suckers’ rally’ or market bottom?

NEW YORK, July 27 (Reuters) – As investors await another jumbo-sized rate increase from the Federal Reserve, they are taking the temperature of a weeks-long US stock market rally that followed a vicious first-half selloff. Even after Tuesday’s sharp fall, the S&P 500 remained up 7% from its June 16 low, buoyed in part by … Read more

Japan’s Sumitomo Mitsui Financial posts 24.2% jump in Q1 net

Sumitomo Mitsui Banking Corporation’s signboard is pictured at its branch in Tokyo, Japan, January 25, 2017. REUTERS/Kim Kyung-Hoon/File Photo Register now for FREE unlimited access to Reuters.com Register TOKYO, July 29 (Reuters) – Japan’s second-largest bank, Sumitomo Mitsui Financial Group Inc (8316.T), reported on Friday an increase of 24.2% in first-quarter net profit as improved … Read more

India’s Bajaj Finance jumps most in two years as profit tops estimates

BENGALURU, July 28 (Reuters) – Shares of Bajaj Finance (BJFN.NS) on Thursday surged 10%, the most in more than two years, after the non-bank lender’s quarterly profit blew past estimates on strong customer additions and lower bad loans provisions. The company on Wednesday said its profit more than doubled to 25.96 billion rupees ($325.37 million), … Read more

Indian shares rise as Bajaj Finance, L&T jump on strong results

A man wearing a protective mask walks past the Bombay Stock Exchange (BSE) building in Mumbai, India, March 13, 2020. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register BENGALURU, July 27 (Reuters) – Indian shares rebounded on Wednesday after a shaky start to the week, closing 1% higher, as Bajaj Finance and … Read more

Provident Financial returns to interim profit as wind-down costs fall

Provident Financial Group logo is seen on a smartphone in front of displayed stock graph in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register July 27 (Reuters) – British subprime lender Provident Financial (PFG.L) returned to interim profit on Wednesday, as costs related to the wind-down … Read more

Analysis: Investors gauge US stocks rebound: ‘suckers’ rally’ or market bottom?

A Wall Street sign outside the New York Stock Exchange in New York City, New York, US, October 2, 2020. REUTERS/Carlo Allegri/File Photo Register now for FREE unlimited access to Reuters.com Register NEW YORK, July 27 (Reuters) – As investors await another jumbo-sized rate increase from the Federal Reserve, they are taking the temperature of … Read more

US consumer watchdog to scrutinize crypto payments, Big Tech moves into finance director

WASHINGTON, July 27 (Reuters) – The top US consumer watchdog plans to scrutinize the use of cryptocurrencies for real-time payments and ramp up oversight of Big Tech companies as they expand into the traditional financial sector, its director told Reuters. The Consumer Financial Protection Bureau (CFPB) will also publish a report this fall on “buy-now, … Read more

US new home sales drop to two-year low in June

A “For Rent, For Sale” sign is seen outside of a home in Washington, US, July 7, 2022. REUTERS/Sarah Silbiger Register now for FREE unlimited access to Reuters.com Register WASHINGTON, July 26 (Reuters) – Sales of new US single-family homes dropped to their lowest level in just over two years in June, the latest sign … Read more