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ADQ To Purchase Odeabank

Global Finance

Abu Dhabi Development Holding Company (ADQ) has agreed to acquire a 96% stake in Bank Audi’s loss-making Turkish subsidiary, Odeabank, as the United Arab Emirates deepens economic relations with Turkey. This transaction aligns well with Bank Audi Group’s present strategic focus on its home market as well as its presence in Europe,” he added.

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Uber, Abiomed, Peloton, Carvana, Molson Coors and more

CFO News Room

SoFi – The fintech company jumped 10% on the back of a smaller-than-expected quarterly loss and revenue that exceeded analysts’ forecasts. Stryker – The medical technology company dropped 4% after cutting its outlook due to inflation and foreign exchange pressures. billion forecast. Source link.

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World’s Best Banks 2024: Global Winners

Global Finance

The banks “failed as a result of a combination of unrealized interest rate losses from their long-term, fixed-rate assets and the loss of the low-rate deposits that had funded these assets,” Larry Wall, research center executive director of the Atlanta Fed’s Center for Financial Innovation and Stability, explained in a blog post.

Banking 111
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MUFG Invests $700M In Ride-Hailing Grab To Create Super-App

PYMNTS

MUFG posted a quarterly loss this month for the first time in 10 years, and it was forced to chop annual profit forecasts after dealing with a large charge on the Indonesian bank acquisition. billion) over allegations that they worked together to manipulate the foreign exchange market. billion euros ($1.16

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Embracing AI-driven automation for digital transformation

Future CFO

Chung notes that they are now seeing technological advancements drive real impact across everything from forecasting to fraud detection. She adds that forecasting is another area where AI is making a big difference, as it is helping finance teams improve the accuracy of revenue and cash flow projections, even in volatile market conditions.

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Corporate FinServ Shows Muted Performance In Latest Earnings

PYMNTS

While the small business customers of FairFX propelled the company to post its first-ever profit, corporate customers of Opus and UBS reported more muted figures on dampened corporate lending amid higher market volatility. Most notably, the company posted its first-ever profit, landing more than $319,000 in pretax profit compared to a $1.95

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Transcript: Kenneth Tropin

Barry Ritholtz

And so, you know, it was relatively, I wouldn’t say straightforward because I don’t think generating consistent profits has ever been something that’s so straightforward or so easy. And it’s always going to expect to lose some of those profits when the trend reverses, but still end up capturing the meat of the trend.