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Financial Sector ETF Hits Record High on Fintech Gains
ETF Trends58d agobullish
Financial Sector ETF Hits Record High on Fintech Gains

Shares of the State Street Financial Select Sector SPDR ETF (XLF) touched a fresh all-time high Tuesday. That gain is part of a broader shift in the market. Money has moved out of high-flying tech names and into more traditional corners of Wall Street. Key Takeaways: XLF hit an all-time high of $57.33 Tuesday, lifting [...]

Investing.com58d agoneutral
Visa trims 7% of workforce as fintech belt-tightening spreads

Investing.com -- Visa Inc. (NYSE: V) shares gained 2% on Tuesday following reports that the payments behemoth plans to trim approximately 7% of its workforce. The restructuring will eliminate roughly 2,600 roles—primarily concentrated in tech and product divisions—according to an internal memo from CEO Ryan McInerney obtained by Bloomberg. The move follows a decade of massive expansion that saw Visa’s workforce more than triple to 34,100 employees. Capital freed up by the reductions will be rein

Bloomberg58d agoneutral
Visa to Cut 7% of Workforce as CEO Seeks to Revamp Company

(Bloomberg) -- Visa Inc. is eliminating about 2,600 jobs as Chief Executive Officer Ryan McInerney seeks to make the firm more efficient as it competes in an increasingly tough payments industry.Most Read from BloombergNvidia’s $750 Billion in Deals Reignite Circular AI FearsChip Rout Deepens on Circular Funding, China Competition FearsCitadel Securities Sees Warsh Delivering Surprise Fed HikeDeepSeek Suspends Fundraising After Viral US-China PostsS&P 500 Wobbles as AI Angst Offsets Oil Decline:

Visa plans to cut 7% of workforce, Bloomberg News reports
Reuters58d agoneutral
Visa plans to cut 7% of workforce, Bloomberg News reports

Visa plans to cut 7% of its workforce, or ‌about 2,600 jobs, Bloomberg News reported ‌on Tuesday, citing a staff memo, as the payments ​processor seeks to become more efficient in a challenging industry. AI has ⁠helped cut repetitive tasks and speed up product development, but it ⁠was not the sole factor behind the decision, Bloomberg reported, citing a person ​familiar with ​the company's reasoning. Earlier this year, peer Mastercard announced plans ‌to lay off 4% ​of its global workforce, ​citing the ​need to refocus investments in different ‌areas.

Block (SQ) Stock Could Be 22% Undervalued After Cash App Settlement
Simply Wall St.63d agoneutral
Block (SQ) Stock Could Be 22% Undervalued After Cash App Settlement

Block stock sits at an awkward valuation crossroads, with an intrinsic value estimate from the Excess Returns model pointing to meaningful upside while traditional market multiples paint a more demanding picture and the broader checks lean expensive after a 5 year stretch of weak returns. Block shareholders have seen the stock fall about 70.0% over the past 5 years, which means many investors are still sitting on heavy losses despite the more recent rebound. On the upside, new initiatives...

Bloomberg64d agobearish
Uber Cuts 10% of Customer Service Jobs, Citing ‘Embrace’ of AI

(Bloomberg) -- Uber Technologies Inc. said it has cut 10% of jobs within its customer service operations as part of a broader effort to simplify its ranks and “embrace artificial intelligence.” Most Read from BloombergTrump’s 100% Generic Drug Duty Threatens US Low-Cost SupplyApple Plans Overhaul of MacBooks, iMac in Push to Meet AI DemandHegseth Turns to UNC, Virginia Tech After Dropping Ivy LeagueApple to Launch ‘Upgrade’ Device Leasing Program With Klarna to Spur SalesTrump Extends Pardons to

Jack Dorsey's Block launches Slack rival
TheStreet64d agoneutral
Jack Dorsey's Block launches Slack rival

Block, Inc. (NYSE: XYZ), the Bitcoin (BTC)-centric financial technology company founded by Jack Dorsey, launched a new platform called Buzz on July 21. Built on the Nostr protocol, Buzz is a free, decentralized, and open-source platform where employees and artificial intelligence ...

Block (XYZ) Gets A Real World Test As Square Expands While Undervalued Narrative Holds
Simply Wall St.64d agoneutral
Block (XYZ) Gets A Real World Test As Square Expands While Undervalued Narrative Holds

Honolulu Cookie Company is expanding its use of Block (XYZ) through Square, rolling the platform out across 14 locations and a new flagship store, giving investors another real world view of Block's merchant reach. See our latest analysis for Block. For investors, this Honolulu Cookie Company rollout lands at a time when Block's short term momentum is firm, with a 30 day share price return of 7.49% and a year to date share price return of 23.38%. However, the 5 year total shareholder return...