Fintech start-up TransferWise gets FCA approval to offer investments

spike

TransferWise co-founders Kristo Käärmann and Taavet Hinrikus.

TransferWise

Financial technology firm TransferWise has obtained a license from the U.K. markets watchdog to offer retail investment services to clients.

The London-based firm started life as a means of sending money internationally online. In 2018, it made a deeper push into banking by offering a “borderless” multi-currency account tied to a debit card.

Now, TransferWise plans to launch a service that lets users of the account invest passively in investment funds from third-party providers. The company said Wednesday that it had received permission from the U.K.’s Financial Conduct Authority to deal in

Read More

Stock futures flat after the market notches its best quarter in decades

spike

A man wearing a protective mask sits on top of the Charging Bull sculpture near Wall St. amid the coronavirus pandemic on April 19, 2020 in New York City, United States.

Alexi Rosenfeld | Getty Images

Stock futures were flat in overnight trading on Tuesday as the market is set to kick off a new quarter after a remarkable comeback.

Futures on the Dow Jones Industrial Average fell about 25 points. The S&P 500 futures and the Nasdaq 100 futures were little changed. Trading volumes were thin. 

The market just notched its best quarter in decades as it snapped back

Read More

FedEx, Facebook, Virgin Galactic and more

spike

A FedEx employee wearing a protective mask and gloves loads boxes into a truck amid the coronavirus pandemic on April 28, 2020 in New York City,

Alexi Rosenfeld | Getty Images

Check out the companies making headlines after the bell.

FedEx — The shipping company’s stock climbed 9% after the closing bell following its release of fourth-quarter earnings. The shipping company reported earnings of $2.53 per share on revenues of $17.36 billion, beating analysts’ estimates of $1.52 per share on revenues of $16.4 billion, according to Refinitiv. The company reported a $125 million increase in coronavirus-related operating costs. Shares

Read More

UAW officials want GM to close SUV plant in Texas due to coronavirus

spike

Chevrolet Tahoe sports utility vehicles (SUV) wait for final inspection before being driven off the production line at the General Motors Co. (GM) assembly plant in Arlington, Texas.

Matthew Busch | Bloomberg | Getty Images

Officials of a local chapter of the United Auto Workers union have asked General Motors to temporarily close its large SUV plant in Arlington, Texas, because of the resurgence of Covid-19 cases in the state.

“Due to the most recent data on the Covid -19 outbreak, the Bargaining Committee has asked General Motors to shut down Arlington Assembly until the curve is flattened for the

Read More