European fintech giant Revolut is close to applying for a bank charter in California

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Nikolay Storonsky is the founder and CEO of fintech start-up, Revolut.

Revolut, the biggest European digital bank with 13 million users, is close to applying for a banking license in the U.S., CNBC has learned exclusively.

The London-based fintech firm plans on applying for a charter with the Federal Reserve Bank of San Francisco and California’s Division of Financial Institutions within weeks, said people with knowledge of the matter.

The move from Revolut, valued at $5.5 billion in a February fundraising round, is the latest example of one of a new breed of digital challengers seeking to become a

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Dillard’s jumps 15% after one of Buffett’s investing lieutenants discloses personal stake

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Dillard’s department store.

Source: Zereshk | Wikipedia

Shares of Dillard’s jumped 15% during premarket trading on Monday after one of Warren Buffett’s investing lieutenants disclosed a personal stake in the embattled retailer.

According to filings with the Securities and Exchange Commission, Ted Weschler, who is an investment manager at Berkshire Hathaway, bought roughly 1.08 million shares of Dillard’s, or about 5.89% of shares outstanding.

The Friday filing shows that Weschler topped the 5% threshold on Sept. 29. The filing noted that the shares will be held in a trust on behalf of Weschler’s family members.

Shares of Dillard’s are down

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UK economy grew 2.1% in August, as recovery from the pandemic slows

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The White Lion pub seen at the Covent Garden. UK Covid-19 cases are now doubling every seven to eight days, Prime Minister Boris Johnson is considering national restrictions for a short period to “short-circuit” the virus.

SOPA Images | LightRocket | Getty Images

LONDON – The U.K. economy grew 2.1% in August on a monthly basis, as the country’s gradual recovery from the coronavirus crisis continued, albeit at a slightly slower pace.

August’s estimated growth in GDP (gross domestic product) was lower than expectations, with economists polled by Reuters expecting a monthly expansion of 4.6%. 

It follows an expansion of

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Stock futures rise as traders await for clues on new fiscal stimulus

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People walk by the New York Stock Exchange (NYSE) in lower Manhattan on October 02, 2020 in New York City.

Spencer Platt | Getty Images

U.S. stock futures rose on Thursday night as Wall Street continued to search for clarity surrounding a new potential fiscal aid bill.

Drew Hammill, deputy chief of staff to Nancy Pelosi, tweeted that the House Speaker and Treasury Secretary Steven Mnuchin spoke for 40 minutes earlier in the day. He noted that the conversation “focused on determining whether there is any prospect of an imminent agreement on a comprehensive bill. The Secretary made clear the

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