News Highlights: Top Financial Services News of the Day - Tuesday at 11 AM ET

Fed to Signal It Has Stomach to Keep Rates High for Longer 
 

Firmer price and wage pressures could lead longer-term rates to rise as investors continue paring back expectations of cuts.

 
PayPal's stock is climbing after earnings show progress on a key number 
 

PayPal sported 4% growth in transaction-margin dollars, whereas it saw a decline on the metric in the fourth quarter.

 
'Empty Chair Feeling' to Pervade Berkshire Meeting Without Munger 
 

Warren Buffett is the company's chief executive and the more famous investor-but Charlie Munger, who died in November, held a special place in the hearts of Berkshire fans.

 
Office-Loan Defaults Near Historic Levels With Billions on the Line 
 

More than $38 billion of U.S. office buildings face loan defaults, foreclosures or other forms of distress, the highest amount since 2012.

 
HSBC's CEO Steps Down After More Than Four Years 
 

Noel Quinn steered the bank through a tumultuous period, and sharpened its focus on Asia.

 
GM in Talks to Move Credit-Card Business From Goldman to Barclays 
 

The deal including roughly $2 billion of card balances could be struck by summer.

 
BBVA Seeks Merger Talks With Sabadell 
 

Banco Bilbao Vizcaya Argentaria is pursuing merger talks with smaller peer Banco de Sabadell, seeking another shot at a Spanish banking tie-up that fell apart in 2020.

 
Santander Confirms Outlook Despite Profit Miss 
 

Santander posted a below-forecast rise in first-quarter net profit, for the first quarter, but said it was on track to meet its key 2024 financial targets.

 
Australian Pension Fund UniSuper Grows Private Credit Exposure 
 

UniSuper, one of Australia's largest pension funds, has been growing its exposure to private credit, holding roughly US$660 million in dry powder, which could be directed toward the booming asset class.

 
Why global gold demand marked its best first quarter in 8 years 
 

Gold demand marked its strongest first quarter in eight years, buoyed by "healthy investment" from the over-the-counter market as well as central bank purchases, which saw their best start to any year on record, according to a report from the World Gold Council released Tuesday.

(END) Dow Jones Newswires

April 30, 2024 11:15 ET (15:15 GMT)

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