ExlService Q2 Earnings: Excellent Smaller Player in the BPM Market (NASDAQ:EXLS)
metamorworks/iStock via Getty Images Introducing ExlService ExlService (NASDAQ:EXLS), a business process management company, provides analytics and operations management services to clients. The company provides business process outsourcing, automation and data solutions to clients in diverse industries, including insurance, healthcare, utilities, banking and finance, travel and retail, among others. The The company operates in four segments: analytics, insurance, healthcare and emerging markets, depending on the areas it serves. The majority of the company’s sales are in the United States and more than half of the company’s revenue is derived from business process management and related services. Sector perspectives The field of…
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Financials Roundup: Disappointing Earnings Drive Week’s Biggest Drops (NYSE:RNR)
allanswart/iStock via Getty Images Four of the five biggest decliners in financial stocks reported a miss in their latest quarterly results this week, while most of the top five climbers were non-U.S.-based companies. Cincinnati Financial (NASDAQ: CINF), downward 12%fell the most among all financial stocks with a market capitalization of more than $2 billion in the week ended July 29, after the insurer Second quarter earnings and revenue behind Wall Street expectations as loss ratios were high of recent times; Bread Financial Holdings (NYSE: BFH), formerly Alliance Data Systems, dropped 10%as the credit card issuer also reported a double miss…
Read More »Live News from July 15: Copper rout worsens on recession fears, Sri Lankan president steps down
England is bracing for temperatures in excess of 40C, which would break the record set three years ago, prompting the UK’s National Weather Service to issue its first “red warning for exceptional heat”. “Early next week is likely to see exceptional temperatures, perhaps record highs,” said Paul Gundersen, the UK’s chief meteorologist. “There is a 50 per cent chance that we could see temperatures above 40C and an 80 per cent chance that a new maximum temperature will be reached.” He warned that this level of heat “may have adverse health effects”. The severe weather warning for Monday and Tuesday…
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4th of July Live News Updates: Ukraine National Recovery Plan to Cost $750 Billion, Inflation in Turkey Approaching 80%
Welcome to independence week. The big one, the celebration of 1776 and all, starts Monday in the United States. But from Algeria to Venezuela, Argentina to South Sudan, disengagement from former colonial powers is a strong theme — and a source of holiday cheer around the world — over the next seven days. However, for those of us trying to work (or continue with) work, this will not be a week of celebrations. French rail workers will go on strike on Wednesday, days before the country’s school holidays begin. Then there is the drama of the British summer of discontent….
Read More »Banks are bracing for a deal slowdown
Wall Street’s latest deal boom began to falter in 2022. The industry is bracing for the slowdown to drag on into the second half of the year. Stimulus by governments and central bankers in response to the pandemic led to a rapid recovery from a recession and exuberant capital markets. That recovery, along with changes in the way customers and businesses operate, sent executives shopping for deals. A large number of startups went public. The result was a bonanza for Wall Street. Goldman Sachs and Morgan Stanley posted record profits. They struggled to hire enough workers and paid billions of…
Read More »Private equity firms look to hire banks to serve wealthy investors: ‘There’s a career in banking talent’
Private equity managers are competing fiercely for talent as they try to develop their ability to raise money from wealthy individuals, a new and untapped source of capital for the industry. The biggest alternative asset managers have this year dramatically increased the pace of hiring in their private wealth divisions, the units focused on attracting capital from high-net-worth investors. This competition for market share and a relatively small pool of candidates has created intense competition for the best candidates and a wave of talent poaching from traditional financial services firms such as banks and mutual fund managers. Apollo Global Management,…
Read More »Barclays is set to bolster its Paris shopping center with bigger offices
Barclays is to move to a new, larger office in Paris as major banks increasingly develop their trading functions in the French capital after Brexit. The UK lender has signed a 12-year lease for a new French headquarters at 52 Avenue Hoche in Paris and will occupy the new space in 2024, it said in a statement. The 11,500 sq m space is set to be remodeled to accommodate Barclays’ sales and trading business in Paris, which is expanding following the UK’s departure from the European Union. It will include a gym, restaurant, meeting center, auditorium and landscaped spaces, the…
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Crypto prices rise as traders return to the digital asset market
Crypto traders are showing signs of renewed confidence, with the digital asset’s market capitalization surging by $280 billion in July after a painful sell-off and credit crunch that had spooked many market players. Investment products that track crypto assets have accumulated just under $400 million since the start of July, racking up the longest period of sustained weekly net inflows since March, according to data from the management group CoinShares crypto assets. “We are starting to see some bold investors come in [and] take. . . long positions, and people are not adding to short positions now,” said James Butterfill,…
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