Latest news with #Michigan-based
Mint
2 days ago
- Business
- Mint
UK Mobile Bank Starling Looking to Buy a US Lender in Expansion
Starling Bank, one of the UK's largest mobile-only banks, is looking to buy a nationally chartered bank in the US to continue the firm's expansion in the market, according to a person with knowledge of the matter. The London-based company is initiating talks to hire US bankers this summer to begin the acquisition process, with a particular focus on firms located on the East Coast with assets of around $2 billion, according to the person, who asked not to be identified discussing information that isn't public. Starling made its first foray into the US earlier this year when it announced it would make its banking technology available in the market and registered a subsidiary in Delaware. The goal is to buy a bank with digital offerings that are outdated and could be improved with Starling's modern banking technology, the person said. A spokesperson for Starling declined to comment. The move may be easier to make now than it would've been during Joe Biden's presidency, when regulatory scrutiny stymied deals, particularly among banks. Aside from mergers and acquisitions, financial-technology companies may pounce on the opportunity to obtain banking charters amid lighter regulation under President Donald Trump's administration. The US has had a robust fintech sector for many years, with its peak occurring during the pandemic, followed by lower company valuations and less funding. Fintechs have rebounded somewhat more recently, with Circle Internet Group Inc. and Chime Financial Inc. making their trading debuts earlier this month and Ramp raising $200 million in funding. Starling Chief Executive Officer Raman Bhatia took over the top role last year after founder Anne Boden exited the job in 2023. Soon after Bhatia joined Starling, the company was fined £29 million for its allegedly lax handling of risky customers between September 2021 and November 2023. Among Starling's UK competitors, Revolut Ltd. and Monzo Bank Ltd. have yet to acquire US bank licenses, while OakNorth agreed earlier this year to buy Birmingham, Michigan-based Community Unity Bank. With assistance from Aisha S Gani. This article was generated from an automated news agency feed without modifications to text.
San Francisco Chronicle
3 days ago
- Business
- San Francisco Chronicle
Steelcase: Fiscal Q1 Earnings Snapshot
GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Steelcase Inc. (SCS) on Wednesday reported net income of $13.6 million in its fiscal first quarter. On a per-share basis, the Grand Rapids, Michigan-based company said it had profit of 11 cents. Earnings, adjusted for one-time gains and costs, came to 20 cents per share. The office furniture maker posted revenue of $779 million in the period. For the current quarter ending in August, Steelcase expects its per-share earnings to range from 36 cents to 40 cents. The company said it expects revenue in the range of $860 million to $890 million for the fiscal second quarter. _____
San Francisco Chronicle
3 days ago
- Business
- San Francisco Chronicle
MillerKnoll: Fiscal Q4 Earnings Snapshot
ZEELAND, Mich. (AP) — ZEELAND, Mich. (AP) — MillerKnoll, Inc. (MLKN) on Wednesday reported a loss of $57.1 million in its fiscal fourth quarter. The Zeeland, Michigan-based company said it had a loss of 84 cents per share. Earnings, adjusted for pretax expenses and restructuring costs, were 60 cents per share. The furniture maker posted revenue of $961.8 million in the period. For the current quarter ending in August, MillerKnoll expects its per-share earnings to range from 32 cents to 38 cents. The company said it expects revenue in the range of $899 million to $939 million for the fiscal first quarter. _____
Yahoo
3 days ago
- Business
- Yahoo
Steelcase: Fiscal Q1 Earnings Snapshot
GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Steelcase Inc. (SCS) on Wednesday reported net income of $13.6 million in its fiscal first quarter. On a per-share basis, the Grand Rapids, Michigan-based company said it had profit of 11 cents. Earnings, adjusted for one-time gains and costs, came to 20 cents per share. The office furniture maker posted revenue of $779 million in the period. For the current quarter ending in August, Steelcase expects its per-share earnings to range from 36 cents to 40 cents. The company said it expects revenue in the range of $860 million to $890 million for the fiscal second quarter. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on SCS at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
MillerKnoll: Fiscal Q4 Earnings Snapshot
ZEELAND, Mich. (AP) — ZEELAND, Mich. (AP) — MillerKnoll, Inc. (MLKN) on Wednesday reported a loss of $57.1 million in its fiscal fourth quarter. The Zeeland, Michigan-based company said it had a loss of 84 cents per share. Earnings, adjusted for pretax expenses and restructuring costs, were 60 cents per share. The furniture maker posted revenue of $961.8 million in the period. For the year, the company reported a loss of $36.9 million, or 54 cents per share. Revenue was reported as $3.67 billion. For the current quarter ending in August, MillerKnoll expects its per-share earnings to range from 32 cents to 38 cents. The company said it expects revenue in the range of $899 million to $939 million for the fiscal first quarter. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on MLKN at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
