Wealth Enhancement has acquired Spectrum Wealth Management, an independent registered investment adviser (RIA) based in Irvine, California, US, along with its affiliated certified public accounting firm Putman Group. The transaction will add a team comprising an adviser, 14 financial professionals, and five support staff into Wealth Enhancement, overseeing more than $182m in client assets. Spectrum Wealth Management founder and principal Benjamin Ross Putman leads this team alongside Sanaz Afshar, Josep ...

State Bank of India (Canara Bank trims RLLRCanara Bank has cut its Repo Linked Benchmark Lending Rate (RLLR) by 25 basis points, bringing it down from 8.25% to 8%. The revised rate, which came into effect on December 12, 2025, directly mirrors the RBI’s repo rate reduction. Existing borrowers with loans linked to RLLR are soon to see a reduction in their EMIs or the loan tenure, depending on the terms of their loan agreement.Also read: PNB cuts RLLRPunjab National Bank has also announced a cut in its Repo L ...

Core Insights - ABM has announced a definitive agreement to acquire WGNSTAR for approximately $275 million, enhancing its position in the semiconductor and technology manufacturing markets [1][5][6] - WGNSTAR operates in the U.S. and Ireland, providing managed workforce solutions and equipment support services, generating over half of its revenue from integrated workforce programs [2][3] - The acquisition is expected to significantly expand ABM's semiconductor solutions portfolio to approximately $325 million in annual revenue, positioning it among the largest integrated service providers in North America [3][6] Transaction Overview - The acquisition will be funded through cash on hand and existing credit facilities, with the transaction expected to close in ABM's second fiscal quarter of 2026 [7] - WGNSTAR is projected to generate annual revenue of approximately $135 million in calendar 2025, with an anticipated annual growth rate of about 10% [5][6] - The acquisition is expected to be modestly dilutive to adjusted EPS in fiscal 2026 but accretive in fiscal 2027, driven by growth and synergy realization [6] Strategic Rationale - The growth potential in WGNSTAR's core services is significant, with a multi-billion-dollar addressable market that is currently underutilized [3] - The acquisition aligns with U.S. semiconductor onshoring initiatives and is supported by CHIPS Act incentives and record levels of private investment [3] - ABM aims to leverage WGNSTAR's expertise in semiconductor operations to meet the increasing demand for domestic semiconductor production [4]

A group of shareholders in digital bank Monzo reportedly want to reinstate its outgoing CEO.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.TS Anil is due to step down as head of the U.K. company in February, but t ...

Here are two stocks with buy rank and strong value characteristics for investors to consider today, Dec. 17:Bread Financial Holdings, Inc. (BFH) : This U.S.-based tech-forward financial services company that provides payment and lending solutions carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 22.2% over the last 60 days.Bread Financial has a price-to-earnings ratio (P/E) of 7.30, compared with 12.30 for the industry. The company possesses a V ...

HDFC Bank has received approval from India’s central bank, the Reserve Bank of India (RBI), for its subsidiaries to acquire up to a 9.5% stake in IndusInd Bank. The approval has been given to HDFC units, HDFC Mutual Fund, HDFC Life Insurance, HDFC ERGO General Insurance, HDFC Pension Fund Management, and HDFC Securities. These units are allowed to jointly purchase up to 9.5% of IndusInd Bank’s paid-up share capital or voting rights, within one year, until 14 December 2026. According to a report from Ko ...

Core Insights - Amazon is reportedly in discussions to invest approximately $10 billion in OpenAI, which could value the AI startup at over $500 billion [2][3] - OpenAI is preparing for an initial public offering (IPO) that could value the company at up to $1 trillion [3] - The investment discussions highlight OpenAI's ability to expand its partnership base after transitioning from its non-profit origins and finalizing its deal with Microsoft [4] Investment Details - The potential investment from Amazon may lead to a larger funding round involving other investors [2] - Amazon aims to utilize its Trainium chips, which compete with Nvidia and Google's offerings, in conjunction with OpenAI's technology [2] Strategic Partnerships - OpenAI is looking to sell an enterprise version of ChatGPT to Amazon, although it remains unclear if this includes integration into Amazon's shopping features [3] - The existing agreement with Microsoft grants exclusive intellectual property rights to OpenAI's technology until 2032, while allowing Microsoft to pursue artificial general intelligence (AGI) independently [5] Industry Trends - Companies are consolidating AI tools into unified platforms to support core workflows and manage operational complexities, marking a shift in enterprise AI adoption [6][7]

Nvidia stock rises Wednesday. But the chip maker faces an increasing number of rivals in the U.S. and China. ...

Bostic says Fed should pause rate cuts, Warner Bros. to tell shareholders to reject Paramount bid, Medline set to trade in IPO, and more news to start your day. ...

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