Finance, Banking & Insurance

United States – October 31, 2026 -- BlackBird Financial LP returned 62.2% in 2025 with a portfolio of fewer than ten holdings, against a 17.9% gain for the S&P 500, according to the firm's account of its investment approach.

Spinner holds fewer than ten stocks under a 'punchcard' model

Founder and Chief Investment Officer Judah Spinner calls the strategy the "punchcard approach." It borrows from Warren Buffett's metaphor of an investor limited to twenty investments over a lifetime. Each holding is a researched thesis on the structural dynamics of a whole industry, not a single stock pick.

Spinner's investments in offshore support vessels and building materials distribution followed months of study. The work covered the competitive landscape, supply-side constraints and long-term demand drivers.

United States – October 31, 2026 -- Judah Spinner's BlackBird Financial has built a significant ownership position in Fiserv, Inc., a company that generated more than $5 billion in adjusted net income over the past twelve months and carries a market capitalization of around $33 billion.

BlackBird is a hedge fund modeled on the Buffett Partnership of the 1950s. The announcement did not state the size of the stake. Spinner said the fund looked past Fiserv's short-term difficulties and focused on its long-term position.

BlackBird rules out activism and backs CEO Mike Lyons

Spinner said BlackBird will not pursue an activist role and fully supports management. "Our intention is to be long-term partners," he said.

He expects the next couple of years to be hard for Fiserv under new CEO Mike Lyons. Spinner said Lyons's decisions today will build a stronger, more resilient business over the next decade.

Richmond, Indiana – October 31, 2026 -- Richmond Mutual Bancorporation (NASDAQ: RMBI) reported third-quarter 2026 net income of $1.7 million, or $0.11 per diluted share, down from $3.6 million, or $0.36, a year earlier. A $6.1 million credit-loss provision and $3.0 million of nonrecurring merger costs outweighed a near-doubling of net interest income after the Farmers Bancorp acquisition.

Second-quarter net income was $2.2 million, or $0.22 per share. For the nine months ended September 30, net income fell to $6.8 million, or $0.56 per share, from $8.2 million, or $0.82, in the same period of 2025.

Spain – October 31, 2026 -- Banco Santander reported a record underlying profit of €11,176 million for the first nine months of 2026, up 16% year-on-year, as the TSB and Webster acquisitions lifted its customer base to 189 million. Attributable profit rose 20% to €12,405 million.

Disposal gain lifts attributable profit above underlying result

Attributable profit includes a €1.9 billion net capital gain from the completed sale of Santander Bank Polska in January. This was partly offset by €666 million in charges, including integration costs tied to TSB and Webster. Underlying results exclude these non-recurring items.

Underlying return on tangible equity (RoTE) reached 16.0%, up 1.1 percentage points. Statutory earnings per share rose 25%, and tangible net asset value plus cash dividend per share rose 11%.

Madrid – October 31, 2026 -- Banco Santander cut costs by more than 50% in an experimental customer-service use case while improving conversation quality, and has now signed a three-year AI collaboration framework with NVIDIA.

Smaller models cut serving costs from €5 to €0.03 per interaction

Santander AI Lab has moved progressively from large general-purpose models to smaller, specialised models built for specific banking tasks. In selected experimental use cases, serving costs fell from around €5 per interaction to approximately €0.03, with performance maintained.

The Lab runs inference within Santander's own architecture on NVIDIA Dynamo-Triton, the approach behind the serving-cost reduction.

Arlington, Va. – October 31, 2026 -- Navy Mutual Aid Association has awarded Lacey Langford, founder of MILMO and MilMoneyCon, its Lieutenant Timothy Dix Bolles Excellency in Education Award for 15 years of financial education work with the military community.

Langford's 15-year record spans MILMO, The MILMO Show and MilMoneyCon

Langford, an Air Force veteran and military spouse, has spent 15 years educating the military community on the financial opportunities and challenges that come with service. Through MILMO, The MILMO Show and MilMoneyCon, she has expanded financial literacy and strengthened collaboration across the military-connected community.

Navy Mutual's Education team has attended and presented at multiple MilMoneyCon conferences. Financial professionals use these events to connect and improve support for the service community.

Europe – October 31, 2026 -- The EU's Council Permanent Representatives Committee (COREPER) endorsed the trilogue texts of the Payment Services Directive 3 (PSD3) and Payment Services Regulation (PSR) in April 2026, with implementation targeted for 2028.

Adoption expected in late 2026, with 18-24 months to comply

The European Commission proposed both measures in June 2023. The agreed compromise texts have since been published. Formal adoption and publication in the Official Journal are expected in late 2026, and the legislation is set to enter into force 20 days after publication.

Payment providers are expected to receive a transition period of 18 to 24 months before the rules become fully applicable.

NEW YORK – October 31, 2026 -- Okta Inc. (NASD: OKTA) will move from the S&P MidCap 400 into the S&P 500, replacing Kenvue Inc. (NYSE: KVUE), S&P Dow Jones Indices announced. The changes take effect before the opening of trading on Wednesday, November 4.

Kenvue exits the S&P 500 as Kimberly-Clark moves to acquire it

S&P 500 constituent Kimberly-Clark (NASD: KMB) is acquiring Kenvue. The deal is expected to be completed soon, pending final closing conditions.

Glaukos and McGrath RentCorp move up the index chain

Okta's promotion triggers two further changes:

Kingman – October 31, 2026 -- Assuming a company sale will fund retirement is the first and most critical planning mistake Arizona business owners make, according to Kingman financial expert Scott Preston, featured in a HelloNation article titled "Top 7 Retirement Planning Mistakes Business Owners Make in Arizona."

Sale proceeds depend on market conditions, buyer demand and seller health

Each of those factors can shift before a sale closes, and a plan built on a single transaction can fall short. The article recommends building personal savings early, separate from the business.

SEP IRAs and solo 401(k)s offer income outside the company

The feature points to SEP IRAs and solo 401(k)s as vehicles that let savings grow independently of company performance while carrying tax advantages.

NEW YORK – October 30, 2026 -- OPay begins trading on the New York Stock Exchange under the ticker 'OPAY', with its IPO valuing the company at more than $4 billion, according to the NYSE's pre-market advisory.

OPay rings the Opening Bell with a market cap above $4 billion

NYSE Live will cover the listing, including executive remarks and an interview with Co-CEO Lars Boilesen. Connor Group Managing Partner Jim Neesen will give his latest assessment of the current IPO market.

Upwind secures $400 million Series C less than nine months after $250 million Series B

Upwind says the new capital will fund growth in product and engineering. The round follows a $250 million Series B raised less than nine months earlier. Co-founder and CEO Amiram Shachar will appear on the NYSE's Taking Stock program to discuss how the funds will help defenders protect against new risks in the AI era.