Banking & Financial Services

Waddell & Reed Assets Under Management Plunge

Overland Park-based wealth-management firm Waddell & Reed's assets under management took a plunge from February to March, dropping from $65 billion to $56 billion. The fall has taken place as the stock market saw extreme volatility during that time frame.… more

Commerce Bancshares Delays Quarterly Filings

Kansas City-based Commerce Bancshares has delayed its quarterly financial filings from April 14 to April 28, due to problems posed by COVID-19. It follows another large area public company, Seaboard Corporation, which has changed its annual meeting location on April… more

Banks Cleared to Make Relief Loans

Federal relief for small businesses slammed with cash-flow challenges during the COVID-19 recession has begun flowing, as banks have the green light to begin making loans under the CARES Act’s Paycheck Protection Program. PPP has set aside $349 billion for… more

Unemployment Claims Unfortunately Break More Records

The unemployment picture in the United States has gotten a lot more grim, due to COVID-19 shock waves. For the week ended March 28, unemployment claims hit 6.448 million, a new record since the numbers have been tracked by the… more

House Passes Major Stimulus Package

The U.S. House of Representatives today passed a record  $2-trillion stimulus bill to help individuals and businesses recover financially from COVID-19. An NBC News report breaks down how much of stimulus check that one will receive: "If you made less… more

Small Businesses Take a COVID-19 Hit

About 56 percent of small businesses say they are impacted negatively by COVID-19, according to a recent report from Kansas City-based customer conversion and retention platform Bellwethr. While 55.5 percent said they are feeling negative impacts, 44.4 percent said that… more

Mayor Lucas Issues State of Emergency

Mayor Quinton Lucas has issued a State of Emergency in Kansas City that will last for an initial 21 days in order to prevent the spread of the COVID-19 virus. One of the main conditions of the order issued prohibits… more

KC Software Firm Raises $9M For Cloud Security

Internet security is becoming increasingly important for businesses today, and a Kansas City-based company is reaping the rewards of that demand. DisruptOps Inc. recently received $9 million in Series A financing from Columbus, Ohio-based Drive Capital, a new investor for… more

U.S. Job Report Strong Amid Coronavirus Concerns

The global coronavirus outbreak hasn't hurt the strong U.S. labor market ... yet. Unemployment in February dropped slightly, to 3.5 percent from 3.6 percent in January, according to the U.S. Bureau of Labor Statistics. Meanwhile, national payrolls rose by 273,000… more

Waddell & Reed Signs Lease to Move Downtown

Waddell & Reed has signed a lease to move its headquarters from Overland Park into a yet-to-be constructed building in Downtown Kansas City, and company management expects construction to start within two months. The plans, forecast for completion in 2022,… more