Capital One profit beats estimates

Capital One Financial posted an adjusted first-quarter profit yesterday that topped Wall Street estimates, as customers borrowed more from the credit card company-turned-bank. As the US economy begins to add jobs and gain strength, consumers have become more comfortable with taking on debt and commercial businesses have been borrowing as they look to lock in low interest rates. Including a purchase gain related to its ING Direct deal, the company earned $1.4bn (£871m), or $2.72 a share, compared with $1bn, or $2.21 a share, a year ago, it revealed.