Citi's New Leadership Leap
This week, Viswas Raghavan became Citigroup's head of banking in New York. Formerly with JPMorgan, his hiring earlier this year reflects Citi's strategy to strengthen its leadership. Citi CEO ...
Wells Fargo's Battle
Wells Fargo is pushing for the dismissal of a lawsuit brought by its former CEO, Timothy Sloan, who claims the bank owes him $34 million in compensation. Sloan filed the lawsuit in December, alleging that the bank reneged on pro...
Investor alert
Wells Fargo settles $1B class action lawsuit over mishandling of phony account scandal, ending a decade-long fallout.
Key Facts
Preliminary settlement: The $1 billion settlement figure was reported by the Wa...
Stock market on Friday
The US stock market ended Friday's trading with gains in the utilities, health care and consumer goods sectors.
At the close on the New York Stock Exchange, the Dow Jones was up 0.41 per cent, the S&P 500 was up 0.56 per ...
Partnership with Twitter
More than half of the advertisers partnering with Twitter have suspended their work with the company due to disagreement with the policies of its owner Elon Musk. This was reported by CNN on Monday.
Some 625 companies, incl...
Trading on Monday
The US stock market rallied strongly in early trading on Monday following the release of quarterly reports from Wall Street's biggest banks.
The Dow Jones Industrial Average had added 5...
Last day of trading this week
The US stock market ended Friday's trading lower on the back of negative dynamics from the oil and gas, commodities and technology sectors.
At closing time on the New York Stock Exchange, the Dow Jones fell 1.34%, the ...
Report from Bank of America
Bank of America's profit for the second quarter of this year fell by 32% compared to the same period in 2021. Such data are given in the bank's quarterly financial results report published on Monday.
The second-largest U...
Schedule for the week
The Dow Jones rose 0.40 per cent on Friday on the New York Stock Exchange, the S&P 500 fell 0.27 per cent and the Nasdaq Composite fell 1.34 per cent.
The US stock market ended Friday's trading multidirectional due to stre...
Stock futures rise
US stock index futures rose on Thursday after weaker-than-expected producer price data eased fears of a faster interest rate hike by the Federal Reserve while Delta Air Lines led gains among...
Market analysts and Pfizer stock
Pfizer's (PFE) share price could hit a new high in the coming days as the US FDA is expected to receive approval for its COVID pills as early as today. Market analysts are raising their forecasts for Pfizer shares on...
Record jump
Inflation in the US in October rose more than economists expected the consumer price index reached 6.2% compared to the forecast of 5.8%. The stock market reacted by lowering indices, with analysts expecting the negative t...
Shares rise on report backdrop
Shares of major US banks Bank of America (BAC), Morgan Stanley (MS), Wells Fargo (WFC) and Citigroup (C) rose at the premarket after the release of Q3 2021 reports. Banks' earnings and profits beat Wall Street expectat...
Company report
JPMorgan Chase (JPM) was the first major bank to report Q3 earnings and profits, its performance largely reflecting the state of the US economy and the strength of the financial markets.
JPMorgan Chase (JPM), the largest US bank by m...
Crisis in the making
Nasdaq Composite, S&P 500 and Dow Jones fell sharply on Monday, with the financial sector hardest hit shares of major US banks JPMorgan Chase (JPM), Goldman Sachs (GS) and others fell by 3% or more. The market sees risks in ...
Dividends and shares
The US banking sector and Wall Street as a whole received a positive signal after stress tests conducted by the Fed for 23 major US banks showed better capitalisation results than required by the ce...
The lifting of restrictions
The Fed will allow large US banks that have passed a round of stress tests with capital requirements to resume dividend increases as well as increase share buyba...
Anticipating the best quarterly report from NVIDIA
Nvidia (NVDA) plans to report revenue and profit for the third quarter of fiscal 2021 (beginning on 27 July and ending on 25 October 2020) on Wednesday after market closure. In the previous quarter,...
In April, when the federal government offered $349 billion in loans to small businesses reeling from government shutdown orders in the pandemic, the funding ran out in just 13 days, prompting Congress to swiftly approve a second round of $310 bi...
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