Leadership Shake-Up at HSBC
HSBC, Europe’s largest bank, has made headlines with the unexpected retirement announcement of Group Chief Executive Noel Quinn. This news coincides with the release of the bank's first-quarter financial results, re...
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...
Goldman Sachs Shines
Goldman Sachs Group Inc.’s stock surged by an impressive 3.7% in premarket trade on Monday, following a stellar first-quarter earnings report. The bank reported a remarkable net income of $3.93 billion, marking a...
CEO Succession Secrets
JPMorgan's board is actively prioritizing an orderly CEO transition, marking a significant moment as Jamie Dimon concludes his 18-year tenure at the helm of the largest U.S. bank by assets.
Since 2006, Dimon's leadership has ...
Oaknorth Rockets to Record Profits
Challenger bank Oaknorth celebrates a remarkable fiscal year marked by soaring profits and ambitious expansion plans, signaling its potential entry into the public market.
In a stellar display of financial prowess...
Banking on Redemption
Shares of New York Community Bank (NYCB) surged on Thursday, propelled by news of a $1 billion rescue orchestrated by former Treasury Secretary Steven Mnuchin and his firm, Liberty Strategic Capital.
Financial Turbulence and R...
Currency Rollercoaster
The Japanese yen dipped significantly after comments by BOJ Governor Kazuo Ueda hinted at a shift from the bank's negative interest rate policy. Meanwhile, the US dollar reboun...
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...
After the close of trading
On Friday, the US stock market experienced a fall, with negative dynamics from the financial, industrial, and commodity sectors.
The Dow Jones dropped by 1.07% to reach a three-month low, while the S&P 500 and NASDAQ ...
Citi Mexico unit to be sold
Citigroup is close to completing a deal to sell its Mexico unit. The Financial Times reported this on Monday, specifying that the deal could be worth between $6bn and $8bn.
According to the newspaper, billionaire Germ&aa...
US recession
The US may be able to avoid a recession despite an interest rate hike by the Federal Reserve. Agustin Carstens, general manager of Bank for International Settlements (BIS), expressed this view.
"The latest US labour market and business...
Compensation from South Korea
The International Centre for Settlement of Investment Disputes (ICSID) has ordered the Republic of Korea to pay $216 million to US-based Lone Star Funds.
Investment firm Lone Star&nbs...
The report and the bank's shares
Goldman Sachs (GS) shares are falling following a fourth-quarter earnings report worse than forecast by Wall Street analysts. Goldman Sachs, like JPMorgan earlier, reported a drop in financia...
Reports from companies
This week's financial reports will be released by Goldman Sachs, Bank of America, Netflix, UnitedHealth, Alcoa and others. Wall Street analysts give their predictions on what investors s...
JPMorgan after report
JPMorgan Chase (JPM) shares fell sharply on Friday, even though the biggest US bank posted earnings per share and final quarter 2021 earnings above Wall Street forecas...
Shares Fall
Shares of payments systems giant Visa (V) fell sharply Wednesday amid a Wall Street Journal report that the U.S. Justice Department is looking into the financial incentives Visa gave to Square, Stripe and Pa...
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...
Global business
According to a recent study by Euler Hermes, the number of global business failures will increase by 15% by 2022, when government support programs will end in a pandemic. Companies in these countries will be the hardest hit.
Despite...
The value of the dollar fell
The US dollar fell below yearly highs against major peers on Tuesday as traders waited for key US jobs data later in the week for clues on the timing of the Federal Reserve's stimulus cuts and the start of interest rate ...
Bond yields continue to rise
Bond yields rose sharply last week and market experts see preconditions for a further rise. This will not necessarily be reflected in a fall in the stock market, but analysts point to opposite reactions of equities, depe...
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