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Updated: 2 hours 14 min ago

Citigroup tops estimates for first-quarter revenue, helped by trading results

Fri, 04/12/2024 - 05:32
Citigroup CEO Jane Fraser has finished her sweeping corporate overhaul, including thousands of layoffs — now what?

Wells Fargo earnings top estimates even as lower interest income cuts into profits

Fri, 04/12/2024 - 05:08
Wells Fargo on Friday reported first-quarter earnings and revenue that beat Wall Street expectations, despite a decline in net interest income.

JPMorgan Chase is set to report first-quarter earnings — here’s what the Street expects

Thu, 04/11/2024 - 21:01
JPMorgan Chase will be watched closely for clues on how banks fared at the start of the year.

Physical gold offers more protection than mining stocks, says State Street’s George Milling-Stanley

Thu, 04/11/2024 - 16:00
Gold bars can be a valuable hedge during stock market weakness, according to gold expert George Milling-Stanley.

What to expect from bank earnings as high interest rates pressure smaller players

Thu, 04/11/2024 - 11:25
JPMorgan Chase, the nation's largest lender, kicks off earnings for the industry on Friday, followed by Bank of America and Goldman Sachs next week.

Goldman Sachs promotes head of strategy and investor relations, Carey Halio, to global treasurer

Thu, 04/11/2024 - 05:28
Halio's new role encompasses authority over the firm's more than $1.6 trillion balance sheet. She'll report to Chief Financial Officer Denis Coleman.

'Lose-lose situation': New Swiss bank laws could derail UBS' challenge to Wall Street giants

Thu, 04/11/2024 - 01:41
Switzerland's new banking regulations create a "lose-lose situation" for UBS and may limit its potential to challenge Wall Street, says Beat Wittmann of Porta Advisors.

China's commercial property segment is seeing some bright spots amid a slump in the wider realty sector

Wed, 04/10/2024 - 17:29
China's commercial property sector is seeing pockets of demand amid an overall real estate slump.

The 'supercore' inflation measure shows Fed may have a real problem on its hands

Wed, 04/10/2024 - 13:04
Bringing down inflation is being frustrated by sticky services prices. Experts say the Fed may have a meaningful problem on its hands.

Fed wants more confidence that inflation is moving toward 2% target, meeting minutes indicate

Wed, 04/10/2024 - 11:28
The Fed released the minutes from its March meeting.

New York Community Bank’s online arm is paying the nation’s highest interest rate

Wed, 04/10/2024 - 04:12
NYCB raised the rate offered via its online arm My Banking Direct to 5.55%, higher than any other U.S. savings account, weeks after needing a capital infusion.

China needs a narrative that house prices are going to rise, Nomura's Koo says

Tue, 04/09/2024 - 17:05
China needs to convince people that home prices are on their way up in order for growth to pick up, said Richard Koo, chief economist at Nomura.

Jamie Dimon says AI may be as impactful on humanity as printing press, electricity and computers

Mon, 04/08/2024 - 03:40
In his letter to shareholders released Monday, JPMorgan Chase CEO Jamie Dimon chose AI as the first topic among issues facing the biggest U.S. bank by assets.

Yellen says U.S. plans to ‘underscore’ need for China to shift policy

Mon, 04/08/2024 - 01:56
U.S. Treasury Secretary Janet Yellen wrapped up the fourth and final full day of her trip to China on Monday.

Ripple CEO predicts crypto market will double in size to $5 trillion by the end of 2024

Sun, 04/07/2024 - 16:14
Ripple CEO Brad Garlinghouse said he expects the entire value of the crypto market to double this year.

New ETF looks to profit from municipal bonds

Sat, 04/06/2024 - 08:00
BondBloxx aims to maximize after-tax returns with its new ETF, the IR+M Tax-Aware Short Duration ETF (TAXX).

Fed Governor Bowman says additional rate hike could be needed if inflation stays high

Fri, 04/05/2024 - 10:27
Bowman said that it's possible more hikes could be needed, rather than the cuts the market is expecting.

Free trade flaws fueled Trump's rise in 2016 — and the problems remain, top economist says

Fri, 04/05/2024 - 01:39
Decades of trade deficits and a strong dollar created too many "losers" in the U.S. economy who turned to Donald Trump's protectionist policies, says Nomura's Richard Koo.

China's Nio to expand battery swap services to gain an edge on EV infrastructure

Thu, 04/04/2024 - 21:20
Battery swapping takes only a few minutes and is expected to better address consumers' driving range concerns.

'Biggest mistake' bond investors may make ahead of Fed rate cuts

Thu, 04/04/2024 - 16:00
Experts advise taking advantage of opportunities in fixed income while yields are still high.

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