banks
JPMorgan, Goldman, other banks jumpstart Q1 earnings season: Morning Brief
Bloomberg China’s Very Bad Bank: Inside the Huarong Debt Debacle (Bloomberg) — It’s been 11 weeks since Lai Xiaomin, the man once known as the God of Wealth, was executed on a cold Friday morning in the Chinese city of Tianjin.But his shadow still hangs over one of the most dramatic corruption stories ever to …
Canadian banks shrink workforces as they invest heavily in technology
By Nichola Saminather TORONTO, April 7 (Reuters) – Canada’s top banks are shedding workers for the second straight year, moving toward leaner operations to satisfy investors demanding returns on tens of billions of dollars that lenders have poured into new technologies. Five of Canada’s six biggest banks cut their workforces 4.4% from a year earlier …
Credit Suisse takes $4.7 billion hit from Archegos hedge fund scandal
A Swiss flag flies over a sign of Credit Suisse in Bern, Switzerland FABRICE COFFRINI | AFP | Getty Images Credit Suisse on Tuesday announced several high-level staff departures and proposed a cut to its dividend as it weighs heavy losses from the Archegos Capital saga. The Swiss lender now expects a first-quarter pre-tax loss …
Jalen Suggs banks in buzzer-beating 3 to beat UCLA, keep Gonzaga perfect
INDIANAPOLIS — Three dribbles, 55 feet and one of the greatest shots in NCAA tournament history. UCLA’s Johnny Juzang scored with 3.3 seconds left to tie the score, and Mark Few elected not to call a timeout. Corey Kispert grabbed the ball out of the net, while Jalen Suggs began to curl toward the ball …
China and Brazil have world’s greenest central banks, activists say
FRANKFURT (Reuters) – China has the world’s greenest central bank, followed by Brazil, both beating richer countries thanks to concrete steps such as lower interest rates on loans for pollution-fighting projects, an activist group said on Wednesday. FILE PHOTO: A man wearing a mask walks past the headquarters of the People’s Bank of China, the …
Stefan Schaffer named as head of Deutsche Bank’s technology centre in Bucharest
Deutsche Bank has announced that Stefan Schaffer will assume the position of Head of DB Global Technology, Deutsche Bank’s technology centre in Bucharest that focuses on developing financial and banking software applications. Schaffer joins the Bucharest team while continuing to perform his current role of Head of Central Chief Information Office (CIO) …
JPMorgan and Citi are using blockchain technology, and other banks are considering allowing clients to hold crypto in bank accounts, Bank of America research finds | Currency News | Financial and Business News
Reuters Bank of America research published Tuesday shows banks like JPMorgan and Citi use blockchain technology. Other smaller banks said they are open to allowing clients to hold cryptocurrencies in the future. The research sheds on light on where traditional financial institutions stand on blockchain amid bitcoin’s massive rally. Sign up here for our daily …
A renewed call to break up big banks
Art Wilmarth’s new book, which makes a scholarly case for breaking up the nation’s largest banks, is almost 40 years in the making. Wilmarth was a young banking lawyer in the early 1980s when he first became interested in the Glass-Steagall Act, the Depression-era law that barred U.S. banks from engaging in securities activities. At …
Rivers breaking banks in Germany as more snow falls
BERLIN (AP) — Authorities in Germany have warned of flooding in the west of the country Saturday as meltwater pushes rivers to break their banks. Shipping was halted on the Rhine at Karlsruhe, and in Wissen southeast of Cologne four men had to be rescued after their inflatable boat capsized in swollen rapids. In Buedingen, …
Dow’s Slide Accelerates as Wall Street Scrutinizes Size of Biden Aid Plan
Stocks declined Friday as President-elect Joe Biden unveiled a $1.9 trillion Covid-19 relief package, banks fell after kicking off earnings season and U.S. retail sales were worse than expected. The Dow Jones Industrial Average fell 359 points, or 1.16%, to 30,632, the S&P 500 declined 1.1% and the Nasdaq was down 1.06%. Stocks tumbled in …
