Investment banks including Bank of America Corp., Credit Suisse Group AG and Goldman Sachs Group Inc. are on track to collectively lose more than $500 million on debt backing the Read more
Tag: Bank of America Corp.
Senators drill down on Zelle reimbursements, inflation and ‘uber-woke’ policies in bank CEO hearing
Democratic senators criticized banks for not serving consumers fairly while Republicans complained about liberal social agendas promoted by the same institutions, as chief executive officers of the country’s seven largest Read more
Jamie Dimon, Jane Fraser and other CEOs are heading to Capitol Hill this week for their annual grilling
CEOs from the largest consumer-facing banks in the U.S. are scheduled to testify on Capitol Hill this week in both the House and Senate as the fall midterm election season Read more
JPMorgan and Goldman are still top dogs in investment banking but business shrinks significantly in 2022
JPMorgan Chase & Co. and Goldman Sachs Group Inc. held on to their one-two rankings in investment banking revenue in 2022 while Bank of America Corp. pushed its way into Read more
Bank CEOs are heading to Capitol Hill this week for their annual grilling
CEOs from the largest consumer-facing banks in the U.S. are scheduled to testify on Capitol Hill this week in both the House and Senate as the fall midterm election season Read more
Merger Monday brings fresh hope to investment bankers facing talk of head count reductions
A flurry of merger deals on Monday marked a bullish sign amid talk of lower bonuses and potential layoffs awaiting investment bankers on Wall Street. The deal parade of more Read more
Dow books biggest drop in more than two weeks after report about Apple’s plans to slow hiring, spending
U.S. stocks gave up early gains to finish lower on Monday, after Bloomberg reported that Apple Inc. plans to slow hiring and spending growth in some divisions next year in Read more
Goldman Sachs, Bank of America earnings shrink but offer some bright spots
Goldman Sachs Group Inc. and Bank of America Corp. shares rose Monday on stronger-than-expected second-quarter results, while Bank of America Corp. shares fell back on an earnings miss. The two Read more
Citigroup provides upside surprise and stock rally while Wells Fargo misses
Citigroup Inc. on Friday delivered better-than-expected profit and revenue but its earnings still fell along with Wells Fargo & Co. amid more difficult market conditions than a year ago. Citigroup Read more
Earnings expectations for 2023 likely to be revised lower, Goldman warns
The second-quarter earnings season started in earnest on Thursday with disappointing reports from JPMorgan Chase & Co. and Morgan Stanley. On top of missing profit expectations, JPM also announced a Read more