banks

Deutsche Bank shares fell despite outperforming earnings as traders looked ahead to an uncertain outlook

Deutsche Bank shares fell despite outperforming earnings as traders looked ahead to an uncertain outlook

A statue is pictured next to the German Deutsche Bank logo in Frankfurt, Germany, September 30, 2016. Kai Pfaffenbach | Reuters Deutsche Bank On Thursday, it reported its 10th consecutive quarter of earnings, but stocks fell as analysts honed in on an uncertain outlook and weakness in the investment bank. Deutsche Bank reported a net …

Deutsche Bank shares fell despite outperforming earnings as traders looked ahead to an uncertain outlook Read More »

Major central banks are poised to signal the downward path of interest rates in a crucial week for monetary policy

Major central banks are poised to signal the downward path of interest rates in a crucial week for monetary policy

A Federal Reserve rate announcement screen is displayed as a trader works on the floor of the New York Stock Exchange (NYSE), November 2, 2022. Brendan McDiarmid | Reuters The US Federal Reserve, European Central Bank and Bank of England are all expected to raise interest rates again this week, as they make their first …

Major central banks are poised to signal the downward path of interest rates in a crucial week for monetary policy Read More »

Banks are preparing for the deepest job cuts since the financial crisis

Banks are preparing for the deepest job cuts since the financial crisis

Banks are preparing for the biggest round of job cuts since the global financial crisis, as executives come under pressure to cut costs in the wake of a collapse in investment bank revenues. The layoffs – which are expected to run into the tens of thousands across the sector – reflect banks’ mass hiring over …

Banks are preparing for the deepest job cuts since the financial crisis Read More »

The calendar calls for chaos: How Goldman Sachs laid off 3,000 workers in one day

The calendar calls for chaos: How Goldman Sachs laid off 3,000 workers in one day

The Washington Post has learned that listed bankers are aware that Goldman Sachs used scare tactics as it filled a bloodbath this week that claimed the lives of more than 3,000 employees. Insiders claim the Wall Street giant — which named Wednesday’s layoffs “David Demolition Day” after CEO David Solomon — emailed the calendar inviting …

The calendar calls for chaos: How Goldman Sachs laid off 3,000 workers in one day Read More »

Citigroup's fourth-quarter profit fell 21% as the bank set aside more money for credit losses

Citigroup’s fourth-quarter profit fell 21% as the bank set aside more money for credit losses

Citigroup said it identified the cause of the flash crash and rectified the error “within minutes.” Jim Dyson | Getty Images News | Getty Images Citigroup He said net income in the fourth quarter was down more than 21% from a year ago as the downturn in investment banking outweighed the benefit from higher interest …

Citigroup’s fourth-quarter profit fell 21% as the bank set aside more money for credit losses Read More »

US banks are preparing to cut profits and recession

US banks are preparing to cut profits and recession

NEW YORK (Reuters) – U.S. banking giants are expected to report lower fourth-quarter profits this week as lenders hoard money for rainy days in preparation for an economic slowdown that will hurt investment banking. Four US banking giants – JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N), Citigroup Inc (CN) and Wells Fargo …

US banks are preparing to cut profits and recession Read More »