Category: Financial Services

January 15, 2020

Bank of America (BAC) – Get Report posted better-than-expected fourth-quarter earnings Wednesday as loan growth offset narrowing interest rate margins at the consumer-focused lender. Bank of America said earnings for the three months ending in December came in at 74 […]

January 14, 2020

NEW YORK — Banking giant JPMorgan Chase said profit jumped 21% in the final three months of 2019, as the bank’s trading desks had a blowout quarter, which offset the impact of declining interest rates. The New York-based bank earned […]

January 7, 2020

Goldman Sachs is reorganizing its businesses to more closely resemble Wall Street peers and give its nascent retail banking operations its own category. The bank is now calling its four main segments global markets, investment banking, asset management and consumer […]

December 27, 2019

Banks around the world are unveiling the biggest round of job cuts in four years as they slash costs to weather a slowing economy and adapt to digital technology. This year, more than 50 lenders have announced plans to cut […]

December 19, 2019

Goldman Sachs has announced the strongest fossil-fuel finance restrictions of any major U.S. bank, a move conditionally embraced by advocacy groups such as the Sierra Club. Goldman GS, -0.06% , with its mid-December announcement, becomes the first of the large […]

December 2, 2019

Wells Fargo is still tainted by its more than 3-year-old phony accounts scandal and has some major hurdles ahead, according to Raymond James. The firm downgraded shares of Wells Fargo to underperform from market perform, saying the bank is in […]

November 14, 2019

In an era of negative interest rates in Europe, monetary policy should not be geared towards appeasing the banking sector, BNP Paribas Chairman Jean Lemierre has said. Speaking to CNBC’s Annette Weisbach at the BNP Conference in London on Thursday, […]

November 5, 2019

Goldman Sachs Group Inc., stung by losses in Uber Technologies Inc. and WeWork, has a message for investors in growth stocks: profit matters. After years of pursuing revenue growth at all costs, driven by cheap money, markets are increasingly focusing […]

October 24, 2019

SoftBank’s share price hit its lowest point since the last week of January after it announced it would be bailing out WeWork earlier this week. The firm’s stock fell nearly 3% in Tokyo trading on Thursday, as investors reacted to […]

October 16, 2019

Bank of America beat analysts’ estimates for third-quarter profit and revenue as its consumer and advisory businesses offset a slump in trading. The bank said Wednesday that net income excluding an impairment charge rose 4% to $7.5 billion, or an […]