Wells Fargo is breaking out of its lending roots. The bank has quietly gone on a hiring spree to grab a bigger slice of the profitable investment banking business long dominated by its Wall Street rivals. Since the start of 2023, a CNBC analysis found that Wells Fargo made at least 17 senior-level hires in … Read more
NVIDIA’s founder and CEO Jensen Huang delivers a keynote address on the latest innovations in AI, during a developers conference at the SAP Center in San Jose, California, on March 18, 2024. Josh Edelson | AFP | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings … Read more
India and Japan are two bright spots in Asia’s “supremely interesting” markets, JPMorgan’s Filippo Gori said at the bank’s Global China Summit on Thursday, referring to the region’s equity as well as deal-making landscape. “You have Japan, which is on fire. India, which is very in high demand,” Gori, co-head of global banking at JPMorgan, … Read more
Sarinyapinngam | Istock | Getty Images A dispute between a fintech startup and its banking partners has ensnared potentially millions of Americans, leaving them without access to their money for nearly two weeks, according to recent court documents. Since last year, Synapse — an Andreessen Horowitz-backed startup that serves as a middle-man between customer-facing fintech … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2024 in New York City. Angela Weiss | AFP | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to … Read more
Rohit Chopra, director of the CFPB, testifies during a House Financial Services Committee hearing on June 14, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images The Consumer Financial Protection Bureau declared on Wednesday that customers of the burgeoning buy now, pay later industry have the same federal protections as users of credit cards. … Read more
People walk by a CitiBank location in Manhattan on March 01, 2024 in New York City. Spencer Platt | Getty Images LONDON — British regulators on Wednesday dished out a combined £61.6 million ($79 million) in fines to U.S. investment bank Citi for failings in its trading systems and controls. The fines were issued by … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2024 in New York City. Angela Weiss | AFP | Getty Images This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to … Read more
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images Jamie Dimon thinks shares of JPMorgan Chase are expensive. That was the message the … Read more
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., at the UK Global Investment Summit at Hampton Court Palace in London, UK, on Monday, Nov. 27, 2023. Bloomberg | Bloomberg | Getty Images Jamie Dimon’s days as CEO of JPMorgan Chase are numbered — though its unclear by how much. In a response to … Read more
