Omar Marques | Lightrocket | Getty Images Goldman Sachs abandoned an ill-fated push into consumer banking in late 2022, but an investment in a Texas energy retailer means its reach into American homes is about to grow. Rhythm Energy, a Houston-based electricity provider overseen and owned by a Goldman Sachs private equity fund, has won … Read more
A passageway near the Bank of England (BOE) in the City of London, U.K., on Thursday, March 18, 2021. Hollie Adams | Bloomberg | Getty Images LONDON — The Bank of England held interest rates steady at 5.25% on Thursday, with the announcement detailing the very divided opinions among board members. The Monetary Policy Committee voted … Read more
A pedestrian walks past a sign for Aozora Bank Ltd. at the company’s headquarters in Tokyo, Japan, on Friday, May 14, 2010. Tomohiro Ohsumi | Bloomberg | Getty Images Shares of Aozora Bank tumbled to their lowest level in eight months Thursday after the Japanese bank warned of a fiscal-year net loss due to its exposure … Read more
A pedestrian sheltering under an umbrella passes a Julius Baer Group Ltd. branch in Zurich, Switzerland, on Tuesday, July 13, 2021. Stefan Wermuth | Bloomberg | Getty Images Swiss bank Julius Baer on Thursday reported hefty net credit losses tied to its exposure to real estate group Signa Holding, as it announced CEO Philipp Rickenbacher … Read more
Deutsche Bank on Thursday smashed fourth-quarter earnings expectations, reporting net profit of 1.3 billion euros ($1.4 billion) and announcing a further 1.6 billion euros in shareholder returns for 2024. The quarterly net profit figure marked an almost 30% fall from the same quarter a year ago but was significantly higher than the 785.61 million euros … Read more
The Federal Reserve announced Wednesday it will leave interest rates unchanged, setting the stage for rate cuts to come and paving the way for relief from the combination of higher rates and inflation that have hit consumers particularly hard. Although Fed officials indicated as many as three cuts coming this year, the pace that they trim interest … Read more
Las Vegas Review-journal | Tribune News Service | Getty Images A man described as an “experienced anti-money laundering specialist” pleaded guilty on Wednesday to illegally funneling more than $1 billion in lucrative, high-risk transactions through small financial institutions, the U.S. Department of Justice said. The massive transfer, which included hundreds of millions of dollars from … Read more
A Citibank branch in the central business district of Singapore on Feb. 12, 2018. Ore Huiying | Bloomberg | Getty Images New York Attorney General Letitia James on Tuesday sued Citibank for allegedly failing to protect and reimburse victims of electronic fraud. The suit claims that Citi does not have strong protections in place to … Read more
The Federal Reserve is expected to announce it will leave rates unchanged at the end of its two-day meeting this week, after recent reports showed the economy grew at a much more rapid pace than expected and inflation eased. “In many ways, we already have a soft landing,” said Columbia Business School economics professor Brett House. … Read more
Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC’s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBC JPMorgan Chase on Thursday said several executives considered frontrunners to one day take over for CEO Jamie Dimon had new or expanded roles. … Read more
