UBS CEO Sergio Ermotti on Tuesday, May 7, 2024. Bloomberg | Bloomberg | Getty Images The CEO of Swiss banking giant UBS said Thursday that the fight against inflation isn’t over yet, and some investors seem to be getting too ahead of themselves in expecting that the U.S. Federal Reserve could pull an aggressive rate … Read more
Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a “large and underserved” market of some 2.8 million British “digital nomads.” Pavlo Gonchar | Sopa Images | Lightrocket | Getty Images Dutch challenger bank Bunq told CNBC that it plans to grow its global headcount by 70% this year to over … Read more
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. 1. The S & P 500 erased much of its earlier losses Wednesday as September continued to live up to its reputation as a volatile month. The in-line August consumer … Read more
A customer enters a Commerzbank AG bank branch in Berlin, Germany, on Tuesday, Aug. 6, 2024. Bloomberg | Bloomberg | Getty Images Commerzbank shares jumped on market open on Wednesday, after Italian bank UniCredit acquired a 4.5% stake in the Frankfurt-based lender from the German government. Commerzbank stock was up 17.4% at 8:52 a.m. London … Read more
Daniel Pinto, JPMorgan’s chief executive of corporate and investment bank. Simon Dawson | Bloomberg | Getty Images JPMorgan Chase shares fell 7% Tuesday after the bank’s president told analysts that expectations for net interest income and expenses in 2025 were too optimistic. While the bank expects to be in the “ballpark” of the 2024 target … Read more
A top Federal Reserve official on Tuesday unveiled changes to a proposed set of U.S. banking regulations that roughly cuts in half the extra capital that the largest institutions will be forced to hold. Introduced in July 2023, the regulatory overhaul known as the Basel Endgame would have boosted capital requirements for the world’s largest … Read more
Attendees inspect the new iPhone 16 Pro and 16 Pro Max during an Apple special event at Apple headquarters on September 09, 2024 in Cupertino, California. Justin Sullivan | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed … Read more
David Solomon, CEO of Goldman Sachs, during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations” in New York on Aug. 6, 2024. Jeenah Moon | Bloomberg | Getty Images Goldman Sachs will post a roughly $400 million pretax hit to third-quarter results as the bank continues to unwind its ill-fated consumer … Read more
Big banks are jumping headfirst into the AI race. Over the past year, Wall Street’s largest names — including Goldman Sachs , Bank of America , Morgan Stanley , Wells Fargo to JPMorgan Chase — ramped up their generative artificial intelligence efforts with the aim of boosting profits. Some are striking deals and partnerships to … Read more
Can you get free, fast and easy money from your bank? Despite what people on social media may tell you, this promise comes with a hefty price. Over the weekend, people on TikTok and X seemingly took advantage of a systemwide “glitch” that was allowing customers at some Chase ATM machines to deposit checks they … Read more
