The Signature Bank headquarters at 565 Fifth Avenue in New York, US, on Sunday, March 12, 2023. Lokman Vural Elibol | Anadolu Agency | Getty Images On Friday, Signature Bank customers spooked by the s...
Tag: breakingNewsGlobal
Silicon Valley Bank employees received bonuses hours before takeover
Police officers leave Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP | Getty Images Silicon Valley Bank employees received their annual bonuses Frida...
Silicon Valley Bank collapse: How it happened
A Brinks armored truck sits parked in front of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. Justin Sullivan | Getty Images On Wednesday, Silicon V...
Fintech Brex got billions of dollars in Silicon Valley Bank deposits Thursday
Fintech startup Brex received billions of dollars in deposits from Silicon Valley Bank customers on Thursday, CNBC has learned. The company, itself a high-flying startup, has benefited after venture c...
JPMorgan Chase sues former senior banker with ties to Jeffrey Epstein
Jes Staley, CEO of Barclays Justin Solomon | CNBC JPMorgan Chase sued its former investment banking chief Jes Staley over his ties to disgraced former financier Jeffrey Epstein, alleging that Staley i...
Why Goldman’s Marcus project failed and what it means for CEO Solomon
David Solomon, chief executive officer of Goldman Sachs Group Inc., during an event on the sidelines on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 19, 2023. S...
Wells Fargo lays off mortgage bankers days after rewarding some with California retreat
Palm Spring Deserts, California Lonely Planet Wells Fargo laid off hundreds of mortgage bankers this week as part of a sweeping round of cuts triggered by the bank’s recent strategic shift, CNBC...
Wells Fargo boosts digital connection with rich clients
Pedestrians pass a Wells Fargo bank branch in New York, U.S., on Thursday, Jan. 13, 2022. Victor J. Blue | Bloomberg | Getty Images Wells Fargo is unveiling a new platform to boost digital engagement ...
Goldman Sachs scraps idea for direct-to-consumer credit card
David Solomon, Goldman Sachs, at Marcus event Goldman Sachs has dropped plans to develop a Goldman-branded credit card for retail customers, another casualty of the firm’s strategic pivot, CNBC ...
Ukraine plots post-war rebuilding effort with JPMorgan Chase as economic advisor
A closer shot of Ukraine President Volodymyr Zelenskyy and the Ministry of Economy (MoE) meeting with senior members of J.P. Morgan. Coutesy: JP Morgan Summit Ukraine’s government signed an agre...
Wall Street’s frozen market is thawing after stock rally
Traders work on the floor of the New York Stock Exchange on Wall Street in New York City. Angela Weiss | Afp | Getty Images Wall Street just pulled off its biggest IPO in four months, giving bankers h...
Solar tech company Nextracker expected to price at upper end of range in good sign for IPO market
choja | E+ | Getty Images The solar technology company Nextracker is expected to price its initial public offering at the high end of its stated $20 to $23 per share range, people with knowledge of th...
Goldman Sachs CEO David Solomon gets 29% pay cut to $25 million
David Solomon, Chairman & CEO of Goldman Sachs, speaking on Squawk Box at the WEF in Davos, Switzerland on Jan. 23rd, 2023. Adam Galica | CNBC Goldman Sachs CEO David Solomon will get a $25 milli...
Goldman Sachs fourth quarter results are coming — what the Street expects
David Solomon, chief executive officer of Goldman Sachs Group Inc., during a Bloomberg Television at the Goldman Sachs Financial Services Conference in New York, US, on Tuesday, Dec. 6, 2022. Michael...
JPMorgan Chase (JPM) earnings 4Q 2022
Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Thursday...
JPMorgan Chase shutters student financial aid website Frank
Dimon said in June that he was preparing the bank for an economic “hurricane” caused by the Federal Reserve and Russia’s war in Ukraine. Al Drago | Bloomberg | Getty Images JPMorgan ...
Wells Fargo, once the No. 1 player in mortgages, is stepping back from the housing market
Charles Scharf, chief executive officer of Wells Fargo & Co., listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, March 10, 2020. Andrew Harrer | Blo...
up to 3,200 employees laid off this week
People enter the Goldman Sachs headquarters building in New York, U.S., on Monday, June 14, 2021. Michael Nagle | Bloomberg | Getty Images Goldman Sachs is laying off fewer employees than feared, but ...
Regulators warn U.S. banks on crypto risks including ‘fraud and scams’
Ether has hugely outperformed bitcoin since both cryptocurrencies formed a bottom in June 2022. Ether’s superior gains have come as investors anticipate a major upgrade to the ethereum blockchai...
A reckoning is upon us. Here’s what to expect
Partygoers with unicorn masks at the Hometown Hangover Cure party in Austin, Texas. Harriet Taylor | CNBC Bill Harris, the former PayPal CEO and veteran entrepreneur, strode onto a Las Vegas stage in ...
Wells Fargo agrees to $3.7 billion settlement with CFPB over consumer abuses
Charles Scharf, chief executive officer of Wells Fargo & Co., listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, March 10, 2020. Andrew Harrer | Blo...
Goldman Sachs is planning to cut up to 8% of its employees in January
David Solomon, chief executive officer of Goldman Sachs Group Inc., during a Bloomberg Television at the Goldman Sachs Financial Services Conference in New York, US, on Tuesday, Dec. 6, 2022. Michael...
Justice Department tells bankers to confess their misdeeds
U.S. prosecutor Marshall Miller (C), William Nardini (R) and Kristin Mace attend a news conference in Rome February 11, 2014. Tony Gentile | Reuters Banks and other corporations that proactively repor...
Morgan Stanley cut about 2% of staff Tuesday, sources say
James Gorman, chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview on day three of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 24, 2019...
Jamie Dimon says inflation eroding consumer wealth may cause recession next year
JPMorgan Chase CEO Jamie Dimon said that inflation could tip the U.S. economy into recession next year. While consumers and companies are currently in good shape, that may not last much longer, Dimon ...
Citigroup faulted by U.S. banking regulators for poor data management in ‘living will’ review
CEO of Citigroup Jane Fraser testifies during a hearing before the House Committee on Financial Services at Rayburn House Office Building on Capitol Hill on September 21, 2022 in Washington, DC. Alex ...
Upgrade offers 3.5% APY as deposits battle heats up
Upgrade CEO Renaud Laplanche speaks at a conference in Brooklyn, New York, in 2018. Alex Flynn | Bloomberg via Getty Images Credit-card startup Upgrade is releasing a new savings account with what it ...
JPMorgan president Daniel Pinto says a recession is likely and markets may fall further as the Fed raises rates
Daniel Pinto, co-president and chief operating officer of JPMorgan Chase & Co., speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, D.C., Oct. 18, 2...
JPMorgan Chase gives early payday deposits to Secure Banking customers
Signage outside a Chase bank branch in San Francisco, California, on Monday, July 12, 2021. David Paul Morris | Bloomberg | Getty Images JPMorgan Chase is giving some customers early access to their d...
Goldman Sachs pivot from Marcus shows that disrupting retail banking is hard
David Solomon, Goldman Sachs, at Marcus event Goldman Sachs CEO David Solomon is reining in his ambition to make the 153-year-old investment bank a major player in U.S. consumer banking. After product...