Banks
HSBC’s first-quarter profit slides as Ukraine conflict, inflation bite
Pedestrians walk past a HSBC Bank branch in Hong Kong. HSBC reported a 27% fall in quarterly profit on Tuesday, as the Asia-focused bank suffered from decreased revenues and slowing growth in Hong Kong. Budrul Chukrut/SOPA Images | Lightrocket | Getty Images HSBC reported a 27% fall in quarterly profit on Tuesday, as the Asia-focused […]
Read More
74% of people do not think they will ever achieve high net worth status, survey finds
cdwheatley | E+ | Getty Images People have wide-ranging views of what it means to be “high net worth,” according to a survey from digital wealth manager Personal Capital. Yet most people — 74% — don’t see themselves ever fitting into that category. When 2,209 adults were asked what they would consider high net worth, […]
Read More
Digital banks aren’t doing enough to tackle financial crime, UK regulator warns
Icons for the Monzo and Starling banking apps on a smartphone. Adrian Dennis | AFP via Getty Images Britain’s online-only challenger banks need to do more to prevent the abuse of their platforms by criminals, regulators have warned. The Financial Conduct Authority on Friday published the findings of a review into financial crime controls at […]
Read More
Goldman’s checking account for the masses nears as bank tests product with U.S. employees
Stephanie Cohen, currently Goldman Sachs’ global co-head of consumer and wealth management, speaking at the 2018 New York Times Dealbook conference in New York City. Michael Cohen | Getty Images Goldman Sachs’ long-awaited checking account is one step closer to reality. The bank is widening internal testing for the no-fee, interest-bearing account to all 20,000-plus […]
Read More
Goldman executive who helped create Marcus brand leaves for real estate investing start-up Cadre
Dustin Cohn, chief marketing office of Cadre Source: Cadre Goldman Sachs consumer bank branding chief Dustin Cohn has joined real estate investing start-up Cadre as chief marketing officer, CNBC has learned. The departure of Cohn, who is credited with helping name the firm’s consumer division Marcus in 2016, is the latest in a wave of […]
Read More
IMF warns of further market sell-offs as central banks adjust policy
The International Monetary Fund has warned of more market sell-offs as central banks try to combat higher inflation and ease back on pandemic stimulus measures. Market players had started the year on an optimistic footing, predicting some economic momentum on the back of an easing of Covid-19 restrictions, which would likely provide a boost to […]
Read More
Sanctioned Russian bank founder Oleg Tinkov condemns ‘insane’ Ukraine war, calls on West to give Putin face-saving exit
Russian business tycoon Oleg Tinkov attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia, June 7, 2019. Maxim Shemetov | Reuters Sanctioned Russian digital bank founder Oleg Tinkov on Tuesday blasted his nation’s “insane” war against Ukraine and called on Western nations to give Russia’s leader Vladimir Putin “a clear exit to […]
Read More
Stocks making the biggest moves midday: Twitter, Bank of America, Charles Schwab and more
In this photo illustration, the Twitter logo is displayed on the screen of an iPhone in front of a computer screen displaying Twitter logos. Chesnot | Getty Images Check out the companies making headlines in midday trading. Twitter — Shares rose 3.4% after Twitter announced Friday that the board adopted a limited duration shareholder rights […]
Read More
Bank of America profit tops estimates as lender releases reserves for soured loans
Brian Moynihan, chairman and chief executive officer of Bank of America Corp, speaks in New York City, September 25, 2019. Shannon Stapleton | Reuters Bank of America reported first-quarter earnings before the opening bell Monday. Here are the numbers: Earnings: 80 cents a share vs 75 cents a share Refinitiv estimate. Revenue: $23.33 billion vs […]
Read More
Jamie Dimon, other JP Morgan executives donated to centrist Democrat Kyrsten Sinema
JP Morgan CEO Jamie Dimon listens as he is introduced at the Boston College Chief Executives Club luncheon in Boston, Massachusetts, U.S., November 23, 2021. Brian Snyder | Reuters J.P. Morgan Chase CEO Jamie Dimon and other executives from the bank contributed to the campaign of centrist Democratic Sen. Kyrsten Sinema, who has opposed key […]
Read More