Banks
The alleged ‘sweeping betrayal of trust’ that rocked Zions bank and spooked Wall Street
The Zion Bank main office in Salt Lake City, Utah, US, on Friday, April 7, 2023. George Frey | Bloomberg | Getty Images Zions Bancorporation lost $1 billion of its valuation in a single day on Thursday after disclosing $60 million worth of loans it had made that were unlikely to be repaid. What led […]
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‘The tide went out’: How a string of bad loans has bank investors hunting for hidden risks
Signage outside Western Alliance Bank headquarters in Phoenix, Arizona, March 13, 2023. Caitlin O’Hara | Bloomberg | Getty Images Big banks including JPMorgan Chase and Goldman Sachs had just finished taking victory laps after a blockbuster quarter when concerns emerged from an obscure corner of Wall Street, sending a collective shiver through global finance. Regional […]
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Europe’s private equity giants tumble as U.S. bank lending fears spread
Some of Europe’s major private markets firms sold off on Friday as concerns over lending standards in U.S. markets swept across the Atlantic. London-listed ICG closed 5.5% lower, while CVC Capital Partners, which is headquartered in Jersey, lost about 6.6%. Swiss private markets firm Partners Group fell 3.4%, as Sweden’s EQT was down 4.6%. The […]
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Moody’s says the banking system, private credit markets are sound despite worries over bad loans
Key Points Despite worries over bad loans at midsize U.S. banks, there’s little evidence of a systemic problem, according to Marc Pinto, Moody’s head of global private credit. “One cockroach does not a trend make,” Pinto said. Market sentiment appeared to improve Friday after a sell-off Thursday. Source
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Global bank stocks sell off as fears mount over bad loans
LONDON – Nov. 5, 2020: Fog shrouds the Canary Wharf business district including global financial institutions Citigroup Inc., State Street Corp., Barclays Plc, HSBC Holdings Plc and the commercial office block No. 1 Canada Square. Dan Kitwood | Getty Images News | Getty Images Banking stocks across the globe sold off on Friday, as fears […]
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CNBC Daily Open: Bad loans by regional banks should concern us all
Western Alliance Bank signage is displayed on the company’s Headquarters in downtown Phoenix, Arizona, on April 27, 2023. Patrick T. Fallon | AFP | Getty Images When you can’t repay a bank loan, that’s distressing — but probably not for the bank. But when tens of thousands of people, who had good credit ratings, can’t, […]
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U.S. regulators toss out rules requiring banks to prepare for climate change
Key Points Regulators are doing away with controversial regulations that required banks to plan for losses in the event of climate-related events, according to an announcement Thursday. Trump administration officials have criticized the Fed for falling prey to mission creep, or exceeding the scope of its mandates for monetary policy and bank supervision. Source
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Big banks like JPMorgan Chase and Goldman Sachs are already using AI to hire fewer people
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., at the Institute of International Finance (IIF) during the annual meetings of the IMF and World Bank in Washington, DC, US, on Thursday, Oct. 24, 2024. Kent Nishimura | Bloomberg | Getty Images The era of artificial intelligence on Wall Street, and its impact on […]
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Bank of America tops estimates on 43% surge in investment banking revenue
Brian Moynihan, CEO of Bank of America, leaves the U.S. Capitol after a meeting with Republican members of the Senate Banking, Housing and Urban Affairs Committee on the issue of debanking on Thursday, February 13, 2025. Tom Williams | Cq-roll Call, Inc. | Getty Images Bank of America on Wednesday posted third-quarter results that exceeded […]
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Morgan Stanley slated to release third-quarter earnings
Key Points Wall Street-centric banks like Morgan Stanley and peer Goldman Sachs are in an ideal environment. Wall Street trading desks have seen booming activity in the quarter, while investment banking continues to see a resurgence in activity for mergers and IPOs. Shares of Morgan Stanley have climbed almost 24% this year. Source
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