Banks
CrowdStrike update that caused global outage likely skipped checks, experts say
A general view from Dusseldorf Airport as passengers gather and wait due to the global communications outage caused by CrowdStrike, which provides cyber security services to US technology company Microsoft, on July 19, 2024 in Dusseldorf, Germany. Hesham Elsherif | Anadolu | Getty Images Security experts said CrowdStrike’s routine update of its widely used cybersecurity software, […]
Read More
CFPB cracks down on popular paycheck advance programs. Here’s what that means for workers
Key Points The Consumer Financial Protection Bureau proposed a rule that would label paycheck advance programs as loans, if users are charged a fee. These programs are sometimes known as earned wage access, daily pay, instant pay, accrued wage access, same-day pay and on-demand pay. Under the proposed rule, users would see fees expressed as […]
Read More
Watch: ECB President Christine Lagarde speaks after rate decision
[The stream is slated to start at 8:45 a.m. ET. Please refresh the page if you do not see a player above at that time.] European Central Bank President Christine Lagarde is giving a press conference following the bank’s latest monetary policy decision. The central bank left interest rates unchanged on Thursday, after implementing a cut […]
Read More
HSBC appoints Georges Elhedery as group CEO starting Sept. 2
Key Points HSBC announced on Wednesday that it has appointed Georges Elhedery as group CEO, starting Sept. 2. Elhedery replaces Noel Quinn, who has held the position for nearly five years. Elhedery will continue to serve as group CFO during the transition period, and his successor for the role has not been announced. Source
Read More
Bank of America tops estimates on better-than-expected investment banking
CEOs from left, Charles Scharf, Wells Fargo, Brian Moynihan, Bank of America, and Jamie Dimon, JPMorgan Chase, testify during the Senate Banking, Housing, and Urban Affairs Committee hearing titled “Annual Oversight of Wall Street Firms,” in Hart Building on Wednesday, December 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images Bank of America […]
Read More
Morgan Stanley to report second-quarter earnings
Key Points Morgan Stanley is likely to benefit from its Wall Street-centric business model. The bank’s massive wealth management business will be helped by high stock market values, which inflates the management fees the bank collects. Source
Read More
Deutsche Bank criticized by German regulator for financial reporting error
Key Points Deutsche Bank incorrectly disclosed deferred tax assets in its 2019 financial statement, German regulator BaFin said Tuesday. 2.076 billion euros ($2.26 billion) worth of deferred tax assets had not been disclosed separately in the notes for Deutsche Bank’s U.S. business, BaFin said. Deutsche Bank says the financial statement is still compliant with international […]
Read More
Dimon and other Wall Street CEOs react to Trump assassination attempt: ‘Deeply saddened’ by violence
Key Points The leaders of Wall Street’s most powerful firms are speaking out to condemn the attempted assassination of former President Donald Trump at a Pennsylvania rally over the weekend. JPMorgan Chase CEO Jamie Dimon told employees Sunday that he and his management team were “deeply saddened by the political violence.” Goldman Sachs CEO David […]
Read More
Goldman Sachs is set to report second-quarter earnings — here’s what Wall Street expects
David Solomon, Goldman Sachs interview with David Faber, September 7, 2023. CNBC Goldman Sachs is scheduled to report second-quarter earnings before the opening bell Monday. Here’s what Wall Street expects: Earnings: $8.34 per share, according to LSEG Revenue: $12.46 billion, according to LSEG Trading Revenue: Fixed Income of $2.96 billion, Equities of $3.17 billion, per […]
Read More
JPMorgan’s Jamie Dimon warns inflation and interest costs may possibly keep larger
In this article JPM Stick to your beloved stocksMake No cost ACCOUNT Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC’s Squawk Box at the Entire world Economic Forum Once-a-year Conference in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBC JPMorgan Chase CEO Jamie Dimon on Friday issued a further warning […]
Read More