America's biggest financial institutions are backing Democratic nominee Joe Biden, banking on a "blue wave" that will create jobs and boost the economy.
Deutsche Bank set an office return date of July 2021 for its U.S. employees on Wednesday as banks struggle with whether to bring workers back to Manhattan.
Brokers at UBS are under the impression they won’t have to return to work until April 2021, while Morgan Stanley, Goldman Sachs and the nation’s largest bank JPMorgan, are alerting roughly half their workforces that they may not be coming back to their Manhattan offices until possibly well into next year.
U.S. tech stocks are now worth $9.1 trillion collectively.
Warren Buffett's Berkshire Hathaway is building a bigger Bank of America stake
Morgan Stanley posted a 45% rise in quarterly profit on Thursday, driven by strong trading gains as the coronavirus pandemic whipsawed global financial markets since March.
Net income of $3.5 billion, or 37 cents a share, still topped the 27-cent average estimate from analysts surveyed by Refinitiv. Both JPMorgan Chase and Citigroup posted double-digit profit declines earlier this week after shoring up reserves.
Companies have stepped up pressure on the franchise since earlier this week, when a group of 87 investment firms and shareholders demanded that PepsiCo, Nike and FedEx cut ties with the team unless officials agree to change the name.
The novel coronavirus has disproportionately hit African-American communities.
Applicants may have had personal information, including their Social Security number, address and phone number, exposed.
WASHINGTON -- The U.S. Justice Department has sent grand jury subpoenas to big banks seeking records as part of a broader investigation into potential abuse of a $660 billion emergency loan program to help small businesses hurt by the novel coronavirus, two people with knowledge of the matter told Reuters.
Congress has passed four massive stimulus packages to blunt the economic pain from the virus outbreak.
Ten of the world's largest banks, including JPMorgan Chase (NYSE:JPM) and Bank of America, have been sued for allegedly conspiring over nearly 14 years to rig prices in the $9.6 trillion U.S. corporate bond market, costing ordinary investors billions of dollars.
By reshuffling applications to frontload businesses seeking higher loans, Chase, along with other big banks, received nearly $6 billion in processing fees.
Major U.S. lenders are preparing to become operators of oil and gas fields across the country for the first time in a generation to avoid losses on loans to energy companies that may go bankrupt, sources aware of the plans told Reuters.
A senior Treasury official says 17,500 loans worth $5.4 billion were awarded by close of business on Friday, with 1,100 banks participating.
The payments will then be added to the end of their loan
Bank of America and Citigroup CEOs comment on big banks' response to the coronavirus.
President Trump will meet with the CEOs of Wall Street's biggest banks at the White House on Wednesday afternoon.
Bank of America CEO Brian Moynihan spoke with FOX Business' Maria Bartiromo at the World Economic Forum in Davos, Switzerland.