Financials

Bank of America Corp reported a jump in first-quarter profit that breezed past estimates on Thursday as it released reserves it had set aside to cover potential coronavirus loan losses.

Dow members JPMorgan Chase and Goldman Sachs, and financial services giant Wells Fargo earnings are in focus.

Federal Reserve Chairman Jerome Powell warned again that cyber threats are the biggest unknown for the US financial system.

JPMorgan Chase & Co. reported first-quarter profit spiked nearly 400% after the bank released cash that had been set aside to cover bad loans.

Goldman Sachs Group Inc (GS.N) executives are examining how well the bank navigated several major market events this year that caused extreme volatility, people familiar with the matter told Reuters.

Jack Ma's Ant Group will apply to become a financial holding company, which will be overseen by China's central bank, subjecting the company to tighter regulations.

During the pandemic, most debt collectors gave borrowers a break, understanding the financial hardships they faced. Despite this, one firm did not take these hardships into account and instead filed more collection lawsuits after the lockdowns began.

Prosecutors said Horwitz told investors that their money would be used to purchase film distribution rights that would then be licensed to platforms such as HBO and Netflix

Before his epic collapse this week losing an estimated $8 billion or possibly in 10 days, hedge fund trader Bill Hwang increased the size of his fortune a staggering 900% or more in just seven years.

Ties to Archegos has put Credit Suisse Group AG in the crosshairs with a key ratings agency raising the warning flag.

A U.S. judge on Wednesday dismissed litigation accusing 10 large banks of conspiring to suppress competition in the now $21.2 trillion market for U.S. Treasury securities.

Critics urge Robinhood to change celebratory app features, after saying the app treats stock trading as a game for inexperienced investors.

The $10 billion hedge fund, run by Bill Hwang, was forced to liquidate positions last week, causing extreme swings in a number of stocks, including Discovery and ViacomCBS, according to reports. 

Remote work is hurting the commercial real estate industry in major cities, including New York and San Francisco, as more firms look to ditch their office spaces permanently.

Goldman Sachs Group Inc. and Morgan Stanley were quick to move large blocks of assets before other large banks that traded with Archegos Capital Management, as the scale of the hedge fund’s losses became apparent, according to people with knowledge of the transactions.

Archegos Capital Management may be linked to possible losses for global banks.

Deutsche Bank had accused the funds of having "sellers' remorse" for agreeing to sell the claims at 66 cents on the dollar in 2011, only to see their value later rise substantially

The Fed signals U.S. banks can revisit dividends, buybacks.

Financial habits that resulted from the pandemic and are worth holding on to for those who want to achieve long-term financial success and stability.

The Chick-a-fil-A drama, others at Goldman tell FOX Business, is part of a broader cultural revolution at the prestigious white shoe investment bank.