Credit Suisse CEO Will Cut More Jobs As Quarterly Loss is Expected
CEO Tidjane Thiam determine to pursue further restructuring in Credit Suisse. The Swiss bank will cut more 2,000 jobs and cut more of its business.
Finance/Venture
Coinbase Reports Impressive Q1 Revenue of Above $1 Billion Following Bitcoin Rally
Coinbase announced a better-than-expected revenue in its first-quarter earnings report on Thursday after a bitcoin rally led to a surge in profit.
Goldman Sachs Removes Bonus Cap for UK Bankers
After the UK removed local pay restrictions for bankers last year, Goldman Sachs was the first to remove its bonus cap for its bankers...
Trump Media CEO Calls for GOP Investigation Into Potential Short Selling by Eight Financial Firms
Nunes demands a GOP-led probe into short-selling by eight firms affecting DJT stock. DJT shares fluctuate; short sellers face steep costs, deterring professional managers...
Australia's Macquarie Bank Terminating Cash Transactions in All Branches as It Shifts to Fully Digital Banking Services
Australia's Macquarie Bank will eliminate the use of cash at its branches later this month as part of its transition to a fully digital offering...
JPMorgan Chase to Pay a Civil Penalty of $100 Million Over Trade Reporting Gaps
JPMorgan Chase is expected to reach a resolution with a third US regul...
Donald Trump Secures Another $1.6 Billion Worth of Shares in Trump Media
Former President Donald Trump has received another $1.6 billion worth ...
Latest News
KBW Suggested to Break Citigroup to Increase Shareholders' Value
The analyst at Keefe, Bruyette & Woods believed the breakup would increase shareholders value by 57%. However, Citigroup has asked its shareholders to vote against the too-big-to-fail proposal.
Francesca McDonagh surprised by fewer women in banks' executive roles
Francesca McDonagh, head of HSBC's retail business in the UK, is astonished over the lack of female representatives in the banking sector. She is worried about the slow progress of female reps in seni
Bank of England Keep Interest Rate at 0.5% Low
The British central bank has voted on Thursday to maintain a low interest rate. The uncertainties regarding and weak global trade outlook has made the committee to decide to maintain low interest rate
Standard & Poor's Will Review Pershing Square Rating
Following Valeant Pharmaceuticals' meltdown, S&P rating service puts Pershing Square Holdings Ltd on review. However, S&P acknowledged swift decision by the firm to strengthen its liquidity after a ma
Plunge of Valeant Shares Made Bill Ackman to Lose $1 Billion
A huge slump in Valeant Pharmaceutical stocks on Tuesday made Pershing Capital to lose more than $1 billion in one day. Meanwhile Bill Ackman planned to take more active role in the drugmaker.
Frankfurt and London Stock Exchange Has Reached a Merger Agreement
Two of the most prominent European stock exchange, Frankfurt and London has agreed to merge on Wednesday. The merger between them will create a new European trading powerhouse.
Shareholders of Citigroup and JPMorgan Will Vote on Potential Breakup
Shareholders of two U.S. prominent banks will vote later this year regarding the breakup plans for the banks. However shareholders are predicted to decline the plan submitted by liberal lobby activist
Bank of England is Predicted to Keep Interest Rate Low in Fear of Brexit
In fear of Brexit, economists predicted British central bank will keep its interest rate low. While Bank of England Governor Mark Carney warned that Brexit will damage British financial stability.
U.S. Stocks Wavered on Tuesday as Investors Wait for Fed Statement
U.S. stocks swung on Tuesday ahead of Fed statement. While Morgan Stanley and JPMorgan warned that similar to Europe and Japan, stimulus program may not be effective to stimulate growth.
