Wells Fargo announces profit increase
Wells Fargo & Co's profits increased however its mortgage banking income had fell, said a Reuters report.
Investment banks
UPS Picks Goldman Sachs to Oversee Its $43.4 Billion Pension Funds
UPS has picked banking giant Goldman Sachs to handle its $43.4 billion pension fund assets in the United States and Canada.
Embattled New York Community Bancorp to Sell $5 Billion of Mortgage Warehouse Loans to JPMorgan Chase
New York Community Bancorp (NYCB), a regional lender facing financial challenges, has announced its agreement to sell approximately $5 billion in mortgage warehouse loans to JPMorgan Chase...
JPMorgan Chase Australia Fined Over $500,000 for Allowing Suspicious Client Orders on Wheat Futures Trading
The JPMorgan Chase in Australia has been fined A$775,000 ($509,252) for permitting suspicious client orders on wheat futures trading...
US Banks See Loan Demand Drop, Fed Survey Says
US banks have observed a fresh decline in loan demand for industrial purposes and household demand for credit during the first quarter of the year, according to a Federal Reserve survey...
Goldman Sachs Removes Bonus Cap for UK Bankers
After the UK removed local pay restrictions for bankers last year, Gol...
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...
Latest News
Flurry of retail buyouts, mergers seen amid hedge fund closures
Retail buyouts and mergers lead by foreign exchange market broker FXCM Inc had been seen proliferating in the midst of closures of some of the biggest hedge funds in the US and European Union.
Citigroup hires Attolico, Di Stefano to run Italy investment bank
Citigroup Inc. had hired Leopoldo Attolico and Pierpaolo di Stefano to run its investment banking operations in Italy, said a Bloomberg report.
Barclays promotes John Miller as Americas banking head
Barclays Plc promoted investment banker John Miller as head of banking for the Americas division of the bank, according to an internal memo seen by Reuters.
Obama nominates Yellen to become Fed Chair
US President Barack Obama would nominate the Vice Chairwoman of the Federal Reserve to replace outgoing chairman Ben Bernanke whose term ends in January next year.
JPMorgan looks to cut lending to some businesses
JP Morgan Chase & Co, the biggest bank in the US, would cut lending to some businesses as risks confronted the bank's reputation, said a report from the Wall Street Journal.
UK government plans to increase Royal Mail shares to cater to small, public investors
The Guardian said the British government might increase the 30% Royal Mail share allocation it would be selling to small and public investors.
Monte Paschi to cut more jobs in return from EU bailout
Monte Paschi would cut more jobs to be able to secure a state bailout fund from the European Union, said a Bloomberg report.
Morgan Stanley leads profit gains in US lenders
Morgan Stanley along with Bank of America Corp and Wells Fargo & Co. would lead the six biggest lenders in the US banking sector, said a Bloomberg report.
Santander to acquire 51% of El Corte Ingles finance unit
On Monday, Spain’s Santander said that it had agreed to buy a 51% stake in the largest consumer finance business from El Corte Ingles.
