Wall Street
Deutsche Bank CEO says acquisitions not a ‘priority’ as Commerzbank rumors swirl
Christian Sewing, Chief Executive Officer of Deutsche Bank, has acknowledged that a recession in Germany is inevitable, and urged leaders to accelerate its decoupling from China. Denis Balibouse | Reuters Deutsche Bank CEO Christian Sewing on Thursday said that merger and acquisition activity is not a priority for his group, as speculation resurfaces over the […]
Barclays CEO says difference in Labour and Conservative economic policy is ‘fairly minimal’
LIVERPOOL, U.K. – Oct. 11, 2023: Britain’s main opposition Labour Party leader Keir Starmer applauds a speaker the final day of the annual Labour Party conference in Liverpool, northwest England, on October 11, 2023. Paul Ellis | Afp | Getty Images Political risk in the U.K. is “far less than it’s ever been” as the […]
UBS CEO says Swiss public ‘indoctrinated’ to worry about bank’s balance sheet
Sergio Ermotti, chief executive officer of UBS Group Stefan Wermuth | Bloomberg | Getty Images UBS CEO Sergio Ermotti on Wednesday said people with concerns about the size of the bank’s balance sheet are getting “indoctrinated” by academics and should “do their homework.” UBS completed its takeover of Credit Suisse in June 2023 after an […]
Morgan Stanley revenue tops estimates, helped by strong investment banking business
The Morgan Stanley headquarters is seen in New York City on Jan. 17, 2023. Michael M. Santiago | Getty Images Morgan Stanley on Tuesday reported fourth-quarter revenue that surpassed expectations, boosted by the strength in investment banking. Here’s how the bank did compared with Wall Street expectations: Earnings per share: 85 cents, may not compare […]
Goldman Sachs is set to report fourth-quarter earnings — here’s what the Street expects
David Solomon, Chairman and CEO, Goldman Sachs, participates in a panel discussion during the annual Milken Institute Global Conference at The Beverly Hilton Hotel on April 29, 2019 in Beverly Hills, California. Michael Kovac | Getty Images Entertainment | Getty Images Goldman Sachs is scheduled to report fourth-quarter earnings before the opening bell Tuesday. Here’s […]
Why spot ETFs may be a game changer for bitcoin
The Securities and Exchange Commission’s approval of 11 spot bitcoin ETFs this week could be a turning point for cryptocurrency investing. Ark Invest CEO and Chief Investment Officer Cathie Wood is behind one of the new ETFs. Her firm partnered with 21Shares to launch the ARK 21Shares Bitcoin ETF. “We really believe this is an […]
Bill Ackman is creating an activist organization to fight antisemitism, reform higher education
Hedge fund billionaire Bill Ackman, who recently fought a high-profile battle against Harvard University, said Friday that he’s starting an activist organization to fight antisemitism and reform higher education. “It’s going to be a ‘think-and-do tank’. It’s going to be an activist,” Ackman said in an interview with CNBC’s Andrew Ross Sorkin on “Squawk Box.” “I’m […]
Wells Fargo posts higher fourth-quarter profit, helped by higher interest rates and cost cutting
Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year. “As we look forward, our business performance remains sensitive to interest rates and the health of the U.S. economy, but we are confident […]
Citigroup posts $1.8 billion fourth-quarter loss after litany of charges
Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images Citigroup on Friday posted a $1.8 billion fourth-quarter loss after booking […]
Bank of America shares fall after company reports lower fourth-quarter profit, hit by regulatory charge
Bank of America Chairman and CEO Brian Thomas Moynihan speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023. Evelyn Hockstein | Reuters Bank of America shares fell more than 2% in premarketing trading on Friday after the firm […]