David Solomon, chief executive officer of Goldman Sachs Group Inc., during an interview for an episode of “The David Rubenstein Show: Peer-to-Peer Conversations” in New York, US, on Tuesday, Aug. 6, 2024. Jeenah Moon | Bloomberg | Getty Images Goldman Sachs topped estimates for third-quarter profit and revenue on strong results from its stock trading and investment banking operations….
Former President Donald Trump and Vice President Kamala Harris face off in the ABC presidential debate on Sept. 10, 2024. Getty Images With the U.S. election less than a month away, the country and its corporations are staring down two drastically different options. For airlines, banks, electric vehicle makers, health-care companies, media firms, restaurants and tech giants, the outcome…
JPMorgan Chase CEO and Chairman Jamie Dimon 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 JPMorgan Chase CEO Jamie Dimon sees risks climbing around the world amid widening conflicts in the Middle East and with Russia’s invasion…
JPMorgan Chase posted third-quarter results that topped estimates for profit and revenue as the company generated more interest income than expected. Here’s what the company reported: Earnings: $4.37 a share vs. $4.01 a share LSEG estimate Revenue: $43.32 billion, vs. $41.63 billion estimate JPMorgan said profit fell 2% from a year earlier to $12.9 billion, while revenue climbed 6%…
Federal Reserve Board Chairman Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., September 18, 2024. REUTERS/Tom Brenner Tom Brenner | Reuters Falling interest rates are usually good news for banks, especially when the cuts aren’t a harbinger of recession. That’s because lower rates will…
A TD bank stands in Brooklyn on June 04, 2024 in New York City. Spencer Platt | Getty Images TD Bank pleaded guilty Thursday to multiple criminal charges and agreed to pay a whopping $3 billion in fines and other penalties to the Department of Justice and financial regulators for failing to monitor money laundering by drug traffickers and…
Justin Sullivan | etty Images The U.S. Justice Department on Tuesday sued Visa, the world’s biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing “exclusionary” agreements on partners and smothering upstart firms. Visa’s moves over the years have resulted in American consumers and merchants paying billions of dollars in additional fees, according to…
Daniel Pinto, president and chief operating officer of JPMorgan Chase, speaks during the Semafor 2024 World Economy Summit in Washington, DC, on April 18, 2024. Saul Loeb | AFP | Getty Images JPMorgan Chase shares fell 5% on Tuesday after the bank’s president told analysts that expectations for net interest income and expenses in 2025 were too optimistic. While…
A top Federal Reserve official on Tuesday unveiled changes to a proposed set of U.S. banking regulations that roughly cuts in half the extra capital that the largest institutions will be forced to hold. Introduced in July 2023, the regulatory overhaul known as the Basel Endgame would have boosted capital requirements for the world’s largest banks by roughly 19%….
A man counts 100 renminbi notes with the Chinese flag in the background. Sheldon Cooper | SOPA Images | LightRocket | Getty Images China’s new bank loans fell to a 15-year low in July in what some analysts see as a sign of continued weakness in the economy. But others said investors “should not panic” as seasonality and regulations…