Displaying 18 results
Four major banks settle stock-lending suit
Pension funds led by the Iowa Public Employees' Retirement System brought an antitrust action related to the banks' control of the market for stock loans used for hedging and short selling.
Goldman to pay $215 million to settle case on underpaying women
The trial, which had been scheduled for next month in New York, would have provided a rare public forum for testimony about inequality inside the financial industry.
Morgan Stanley planning to eliminate 3,000 employees in fresh round of job cuts
The head count reductions, which are the bank’s second round within six months, will spare wealth management teams, including advisors.
Six biggest banks on Wall Street failing key ESG test, study says
JPMorgan, Bank of America, Citigroup are listed as falling short in an analysis by Ceres and the Transition Pathways Initiative.
First Republic gets $30 billion in fresh deposits in bank rescue
The plan, which the banks devised with US regulators, is meant to stave off a widening panic in the wake of regulators' seizure of Silicon Valley Bank and Signature Bank over the past week.
Cash to bolster portfolios in the year ahead, investors say
Passive funds and ETFs won’t completely supplant active managers, but their market share will continue to rise.
Goldman plans to slash hundreds of more jobs
Chief Executive Officer David Solomon has said he’s dialing back the firm’s ambitions for consumer banking.
Federal Reserve places Goldman’s consumer banking unit under review
At midyear, the bank’s own internal forecast estimated the business would post a record loss of more than $1.2 billion this year.
Goldman plans to eliminate several hundred positions in new round of job cuts
The reductions are a resumption of Goldman’s annual culling cycle that it had largely paused during the pandemic.
Goldman rethinking consumer unit’s online checking feature
Goldman has been straining to prepare a feature that would let users set up direct deposits and pay their bills online, but it's constrained by the accelerating losses on its online platform, Marcus.
Wall Street banks’ record fines reflect regulators’ frustrations over unmonitored messaging
SEC, CFTC worried that messages were being completely lost and would ultimately make it harder to look for wrongdoing.
Wall Street texting habit sticks banks with rare $1 billion bill
The sweeping civil probes rank among the largest-ever penalties levied against US banks for record-keeping lapses.
Wirehouses ready for their ‘Empire Strikes Back’ moment on adviser fintech
Morgan Stanley revealed its fully armed and operational adviser fintech ecosystem at a recent media event in New York City.
Scrutiny of ESG investments heralds better days ahead, managers say
Tough examination of loosely regulated funds with higher environmental, social and governance standards could help the industry, sustainable fund managers say.
Goldman says signs are here of belt-tightening impact to profits
Some investors worry that higher living costs, rising bond yields and weak trailing equity returns may lead to household capitulation in the equity market.
Goldman women pick lawsuit over arbitration but many abstain
Almost everyone who’s responded wants to stay in court. But half of the group didn’t respond at all, which means they’re leaving the lawsuit.
Goldman sees US recession risk as high as 35%, cuts forecast
Recession odds in-line with 20%-35% implied by yield curve due to soaring oil prices and fallout from war in Ukraine.
Goldman Sachs sells its first ESG bonds
Strong investor demand for sustainable investments pushes offering at the last minute up by $50 million to $800 million.
