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...President Joe Biden has called for higher taxes on the wealthy and large corporations, taken a tougher approach to antitrust enforcement, sided with labour unions in contract negotiations and criticised...
...The companies, whose plans were first reported by the Financial Times last year, share a set of officers, including two co-founders — chief executive Nathaniel Horwitz and publisher Sam Koppelman — general...
...Millennium gained 3.7 per cent in the first quarter of this year and has delivered average annual returns of about 14 per cent since inception, according to investors....
...The bank also bought most of failed US lender First Republic last year....
...This was the first time he has sold shares in the bank other than for charitable or tax purposes. Jefferies said Handler, 62, was using the cash to buy a boat and pay tax obligations....
...JPMorgan Chase, Wells Fargo and Citigroup all reported first-quarter earnings on Friday and warned that the future looks a little rocky. I’m joined now by the FT’s Josh Franklin to talk about it....
...Profits may be hit by additional fees as part of the Federal Deposit Insurance Corporation’s plan to recover losses associated with rescuing Silicon Valley Bank and Signature Bank last year, most of which...
...Joshua Franklin First Republic was the second-largest bank failure in US history, and the biggest that we’d seen in the US since the 2008 financial crisis....
...The largest US bank by assets reported first-quarter net income of $13.4bn, up from $12.6bn a year earlier and more than analysts had expected....
...Goldman Sachs’ profits rose 28 per cent in the first quarter, as a strong performance at its hallmark trading business helped the Wall Street bank easily surpass analysts’ estimates....
...Goldman Sachs’ profits rose 28 per cent in the first quarter, far ahead of analysts’ estimates, boosted by its trading business and a nascent recovery in investment banking....
...Profits at Wells fell 7 per cent in the first quarter from a year earlier....
...Morgan Stanley said net income in the first quarter was $3.4bn, up from $3bn a year earlier, beating analysts’ estimates for $2.7bn, according to forecasts compiled by Bloomberg....
...biggest year-on-year drop in quarterly profits since the second quarter of 2020, according to BankRegData, a data provider that collates quarterly reports made by lenders to the Federal Deposit Insurance Corporation...
...In 2009, Mnuchin led a group of private equity investors that bought IndyMac, a mortgage lender that failed in the 2008 financial crisis, from the Federal Deposit Insurance Corporation....
...Marc FilippinoJosh Franklin is the FT’s US banking editor. Thanks, Josh. Joshua FranklinThanks, Marc....
...The quarter was the first under Pick, whose background in investment banking and trading contrasts with predecessor James Gorman’s years in wealth management....
...Events: First day of meteorological spring....
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
...The US had also suffered its first serious banking stress since the financial crisis, with a spate of regional banks collapsing in the first half of that year....
...“Of course, US leaders must always put America first, but global peace and order are vital to American interests.”...
...They have also garnered the support of Republicans in the House, who called on the heads of the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency...
...Part of the reason for the profit drop was last year’s banking turmoil — the Federal Deposit Insurance Corporation imposed a one-time charge on many US banks in order to pay for losses, which the FDIC’s...
...At first, it was Lazard and Rothschild that Roger Altman’s boutique New York investment bank Evercore had in its sights....
...JPMorgan, for the 11th straight year, came first....
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