Hints and tips:
Related Special Reports
...US campaign groups are spending millions of dollars to hire social media influencers with modest followings, seeking to sway voters from niche communities in tightly fought elections across the country in...
...Credit Suisse, UBS, Morgan Stanley, Goldman, Wells Fargo, Nomura and Deutsche Bank declined to comment....
...Panamanian workers had to be paid in cash every 14 days, yet Koch and some of his colleagues frequently found themselves frozen out of their local bank accounts, probably due to the source of their funds...
...increased from 300,000 to 2.5mn between October and November....
...Exchange traded funds, already thrashing mutual funds in the battle for new investor dollars, are beginning to challenge another bastion of the asset management industry, a survey of US asset managers suggests...
...Wells Fargo has had an asset cap since 2018 as punishment for opening millions of false accounts, which has curtailed profitability....
...As the Financial Times reported, that is more than double the increase of the next bank, Wells Fargo, which reported a 16.5 per cent rise....
...Citi, where two-thirds of its deposits are held in corporate accounts, is paying an average rate of 3.4 per cent on interest-bearing deposits, up from 1.2 per cent a year ago....
...Ten stories you may have missed over the break Hedge fund numbers are starting to roll in for 2024. Sir Christopher Hohn’s activist hedge fund TCI rose 32.7 per cent, well ahead of equity markets....
...The currency has risen by around 8 per cent in November to 3.74 shekels per dollar on Friday, more than reversing a fall of nearly 6 per cent in the first 20 days of the conflict when investors took fright...
...by signing up for a checking and a savings account. Even credit card companies are jumping in, with American Express offering $250 to new current account customers....
...(FT) Allen & Overy rolls out AI contract negotiation tool in challenge to legal industry (FT) Wells Fargo branch workers vote to form union in a first for major US bank (FT) Barclays agrees deal to stay...
...In December, the Consumer Financial Protection Bureau fined Wells Fargo $1.7bn and ordered it to pay $2bn in redress to customers for mismanagement of mortgages, car loans and bank accounts....
...Millennium was forced to sharpen up risk oversight after it agreed in 2005 to pay $180mn for its “participation in a fraudulent scheme to market time mutual funds” in a case brought by then-New York attorney-general...
...Wells Fargo has partnered with asset manager Centerbridge to launch a $5bn private credit fund that will lend to midsized US companies, as banks race to find a toehold in the rapidly growing private credit...
...Altman has suggested it could cost in the order of a trillion dollars to develop AGI, largely due to the infrastructure and data required to train more sophisticated models....
...Citadel has moved almost 300 employees to Miami during what the hedge fund describes as a multiyear effort to shift its operations out of Chicago....
...However, just a fraction of the more than 4,000 banks in the US have signed up for FedNow, including large lenders such as JPMorgan Chase and Wells Fargo, alongside service providers Fiserv and Jack Henry...
...IA figures suggest that UK investors now hold less of their individual savings accounts — a key retail savings vehicle — in China-only funds than they do in India-only funds, even though India’s economy...
...Upbeat first-quarter earnings from JPMorgan Chase, Citigroup and Wells Fargo on Friday underscored how a number of bank collapses in the US in March had benefited the biggest lenders as customers sought...
...It’s up 7 per cent in yen terms. And that’s still two or three in dollar terms. That’s pretty good. The S&P 500 is just like skittling records....
...Wells Fargo chief executive Charlie Scharf last week told analysts and investors that the bank, which has $142bn in commercial real estate loans outstanding, is managing its exposure to the area....
...Last week, some of the biggest US banks, JPMorgan Chase, Wells Fargo and Citigroup, announced they had raked in billions of dollars in deposits from customers fleeing smaller lenders following SVB’s collapse...
...The biggest contributors — Bank of America, Citigroup, JPMorgan and Wells Fargo — each put in $5bn, with the rest depositing between $1bn and $2.5bn each....
...He also ended up putting hundreds of millions of dollars of his own money into others to recapitalise them. “We lost a lot of money,” he says....
International Edition