Citigroup Inc on Friday told its staff that it would terminate employees who are unvaccinated as of Jan. 14, enforcing a policy previously announced last year, according to a source familiar with the matter. Citigroup said in October it would require U.S. employees to be vaccinated against COVID-19 as a condition of their employment. The … Read more
JP Morgan Chase has become the world’s most systemically important bank once again according to the latest annual ranking of top lenders by global regulators, with BNP Paribas and Goldman Sachs also now deemed more systemic. The Financial Stability Board (FSB), made up of regulators from G20 countries, published its latest table of the world’s … Read more
U.S. bank stocks are morphing from leaders into losers amid more signs that their searing 35% rally through this year’s first five months may have outrun the fundamentals. With two weeks left in the quarter, some investors aren’t waiting around to find out. The S&P 500 Banks Index, which rose three times more than the … Read more
By Jared Dillian I’ve been either investing or writing about investing for 22 years, and I’ve seen a lot of weird stuff, but nothing as weird as Dogecoin, the lighthearted dog-themed cryptocurrency that was created as a joke. It’s now valued at more than $50 billion, exceeding Ford Motor Co. and many other companies with … Read more
MUMBAI: Radhakishan Damani-owned Avenue Supermarts may see its profit drop by at least a third in the quarter ended September due to lower footfalls on the back of extended lockdowns amid the Covid-19 pandemic. Kotak Institutional Equities expects the company’s net profit to drop 33.5 per cent year-on-year (YoY) to Rs. 221.7 crore, while it … Read more
By Caroline Valetkevitch NEW YORK: While good business news has been in short supply, investors may take slight comfort in coming weeks from U.S. corporate earnings that are likely to be bad, but not as bad as they have been. Analysts expect third-quarter S&P 500 earnings to have fallen 21 per cent compared with the … Read more
By Lewis Krauskopf The Nov. 3 presidential election between President Donald Trump and former Vice President Joe Biden could have dramatic effects across markets, and investors are already trying to identify potential winners and losers. Broadly speaking, analysts say Biden’s plan to raise corporate taxes could pressure company earnings. But they expect him to support … Read more
By Julia Fanzeres The coronavirus pandemic and the response by governments and central banks have family offices and ultra-wealthy individuals around the world on the defensive, according to a survey from Citigroup Inc.’s private bank. About three-quarters of respondents described their 12-month investment sentiment as “cautious.” That increased to 84% when adding those who said … Read more
At Bank of America, the multibillion-dollar mishap wasn’t the first involving customer accounts. (Reuters photo) Days after Citigroup Inc. made headlines for accidentally sending $900 million to a group of lenders, a Bank of America Corp. customer in Massachusetts opened his account to find an even bigger cash infusion: $2.45 billion. But the money was … Read more
NEW YORK: Has Wall Street missed the news that we are in a pandemic? The US economy remains battered by the coronavirus outbreak and Congress is deadlocked on another stimulus bill – yet the US stock market just hit a new record intraday high. While it may seem like investors have failed to factor in … Read more