U.S. Housing Starts Rise on Jump in Multifamily Construction
U.S. homebuilding increased more than expected in August, a positive sign for the housing market which has underperforamed the broader economy amid rising interest rates for home loans.
Citigroup Hires Three Software Investment Bankers
Citigroup Inc. has hired three investment bankers for its technology investment banking group focused on software in the United States and in Europe, according to a memo published internally at the bank and confirmed by a spokeswoman on Monday.
How JPMorgan’s CFO Became the Top Prospect to Succeed Dimon
As a single mother with a British accent who loves numbers, Marianne Lake bears little resemblance to Jamie Dimon, the longtime CEO of JPMorgan Chase & Co., known for his bravado, quips and occasional profanity-laced outbursts.
Goldman Names New Operating Chief, Finance Head in Executive Shakeup
Goldman Sachs Group Inc. on Thursday announced its biggest management shakeup since naming David Solomon as CEO Lloyd Blankfein’s successor.
JPMorgan Looks Abroad as It Commits $500M More to Urban Renewal
JPMorgan Chase & Co. will provide $500 million over five years to promote economic opportunities in selected cities, including some outside the United States, the bank said Wednesday.
Goldman Banker Had Raised Ethics Concerns
A former Goldman Sachs Group Inc. partner had raised concerns about some unethical practices at the bank before he left in 2015, the New York Times reported on Tuesday, citing people close to the matter.
U.S. Probing Wells Fargo’s Wholesale Banking Unit
The U.S. Justice Department is probing whether employees committed fraud in Wells Fargo & Co.’s wholesale banking unit, following revelations that employees improperly altered customer information, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Verizon’s Media and Advertising Head Tim Armstrong to Leave
Verizon Communications Inc.’s head of media and advertising business Tim Armstrong is in talks to leave the U.S. wireless carrier, the Wall Street Journal reported on Friday, citing people familiar with the matter.
Citigroup CFO Gerspach to Retire, Be Replaced by Mason
Citigroup Inc.’s longtime CFO John Gerspach will retire in March, to be replaced by Mark Mason, CFO of the institutional clients group, the third-largest U.S. bank told employees on Tuesday.
Goldman Drops Bitcoin Trading Plans for Now
Goldman Sachs Group Inc. is ditching plans to open a desk for trading cryptocurrencies in the foreseeable future as the regulatory framework for crypto remains unclear, Business Insider reported on Wednesday, citing people familiar with the matter.
Merrill Lynch Does About Face on Fiduciary-Era Policy
Bank of America Corp.’s wealth management arm Merrill Lynch said on Thursday it is reintroducing commissions for its retirement accounts, reversing a policy put in place to comply with Obama-era regulation.
Best Buy Second-Quarter Online Sales Growth Slows, Shares Drop
Best Buy Co. Inc. on Tuesday reported online sales growth that decelerated from the previous quarter, sending its shares down 5 percent in premarket trade.
Wells Fargo Lays Off More than 600 Mortgage Workers
Wells Fargo & Co. is laying off more than 600 workers as it grapples with a slowdown in its mortgage business, a bank spokesman said on Friday.
Papa John’s Taps Investment Banks Amid Pressure from Founder
Papa John’s International Inc., the world’s third-largest pizza delivery company, has hired Bank of America Corp. and Lazard Ltd. to help find ways to stabilize the restaurant chain, which has come under pressure from its founder John Schnatter, people familiar with the matter said last week.
Morgan Stanley Halts Research Coverage of Tesla, Shares Rise
Brokerage Morgan Stanley has suspended equity coverage on Tesla Inc., hinting that the U.S. bank may be doing business directly with the company as it explores options to go private, pushing the electric carmaker’s shares up as much as 5 percent on Tuesday.
Wall St. Adds to Gains After Powell Comments
U.S. stocks added to their gains slightly on Friday after Federal Reserve Chair Jerome Powell said further interest rate hikes were the best way to protect the U.S. economic recovery.
JPMorgan Extends Sapphire Card Brand to Checking Accounts
JPMorgan Chase & Co. is expanding its high-end Sapphire brand to include checking accounts, hoping to attract and keep increasingly affluent Millennial customers, the largest U.S. bank said on Wednesday.
JPMorgan Undercuts Discount Brokerages on Trades
JPMorgan Chase & Co., in a bid to lure customers from the discount brokerage industry, said on Tuesday it will begin offering free stock trades for self-managed accounts through its Chase mobile banking app starting next week.
Tesla Nears Three-Month Low as JPMorgan Adds to Deal Doubts
Tesla Inc. shares fell nearly 4 percent on Monday as a $113 cut in JPMorgan Chase’s price target for the electric carmaker added to growing doubts among market players about a plan to take the company private.
Goldman Shareholders Can Again Pursue Class Action Over CDOs
A federal judge on Tuesday said Goldman Sachs Group Inc. shareholders may again pursue class-action claims that the bank concealed conflicts of interest when creating risky subprime securities before the 2008 financial crisis.
