By Tatiana Bautzer NEW YORK (Reuters) -Wall Street bankers face an increasingly gloomy job market after last month’s banking crisis worsened an already bleak outlook for pay and staffing. The failure of two U.S. banks – Silicon Valley Bank and Signature Bank – shook confidence in the industry and prompted government intervention to protect the …
Crisis jolts Wall Street bankers already resigned to tough job market Read More »
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Even as bitcoin flies high, investors are keeping their options open, judging by a record race to derivatives. Open interest for bitcoin options and futures has spiked over the past month as fear has stalked global banking, hitting an all-time high of 433,540 contracts on March …
WASHINGTON (Reuters) – The Internal Revenue Service will unveil its long-awaited 10-year spending plan for $80 billion in new funding to beef up enforcement and taxpayer services, U.S. Treasury Secretary Janet Yellen said on Tuesday, promising major investments in new technology and services. In prepared remarks at the swearing-in ceremony of new IRS Commissioner Danny …
US IRS to unveil $80 billion 10-year spending plan this week, Yellen says Read More »
By Mark Miller (Reuters) – The forecast for Social Security got a bit more cloudy last week, with the program’s trustees projecting that the critical retirement program will run short of cash one year earlier than had been forecast last year. But if the headlines stemming from the annual report of the Social Security trustees …
Column-The new US Social Security forecast: what it means for retirees Read More »
By Lisa Pauline Mattackal (Reuters) – March recorded the worst U.S. bank failures since the 2008 crisis, but that did not stop some investors from snapping up battered financial stocks to bolster their bets on the sector’s long-term health, fund-flow data showed. Exchange-traded funds tracking U.S. regional banks saw their strongest net inflows in months, …
What crisis? U.S. bank-focused ETFs see strongest demand in months in March Read More »
(Reuters) – U.S. short seller Hindenburg Research said on Friday Block Inc’s response to its allegations confirmed it had reported inflated user counts on its Cash App to investors for years. The payments firm led by Twitter co-founder Jack Dorsey said on Thursday that 44 million of its more than 51 million monthly active customers …
Hindenburg says Block response confirms it inflated Cash App user counts Read More »
(Reuters) -Shares of companies tied to former U.S. President Donald Trump gained in early trading on Friday, drawing interest from retail investors after the ex-president was indicted in a historic first. Trump, the frontrunner to be Republican nominee in 2024, was indicted by a Manhattan grand jury after an investigation into hush money paid to …
Trump-linked stocks gain on attracting retail traders’ attention Read More »
By Hannah Lang (Reuters) -Wells Fargo & Co will pay fines of about $97.8 million for inadequate oversight of its compliance risks, enabling the apparent violation of U.S. sanctions against Iran, Syria and Sudan, federal authorities said on Thursday. The Federal Reserve and the Treasury Department’s Office of Foreign Assets Control (OFAC) said the bank’s …
Wells Fargo to pay $97 million for sanctions compliance failures Read More »
(Reuters) – Short sellers made $14.3 billion in paper profit from their bearish bets on global banking stocks in March, according to analytics firm S3 Partners, as the collapse of U.S. lender Silicon Valley Bank reverberated across the sector. Fresh short selling in the banking sector increased by 11.4%, or $12.8 billion, globally in March, taking …
Shorting global banks fetches $14.3 billion in paper profit in March – S3 Partners Read More »
By Tommy Wilkes LONDON (Reuters) – BlackRock’s liability-driven investment business is urging some smaller UK pension fund clients to stop splitting assets across multiple managers, as it tries to cut the complexity and risks of a strategy that imploded last year. Asset managers worry new rules to make LDI investing more robust could render the …
BlackRock calls on clients to rethink hedging strategy after UK pension crisis Read More »
