By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Deutsche Bank’s investment banking bonus pool for last year will fall by somewhat less than 10%, a person with knowledge of the matter said on Friday, providing more evidence of tougher times in finance. Bankers working on M&A origination and advisory will face around a 40% …
Deutsche Bank investment bank bonus pool down less than 10% – source Read More »
By Chris Taylor NEW YORK (Reuters) – If your kid happens to be in public school in Portland, Dallas, Los Angeles or Oakland and is taking a personal finance workshop in the coming months, ask them if they caught sight of one of the founders of the program. If he is 6-foot-4 (1.93 meters), more …
Football and Finances: NFL’s Ndamukong Suh teaches kids money smarts Read More »
LONDON (Reuters) – The bosses of global investor Fidelity International and accountancy giant EY have voiced concerns about a fracturing of relations between the U.S. and China, speaking at the World Economic Forum in Davos on Tuesday. Anne Richards, CEO of the $610 billion money manager Fidelity International, put her level of worry about a …
U.S.-China friction stokes concern among some top finance bosses Read More »
By Mehnaz Yasmin and Carolina Mandl (Reuters) – Citigroup Inc reported a 21% fall in quarterly profit on Friday, missing forecasts, as the bank increased provisions to prepare for a worsening economy and investment banking revenue declined due to a sharp drop in dealmaking activity. Fears of a potential recession prompted Citi to add $640 …
Citigroup misses profit estimates on provision hike, dealmaking slowdown Read More »
By Manya Saini and Lananh Nguyen (Reuters) -Bank of America Corp reported a bigger-than-expected fourth-quarter profit on Friday, helped by a surge in net interest income as the U.S. Federal Reserve raised rates through most of last year. The ‘higher-for-longer’ rate environment to battle decades-high inflation has underpinned profits at consumer banks, with analysts expecting …
Bank of America profit tops estimates as higher rates boost income Read More »
By Noor Zainab Hussain and Hannah Lang (Reuters) -Wells Fargo & Co on Friday reported a 50% decline in profit for the fourth quarter, missing analysts’ estimates, as the bank racked up more than $3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown. The …
Wells Fargo misses profit estimate on higher reserves, scandal costs Read More »
By Chris Taylor NEW YORK (Reuters) – If there was only one word to sum up 2022, “unpredictable” might be the most accurate. Yet we all enjoy trying to predict the future, especially when it comes to our finances – to protect ourselves from the downside, or to take advantage of the upside. What does …
Debt bomb, biotech bump and a bond rally: 2023 money predictions Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – A tentative bounce in U.S. stocks is about to face a key test, as companies get set to report fourth-quarter results amid worries over a potential recession in 2023. Analysts expect earnings for S&P 500 companies to have declined 2.2% for the quarter compared with a year ago, …
By Davide Barbuscia, Carolina Mandl and Shankar Ramakrishnan NEW YORK (Reuters) – Investors are increasing their exposure to U.S. corporate bonds as they take advantage of a surge in supply, but some say conflicting opinions about the economy are creating both long and short trading opportunities. The belief that the Federal Reserve may be nearing …
Analysis-U.S. credit lures investors but recession risk could mean wild 2023 Read More »
(Reuters) – Morgan Stanley expects the oil market to tighten during the third and fourth quarter of 2023, supported by a recovery in demand prompted by China reopening its borders among other factors. “We see the oil market coming into balance in 2Q and turning tight in 3Q and 4Q, supporting higher prices later this …
Tight supply to support oil prices in H2, Morgan Stanley says Read More »
