banks

Goldman Sachs Group (NYSE: GS) reported fourth-quarter earnings of $4.69 per share Wednesday, missing the Street estimate of $5.46. The company reported quarterly sales of $9.96 billion, beating the Street estimate of $8.51 billion.  Goldman Sachs reported fourth-quarter investment...

Big banks are on deck to report quarterly results this week and two pros say one name stands out among the group: Goldman Sachs Group Inc (NYSE: GS). Newton: 'Decent Signs Of Strength' The banking sector was a "relative dog" for the first nine months of 2019, especially when the...

Banks across the globe announced plans to cut 77,780 jobs this year, the highest job cuts since 2015, Bloomberg reported on Friday. What Happened The number of cuts has nearly doubled since last year, but it is significantly lower than the 91,448 job cuts seen in 2015, Bloomberg data...

American private equity firm Cerberus owns a 3% stake in Germany's Deutsche Bank AG (NYSE: DB) and is pushing for the ouster of Chairman Paul Achleitner, CNBC reported Tuesday, citing two sources.  What Happened Achleitner was named chairman of Deutsche Bank back in 2012; since then,...

JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon spoke with CNBC's Wilfred Frost in London on Tuesday. Here are some key highlights from the conversation.  JPMorgan's third-quarter report showed an 8% increase in revenue year-over-year, which makes it more difficult to win...

Financial technology companies looking to assume roles banks play experienced a major setback this week. What Happened Fintech companies can no longer count on regulatory support from a special bank charter from the Office of the Comptroller of the Currency, which created a smoother path to...

Blockchain technology may well be the most transformative technology in a generation. And as the potential use cases have become mapped out, financial firms around the world have spent the past few years investigating how the technology can disrupt banking.  Banks playing around with...

UBS Group AG (NYSE: UBS) posted a net profit of $1.049 billion in the third quarter of 2019, according to the quarterly report the bank issued Tuesday.  What Happened UBS experienced a 16% year-over-year drop in net profit.  UBS’s investment banking unit saw a 59%...

Morgan Stanley (NYSE: MS) reported third-quarter earnings of $1.27 per share on Thursday, beating the analyst consensus estimate of $1.11. This is an 8.55% increase over earnings of $1.17 per share in the same period last year. The company reported quarterly sales of $10.03 billion, beating...

JPMorgan Chase & Co. (NYSE: JPM) shares were trading higher Tuesday after the bank posted third-quarter EPS of $2.68, beating the $2.45 Street estimate, and sales of $29.3 billion, which topped the analyst estimate of $28.49 billion.  “JPMorgan Chase delivered record revenue...

Wells Fargo & Co (NYSE: WFC) said Friday that it's naming Charles Scharf as CEO and president effective Oct. 21. Scharf was previously chairman and CEO of Bank of New York Mellon Corp. (NYSE: BK). The exec has worked more than 24 years in the banking and payments industries....

Bank of America analysts turned bullish on Canadian-based Bank of Nova Scotia (NYSE: BNS) after investor meetings with CEO Brian Porter and SVP Investor Relations Phil Smith. The Analyst Bank of America analyst Ebrahim Poonawala upgraded Bank of Nova Scotia's TSX-listed stock from Neutral to...

A regional diversified financial services company is part of the IPO slate this week. With the Fed reverting to monetary policy easing, it is prudent to look outside of pure-play bank stocks to defend against the net interest margin squeeze experienced by banks? Here's a look at the new equity...

JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon downplayed the likelihood of interest rates hitting zero, but the bank executive is taking steps to prepare for it, CNBC reported Tuesday.  What Happened Dimon said Tuesday at a conference in New York he doesn't believe the U.S. will...