Goldman Sachs to kick off Wall Street layoff season with hundreds of job cuts this month

People enter the Goldman Sachs headquarters building in New York, US, on Monday, June 14, 2021. Michael Nagle | Bloomberg | Getty Images Goldman Sachs is planning on cutting several hundred jobs this month, making it the first major Wall Street firm to take steps to rein in expenses amid a collapse in deals volume. … Read more

JPMorgan (JPM) fintech deal to acquire Renovite to battle Stripe and Block

The main entrance at JPMorgan’s headquarters in New York City. Erik McGregor | LightRocket | Getty Images JPMorgan Chase has agreed to acquire a payments startup called Renovite to fend off threats from fintech firms including Stripe and Block, CNBC has learned. The bank, a major player in the global payments arena, said that acquiring … Read more

‘Forget the past three years’

Eugene Zhang, founding partner of Silicon Valley VC firm TSVC Spencer Greene, general partner of TSVC Courtesy: TSVC Eugene Zhang, a veteran Silicon Valley investor, recalls the exact moment the market for young startups peaked this year. The firehose of money from venture capital firms, hedge funds and wealthy families pouring into seed-stage companies was … Read more

U.S. charges Iranian in plot to assassinate John Bolton

National Security Advisor John Bolton answers questions from reporters as he announces that the US will withdraw from a treaty with Iran during a news conference in the White House briefing room in Washington, October 3, 2018. Jonathan Ernst | Reuters WASHINGTON — The Department of Justice charged an Iranian national on Wednesday for plotting … Read more

Goldman Sachs says regulators are investigating credit-card practices

Goldman Sachs CEO David Michael Solomon attends the discussion on “Women Entrepreneurs Through Finance and Markets” at the World Bank on October 18, 2019 in Washington, DC. Olivier Douliery | AFP | Getty Images Goldman Sachs said that its credit-card business is being investigated by the Consumer Financial Protection Bureau over a range of billing … Read more

JPMorgan hires scientist Charles Lim to head quantum-computing unit

Dr. Charles Lim, Global Head of Quantum Communications and Cryptography, JP Morgan Chase Courtesy: JP Morgan Chase JPMorgan Chase has hired a Singapore-based quantum-computing expert to be the bank’s global head for quantum communications and cryptography, according to a memo obtained by CNBC. Charles Lim, an assistant professor at the National University of Singapore, will … Read more

Credit Suisse CEO to step down from embattled investment bank, WSJ says

Credit Suisse Chief Executive Thomas Gottstein addresses the Finanz und Wirtschaft Forum conference in Zurich, Switzerland, September 2, 2020. Arnd Wiegmann | Reuters Credit Suisse CEO Thomas Gottstein is about to step down from the embattled investment bank, the Wall Street Journal reported on Tuesday. The Zurich-based bank will soon announce the departure of Gottstein … Read more

Goldman CEO David Solomon says inflation is ‘deeply entrenched’ in the global economy

Goldman Sachs CEO David Michael Solomon attends the discussion on “Women Entrepreneurs Through Finance and Markets” at the World Bank on October 18, 2019 in Washington, DC. Olivier Douliery | AFP | Getty Images Goldman Sachs CEO David Solomon said Monday that inflation is deeply entrenched in the economy and it’s unclear whether the situation … Read more

Bank of America (BAC) 2Q 2022 earnings

Bank Of America CEO Brian Moynihan is interviewed by Jack Otter during “Barron’s Roundtable” at Fox Business Network Studios on January 09, 2020 in New York City. John Lamparski | Getty Images Bank of America on Monday posted mixed second-quarter results that included the benefit from rising interest rates and about $425 million in expenses … Read more

Citigroup (C) 2Q 2022 earnings beats

Citigroup on Friday posted second-quarter results that beat analysts’ expectations for profit and revenue as the firm benefited from rising interest rates and strong trading results. Here’s what the bank reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $2.19 vs $1.68 expected Revenue: $19.64 … Read more