archiveWLTH08

People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 18 (Reuters) - Morgan Stanley's (MS.N) third-quarter profit showed a hit from lethargic dealmaking and shares sank 6.5% as investors were also disappointed by smaller inflows to the wealth management division and the lack of announcements in the CEO succession.The bank saw a 27% drop in investment banking revenues from a year earlier and sluggish trading as dealflow took a hit when geopolitical...

A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsOct 17 (Reuters) - Bank of America (BAC.N) beat Wall Street estimates for quarterly profit on Tuesday as it joined rivals in earning more from interest payments, while benefiting from a better-than-expected performance of its investment banking and trading divisions.The U.S. economy has shown resilience despite rising interest rates as a hot job market and healthy finances prompt consumers to spend on goods, travel...

Customers use ATMs at a Citibank branch in the Jackson Heights neighborhood of the Queens borough of New York City, U.S. October 11, 2020. REUTERS/Nick Zieminski/File Photo Acquire Licensing RightsNEW YORK, Oct 13 (Reuters) - Citigroup's (C.N) third-quarter profit beat estimates on Friday as it benefited from a surge in trading revenue, investment banking fees and interest payments while undertaking its biggest overhaul in decades.The bank said it will cut management layers from 13 to eight as part of a sweeping reorganization. In the two top layers of leadership, 15%...

NEW YORK, Oct 10 (Reuters) - Profits at the biggest U.S. consumer lenders are likely to rise in the third quarter, in contrast with investment banks still facing a dealmaking slump, analysts said.JPMorgan Chase (JPM.N), which kicks off earnings for big U.S. lenders Friday, will set the tone for large banks. It is predicted to post a roughly 25% jump in earnings per share (EPS) versus a year earlier, LSEG estimates showed.Goldman Sachs (GS.N) and Citigroup (C.N) are expected to report the biggest EPS declines of 35% and 26% respectively,...

Oct 9 (Reuters) - Several U.S. banks have told their staff in Israel to work from home for the near future as the country goes on war footing and mobilises reserve troops following a deadly attack by Palestinian Islamist group Hamas two days ago.JPMorgan Chase (JPM.N), the largest U.S. bank with more than 200 employees in Israel, and Citigroup (C.N) have approved such a work plan, sources at the Wall Street lenders told Reuters on Monday.Investment banking giant Goldman Sachs (GS.N) has also directed employees at its Tel Aviv offices...