CITIGROUP reported a decline in fourth-quarter profit on Friday (Jan 13) as it hiked provisions to prepare for a worsening economy, and investment-banking revenue fell on a sharp drop in dealmaking activity.
THE Indian government is allowing banks to verify individual transactions that exceed a certain annual limit using facial recognition and an iris scan in some cases, three sources said. The move is intended to reduce fraud and tax evasion.
GLOBAL equity funds drew their first weekly inflow in 10 weeks in the week to Wednesday (Jan 11), on hopes of easing inflation and expectations that China’s reopening would boost global economies.
GLOBAL equity funds drew their first weekly inflow in 10 weeks in the week to Wednesday (Jan 11), on hopes of easing inflation and expectations that China’s reopening would boost global economies.
WELLS Fargo on Friday (Jan 13) reported a 50 per cent decline in profit for the fourth quarter as the bank racked up more than US$3 billion in costs related to a fake accounts scandal and boosted loan loss reserves for a potential economic slowdown.
JPMORGAN reported a 6 per cent rise in fourth-quarter profit on Friday (Jan 13), as a better-than-expected performance from the bank’s traders more than offset a hit from a slump in dealmaking.
BANK of America Corp reported a better-than-expected fourth-quarter profit on Friday (Jan 13) as rate hikes helped it charge more interest on loans to customers.
GOLDMAN Sachs Group on Friday (Jan 13) revised its pre-tax loss related to its newly formed platform solutions unit for the first nine months of 2022 to US$1.2 billion, the bank said in a regulatory filing.
GOLDMAN Sachs Group disclosed a pretax loss for its newly-created platform solutions business of US$1.2 billion for the first nine months of 2022, the bank said in a regulatory filing on Friday (Jan 13).
