Wall Street banks forced to cut jobs due to slump in IPOs, debt securities and mergers

pte20230504004 Company/economy, trade/services Slump in IPOs, debt securities and mergers forces Wall Street to cut jobs significantly Morgan Stanley: Institute has to cut many jobs (Photo: unsplash.com, Sven Piper) New York (pte004/04.05.2023/06:15) – The sharp drop in IPOs, debt securities and mergers is forcing major Wall Street banking institutions to make significant job cuts. After […]

Why the Banking Crises Persist: The Consequences of Gambling with Credit

The banking system in free fall Regulators and politicians around the world are trying to allay fears of a new banking crisis. But the bankruptcy of Silicon Valley Bank and the emergency merger of UBS and Credit Suisse were not the end. Even after the experiences of 2008, it was not possible to regulate the […]

Warren Buffett, prominent investor, steps in amidst SVB bankruptcy causing banking crisis.

Warren Buffett The star investor had already become active during the 2008 financial crisis. (Photo: AP) Denver Bankers, regulators and government officials have been dealing with a central question for days: How can trust in the US banking system be restored after the Silicon Valley Bank (SVB) went bankrupt? Star investor Warren Buffett is apparently […]

“Equities in New York Ignore ECB Rate Hike and Experience Upswing: ROUNDUP”

NEW YORK The leading index Dow Jones Industrial shook off initial losses and recently rose by 0.21 percent to 31,940.38 points. The other indices presented themselves even stronger: The market-wide S&P 500 rose by 0.70 percent to 3919.10 points and the technology-heavy Nasdaq 100 by 1.31 percent to 12,411.57 points. Shortly before the start of […]

Despite the good results, Bank of America sees its profit decline in the third quarter

Bank of America said on Monday that it posted better-than-expected quarterly revenue in the third quarter, but its profit fell after it set aside more cash, also in preparation for a deteriorating economic situation. The bank added $378 million in reserves from August through September, up sharply from $48 million in the prior quarter. However, […]

Quarter loss Master. Buffett’s firm, Berkshire, lost nearly $44 billion

Operating profit, which Buffett sees as a better indicator of a company’s performance, rose 39 percent year over year to $28 billion in the quarter. The performance of reinsurance companies and BNSF’s rail division in the conglomerate’s portfolio offset the loss of insurer Geico, where a shortage of auto parts and higher vehicle prices increased […]

The Czechia will hit hard without gas. Bank of America is facing disaster

The Czech Republic will be hit hardest of all the countries in the Central and Eastern European region by a possible outage or a more permanent noticeable reduction in Russian gas supplies to the EU, warns the leading American bank Bank of America. The Bloomberg agency published the key conclusions of its respective analysis. Analysts […]

US stock markets close in the red after falling

The American flag on the NYSE Prices in the US recovered on Monday. – (Photo: AP) – – – – New York The US stock exchanges closed on Monday after a roller coaster ride with price reductions. The US standard value index Dow Jones went 0.7 percent lower with 31,072 points from trading. The technology-heavy […]

Titres en action: Goldman Sachs, Suncor, Bank of America, Delta

– Here is a selection of announcements that have moved (or will move) the prices of these companies: (Come back to read us from time to time so as not to miss an update) Goldman Sachs: profit almost halved, but better than expected thanks to brokers The American merchant bank Goldman Sachs (GS, US$303.60) saw […]

New surge in inflation weighs on Wall Street – Dow Jones closes in the red

New York Another surge in inflation in the US is stoking investor concerns about higher interest rates and a collapsing economy. The US dollar received a tailwind from this on Wednesday, while the euro slipped below par with the US currency for the first time since 2002. The European stock markets went down noticeably. The […]