Goldman Sachs Q4 Profit Misses View, But Revenue Beats

Goldman Sachs Group Inc. (GS) reported a profit for the fourth-quarter that declined 26 percent from last year, reflecting higher operating costs. But, net revenues rose 23% due to higher net revenues in Asset Management and Global Markets. Quarterly earnings per share missed analysts’ expectations, while revenues beat their estimates. Net earnings applicable to common shareholders for the fourth-quarter decreased […]

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Bank of America profit slips as Fed slashes interest rates

Bank of America CEO on paying every employee at least $20 an hour Bank of America CEO and chairman Brian Moynihan discusses digital banking and increasing hourly wages. Bank of America's profit dropped 3.9 percent in the last three months of 2019 as interest-rate cuts by the Federal Reserve rendered new loans less lucrative, posing a challenge to lenders from […]

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Bank of Queensland raises nearly $90m in oversubscribed offer

Bank of Queensland has successfully raised nearly $90 million from its retail shareholders after completing an oversubscribed share placement plan. The completion of the retail offer means the bank has now raised $339.7 million from investors following a $250 million institutional placement earlier in December. The bank had been originally looking to raise $25 million from its retail investors. Bank […]

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Exclusive: U.S. digs deeper into Deutsche role in Danske money laundering scandal – sources

FRANKFURT/NEW YORK (Reuters) – The U.S. Department of Justice has in recent weeks stepped up its investigation into Deutsche Bank’s role in the 200 billion euro ($220 billion) Danske Bank money laundering scandal, four people familiar with the inquiry told Reuters. One source said the DoJ’s new line of inquiry is whether Deutsche (DBKGn.DE) helped move tainted money from Danske(DANSKE.CO), […]

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BOJ Kuroda: No talk at G20 of central banks issuing digital currencies

WASHINGTON (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Friday there was no talk among Group of 20 finance leaders on the possibility of central banks issuing digital currencies, as part of efforts to enhance cross-border settlement services. “There’s a need to make cross-border payments and settlement more efficient. But for now, it’s only about how to make […]

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Yes Bank files complaint against fake news on its financial health

The complaint has come against the backdrop of promoters cutting their stake and shares of the company witnessing heavy beating at stock exchanges during the last few days. Yes Bank on Sunday said it has lodged a complaint with Mumbai Police and Cyber Cell against some fake news and rumours about the bank’s financial health on social media. The complaint […]

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German authorities raid Deutsche Bank in relation to Danske Bank

FRANKFURT (Reuters) – German authorities have been in the process of seeking information at Deutsche Bank’s (DBKGn.DE) Frankfurt headquarters since Tuesday in relation to Danske Bank (DANSKE.CO) and a money laundering scandal, Frankfurt prosecutors said on Wednesday. They are investigating whether Deutsche alerted authorities about suspicious transactions quickly enough, the prosecutors said. The search, which is still ongoing, involves three […]

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Brokerage Charles Schwab says to cut about 600 jobs

(Reuters) – Discount brokerage company Charles Schwab Corp (SCHW.N) is cutting about 600 jobs after an internal review, a company spokeswoman confirmed on Tuesday. “Impacted positions span all staffing grades, as well as organizations and locations across the company,” the spokeswoman said in an emailed statement. The Wall Street Journal reported on Tuesday that the company planned to eliminate nearly […]

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