Banking
JP Morgan laid off another 500 tech, ops workers this week: report
JP Morgan Chase & Co. JPM laid off about 500 workers this week, mostly in tech and operations, according to a report Friday. CNBC reported the cuts...
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Cummins spinoff Atmus Filtration’s stock soars 14% in trading debut
Atmus makes products for commercial vehicles and agriculture, construction, mining and power-generation vehicles and equipment.
Lazard elevates financial advisory head to CEO
Lazard Ltd. LAZ on Friday named insider Peter R. Orszag as its next chief executive officer as of Oct. 1, when Kenneth M. Jacobs becomes executive chairman after working as CEO for 14 years. Orszag is now CEO of financial ...
Oppenheimer upgrades alternatives firm Hamilton Lane to outperform from perform on valuation
Oppenheimer analyst Chris Kotowski on Friday upgraded stock in alternative investment and data firm Hamilton Lane Inc. HLNE to outperform from perform, with a 12-18 month price target of $87 a share. Kotowski said Hamilto...
Ex-CEO of Silicon Valley Bank not off the hook for stock sales ahead of bank collapse, law professor says
Albany Law School Professor Christine Sgarlata Chung sees unanswered questions that regulators may pursue in Greg Becker's stock sales.
JPMorgan lays off about 1,000 former First Republic employees
The bank said about 85% of the former First Republic's roughly 7,200 employees received full-time or transitional roles with JPMorgan.
JPMorgan alleges ex-U.S. Virgin Islands first lady helped Jeffrey Epstein spread money and influence
JPMorgan alleges that former U.S. Virgin Islands first lady was 'primary conduit' for influence and money for deceased convicted pedophile Jeffrey Epstein.
Nvidia’s 24% jump Thursday lit an AI fire that carried these 19 stocks to gains of as much as 17%
Nvidia's forecast of a 50% increase in sales caused euphoria as investors looked to jump aboard the artificial-intelligence bandwagon.
NYC banking commission votes to halt city deposits at Capital One, KeyBank
New York City’s banking commission voted to freeze deposits at Capital One Financial Corp. COF and KeyCorp’s KEY KeyBank after the two banks failed to submit required plans showing their efforts to halt discrimination, the...
Toronto-Dominion Bank stock dips on earnings growth warning
Toronto-Dominion Bank stock TDCA:TD is down 1.5% in premarket trading on Thursday after the Canadian bank with a sizeable U.S. presence said it does not expect to meet its medium-term adjusted earnings per share growth tar...
Judge greenlights JPMorgan lawsuit blaming former exec in Epstein scandal
Jes Staley's lawyers say he had no decision-making authority over Epstein's accounts and was not alleged to have seen any of the suspicious account activity that other JPMorgan employees ignored.
Shaquille O’Neal can’t shake the process servers this time: 2 complaints over FTX ads finally in basketball star’s hands, lawyers say
This isn’t the first time that the lawyers claim to have served O’Neal with the FTX lawsuit.
Breaking Stocks end lower, Dow books 4-day skid as a debt-ceiling deadline looms
U.S. stocks finished lower on Wednesday, with the Dow posting a four-session skid, as the White House and House Republicans continued debt-ceiling talks ahead of a fast-approaching deadline. The Dow Jones Industrial Averag...
Citi to pursue IPO of Banamex business, resume ‘modest level’ of stock repurchases
Citigroup said Wednesday it will pursue an IPO of its "Banamex" consumer, small business and middle-market banking operations in Mexico.
First Citizens cuts nearly 500 Silicon Valley Bank staff: Axios
First Citizens Bancshares Inc. FCNCA laid off nearly 500 former Silicon Valley Bank staff on Wednesday, Axios reported, with most in the failed bank’s commercial banking segment. The move was made after First Citizens Bank...
PacWest sells its real-estate lending business to Roc360
PacWest Bancorp will sell its real-estate lending arm to Roc360, as the beleaguered regional bank moves to refocus on its core business.
Mastercard rolls out its first inclusive credit card for visually impaired consumers in the U.S.
Mastercard Inc. will roll out its first U.S. credit card for visually impaired consumers, done in partnership with Citizens Financial Group.
JPMorgan defends itself by blaming U.S. Virgin Islands for Jeffrey Epstein’s sex crimes
Lawyers for the bank said in the Manhattan federal court filing that the government of the Virgin Islands was complicit, letting high ranking officials be bought off by Epstein and actively working with him while “reaping...
Lowe’s, PacWest, Yelp stocks rally while BJ’s and Zoom Video shares fall, and other stocks on the move
Yelp, Guardant Health and PacWest Bancorp are some of the biggest movers on Tuesday.
PacWest’s stock soars again as part of a broad regional-bank rally
PacWest Bancorp's stock shot up toward a three-week high Tuesday, part of a broader rally for the regional bank sector.
JPMorgan Chase takes big plunge into climate-focused carbon removal: report
JPMorgan, dinged by climate groups for investing in fossil fuels, will spend $200 million to purchase carbon credits, according to The Wall Street Journal.
