That's around $127,000 a day!
Deeper cuts needed over the coming months.
Morgan Stanley reported profit that beat analysts’ estimates as a surprise jump in fixed-income results helped the firm post the only increase in trading revenue among the six biggest U.S. firms this year.
Goldman Sachs, the Wall Street firm with the highest return on equity in 2013, reported earnings that topped analysts’ estimates as investment-banking revenue jumped to the highest level since the financial crisis.
Barclays will provide a Group Strategy Update on Thursday, 8 May 2014 for institutional investors and analysts.
Deutsche Bank is in talks with potential buyers of its Cosmopolitan resort in Las Vegas as it tries to end a six-year, money-losing venture into casino development, people with knowledge of the matter said.
Citigroup, which aspires 'to become the world's digital bank', will not webcast its annual meeting next week in St. Louis.
Even when he loses, the billionaire investor Steven A. Cohen manages to find a way to win.
U.S. banks including Goldman Sachs should be banned from owning commodities businesses because they could threaten the institutions and global supply chains, Senators Sherrod Brown and Elizabeth Warren told the Federal Reserve.
On a sliding scale of difficulty, writing a general-interest book about high-frequency trading is slightly harder than making baseball statistics interesting, but easier than animating the role played by quantitive analysis in the 2007 financial collapse.
A glut of oil, the demise of Opec and weakening global demand combined to make 2015 the year of crashing oil prices. The cost of crude fell to levels not seen for 11 years – and the decline may have further to go.
Chris Callahan, Credit Suisse’s head of trading for commercial mortgage bonds and collateralized loan obligations, left the bank at the end of last week, he said.
Investors who pulled an estimated $52.7bn from the Pimco Total Return Fund this year may feel like freeway drivers who changed lanes only to see themselves falling behind traffic.