We'll have more details from HSBC Wednesday on its latest cost-cutting program, but CEO Stuart Gulliver admitted Monday that it will take time for him to get his firm's cost / income ratio down to his 52% target (it's currently at 60.9%). Rather ominously, costs have been on the rise over at the investment bank.
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Group Chief Executive, Stuart Gulliver, commented Monday:
CNBC reports an interesting example of how things worked in the heady days before US property prices crashed.
As meetings go, Goldman Sachs' annual shareholder meeting Friday was a rather tame affair.
The Wall Street Journal's 'Heard on the Street' column reports that Citi CEO Vikram Pandit said that he visited a holy site in Jerusalem late last year, and he followed the other worshippers and wrote something on a piece of paper and deposited it on the 'holy' wall.
Here's some details on some stories about JPMorgan that are currently doing the rounds.
Hedge fund billionaire Raj Rajaratnam has clearly lost weight in the weeks his trial on insider trading charges has been up before a New York jury.
Sidney James Weinberg (October 12, 1891 – July 23, 1969) was a long-time leader of Goldman Sachs, nicknamed 'Mr. Wall Street' by The New York Times and a 'director's director' by Fortune magazine, because of the number of corporate boards he sat on.
Here's something sent in by one of our readers.
Britain’s manufacturers have had a good start to the year, with export orders back in positive territory and some firms reporting a pick-up in demand from European customers.
HSBC is to appoint its next chairman from outside its existing management team in a move that would represent a dramatic change to the way Britain’s biggest bank is run.
Billionaire investor Warren Buffett has admitted that “thumb-sucking” over selling his Tesco stake cost $444m (£287.6m), one of the biggest losses in his investment company’s history.