The election of Donald Trump as President of the United States could lead to chaos in markets and increased policy uncertainty that tip the world into recession, according to Citigroup.
The sun shone.
"Monetary policy is thwarting goals to strengthen the economy and to make banks safer by now," John Cryan says.
The US has been accused of “behaving like a tax haven”, in an escalating war of words between Washington and Brussels over the European commission’s anti-trust cases against Apple, Amazon and Starbucks.
If you're not succeeding, it may just be that you're not failing enough.
American banks spent the second quarter crying all the way to the, well, bank.
If money talks, then one of the things it has been saying this summer is that investors are no longer interested in hedge funds. Investors withdrew $25.2bn from hedge funds in July, according to eVestments. This is the largest monthly redemption since February 2009, when investors redeemed $28.2bn.
Goldman Sachs told state regulators it plans to cut 15 jobs in New York before the end of this year.
Global Investment Banking Fees Total US$60.9 billion; Slowest First Nine Months for IB Fees since 2012; Americas Declines 19%
Standard Chartered has stepped up its hiring from Barclays’ private-banking team in Hong Kong ahead of the transfer of the business to Oversea-Chinese Banking Corp, in a move that underscores the stiff competition for wealth managers in Asia.