Following the release of unexpectedly weak U.S. labor-market data, investors are signaling a shift toward more aggressive Federal Reserve easing. Concerns about cooling job growth have pushed the probability of a substantial rate cut into the spotlight, intensifying debate about… Read More ›
In a significant development a former CEO of Goldman Sachs, Lloyd Blankfein said, he believes the US economy is at risk of slipping into a recession, even as the U.S. Federal Reserve continues to tackle inflation by hiking interest rates. Blankfein… Read More ›
In a significant development, fears over the Federal Reserve’s aggressive moves to tame inflation might tip the economy into recession have pushed up costs to insure bonds of Goldman Sachs, Morgan Stanley and Citigroup, which have hit a two-year high. Following… Read More ›
Wall Street closed sharply lower on Monday with rising bond yields acting as a drag on the market’s growth stocks, ahead of the launch of crucial inflation data. All three major U.S. stock indexes ended deep in negative territory, with… Read More ›
2022 is set to be a turning point for US financial policy as the Biden Administration’s regulators ready a slew of regulations that are likely to increase the cost of compliance for Wall Street and corporate America. Biden’s top financial… Read More ›
With Afghanistan facing a severe cash crunch, migration crisis and mass starvation, the Taliban government is pressing for the release of billions of dollars from its central bank reserves. Afghanistan has parked billions of dollars in assets overseas with central… Read More ›
According to a paper presented at The Brookings Institution, racial and ethnic inequities have cost the U.S. economy nearly $51 trillion in lost output since 1990, said San Francisco Federal Reserve President Mary Daly. Daly is one of the three… Read More ›
In a statement ThoughtWorks Inc, a software consultancy company said, its parent Turing Holding Corp had confidentially submitted paperwork for an initial public offering in the US. In January, ThoughtWorks, which helps firms digitize their operations, was valued at $4.6… Read More ›
In what is likely to be Wells Fargo & Co’s biggest shake up since former Bank of New York Mellon chief executive Charles Scharf joined the bank as its CEO in 2019, sources familiar with the matter at hand have… Read More ›
In a report the Wall Street Journal said, federal regulators are preparing to impose a fine on Citigroup Inc for failing to improve its risk-management systems, With the news reaching the market, Citi’s shares fell by 3.3%. According to the… Read More ›
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