By Tony Owusu
Microsoft's Bill Gates, billionaire investor Leon Cooperman and others have responded to Elizabeth Warren's views on how much wealth is enough.
11/07/19 - 02:04 PM EST
Some traders have speculated that China might liquidate its $1.1 trillion of U.S. Treasury bonds as a way of striking back against President Donald Trump's tariffs on imports from the country. But such a scenario might hide the real urgency: The Chinese government might need the cash, according to the wealth manager deVere Group.
05/21/19 - 08:00 AM EDT
Companies in the S&P 500 bought back a record $806 billion of their own shares last year. But the tactic - used by CEOs to juice their stock prices - may become less common as more companies confront the need to pay down debt, Bank of America analysts warn in a new note.
04/22/19 - 12:40 PM EDT
Citigroup's network of 689 bank branches in the U.S. and Canada looks paltry compared with JPMorgan Chase's 5,000-plus web and Bank of America's 4,353 locations. So the bank is using its online bank to lure new customers - with juicy yields on savings accounts.
04/22/19 - 11:00 AM EDT
As a growing body of research shows that gender diversity on a company's board of directors usually improves long-term shareholder returns, Stephen Schwarzman's Blackstone Group has added former U.S. Senator Kelly Ayotte of New Hampshire as a director. The appointment would double the number of female directors to two out of 11 total board members, or 18%.
04/11/19 - 12:35 PM EDT
U.S. Representative Nydia Velazquez, a New York Democrat, asks Citigroup CEO Michael Corbat at a hearing in Washington what it was like to get paid more than 400 times his employees' median pay. Corbat's response was that he hoped employees might see opportunities to get promoted.
04/10/19 - 01:15 PM EDT
The expansion by Bank of America, the second-biggest U.S. lender, in Ohio aims squarely at territory that's currently dominated by large regional banks like Fifth Third, Huntington and Key.
04/08/19 - 11:25 AM EDT
Tickers in this article: JPM
JPMorgan Chase, the biggest U.S. bank, is eliminating hundreds of workers after an annual review of staffing levels in its asset- and wealth-management division.
03/28/19 - 11:10 AM EDT
DepositAccounts.com, which tracks the savings industry, says in a new report that banks are increasing early withdrawal penalties on certificates of deposit, making it harder for savers to exit and reinvest in higher-paying products as interest rates rise.
03/27/19 - 01:57 PM EDT
Tickers in this article: WFC
Wells Fargo CEO Tim Sloan appeared Tuesday before the U.S. House of Representatives' Financial Services Committee for the first time since Democrats, who are typically more critical of big banks than Republicans, took control of the chamber in last November's elections. The panel's leader, Congresswoman Maxine Waters of Southern California, scolded Sloan, but so did Republicans on the committee.
03/12/19 - 10:55 AM EDT
Tickers in this article: WFC
Wells Fargo CEO Tim Sloan is scheduled to appear Tuesday before the U.S. House of Representatives' Financial Services Committee for the first time since Democrats, who are typically more critical of big banks than Republicans, took control of the chamber in last November's elections. The panel is led by Congresswoman Maxine Waters of Southern California, where some of Wells Fargo's recent scandals originated.
03/12/19 - 06:45 AM EDT
Blackstone CEO Stephen Schwarzman, who sets his own pay, got a 45% cut in total compensation last year to $69.1 million. But compared with JPMorgan Chase CEO Jamie Dimon, considered by most investors to be the reigning dean of Wall Street, Schwarzman still looks vastly overpaid.
03/04/19 - 11:30 AM EST
Dramatic showdown or appeal for unity? Trump seeks to 'heal old wounds, build new coalitions.'
02/05/19 - 10:38 PM EST