Bank of America gave CEO Brian Moynihan a 15% pay raise last year to $26.5 million, a new regulatory filing shows. His rival, JPMorgan Chase CEO Jamie Dimon, took home higher total pay last year with $31 million, but only got a 5% raise.
Securities are the tools of the trade in the investment world - and deserve closer consideration by investors.
In 2011, global markets were gripped by fears of rising losses at giant French banks like BNP Paribas. Now, a veteran analyst is warning it could happen again -- this time from losses on derivatives bets.
This is one report where the real driver will be what the company says and the tone they take when saying it.
Even after an abysmal 2018, 16 big U.S. money managers could see earnings per share in 2019 fall another 5% on average, Jefferies estimates.
Bank of America economists estimate that the 35-day-old partial U.S. government shutdown will shave 0.2 percentage points off first-quarter growth in gross domestic product.
Some Wall Street analysts are starting to warn that big banks like JPMorgan Chase might have to start paying higher rates on deposits to keep customers from defecting to smaller banks with better offers, or to online-only lenders that don't have to cover the costs of maintaining hundreds or thousands of branches.
JPMorgan Chase CEO Jamie Dimon says he doesn't worry about the ups and downs of financial markets. Yet the bank's trading business, Wall Street's biggest, has proved remarkably consistent -- and resilient.
Federal Reserve Bank of New York President John Williams, a key economic advisor to Fed Chairman Jerome Powell, said the economy is no longer benefiting from the early-2018 stimulants of tax cuts, low interest rates and buoyant financial markets.
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