Citigroup, the giant U.S. bank, is expected to report first-quarter earnings roughly equivalent to those from a year earlier, even after rival JPMorgan Chase posted a 5% increase. Citigroup CEO Michael Corbat, who this week announced major changes in his senior leadership team, is expected to provide commentary on how the bank is faring amid a slowdown in global economic growth.
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.
The number of U.S. job openings falls in February to an 11-month low of 7.1 million, the Labor Department says, in a sign of just how drastically businesses slowed hiring in the wake of December's stock-market swoon and the 35-day federal-government shutdown, the longest in American history.
Standard Chartered, a big U.K. lender, will include a $190 million charge in first-quarter results to pay for the settlements, on top of a $900 million reserve recorded in the fourth quarter of 2018.
More than $200 billion of investment-grade bonds could fall into the $1.2 trillion junk-grade category during the next economic downturn, Fitch Ratings estimates in a new report, adding to a growing chorus of regulators and Wall Street analysts warning of the risk.
What I would rather invest in to get similar yields.
Brexit is not the only big issue getting kicked down the road lately.
JPMorgan CEO Jamie Dimon says he doesn't currently expect the U.S. economy to tip into recession, but the risks are growing from 'bad policy,' and he lamented the loss of certainty in American global leadership. Spoiler alert: He didn't mention President Donald Trump.
Activity in the U.S. manufacturing sector increased faster than expected last month, a new report shows, as the economy continues to give off mixed data signals.
The retirement of Wells Fargo chief executive Tim Sloan could help give the scandal-plagued bank a clean slate after sanctions from regulators, attacks from lawmakers and growing shareholder dismay.