Stephen Schwarzman, founder and CEO of the giant U.S. private-equity firm Blackstone, was already one of the world's richest men. But after an announcement that the partnership will convert to a stock corporation sparked the biggest one-day rally in its publicly traded units, Schwarzman is immediately $573 million richer on paper.
JPMorgan Chase says Chief Financial Officer Marianne Lake will step down to become head of the bank's consumer-lending operations, while Jennifer Piepszak, the company's head of card services, will be finance chief.
Bank of New York Mellon's earnings drop on weaker revenue from interest income and investment management-related activities; shares plunge.
Citigroup produced the best trading results during the first quarter, with the least-bad performance during a period marred by lackluster client activity, the prolonged U.S. government shutdown and nagging uncertainties about the trajectory of the global economy. The 2018 leader, Goldman Sachs, slipped to last place.
U.S. Bancorp reports first-quarter earnings that match analysts' expectations, though revenue comes in slightly below forecasts.
Jim Cramer weighs in on bank earnings and what they mean after a slew of bank earnings, including Bank of America's earnings.
Bank of America says that lending income would grow just 3% this year, down from about 6% in 2018, as the economy slows and the Federal Reserve halts its three-year campaign to boost official U.S. interest rates.
Amazon and Wells Fargo are two distinctly different securities that hold the promise for attractive returns over the next 5 years.
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