Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Financial Shares Sink Amid Inflation Data -- Financials Roundup

09/14/2021 | 05:26pm EDT

Shares of banks and lenders tumbled as fresh data showed inflation climbed at a slower pace than economists expected in August.

Investors have been closely following inflation data for signs of whether the Federal Reserve might begin to scale back its easy-money policies. Tuesday's inflation reading appeared unlikely to change the Fed's plans. Many Fed officials have said in recent public statements that the central bank could begin reducing, or tapering, its monthly purchases of bonds by the end of this year if the economy performs as they anticipate.

In personnel news, Goldman Sachs Group Chief Financial Officer Stephen Scherr is retiring from the Wall Street powerhouse. Mr. Scherr, 57 years old, led the firm's years long push into Main Street banking before being named CFO in 2018. He will be succeeded at the end of the year by Denis Coleman, a leveraged-finance banker who has spent 25 years at the firm.

JPMorgan Chase is hiring two executives to revamp its online investing product, which has lagged behind rival internet brokerages during a boom in individual investing. The bank is bringing aboard executives who helped build investing platforms at rivals Bank of America and Goldman Sachs to take over its online wealth management and brokerage services, according to a memo reviewed by The Wall Street Journal.

China Evergrande Group moved closer to a potential restructuring of its $89 billion debt burden by hiring outside advisers, while the property developer's financial problems spilled over into angry protests at several of its offices.

 Write to Amy Pessetto at amy.pessetto@dowjones.com 

(END) Dow Jones Newswires

09-14-21 1725ET

Latest news "Economy & Forex"
01:12pBluebell capital says views gsk vaccine franchise as generally undervalued by market - letter
RE
01:06pBLUEBELL CAPITAL : Asks gsk to take a proactive approach to consider available alternative transactions to demerger of consumer healthcare
RE
01:05pExplainer-Why record high British natgas prices caused a crisis over CO2 supplies
RE
01:04pEpic CEO says Apple bars "Fortnite" until all court appeals end
RE
01:04pBLUEBELL CAPITAL : Asks gsk to launch immediately afterwards thorough, robust process to identify best(internal or external) candidate to lead new gsk
RE
01:03pBLUEBELL CAPITAL : Ask gsk board to accelerate further appointments to gsk board with objective to increase biopharmaceuticals, scientific experience
RE
01:03pExxon, Chevron not disclosing payments to some governments -transparency group
RE
01:03pActivist investor Bluebell takes stake in GSK
RE
01:02pBluebell capital says believes gsk should address in the short term, the leadership for ônew gskö
RE
01:01pBluebell capital sends letter to chairman of gsk
RE
Latest news "Economy & Forex"