Citigroup Plans to Cut 20,000 Jobs

The cuts will amount to about 10% of the bank's workforce, excluding the Mexico business. 


 
Americans' Finances Defied the Skeptics, Bank Earnings Show

JPMorgan, Bank of America, Wells Fargo and Citigroup together earned $104 billion in 2023, up 11% from the year earlier. 


 
BlackRock to Buy Infrastructure Firm for $12.5 Billion

The acquisition of Global Infrastructure Partners, a private-equity firm focused on infrastructure, would be BlackRock's largest in 15 years. 


 
Banks Can't Count on Loans For Growth

As interest rates fall, growing loans is getting more important, but also trickier. 


 
Fed Posts Its Largest Annual Operating Loss

The central bank's deficit of $114.3 billion last year resulted from its efforts to stimulate the economy and then stamp out inflation. 


 
Bank of America's stock slides 2% as earnings almost halve from a year ago

Bank of America's revenue came up short of estimates on Friday, as it booked special charges and paid a $2.1 billion fee to the FDIC. 


 
Morgan Stanley Agrees to Pay $249 Million to Settle Block-Trading Probes

The settlement ends a long-running investigation of how the Wall Street firm sold large tranches of stock for sophisticated clients. 


 
Wells Fargo set aside a lot more money for potential loan losses, stock falls

Wells Fargo's stock dropped Friday, after the California-based bank set aside a lot more money for potential losses on loans, and reported fourth-quarter profit that rose just in line with forecasts. 


 
European Banks Brace for Testing Times After Peak in Interest Rates

European bank executives say the industry is likely to handle the shift with resilience, though analysts expect last year's big earnings boost will lose steam in 2024. 


 
Bitcoin ETFs Get Off to a Monster Start, Despite Resistance on Wall Street

Vanguard won't offer spot bitcoin funds on its platform, highlighting concerns about their suitability for individual investors.


(END) Dow Jones Newswires

01-12-24 1615ET