China Central Bank Keeps Key Policy Rates Unchanged

China's central bank on Monday kept its key policy rates unchanged in an unexpected hold. 


 
Goldman Sachs Goes Big on Lending to the Wealthy

The Wall Street giant, having given up on Main Street consumers, now wants to increase loans to hedge funds, private equity and the ultrarich. 


 
The Last Man Standing in Crypto

Brian Armstrong has continued expanding Coinbase Global despite the industry slowdown and a long string of unprofitable quarters. 


 
Citigroup Plans to Cut 20,000 Jobs

The reductions will amount to about 10% of the bank's workforce, excluding a Mexico business, marking the next phase of its most dramatic restructuring plan in decades. 


 
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 a 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 1% 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.


(END) Dow Jones Newswires

01-15-24 0715ET