JPMorgan Chase & Co.’s net interest income was the hot topic of its third-quarter results, much to the irritation of Chief Executive Officer Jamie Dimon, who grew impatient with quibbling over details of the bank’s outlook on its earnings call on Friday.
Britain’s stock-investing culture has been withering for years, with the only real growth coming from consultants, policymakers and commentators generating ideas on how to revive it. So why is Robinhood Markets Inc. so keen to expand in the UK? The draw may be more the country’s enthusiasm for online betting than allocating savings to equities.
It might not be time to really get nervous about US money markets, but it’s definitely time to pay more attention. Signs of strain emerged as September turned into October this week — it wasn’t completely wild, but the tensions were the worst since early 2020.
Gary Gensler, chief US securities regulator, enlisted Scarlett Johansson and Joaquin Phoenix’s movie “Her” last week to help explain his worries about the risks of artificial intelligence in finance. Money managers and banks are rushing to adopt a handful of generative AI tools and the failure of one of them could cause mayhem, just like the AI companion played by Johansson left Phoenix’s character and many others heartbroken.
Banks and shadow banks are meant to exist in separate worlds, but the financial links between them are increasingly seen as a source of potential instability. That’s a problem for banks because the business of forging those ties has lately been among the hottest activities on Wall Street.
Jane Street Group LLC and Citadel Securities are on a tear. First-half revenue at the two predominantly electronic market makers grew about 80% compared with the first six months of 2023, according to Bloomberg News. That’s enough to make traditional Wall Street executives green with envy — but these upstarts aren’t going to completely devour the old guards’ lunch.
Call me Ishmael. The biggest question about an investment banking client like Elon Musk is whether he turns out to be a Moby Dick.
Since Silicon Valley Bank became the second-biggest failure in US history a year ago, other lenders have been trying to take its place in banking the fast-moving, entrepreneurial world of startups and tech companies.
When the Federal Reserve flooded the economy with cash during the Covid-19 pandemic it exacerbated a problem for America’s largest banks: What to do with all the extra deposits.
Big banks are scrambling to work out what to do with generative artificial intelligence: how to use it to make some of their people smarter or free up others to do only higher-value tasks, and how to ingest and process data more rapidly, speed up decision making and cut costs. Every bank fears their competitors getting good at AI before they do.
Two knockout stock-market debuts by tech companies last week will boost confidence among others waiting for their chance to go public – and lift the hopes of investors in venture capital funds who’ve endured meager returns in the past couple of years.
The failures of Silicon Valley Bank, Credit Suisse Group AG and others have gotten financial authorities thinking again about bank runs and liquidity regulations — and whether some rules ought to be tweaked to make the system safer.
Silicon Valley Bank suffered probably the quickest bank run in history and the fastest bailout of depositors, too. The lender to the venture capital industry had operated under lighter rules and fewer restrictions than larger banks after a successful lobbying effort back in 2018.
Stubborn inflation means more interest-rate increases are coming from the Federal Reserve and that sounds like great news for banks.
The health of borrowers is the key concern for all of finance in the coming year.
The $24 trillion US Treasury market has gotten too big for even the “Masters of the Universe.” As the Federal Reserve reverses its bond purchase program and more government securities flood back into the hands of dealers, banks, investors and traders, the chances of extreme, unhealthy volatility are rising.
If everyone feels so miserable, why do they seem to be out having a good time?
Everyone is stressing about consumer debt. Investors have been dropping the shares of big banks, credit-card specialists and younger fintechs because of fears about the pain that rising living costs and interest rates will inflict on borrowers.
It’s easy to be carried away: Top banking regulators are hungry for the efficiency, profitability and better service that pan-European banks could deliver.
Online brokers like Robinhood Markets Inc. and crypto assets might get the headlines, but the Securities and Exchange Commission’s parallel effort to drag private-equity firms and hedge funds out of the shadows will have far more impact on far more lives.
Stand on the steps of The Royal Exchange in the heart of the City of London and you can picture the churn of people 200 years ago or more in what was becoming the world’s preeminent financial hub.
There are so many things to do these days other than be a hard-charging investment banker or trader: Even Goldman Sachs Group Inc. has to offer more than just a ladder to riches to keep its people on board.
People can be just the worst borrowers, failing to pay what they owe especially if defaulting doesn’t cost them their house or their car. That’s why credit cards charge eye-watering interest rates and late fees.
