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Can Britain's power lunch power back this summer?

May 24, 2021
The City of London, the U.K. equivalent of Wall Street, is preparing for tens of thousands of executives to filter back in.
Workers line up for a restaurant in the City of London after lockdown rules  eased, and with many companies welcoming limited numbers of their staff back to the office
Dan Kitwood/Getty Images

Big banks' profits are doing better than the economy

Jan 15, 2021
They've been raking in money thanks to the strong stock market, companies' appetite for debt and initial public offerings.
Spencer Platt/Getty Images

More optimistic about the recovery, big banks trim the reserves they set aside to cover bad loans

Oct 14, 2020
But if we're in for a double-dip recession, they'll need to set aside billions more than they currently have on hand.
Big banks, like JPMorgan Chase, are feeling more confident about the economic recovery after solid third quarter earnings.
Spencer Platt/Getty Images

Why big banks are reporting better-than-expected earnings during the pandemic downturn

Oct 14, 2020
Quarterly earnings for big banks like Citigroup and JPMorgan Chase are beating expectations thanks to a soaring stock market.
Citigroup's net income of $3.2 billion, or $1.40 per share, topped analyst expectations for the third quarter.
Justin Sullivan/Getty Images

Banks set aside billions, expecting big consumer loan defaults

Jul 15, 2020
At the end of the first quarter of this year, U.S. consumers were a record $14.3 trillion in debt.
A view of the "Fearless Girl" statue on Wall Street. Americans' indebtedness is affecting banks' balance sheets.
Johannes Eisele/AFP via Getty Images

SBA temporarily shuts out big banks and businesses from Paycheck Protection Program

For eight hours, only smaller banks were able to process applications.
How can regulators make sure small businesses are the ones getting this money?
Cindy Ord/Getty Images

House subcommittee scrutinizes diversity at biggest banks

Feb 12, 2020
Reforms after the financial crisis haven't brought dramatic change.
Has Wall Street really become more diverse since the 2008 recession?
Spencer Platt/Getty Images

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Bank CEOs ask Congress to loosen capital requirements

Apr 11, 2019
For the first time since the financial crisis, the CEOs of the largest US banks testified to the House Financial Services Committee. James Gorman of Morgan Stanley, Jamie Dimon of JPMorgan Chase and Bank of America’s Brian Moynihan asked Congress to lower the high capital requirements. They say the rules, put in after the financial crisis, […]
CEO of Citigroup, Michael Corbat (L), chairman and chief executive of JPMorgan Chase, Jamie Dimon (2ndL) and others are sworn in to testify before the House Financial Services Committee on accountability for mega banks on Capitol Hill in Washington, DC on April 10, 2019.
Mandel Ngan/AFP/Getty Images

As relaxed regulations spur credit union memberships, banks cry foul

Apr 3, 2019
The two sides will meet soon in federal appeals court.
At the Move Your Money March in the downtown Los Angeles financial district in 2011, Occupy movement members called for people to move their money from banks to credit unions.
David McNew/Getty Images

Lloyd Blankfein changed Goldman Sachs. Will David Solomon keep it up?

Jul 17, 2018
Goldman Sachs reported quarterly profits today, beating analyst expectations. As is often the case on Wall Street, the ups were no match for the downs — like heavy legal expenses and weak trading results. But the big news for the bank was that a successor has been named to replace storied Goldman CEO, Lloyd Blankfein, who […]