finance

Trump slams U.S. intelligence chiefs as ‘passive and naive’ on Iran

October 23, 2020

WASHINGTON (Reuters) – President Donald Trump on Wednesday called U.S. intelligence chiefs “extremely passive and naive” on Iran and dismissed their assessments of the threat posed by North Korea a day after they contradicted his views during congressional testimony. His comments drew criticism from some of his fellow Republicans in Congress, some of whom have […]

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Exclusive: Morgan Stanley turns to stodgy bank accounts to boost profit

October 12, 2020

NEW YORK (Reuters) – Morgan Stanley, better known for underwriting bonds than for retail banking, plans to offer savings accounts and certificates of deposits next year to wring more profit from its wealth management clients, executives told Reuters. The bank has offered checking accounts and credit cards for years, but it is launching more consumer […]

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Goldman Sachs to promote junior bankers faster in bid to keep talent- Reuters

September 30, 2020

(Reuters) – Goldman Sachs Group Inc (GS.N) unveiled a series of changes designed to retain junior bankers, including promoting them more quickly and encouraging mobility within the firm. The changes come as Goldman and other banks have taken steps over the last several years to keep on junior employees, known as analysts and associates, in […]

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U.S. lawmakers request info from insulin makers on rising prices

September 16, 2020

WASHINGTON (Reuters) – Two powerful U.S. lawmakers sent letters to the three leading insulin manufacturers on Wednesday requesting information on why its cost has skyrocketed in recent years and how much the companies profit from the life-sustaining diabetes treatment. Democratic Representatives Frank Pallone and Diana DeGette, the chairman and a top-ranking member of the House […]

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UniCredit to shed 18,200 jobs and boost capital

September 11, 2020

MILAN (Reuters) – UniCredit (CRDI.MI) is slashing its workforce by 14 percent and looking to restructure or sell businesses in Austria and Italy as it seeks to bolster its finances without asking shareholders for cash. UniCredit, the latest major European bank to announce an overhaul to boost profits and increase capital, unveiled a new business […]

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Wells Fargo to pay $81.6 million to bankrupt U.S. homeowners: DOJ

August 25, 2020

(Reuters) – Wells Fargo & Co (WFC.N) will pay $81.6 million to homeowners for denying them a chance to challenge mortgage payment increases imposed during their bankruptcy proceedings, the U.S. Justice Department said on Thursday. Wells violated a 2011 U.S. bankruptcy law by failing to send a type of legal notice about homeowners’ mortgage payment […]

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U.S. charges three in huge cyberfraud targeting JPMorgan, others

August 23, 2020

NEW YORK (Reuters) – U.S. prosecutors on Tuesday unveiled criminal charges against three men accused of running a sprawling computer hacking and fraud scheme that included a huge attack against JPMorgan Chase & Co and generated hundreds of millions of dollars of illegal profit. Gery Shalon, Joshua Samuel Aaron and Ziv Orenstein, all from Israel, […]

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U.S. lawmakers again seek to end U.S. support for Saudis in Yemen

August 13, 2020

WASHINGTON (Reuters) – Republican and Democratic U.S. lawmakers will try again to pass a resolution ending U.S. support for the Saudi-led coalition in Yemen, with a greater chance of success than when a similar measure passed the Senate last month. Republican Senator Mike Lee, Democratic Senator Chris Murphy and Independent Senator Bernie Sanders, who caucuses […]

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Ex-Rabobank traders seek vindication as U.S. Libor trial closes

August 2, 2020

NEW YORK (Reuters) – Lawyers for two former Rabobank [RABO.UL] traders urged jurors on Tuesday to reject U.S. charges that they schemed to manipulate Libor interest rates, arguing the prosecution’s case relied on out-of-context emails, instant messages and data. The arguments came during the trial in federal court in Manhattan of Anthony Allen, 44, and […]

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Senator Cory Booker launches bid for 2020 presidential nomination

July 30, 2020

WASHINGTON (Reuters) – U.S. Senator Cory Booker, who gained national prominence in the fight over Supreme Court Justice Brett Kavanaugh, announced on Friday that he would seek the Democratic Party’s nomination for the 2020 presidential election, injecting more youthful energy into the expanding Democratic field. Booker, 49, became the latest Democrat and the fourth U.S. […]

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