George Yacik

The bank plans to hire about 200 more people and reduce hours to help reduce stress on junior analysts; the Swiss bank was exposed to as much as $20 billion to failed Archegos fund.

Mitsubishi UFJ Financial Group and Standard Chartered are among the likely bidders; less than 7% of the bank’s U.S. workforce are Black, and a little more than 3% are senior executives.

European fans are angry that the U.S. bank is financing a new “Super League” of elite teams; Ameribor hopes to compete with the Fed’s Secured Overnight Financing Rate.

The bank plans to hire more than 2,000 bankers and support staff as part of its wealth push; CEO Quinn is abolishing the bank’s executive floor in London, where honchos will share desks.

The bank will instead concentrate on wealth management in Europe, Asia and the Middle East; cash-heavy consumers are unlikely to default but also less likely to want new loans.

The profit surge was fueled by strong trading and investment banking results; the crypto exchange’s public offering could serve to validate digital currencies.

JPMorgan Chase reports first-quarter results; proposed corporate tax hike could boost infrastructure and other tax-advantaged lending.

The move is the latest by the Swiss bank following $4.7 billion of losses in the Archegos debacle; bitcoin ETFs move forward, but HSBC bans trading in firm linked to digital currencies.

Thomas Gottstein’s one-year tenure has been marked by multiple costly scandals; the company’s valuation and profitability have jumped as bitcoin’s price has surged, but are those levels sustainable?

The big Japanese investor is buying $500 million of the mortgage lender’s stock; Revolut will allow each of its 2,000 employees to work abroad for up to two months a year.

Dimon says “nearly all” of the bank’s 250,000 employees will return after the pandemic; Instacart has chosen Chase to issue its card, while DoorDash has received offers from 10 banks.

The Crypto Council for Innovation wants a voice in how bitcoin is regulated; the #GetBanked public awareness campaign aims to help people without accounts get stimulus checks faster.

The proposal would extend the freeze another six months, until 2022; the digital yuan will give the government greater control over the economy and its people and could threaten the dollar.

Prices keep rising as inventory shrinks, competition grows, and credit availability tightens; analysis and interviews find Black businesses lacked access to lenders and failed to qualify for loans.

Treasury secretary says more needs to be done to address vulnerabilities in the financial system; the researchers are expected to make their first progress report in the third quarter.

The Treasury Secretary is reviving the Financial Stability Oversight Council, leading her first meeting Wednesday; the bank cited the availability of Covid-19 vaccines for its decision.

The fallout may go beyond large losses at Nomura and Credit Suisse from Archegos Capital; the bank’s CEO is getting five more years as the stock rebounds following a massive restructuring.

Stock repurchases could triple in the second half, assuming banks pass their stress tests; markets around the world are booming, but regulators are reluctant to raise interest rates to cool them off.

The move is a vote of confidence in the banking industry and the economy at large; borrowers would have until May 31 to apply for a loan.

The cap on Economic Injury Disaster Loans is being raised to $500,000 from $150,000; the electric car maker said it won’t convert the digital currency to fiat dollars but will retain them.