Corporate governance

UBS Group doesn't plan to make the large-scale job cuts seen at global peers as the business of making investments for wealthy clients continues to see robust growth, Chief Executive Ralph Hamers said.

JPMorgan Chase, Wells Fargo and the Bank of New York Mellon all announced plans to restart or increase their buybacks this year after a sharp drop-off in 2022. Bank of America's CEO also said the company is "back in the game."

The New York bank, which recorded an 8% increase in expenses last year, projects that they will rise by 5% in 2023. Other megabanks are also contending with higher costs.

AmeriServ Financial in Johnstown boosted earnings through the first nine months of 2022, but not enough to satisfy Abbott Cooper, who called the company a "prolonged underperformer."

After weaker-than-expected earnings in the third quarter of 2022, several large banks halted share repurchases in a bid to build capital.

Credit Suisse Group is considering cutting the bonus pool for 2022 by about half, according to people familiar with the matter, capping a grim year in which the bank was forced to raise $4 billion after a string of losses.

The U.S.-based cryptocurrency exchange Coinbase Global is closing the bulk of its operations in Japan as part of a move to adjust international investment amid a slump in the digital-asset sector.

As customers increasingly do their banking via smartphone apps and online, Santander and Argentine rivals including BBVA Argentina, Grupo Financiero Galicia and Grupo Supervielle, like their global peers, are pushing to close physical locations. But regulators won't let them.

Goldman Sachs is embarking on one of its biggest rounds of job cuts ever as it locks in on a plan to eliminate about 3,200 positions this week, with the bank's leadership going deeper than rivals to shed jobs.

The accident killed the plane's pilot, Utah businessman Nathan Ricks. The Seattle company has named an interim chief while Beardall recovers after surgery.