Expense management

Credit Suisse Group reported its fourth straight loss as its investment bank continued to struggle, wealthy clients fled and the lender booked a charge related to a critical overhaul that's been in the making for months.

CEO Rob Holmes says that much of the Dallas company's increased spending is now in the past. But meeting the bank's targets is "a complete show-me story," one analyst said.

Deutsche Bank laid off dozens of origination and advisory staffers within its investment banking division globally as fears of a recession stymie dealmaking, according to a person with knowledge with the matter.

The San Francisco bank tallied $2.2 billion in net operating losses, higher than in any quarter since late 2017. The charges offset what otherwise would have been a strong third-quarter performance.

Some online banks are offering the highest rate on savings accounts only to new customers. The strategy could suppress deposit costs at a time when the Federal Reserve's aggressive rate increases have begun to put pressure on expenses.

Klarna Bank, months after announcing major job cuts and taking a $39 billion hit to its valuation, is planning to restructure parts of its business further to suit a slower-growing, smaller operation, people familiar with the matter said. 

Goldman Sachs Group is reconsidering how to launch a long-delayed product for the masses as senior executives wrestle with cost overruns.

Conversations with about a dozen Credit Suisse dealmakers, traders, financiers and wealth advisors depict a unit girded for a reckoning.

A warning for investment bankers who enjoyed lavish bonuses for 2021, when banks opened their wallets to reward busy dealmakers amid a war for talent: Don't expect a repeat this year.

Robinhood Markets cut almost a quarter of its workforce in a broad reorganization after a punishing first year as a public company.