Category: News

Barclays (BARC.L) said on Monday that CEO Jes Staley will step down following British authorities’ probes into his contacts with convicted sex offender Jeffrey Epstein. It stated that C.S. Venkatakrishnan (known as Venkat), the company’s head of worldwide markets, will take over as CEO with immediate effect, subject to regulatory approval. The preliminary findings of…

According to sources familiar with the subject, Goldman Sachs Group Inc (GS.N) has launched a new product that allows investors to wager on special purpose acquisition companies (SPACs), which is the firm’s latest attempt to cash in on the deal making boom. As per the sources, the asset is organized as a two-year bond that…

BNP Paribas (BNPP.PA), France’s largest publicly traded banker, reported a higher-than-expected third-quarter profit on Friday, thanks to lower provisions for pandemic-related credit losses and a strong increase in equities trading. BNP Paribas, like its American and European competitors, benefited from the economic recovery by releasing capital set aside for pandemic losses. BNP Paribas reported a…

On reporting better-than-expected quarterly earnings in CEO Charlie Nunn’s first set of profits at the bellwether bank, Lloyds Banking Group (LLOY.L) upgraded its outlook. Pre-tax earnings increased to £2 billion from £1 billion in the same quarter the previous year, above analysts’ estimates by more than 50%, thanks to strong demand for mortgages and lower-than-expected…

On Wednesday, Deutsche Bank announced a drop in revenue in its investment banking unit but nevertheless managed to outperform forecasts and earn its fifth consecutive quarter of profit. Deutsche Bank’s net profit increased in the third quarter as fewer bad-loan charges helped offset a drop in investment banking revenue and higher costs for its turnaround.…