Zurich Central Station MacKenzie Sigalos DAVOS, Switzerland — It took 18 hours, a Lyft, two planes, three cross-country train rides and a ride in a Volvo sport utility vehicle to get from downtown Manhattan to an apartment on Scalettastrasse, a snow-covered street in the heart. from Davos. The small Swiss Alpine town is once again … Read more
Citigroup CEO Jane Fraser testifies during a hearing before the House Financial Services Committee at the Rayburn House office building on Capitol Hill on September 21, 2022 in Washington, DC. Alex Wong | Getty Images Citigroup said it was cutting 10% of its workforce in a bid to help boost the embattled bank’s results and … Read more
The U.S. Securities and Exchange Commission has pushed for bitcoin exchange-traded funds to be fundamentally different from large equity funds, and the impact of that decision on how the funds will be traded remains to be seen. Bitcoin funds, which launched on Thursday, use a share buyback process that turns the underlying crypto into cash. … Read more
Wholesale prices unexpectedly fell in December, providing a positive signal for inflation, the Labor Department said on Friday. The producer price index fell 0.1% for the month and was up 1% at the end of 2023 from a year ago, the Labor Department said on Friday. Economists polled by Dow Jones had expected a monthly … Read more
Wells Fargo shares fell on Friday even after fourth-quarter profit rose from last year, as the bank warned that net interest income for 2024 could be significantly lower year-on-year. Here’s what the bank reported versus what Wall Street expected, based on a survey of analysts at LSEG, formerly known as Refinitiv: · Revenue: $20.48 billion … Read more
Delta Air Lines closed the year by doubling its quarterly profit as demand for travel, especially international travel, helped drive record revenue in 2023. CEO Ed Bastian said continued strong travel demand could boost earnings this year. Still, the company cut its full-year profit outlook from a previous forecast, and shares fell 9% on Friday, … Read more
Jane Fraser CEO, Citi, speaks at the Milken Institute 2023 Global Conference in Beverly Hills, California, on May 1, 2023. Mike Blake | Reuters Citigroup warned investors late Wednesday that the charges associated with the drop in the Argentine peso as well as the bank’s reorganization were much higher than the company’s chief financial officer … Read more
A view of the city from the Azabudai Hills Mori JP Tower in the Minato district of Tokyo, Japan on November 24, 2023. Ahmet Furkan | Anadolu | Getty Images Asia-Pacific markets rose across the board, with Japan significantly extending its record rally ahead of US inflation data for December. Country benchmark Nikkei 225 it … Read more
The U.S. Securities and Exchange Commission on Wednesday approved rule changes that will allow the creation of bitcoin exchange-traded funds in the U.S., a long-awaited move that will give investors regular access to the controversial and volatile cryptocurrency. The decision is likely to lead to the conversion of Grayscale Bitcoin Trust, which holds about $29 … Read more
Club names Alphabet, Meta Platforms and Amazon are best positioned to dominate the online advertising landscape this year, according to a new Wall Street survey. The results confirm our bullish stance on these three Big Tech giants. Based on responses from the latest survey of US ad buyers, analysts at TD Cowen said on Tuesday … Read more