News

Big banks are quietly cutting thousands of employees, and more layoffs are coming

Job losses in finance could pressure the broader U.S. labor market in 2024. Faced with rising defaults on loans, lenders are poised to make deeper cuts.

As U.S.-China tensions rumble on, fintech unicorn Airwallex pushes into Latin America with Mexico deal

Global fintech giant Airwallex said it has acquired MexPago, a rival payments company based out of Mexico, for an undisclosed sum.

Net worth surged 37% in pandemic era for the typical family, Fed finds — the most on record

Higher home and stock prices and unprecedented federal stimulus fueled wealth growth from 2019 to 2022, the Federal Reserve Survey of Consumer Finances found.

Coinbase picks Ireland as its main EU regulatory hub as U.S. authorities go on the offensive

Cryptocurrency exchange Coinbase has chosen Ireland as its main operational and regulatory hub in the European Union, the company told CNBC exclusively.

Fed Chair Powell to deliver key speech Thursday: Here's what to expect

Federal Reserve Chair Jerome Powell is set to deliver what could be a key policy address Thursday.

Fed's Waller says officials can 'wait, watch and see' before acting on interest rates

Federal Reserve Governor Christopher Waller on Wednesday indicated the central bank can afford to hold off on interest rate increases.

Morgan Stanley tops profit estimates on better-than-expected trading results

Morgan Stanley has managed to avoid the turbulence afflicting some of its rivals.

Adidas shares climb after boost from Yeezy sales, guidance raise

Adidas on Tuesday hiked its full-year guidance and posted stronger-than-expected third-quarter earnings, aided by sales of its Yeezy inventory.

'Phantom hacker' scams that target seniors' savings are on the rise, FBI says

"Phantom hacker" scams are an evolution of tech support scams. Victims over 60 years old have accounted for 66% of total financial losses in 2023, the FBI said.

Bank of America is set to report third-quarter earnings — here's what the Street expects

Bank of America was supposed to be one of the big beneficiaries of higher interest rates. Instead, the stock has been the worst performer among peers this year.

Top economists unanimous on 'higher for longer' rates as inflation threats linger

Top economists and central bankers appear to be in agreement on one thing — and it's not a good thing for global markets.

Goldman Sachs is set to report third-quarter earnings — here's what Wall Street expects

While Goldman Sachs has made efforts under CEO David Solomon to diversify its revenue stream, it is Wall Street that powers the company.
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