Low rates bruise Bank of America profits into 2020
Bank of America Corp got stung by lower interest rates in the fourth quarter, sending its profit down 4%, a trend that management expects to continue this year.
Citigroup female employees earn 27% less than men
Citigroup’s female employees earn 27% less than male employees on average, when factors like title and location are not taken into account, the Wall Street bank said on Wednesday.
Holiday shock for Target as toys, electronics disappoint
Target Corp fell short of its own expectations for holiday season sales on Wednesday, reporting a drop off in online growth and demand for toys and electronics that sent a shiver through the wider U.S. retail sector.
BlackRock CEO Fink: Investors not ‘overzealous’ on equities despite rally
Even as the stock market enjoyed a sharp rally recently, many of BlackRock’s clients were under-invested in equities and remained heavily oriented towards fixed-income securities, BlackRock Inc Chief Executive Larry Fink said on Wednesday.
BlackRock beats profit estimates as assets swell to record $7.43 trillion
BlackRock Inc , the world’s largest asset manager, beat analysts’ estimates for quarterly profit on Wednesday, helped by strong flows into its exchange-traded fund business that boosted overall assets under management to a record $7.43 trillion.
Kudlow says future tariff relief on China depends on enforcement: CNBC
U.S. tariffs will remain on Chinese imports while the Trump administration sees how enforcement plays out under the Phase 1 trade deal with Beijing, White House economic adviser Larry Kudlow said on Wednesday.
S&P, Dow open lower as banks weigh
The S&P 500 and the Dow opened lower on Wednesday, dragged down by banking shares after disappointing results from Goldman Sachs, while investors awaited the release of details of an initial U.S.-China trade deal.
U.S.-China Phase 2 trade talks may not start anytime soon: Global TImes
Phase 2 trade deal talks between Washington and Beijing may not start anytime soon, China’s Global Times reported on Wednesday citing an unnamed source.
Goldman profits slump on 1MDB legal woes
Goldman Sachs Group Inc reported a bigger-than-expected fall in quarterly profit on Wednesday as the Wall Street bank set aside more money to cover legal costs for the 1MDB corruption scandal, overshadowing a rebound in its trading business.
China’s Liu says to work with U.S. to achieve tangible results after Phase 1 deal: Xinhua
Chinese Vice Premier Liu He said Beijing and Washington will work together following the signing of the Phase 1 trade deal to obtain tangible results, China’s official Xinhua news agency reported on Wednesday.
