Finance
JP Morgan Asset Management says will absorb research costs due to MiFID-II
LONDON JP Morgan Asset Management said on Friday that it will absorb the cost of paying brokers for investment research rather than pass it on to its clients when new European regulation comes in next year.
Can a small-town Virginia banker fix Wells Fargo's board?
Wells Fargo & Co will likely turn to a former community banker and Fed official to head its board as the scandal-ridden bank tries to restore its former reputation as a solid, plain-vanilla lender, people familiar with the matter told Reuters.
New York train tunnel project hires expert in public-private finance
NEWARK, N.J. The Gateway Program, which includes building a new tunnel underneath New York's Hudson River, has hired a private financing expert from French bank Societe Generale as interim chief financial officer, the program said on Thursday.
Exclusive: Husky hires Goldman Sachs for $4 billion sale - sources
Husky Injection Molding Systems Ltd, a Canadian supplier of injection molding equipment to the global plastics industry, has hired investment bank Goldman Sachs Group Inc to explore a sale that it hopes could value it at close to $4 billion, including debt, according to people familiar with the matter.
Citi stock to double in 4-5 years, says Mike Mayo
Citigroup Inc's stock price is likely to double in the next four to five years, banking analyst Mike Mayo wrote in his first note after joining Wells Fargo Securities.
Buoyant bitcoin stirs crypto-bubble fears
LONDON Bitcoin and other "cryptocurrencies" are big money, virtually as big as Goldman Sachs and Royal Bank of Scotland combined.
Goldman to use 'personality test' for hiring decisions
Goldman Sachs Group Inc plans to begin using a "personality test" as part of the hiring process for positions in its banking, trading and finance and risk divisions, a senior Goldman executive said on Wednesday.
Republican, Democratic senators seek answers in Wells auto scandal
WASHINGTON A group of U.S. senators from both parties on Wednesday turned up the heat on Wells Fargo Inc. over its latest scandal, in which hundreds of thousands of car-loan borrowers were charged each month without their knowledge for collision insurance, which many of them did not need.
Santander seals biggest sale yet of Spanish property
FRANKFURT Spanish bank Santander has sold control of property worth 10 billion euros ($12 billion) to U.S. investor Blackstone Group, following its rescue of Banco Popular.
U.S. charges former Transmar cocoa executives with fraud
NEW YORK Three former executives at Transmar Commodity Group Ltd have been charged with defrauding banks to win a $400 million credit line for their now bankrupt New Jersey-based cocoa trading company, federal prosecutors said on Tuesday.