Goldman Pays Up for Talent, Sending Profits Down

It’s time to pay the bill due to the pesky Wall Street pandemic. Investment banking units across the industry have had huge results in the pandemic, first from nervous companies that wanted to increase debt and then from confident executives who wanted to expand their empires. The tumultuous markets have pushed trading returns skyrocketing. Companies … Read more

Credit Suisse’s António Horta-Osório Lost Board Support Over Covid-19 Rules Breach

He came to fix the Credit Suisse group AG’s shattered culture. Then it became part of the problem. Antonio Horta Osorio was hoping for a slap in the wrist on Sunday from Credit Suisse CS 0.38% Council for breaching coronavirus quarantine rules on trips to events, according to people familiar with his departure. Instead, he … Read more

Credit Suisse Chairman to Leave After Breaking Covid Travel Rules

Credit Suisse Group AG CS 0.38% Chairman Antonio Horta Osorio left the World Bank after a board investigation into his travel and personal behavior, according to people familiar with the bank. Credit Suisse said late Sunday that Mr Horta-Osório had resigned following a board-mandated investigation. The people said the investigation examined his behaviour, including travel … Read more

Citigroup Sticks With Its Covid-19 Vaccine Mandate, While GE Drops Its Rules

City Group company c -1.25% It is committed to delegating a Covid-19 vaccine to its US employees. General Electric company Give 0.68% Not. The two US companies are heading in opposite directions after the Supreme Court on Thursday blocked the Biden administration’s rule that large employers require their employees to get vaccines or be tested. … Read more

Get ready for the climb. Here’s what history says about stock-market returns during Fed rate-hike cycles.

Bond yields are rising again so far in 2022. The US stock market seems vulnerable to a goodwill correction. But what can you really say from just a fortnight into a new year? Not much, much. One thing is for sure: Gone are the days of making easy money in the era of a pandemic. … Read more

Dow Closes Lower as Bank Stocks Fall

The winter stock market sell-off deepened this week, pushing the three major indices into the red for 2022. The S&P 500 and Dow Jones industrial indexes have fallen for the second week in a row, while the Nasdaq Composite has fallen in the past three weeks. Investors continued to sell bonds, pushing the yield on … Read more

Stocks Fall Amid Bank Earnings

US stocks fell on Friday after lackluster earnings reports from some of the country’s largest banks and weaker-than-expected economic data deepened the winter sell-off. On Friday, the three major indexes opened lower before recovering from their lows early in the session. The S&P 500 was recently down 0.4%, while the Dow Jones Industrial Average was … Read more

Elon Musk Gives Dogecoin a Boost As Tesla Starts Accepting the Cryptocurrency for Payment

Tesla said Elon Musk company TSLA -0.04% It accepts payment for some goods using dogecoin, which is a reprieve of the electric car maker for accepting cryptocurrency for some payments. Tesla CEO said In an early tweet on Friday, “Tesla merchandise is purchasable with Dogecoin.” The company’s website showed some items, including one titled “Giga … Read more

Elon Musk Says Tesla Is Accepting Dogecoin for Some Merchandise

Tesla said Elon Musk company TSLA -6.75% It accepts payment for some goods using dogecoin, which is a reprieve of the electric car maker for accepting cryptocurrency for some payments. Tesla CEO said In an early tweet on Friday, “Tesla merchandise is purchasable with Dogecoin.” The company’s website showed some items, including one titled “Giga … Read more

Bad news for home buyers: Mortgage rates have soared to their highest levels since March 2020

Interest rates are rising in the wake of data showing a worrying inflation outlook – and homebuyers are willing to pay the price. The 30-year fixed-rate mortgage averaged 3.45% for the week ending January 13, up nearly a quarter of a percentage point from the previous week, Freddie Mac FMCC, -0.75% reported on Thursday. It’s … Read more