Financial services
The Dow Jones Industrial Average reduced its loss to 0.9% by the closing bell, after recovering from session lows in late trading. Credit Suisse, a Swiss banking giant, fell as it struggled to stay afloat, while U.S.-based First Republic got slammed with a junk rating. Microsoft rose
Financial markets
Citigroup Inc. is expanding into the cryptocurrency market by forming a new digital assets group within its wealth management unit. The group will be led by Alex Kriete and Greg Girasole, who will be responsible for developing product capabilities, client delivery mechanisms, and thought leadership around digital assets. This move
Financial markets
The COVID-19 pandemic led to widespread economic damage, but a Credit Suisse report found that the number of millionaires worldwide increased by 5.2 million to 56.1 million in 2020. This trend was driven by recovering stock markets and soaring house prices, which helped boost the wealth of the
Financial markets
Alexandria Real Estate Equities, a leading real estate investment trust specializing in life science, agtech, and technology campuses, has closed its underwritten public offering of 7,000,000 shares of common stock at $184.00 per share. This move enables the company to raise capital and fund pending acquisitions, while
Financial markets
Charter Communications, Inc. has announced the appointment of Jeff Murphy as Senior Vice President, Corporate Finance and Development. In this role, Murphy will oversee all debt and equity capital markets strategy and execution, treasury, mergers and acquisitions, and corporate development, including equity investments and joint ventures. Murphy brings over two
Banks (Finance)
Credit Suisse, a prominent Swiss investment bank, is facing a crisis after the collapse of Archegos Capital Management, a hedge fund that invested the wealth of financier Bill Hwang. The bank's market value has taken a significant hit, with a loss of £3.2 billion in just one
Banks (Finance)
Global stocks fell on Monday as investors absorbed the ripple effects of Archegos Capital's massive forced liquidation of its leveraged equity bets. The Dow Jones Industrial Average dipped 108 points, or 0.33%, to 32,964, while the S&P 500 declined 0.32% and the Nasdaq
Banking industry
Today's noteworthy upgrades in the analyst community reflect a surge in optimism across various sectors. A total of 44 stocks received upgrades from 26 different analysts, signaling potential growth opportunities in the market. The upgrades span across industries, from technology and healthcare to energy and financial services. Key
Banking industry
The Russian stock market began the week on a sour note, with the RTS index plummeting to a 4-month low due to a combination of factors, including decreased global market trading, dwindling oil prices, and a weaker ruble. The MICEX stock index closed down 0.7% to 1584.92, while
Financial services
The Federal Reserve has directed eight of the largest US banks to hold more capital, with a total of around $200 billion in additional capital required to be accumulated by the banks. This move aims to reduce the risk of future financial crises and minimize the likelihood of taxpayer bailouts.
Financial services
The banking sector is showing signs of recovery, with several top stocks increasing in value. As of July 21, 2015, the Dow Jones Industrial Average has dropped 1.1%, but a few companies within the banking industry are bucking this trend. Fifth Third Bancorp (FITB), Regions Financial (RF), and Citigroup
Financial services
The Greek debt deal has given stocks a boost, with the S&P 500 climbing 1.1% on Monday. However, experts from CNBC's "Fast Money" TV show, including Steve Grasso and Karen Finerman, warn that the rally may not be a sign of the "
