HSBC and Barclays shareholders eye returns as tariffs cloud banks’ reports April 28, 2025 The FTSE 100’s ‘Big Five’ banks are gearing up for first-quarter results season – and shareholders will be eyeing how lenders set the tone for the year ahead. HSBC will kick off reports on Tuesday, followed by Barclays on Wednesday and Lloyds on Thursday. Natwest and Standard Chartered will round off the results week on [...]
Boeing losses narrow as boss says recovery is working April 23, 2025 Boeing’s net losses narrowed in the first quarter of the year in an early sign the US planemaker may turn a corner this year. The firm reported a net loss of $31m (£23.3m) in the three months ended March, down from $355m the year prior. Core losses per share came in at ¢49, well ahead [...]
City bonuses beat Wall Street after cap scrapped April 22, 2025 UK financial services handed out the industry’s highest bonuses last year after taking advantage of the lifting of pay restrictions. Workers pocketed an average $149k (£114k) bonus in 2024, according to fresh data from jobs platform eFinancialCareers. This marked a 25.7 per cent jump from 2023 and sent the UK above North America, which rose [...]
Bank of America, JP Morgan, Goldman Sachs: Wall Street cashes in on market volatility April 15, 2025 Wall Street’s banking giants pocketed record revenues in the first quarter of 2025 as market volatility ramped up. Top lenders were able to smash profit expectations after reaping the rewards of a trading boom caused by President Donald Trump’s erratic tariff agenda. Trump’s bait-and-switch on tariffs triggered countless sell-offs as traders across the globe ditched [...]
Goldman Sachs: Profit jumps after record quarter for traders April 14, 2025 Goldman Sachs posted a 15 per cent jump in first-quarter profit. The Wall Street giant’s revenue was boosted by record equities trading amid market volatility. The bank’s first-quarter net revenue was $15.06 bn (£11.4bn), surpassing the analyst consensus of $14.8bn (£11.2bn). Net earnings were $4.74bn (£3.6bn). Equity-trading revenue rose 27 per cent from the previous [...]
15 years on from The Big Short, securitisation is back March 7, 2025 The Big Short hit bookshelves 15 years ago, but the era of securitisation it depicts is far from over — in fact, it’s booming, says Tim Focas Fifteen years ago this month, Michael Lewis’s The Big Short hit bookshelves, exposing how Wall Street’s reckless financial engineering fuelled the 2008 financial crisis. It was a cautionary tale to [...]
Wall Street banks JP Morgan, Citi and Goldman Sachs report bumper profit January 15, 2025 Some of Wall Street’s biggest banks reported a surge in profit today on the back of a rebound in dealmaking and strengthening equity markets toward the end of last year. JPMorgan Chase, the US’s biggest lender, said profit had jumped 50 per cent to $14bn (£11.41bn) through the final quarter as its dealmakers and traders [...]
How American Express UK is looking to crack Gen Z October 24, 2024 American Express’s UK boss, Hannah Lewis, sits down with City AM to talk breaking into a younger markets and shaking up its image. “Do you take Amex?” It’s a question that has slipped so far into the cultural lexicon there are even memes about it. Scroll through a dedicated Reddit page on American Express and [...]
US inflation to take centre stage after bumper jobs report October 6, 2024 Economists expect the headline rate to fall to 2.3 per cent from 2.5 per cent, which would leave inflation at its lowest level since February 2021.
Nvidia shares plunge: Are investors on the edge of ‘AI apathy’? September 4, 2024 Analysts are asking if we are at “peak Nvidia” or if the latest selloff is simply a healthy correction in an overheated market. Shares in Nvidia, the poster child for AI, plunged nearly 10 per cent on Tuesday, wiping out $279bn of value—the largest single-day loss ever recorded for a US stock. Since 19 August, [...]