Binance’s native BNB token drops to its lowest level since July amid withdrawal concerns and FTX ties
It has been over a month since FTX collapsed, but investors’ concern over Binance has not lessened. In the past week, Binance’s native token, BNB, has declined 15%, including a decline of over 6% in the last 24 hours. BNB, first …
Wells Fargo agrees to $3.7 billion settlement with CFPB over consumer abuses
Wells Fargo has agreed to a 3.7 billion dollar settlement with the Consumer Financial Protection Bureau over customer abuses, including abuses related to checking accounts and mortgages. Some of the misconduct occurred as recently as this year. The company was ordered to …
FTX spokesman Kevin O’Leary says he lost his $15 million payday from the firm
As an investor, “Shark Tank” judge, and CNBC contributor, Kevin O’Leary said Thursday that he had lost all $15 million FTX paid him to serve as its spokesman. O’Leary and other celebrities, such as Tom Brady and Larry David, were sued by …
Fed’s Collins expresses hope that inflation can be tamed without hitting jobs.
On Friday, President of the Boston Federal Reserve Susan Collins said she is confident that policymakers can tame inflation without harming employment. “By raising rates, we are aiming to slow the economy and bring labor demand into better balance with supply,” Collins …
Wall Street hunkers down as Goldman Sachs warns traders of shrinking bonus pools.
According to people who know the situation, Goldman Sachs traders and salespeople will have to contend with a bonus pool that’s at least 10% smaller than last year, despite producing more revenue this year. Consequently, the New York-based bank is experiencing a …
Berkshire Hathaway’s operating earnings rise 20%, and the conglomerate buys back another $1 billion worth of shares
Despite rising recession fears, Berkshire Hathaway posted a strong third-quarter profit on Saturday, and Warren Buffett continued to buy back stock at a modest pace. The operating earnings of the Omaha-based conglomerate – which include profits from the many businesses owned by …
Citigroup and Barclays cut hundreds of employees as layoffs ramped up Wall Street.
As Wall Street grapples with sharp declines in revenue and dimming prospects for next year, Citigroup and Barclays have cut advisory and trading personnel this week. New York-based Citigroup laid off approximately 50 trading personnel this week, according to individuals with knowledge …
Inflation Fight Should Not Be Prematurely Withdrawn, Says Fed Vice Chair Brainard
The Federal Reserve’s Vice Chair, Lael Brainard, stressed on Friday the importance of addressing inflation and not abandoning the task until it has been accomplished. “Monetary policy will need to be restrictive for some time to have confidence that inflation is moving …
Ceos Of Goldman Sachs And Jpmorgan Warn Of Recession As Labor Shortages Keep Fed Aggressive
As the Federal Reserve aggressively tightens monetary policy due to a tight labor market, Goldman Sachs CEO David Solomon and JPMorgan CEO Jamie Dimon anticipate a U.S. recession. During a panel discussion at the Future Initiative Investment conference in Riyadh, Saudi Arabia, …
JPMorgan Chase, Taking a Feature From Fintech Rivals, Gives Some Customers Early Payday Deposits
As part of its efforts to attract customers to its no-overdraft checking account, JPMorgan Chase is giving some clients early access to their direct deposits, a feature popularized by fintech competitors. According to Ryan MacDonald, Chase’s head of growth financial products, the …
