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State Street plans to cut the jobs of 1,200 employees this year, after pledging to avoid layoffs during the pandemic

Boston, Massachusetts. Thomas Pallini/Business Insider State Street Corp. announced on Tuesday plans to cut around 3% of the jobs in its global workforce, eliminating 1,200 positions in the coming year. The cuts will allow State Street to save $120 million in 2021, and about twice as much in 2022, according to the company's Chief Financial Officer. The CEO said the primary reason for the job cuts was the company's increased reliance on automation. Visit Business Insider's homepage for more...
Tags: News, Congress, Finance, Wall Street, Boston, US, Trends, Citigroup, Goldman Sachs, Coo, State Street, Hanley, State Street Corp, State Street Corporation, Ron O Hanley, Grace Kay


Palantir shares rise on deal with PG&E to enhance safety and reliability of California's electric grid

Palantir logo on New York Stock Exchange. Noam Galai/Getty Images Palantir jumped as much as 6% Tuesday after it announced a partnership with PG&E to improve the safety of California's electric grid. PG&E is set to use Palantir's Foundry software to streamline data management and collection. This comes just a week after Citi analysts downgraded Palantir to "sell" in a note that warned the stock could be "vulnerable" in 2021. Sign up here for our daily newsletter, 10 Things Before the Openi...
Tags: California, US, Trends, Markets, Citigroup, Trading, Denver, Palantir, PG&E, Citi, Radke, Ray Dalio, Tech Stocks, Analyst Commentary, Utilities Stocks, Will Daniel


Goldman Sachs' 4th-quarter earnings beat estimates as trading desks continue to impress

Goldman Sachs CEO David Solomon speaks at the 2019 Milken Institute Global Conference Michael Kovac/Getty Images Goldman Sachs reported fourth-quarter figures on Wednesday that beat Wall Street's expectations for revenue and profit.The bank added $293 million to its loan-loss reserves through the quarter, further bolstering its safety net at the expense of stronger profits.Still, outperformance by various trading desks buttressed earnings in the last three months of 2020.Goldman gained as m...
Tags: Wall Street, US, America, Trends, Bank Of America, Citigroup, Goldman Sachs, Biden, Goldman, Equities, Saylor, Charles Schwab, Ray Dalio, David Solomon, MicroStrategy, Ben Winck


Jamie Dimon declares war on fintechs - New state of alt data - The 'untouchable client'

NEW YORK, NY - SEPTEMBER 8: An aerial view One World Trade Center in Lower Manhattan, September 8, 2016 in New York City. New York City is preparing to mark the 15th anniversary of the September 11 terrorist attacks. (Photo by Drew Angerer/Getty Images) Drew Angerer/Getty Images Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:JPMorgan's Jamie Dimon just declared war on fintechsBig players like Bloomberg LP are starting to upend the alt...
Tags: New York, Alabama, Trends, Bloomberg, Merrill Lynch, Citigroup, World Trade Center, Morgan Stanley, Doj, Bloomberg LP, Jamie Dimon, Trump, Jpmorgan, Lower Manhattan, Vista Equity Partners, Robert Galbraith


US stocks slide as disappointing bank earnings prompt end-of-week sell-off

REUTERS/Brendan McDermid US stocks sank on Friday as investors digested disappointing bank earnings and a December slump in retail sales.Retail sales shrank 0.7% in December as COVID-19 lockdowns cut into holiday-season spending, according to Census Bureau data published Friday. Economists expected sales to hold flat from November.Less-than-stellar earnings reports from Citigroup and Wells Fargo led financials to drag on the S&P 500.While Democrats' soft Senate majority lifts the odds of B...
Tags: Senate, US, Trends, Georgia, Markets, Bank Of America, Bloomberg, Joe Biden, C, Bitcoin, Gop, Consumer Spending, Barclays, Citigroup, Treasury, Oil Price


Spotify sinks 7% after Apple announces plans for podcasting subscription service

Reuters Spotify shares dropped as much as 7% on Friday after Apple announced it's in talks to start a new podcasting subscription service. The stock was already trading lower on Friday after it was downgraded to "sell" from "neutral" by Citigroup analysts in a note on Friday that warned the company's move to podcasts "may not be working." Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Spotify shares tumbled as much as 7% on Friday after Apple announced it's in t...
Tags: Apple, Spotify, Europe, Trends, Markets, Citigroup, SEC, Goldman, Citi, Spotify Spotify, Joe Rogan, Gimlet Media, Tech Stocks, Bazinet, Reuters Spotify, Spotify Stock


Here's Why Citigroup Stock Is Falling on Friday

The bank's fourth-quarter results don't seem to be impressing investors.
Tags: Citigroup


Citigroup misses 4th-quarter revenue forecasts as bond trading disappoints

People walk past a Citibank branch of Citigroup in New York. Profit plummeted at the bank because of COVID-19 pandemic. Ron Adar/SOPA Images/LightRocket/Getty Images Citigroup reported mixed fourth-quarter earnings on Friday that were hurt by weaker-than-expected fixed-income trading revenues. The bank reported profits that beat analyst estimates, but revenue fell short.Citigroup saw weakness in its consumer banking arm, with revenues down 14%.Shares of Citigroup fell more than 1% in early ...
Tags: New York, Trends, Markets, Citigroup, Goldman Sachs, Citibank, Federal Reserve, Investment Banking, Wells Fargo, Citi, Jpmorgan, Ron, Jeff Gundlach, Michael Corbat, Matthew Fox, Citigroup Stock


Citigroup Beats Profit Expectations for Fourth Quarter

The bank enjoyed strong results in 2020 from its Wall Street operations, but that was offset by the billions of dollars it had to put...
Tags: Citigroup


What to watch today: Stocks to fall after Biden releases Covid plan, banks report earnings

Stock futures indicated a lower open after JPMorgan Chase, Wells Fargo and Citigroup released quarterly earnings.
Tags: Citigroup, Biden, JPMorgan Chase Wells Fargo, COVID


Citigroup Smashes Q4 Earnings Forecast On $1.5 Billion Reserve Release, But Revenues Slide

Citigroup followed JPMorgan with much stronger-than-expected fourth quarter earnings driven in part by the release of billions in...
Tags: Citigroup, Jpmorgan


Citigroup profit beats, but shares dip on higher costs, weak revenue

Citigroup Inc reported a 7% decline in fourth-quarter profit on Friday, beating market expectations but failing to draw Wall Street...
Tags: Citigroup, Citigroup Inc


Dow drops 200 points as traders mull Biden's stimulus plan and soft retail-sales data

Getty Images US stocks sank on Friday as investors digested President-elect Joe Biden's stimulus plan and a December slump in retail sales.Biden rolled out a $1.9 trillion relief proposal on Thursday that includes $1,400 direct payments, state and local government aid, and expanded unemployment benefits. While Democrats' soft Senate majority increases the odds of a deal being passed, Republican opposition could strip the bill of some elements or push for higher taxes to offset its cost.Ret...
Tags: Senate, US, Trends, Georgia, Markets, Bloomberg, Joe Biden, Gop, Economic recovery, Citigroup, Treasury, Oil Price, Republican, Biden, Donald Trump, Retail Sales


Citigroup beats analysts’ profit estimates as bank releases money set aside for loan losses

Citigroup's earnings per share of $2.08 far exceeded Refinitiv estimates of $1.34.
Tags: Citigroup


10 things you need to know before the opening bell

President-elect Joe Biden speaks Saturday, Nov. 7, 2020, in Wilmington, Del. Associated Press/Andrew Harnik Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.1. Biden is pledging to spend nearly $2 trillion on boosting the economy. Find out how the markets have reacted.2. Checks to households worth $1,400 and federal unemployment benefits. Read more about Joe Biden's $1.9 trillion plan.3. The UK economy is heading for a double-dip reces...
Tags: UK, Trends, Cisco, Tesla, Joe Biden, Citigroup, Michigan, Federal Reserve, Biden, Morgan Stanley, Blackrock, Larry Fink, NY State, Andrew Harnik, Amanda Cooper, Jay Powell


Goldman taps debit-card partner - Morgan Stanley MD promotions - 7Park goes dark

Jane Fraser addresses Brazil-US Business Council forum in Washington, DC in March 2019. Erin Scott/Reuters And so it begins. Earnings seasons for the big US banks kicks off today. JPMorgan, Wells Fargo, and Citigroup are up first, all reporting today. Next week will be Bank of America and Goldman Sachs on Tuesday, followed by Morgan Stanley on Wednesday. In case you missed it, we did a big preview of earnings based on conversations we had with analysts. Check it out here. If you're not yet ...
Tags: US, Trends, Bank Of America, Vista, Washington Dc, Citigroup, Goldman Sachs, Morgan Stanley, Goldman, Intuit, Fintech, Visa, Blackrock, Wells Fargo, Reuters, World Economic Forum WEF


Yang kicks off candidacy for New York City mayor

By Gregory Krieg and Rob Frehse | CNN Former Democratic presidential candidate Andrew Yang officially jumped into the crowded race to become the next mayor of New York City on Thursday morning. At a kick-off rally in Upper Manhattan, Yang promised to “revive” a city stricken by the coronavirus and introduced newly-elected Rep. Ritchie Torres as a co-chair on his campaign — a striking endorsement for a candidate with no experience in city politics. “I’m running for mayor for a very simple reason,...
Tags: Transportation, New York, Congress, Senate, Politico, New York City, US, Georgia, Sport, Joe Biden, Cnn, Soccer, New York Times, Citigroup, Manhattan, Bill De Blasio


Churchill Capital Corp IV has surged 70% in just 4 days amid Lucid Motors merger talks

Lucid Air. Lucid Churchill Capital Corp IV is continuing its meteoric rise on Thursday, with shares surging roughly 9% before paring some gains. The SPAC's market cap now pushes $4 billion after shares shot up over 70% in the last four days. Former Citigroup man Michael Klein may have found a winning partner in EV maker Lucid Motors. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Churchill Capital Corp IV is continuing its meteoric rise on Thursday. Shares hav...
Tags: Trends, Markets, Tesla, Shanghai, Citigroup, SEC, Stocks, Stock Market, EVs, Lucid, Faraday Future, Ev, SPAC, AT T Inc, DirecTV, Michael Klein


Walmart, Amazon and other US corporate giants in cutting off donations to Republican lawmakers who opposed Biden's certification as president

Supporters of US President Donald Trump broke into the US Capitol on January 6, 2021, in Washington, DC. SAUL LOEB/AFP via Getty Images Walmart will halt political donations to lawmakers that opposed certifying president-elect Joe Biden's victory. It joins Amazon, Morgan Stanley, Dow, and AT&T in deciding to cut funding to specific Republicans. Separately, JP Morgan, Citibank, Microsoft, and Facebook said they will temporarily pause all political donations to both Republicans and Democrats...
Tags: Google, Amazon, Facebook, Politics, Microsoft, Congress, Hotels, Finance, Senate, US, Trends, Tech, General Motors, Walmart, Bloomberg, Joe Biden


Citigroup’s #UAE Wealth-Management Unit Plans to Triple Assets - Bloomberg

Citigroup’s UAE Wealth-Management Unit Plans to Triple Assets - Bloomberg Citigroup Inc.’s wealth-management business in the United Arab Emirates plans to triple assets under management to $15 billion over the next five years by increasing the number of its client-relationship managers.As part of the strategy, Citibank UAE is targeting to quadruple the number of affluent clients in the country, the company said in an emailed statement. The growth will partly come from a mix of physical and digit...
Tags: Travel, Japan, New York, Middle East, United Arab Emirates, Citigroup, World Bank, Uae, UBS Group AG, Credit Suisse Group AG, France New Zealand, Standard Chartered Plc, Rupert Neil Bumfrey, Triple Assets Bloomberg, Citibank UAE


Amazon joins Airbnb, Marriott, and other US corporate giants in cutting off donations to Republican lawmakers who opposed Biden's certification as president

Supporters of US President Donald Trump broke into the US Capitol on January 6, 2021, in Washington, DC. SAUL LOEB/AFP via Getty Images Amazon has become the latest US corporate giant to cut off donations to GOP lawmakers who objected to certifying Democrat Joe Biden as president. It joins Morgan Stanley, Dow, and AT&T in deciding to cut funding to specific Republicans. Separately, JP Morgan, Citibank, Microsoft, and Facebook said they will temporarily pause all political donations to both...
Tags: Google, Amazon, Facebook, Politics, Microsoft, Congress, Hotels, Finance, Senate, Boston, US, Trends, Tech, General Motors, Bloomberg, Joe Biden


Capitol riot prompts top US firms to pull funding for leading Republicans

Companies such as Citigroup and Marriott are deserting lawmakers who backed Trump’s bid to overturn Biden’s victoryRepublicans who voted to block Joe Biden’s confirmation as president have been deserted by some of the biggest corporations in the US, as some leading rightwing politicians begin to face potential consequences for the Capitol riot on Wednesday. Continue reading...
Tags: Republicans, US, Joe Biden, US news, US politics, Ted Cruz, Marriott, Citigroup, US Congress, Biden, US political financing, Trump, Capitol, US elections 2020, US Capitol breach


Intercontinental Exchange's digital asset marketplace Bakkt to go public via SPAC

Bakkt crypto application. Nipitpon Singad/EyeEm/Getty images Intercontinental Exchange's Bakkt is set to go public via merger with SPAC VPC Impact Acquisition Holdings. In a CNBC interview, CEO Gavin Michael said that the company hopes to empower customers to "use their digital assets for everyday spending." Bakkt Holdings, Inc. will have an enterprise value of over $2 billion and expects to launch its flagship app in March. The company has partnered with the likes of Chase, JetBlue, Ameri...
Tags: US, Trends, Markets, Bitcoin, Citigroup, Cryptocurrencies, Cnbc, Michael, Nyse, Citigroup Inc, SPAC, Jim Cramer, Intercontinental Exchange, Jeffrey Sprecher, Intercontinental Exchange Inc, JetBlue American Express


Marriott, Morgan Stanley, Dow, and other US firms are cutting off donations to Republican politicians that opposed Biden's certification as president

Supporters of US President Donald Trump broke into the US Capitol on January 6, 2021, in Washington, DC. SAUL LOEB/AFP via Getty Images Marriott, Morgan Stanley, and Dow are among companies cutting off donations to GOP lawmakers who objected to certifying Democrat Joe Biden as president. Goldman Sachs is reportedly likely to follow suit. Separately, JP Morgan, Citibank, Microsoft, and Facebook said they will temporarily pause all political donations to both Republicans and Democrats comple...
Tags: Facebook, Politics, Microsoft, Congress, Hotels, Finance, Senate, US, Trends, Tech, General Motors, Joe Biden, Companies, Gop, Ford, Washington Dc


Marriott, Morgan Stanley, Dow, and other US firms are cutting off Republicans that opposed Biden's certification as president

Supporters of US President Donald Trump enter the US Capitol's Rotunda on January 6, 2021, in Washington, DC. SAUL LOEB/AFP via Getty Images Marriott, Morgan Stanley, and Dow are among companies cutting off donations to GOP lawmakers who objected to certifying Democrat Joe Biden as president. Goldman Sachs is reportedly likely to follow suit. Separately, JP Morgan and Citibank said they will temporarily pause all political donations to both Republicans and Democrats completely. Last We...
Tags: Facebook, Politics, Congress, Hotels, Finance, Senate, US, Trends, Tech, General Motors, Joe Biden, Companies, Gop, Ford, Washington Dc, Mary Barra


In the wake of the Capitol siege, Marriott, Morgan Stanley, and other US firms are cutting off Republicans that opposed Biden's certification as president

Supporters of US President Donald Trump enter the US Capitol's Rotunda on January 6, 2021, in Washington, DC. SAUL LOEB/AFP via Getty Images Marriott, Morgan Stanley, the Blue Cross Blue Shield Association, and Commerce Bank have cut off donations to GOP lawmakers who objected to certifying Democrat Joe Biden as president, and Goldman Sachs is reportedly likely to follow suit. JP Morgan and Citigroup have all said they will temporarily pause all political donations to both Republicans ...
Tags: Facebook, Politics, Congress, Hotels, Finance, Senate, US, Trends, Tech, General Motors, Joe Biden, Companies, Gop, Ford, Washington Dc, Mary Barra


In the wake of the Capitol siege, Marriott, Morgan Stanley, Dow, and other US firms are cutting off Republicans that opposed Biden's certification as president

Supporters of US President Donald Trump enter the US Capitol's Rotunda on January 6, 2021, in Washington, DC. SAUL LOEB/AFP via Getty Images Marriott, Morgan Stanley, the Blue Cross Blue Shield Association, and Commerce Bank have cut off donations to GOP lawmakers who objected to certifying Democrat Joe Biden as president, and Goldman Sachs is reportedly likely to follow suit. JP Morgan and Citigroup have all said they will temporarily pause all political donations to both Republicans ...
Tags: Facebook, Politics, Congress, Hotels, Finance, Senate, US, Trends, Tech, General Motors, Joe Biden, Companies, Gop, Ford, Washington Dc, Mary Barra


Capitol Riot Prompts Some Big Banks and Companies to Pause Political Funding

JPMorgan Chase and Citigroup will halt all PAC donations, while Blue Cross and Marriott will pause funding to Republicans who objected...
Tags: Marriott, Citigroup, Blue Cross, JPMorgan Chase


JPMorgan and Citigroup join U.S. corporations halting political donations after Capitol riot

The moves were part of the larger fallout of the Jan. 6 riots that forced American corporations to come to terms with how to respond.
Tags: Citigroup, Jpmorgan, Capitol


The Latest: Trump orders US flags lowered to honor officers

WASHINGTON (AP) — The Latest on President Donald Trump and impeachment (all times local): 5:25 p.m. President Donald Trump is ordering the U.S. flag to be flown at half-staff as a sign of respect for two U.S. Capitol Police officers who have died since last Wednesday’s violent protests at the Capitol, as well as all members of law enforcement across the nation. In a proclamation Sunday, Trump says the show of respect will take place at the White House and all federal buildings through sunset on ...
Tags: New York, Media, Nbc, Congress, California, Washington, Senate, White House, Uncategorized, US, Sport, Joe Biden, Cnn, Soccer, Pennsylvania, Gop