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Activity, Investment banking

The Federal Reserve has a glorious history of hurting investors

June 13, 2018

Via: Market Watch

Investors would have to be stupid to ignore the Federal Reserve’s history of causing pain. But that is exactly what momentum investors are doing now. History repeats itself, but human nature being what it is, many investors do not learn. […]


Regulations

Wells Fargo Names Three Senior Bankers to Leadership Team

June 13, 2018

Via: ABF Journal

Wells Fargo Business Banking added Doug Banzuly, Brett Beugen and Gary Dyshaw to the Midwest region’s leadership team. The three will report to Tim Billerbeck, head of Wells Fargo Business Banking for the Midwest region, and will be responsible for […]


Capital and risk, Operational

Citigroup could shed as much as half of its 20,000 tech and operations staff due to automation

June 12, 2018

Via: CNBC

Citigroup’s investment banking business could shed as much as half of its 20,000 technology and operations staff in the next five years due to automation, the Financial Times reported on Monday. Operational positions were the “most fertile for machine processing,” […]


Activity, Trading

U.S. stock futures slip as investors shift from Trump-Kim summit to central bank meetings

June 12, 2018

Via: Market Watch

U.S. stock futures saw muted action on Tuesday as investors shifted from a historic summit between North Korean leader Kim Jong Un and President Donald Trump in Singapore to the start of a series of important central-bank meetings kicking off […]


Business banking, Products

Wells Fargo under fire from USAA over remote deposit capture patent

June 11, 2018

Via: Banking Technology

The United Services Automobile Association (USAA) is suing on grounds of intellectual property charges for unspecified damages, over USAA’s remote deposit capture patents. San Antonio-based USAA claims to have invented such tech, and thus started demanding licensing fees from banks […]


Activity, Trading

Gold slips ahead of North Korea summit, expected Fed rate action

June 11, 2018

Via: Market Watch

Gold futures slipped Monday as a wait-and-see mood took over ahead of the much-touted meeting over North Korea’s nuclear power and two major central bank decisions on the docket this week. August gold GCQ8, -0.02% fell $3.70, or 0.3%, to […]


Capital and risk, Credit

Wait! Don’t destroy those old credit cards yet

June 8, 2018

Via: Market Watch

You know that “starter” credit card collecting dust in your wallet? The one with a high interest rate, lackluster benefits, and zero rewards? Now that you’ve upgraded to a better card, you might be tempted to close your old cards […]


Activity, Corporate banking

PNC Leads $230MM Facility for Motorcar Parts of America

June 8, 2018

Via: ABF Journal

PNC Bank led a new five-year, $230 million credit facility for Motorcar Parts of America. The facility includes a $200 million revolver and $30 million term loan and replaces a previous credit facility consisting of a $120 million revolver and […]


Capital and risk, Macroeconomic

G-7 leaders need to offer Trump a ‘golden bridge’ of retreat to avert a trade war, chief economist says

June 7, 2018

Via: CNBC

Cooler heads will prevail despite the steady ramp-up of rhetoric on trade tariffs, the founder of New York-based consultancy High Frequency Economics believes. Finance ministers of the world’s wealthiest nations will meet at the G-7 summit Friday in Quebec, and […]


Activity, Trading

U.S. stocks set to build on bank-fueled rally

June 7, 2018

Via: Market Watch

U.S. stocks on Thursday looked mostly on track to extend gains from the prior session partly powered by financial shares amid a shift in the outlook for tighter monetary policy in both the U.S. and Europe. What are markets doing? […]