Tag: coronavirus

Activity, Investment Banking

Strong Investment Banking to Support BofA (BAC) Q4 Earnings

January 18, 2021

Via: Yahoo

Performance of investment banking (“IB”) business, one of the key revenue sources of Bank of America BAC, is likely to have been impressive in fourth-quarter 2020. Hence, this is expected to provide much needed support to the bank’s results, scheduled […]

Capital and Risk, Operational

2020 review: Top five cyberattacks this year

December 22, 2020

Via: FinTech Futures

Ransomware is on the rise across all sectors. Sophos reports that half of all companies it surveyed had been hit by a ransomware attack and 48% of financial services firms reported being targeted. As fraudsters get more sophisticated, we will […]

Capital and Risk, Macroeconomic

November jobs report: US economy adds 245,000 jobs, unemployment rate falls to 6.7%

December 4, 2020

Via: Aol

The U.S. economy added back the smallest number of jobs in seven months in November, as the labor market endured mounting pressure from the coronavirus pandemic while businesses wait for a vaccine to be distributed next year. The U.S. Department […]

Activity, Business Banking, Corporate Banking, Products

Goldman Sachs bankers are using flying drones to help clinch billion-dollar M&A deals

November 25, 2020


Drones have arrived on Wall Street. Goldman Sachs, the world’s top mergers advisor, is among investment banks using drone technology to give its clients a bird’s-eye view of the companies they are bidding on, according to Stephan Feldgoise, the firm’s […]

Activity, Insurance

Global COVID-19 Insurance Losses to Be Higher than Early Estimates: Lloyd’s Chairman

November 19, 2020

Via: Insurance Journal

Global insurance losses from the COVID-19 pandemic will be higher this year than the $107 billion Lloyd’s of London had previously estimated, its Chairman Bruce Carnegie-Brown said on Wednesday. Carnegie-Brown told the Reuters Events Future of Insurance USA conference that […]

Activity, Insurance

Reduced Driving Turns Into Fewer Injuries and Workers’ Compensation Claims

November 10, 2020

Via: Insurance Journal

The COVID-19 pandemic comes with one bright spot for workers’ compensation insurers: Fewer workers are being injured in motor vehicle accidents. A research brief issued by the National Council on Compensation Insurance projects that workers’ compensation claims caused by motor […]

Capital and Risk, Macroeconomic

Post-Election Gains: 2,243,000 More People Employed in October

November 6, 2020


October marked the sixth straight month of post-pandemic employment gains, as the economy added 638,000 jobs and the nation’s unemployment rate dropped to 6.9 percent, a point below September’s 7.9 percent and far lower than the record-shattering, COVID-induced 14.7 percent […]

Activity, Corporate Banking

Lloyds plans 1,040 job cuts to back office support staff

November 6, 2020

Via: FinTech Futures

The roles lost are grouped around the bank’s technology and retail operations. Lloyds says that this fresh round of cuts is offset by the creation of 340 new roles elsewhere. The bank says the changes reflect its “ongoing plans to […]

Capital and Risk, Macroeconomic

As hopes fade for a major stimulus, here’s what it means for the fragile economy

November 4, 2020


As the question remains over who will capture the hotly contested presidential race, one casualty quickly emerging from fallout is the massive stimulus package Democrats were hoping to get to boost the economy. A blue-wave victory in Tuesday’s elections was […]

Activity, Insurance

WHO to Form COVID Insurance Scheme for Vaccine Side-Effects in Poor Nations

October 29, 2020

Via: Insurance Journal

BRUSSELS – A vaccine scheme co-led by the World Health Organization is setting up a compensation fund for people in poor nations who might suffer any side-effects from COVID-19 vaccines, aiming to allay fears that could hamper a global rollout […]