US Banks' Profits to Shrink as They Brace for Souring Loans
U.S. banking giants are expected this week to report lower profits for the fourth quarter after they set money aside to cover souring loans.
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Rolls-Royce Sees Record Sales as Luxury Buyers Shake Off 'Market Volatility'
The British luxury automaker also began sales of its Spectre EV in the fourth quarter.
Bank of America Takes $1.6 Billion Charge on Libor Transition
Bank of America Corp. took a roughly $1.6 billion charge tied to the finance industry’s shift away from the London Interbank Offered Rate benchmark.
Troubled China Shadow Bank Zhongzhi Files for Bankruptcy
Chinese shadow banking giant Zhongzhi Enterprise Group Co. filed for bankruptcy, cementing rapid fall of a firm that oversaw more than $140B at peak.
Bridgewater’s Flagship Macro Fund Lost 7.6% Last Year
Bridgewater Associates’s flagship hedge fund lost 7.6% last year, with all of the drop coming in the last two months of 2023.
Wells Fargo Analysts Project an Optimistic Forecast for Citigroup's Stock
Wells Fargo anticipates optimistic earnings forecast for Citigroup's stock, doubling in both its stock price and per-share earnings over the next thre
X Now Worth 71% Less Than When Musk Bought It, Fidelity Estimates
X, the platform formerly known as Twitter, is worth 71% less now than it was when Elon Musk bought it in late 2022, according to Fidelity.
