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.
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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.
Settlement Reached for LPL to Pay Finra Claim - $6 Million
LPL Financial has reached a settlement agreement to the tune of over $6 million in response to allegations by Financial Industry Regulatory Authority.
Morgan Stanley's Straight-Talking New CEO Ted Pick Taking Charge
When Ted Pick takes over as new CEO of Morgan Stanley next week, the three decade bank veteran will help him steer firm through a dealmaking slump.
