Banks

In retrospect, monetary policy everywhere has been too expansionary: the head of the Swiss central bank

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In retrospect, monetary policy everywhere has been too expansionary: the head of the Swiss central bank

“We probably all underestimated the inflationary pressure in 2021,” Jordan told CNBC. Bloomberg/Contributor/Getty Images Monetary policy was “too expansionary” in previous years and the current surge in consumer prices has yet to be brought under control, Swiss National Bank President Thomas Jordan said on Friday. “Probably in hindsight, monetary policy everywhere was a bit too … Read more

The entire West is at risk if an aggressor is not challenged, says Dutch PM

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The entire West is at risk if an aggressor is not challenged, says Dutch PM

Europe must do more to support Ukraine, according to the Dutch Prime Minister. Bloomberg/Contributor/Getty Images Dutch Prime Minister Mark Rutte said on Thursday it was imperative that Europe continues to resist Russian aggression, saying the region must do “everything we can to help the Ukrainians”. “If an aggressor isn’t challenged and can go about his … Read more

UK Labor leader Starmer slams PM’s no-show at Davos, touts new ‘opposite OPEC’ alliance

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UK Labor leader Starmer slams PM’s no-show at Davos, touts new ‘opposite OPEC’ alliance

DAVOS, Switzerland – January 19, 2023: Keir Starmer, leader of the Labor Party, during a CNBC panel discussion on day three of the World Economic Forum (WEF). Stefan Wermuth/Bloomberg via Getty Images On Thursday, the leader of Britain’s opposition Labor Party, Keir Starmer, criticized Prime Minister Rishi Sunak for choosing not to attend the World … Read more

Novartis CEO says Covid will become endemic, calls for better pandemic preparedness

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Novartis CEO says Covid will become endemic, calls for better pandemic preparedness

Novartis said in August it planned to spin off its Sandoz generics unit to focus more on its patented prescription drugs. Bloomberg | Bloomberg | Getty Images The chief executive of Swiss pharmaceutical giant Novartis warned on Thursday that the coronavirus pandemic is likely to settle into an endemic phase and renewed calls for policymakers … Read more

Credit Suisse CEO says outflows have decreased ‘very significantly’ as review progresses

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Credit Suisse CEO says outflows have decreased ‘very significantly’ as review progresses

Switzerland’s second largest bank, Credit Suisse, is seen here next to a Swiss flag in downtown Geneva. Fabrice Cofrini | AFP | Getty Images Swiss credit is seeing a sharp reduction in customer outflows as the struggling Swiss lender moves forward with its major strategic overhaul, new CEO Ulrich Koerner told CNBC on Wednesday. In … Read more

Fed orders big banks to disclose how they are preparing for climate change risks

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Fed orders big banks to disclose how they are preparing for climate change risks

The Federal Reserve Building is seen ahead of the Federal Reserve Board signaling its intention to raise interest rates in March as it focuses on fighting inflation in Washington, D.C. January 26, 2022. Joshua Roberts | Reuters The six largest U.S. banks have until the end of July to show the impact climate change could … Read more

Goldman Sachs fourth quarter results are coming – what the street is waiting for

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Goldman Sachs fourth quarter results are coming – what the street is waiting for

David Solomon, chief executive of Goldman Sachs Group Inc., during a Bloomberg Television talk at the Goldman Sachs Financial Services Conference in New York, U.S., Tuesday, Dec. 6, 2022. Michael Nagle | Bloomberg | Getty Images Goldman Sachs is expected to release its fourth-quarter results before the opening bell on Tuesday. Here’s what Wall Street … Read more

How Goldman Sachs laid off 3,000 workers in one day

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How Goldman Sachs laid off 3,000 workers in one day

Fired bankers are complaining that Goldman Sachs used scare and underhand tactics as it staged this week’s bloodbath that claimed the lives of more than 3,000 employees, The Post has learned. Insiders claim the Wall Street giant – whose Wednesday layoffs were dubbed ‘David’s Demolition Day’ after CEO David Solomon – emailed calendar invites that … Read more

Bank of America leads the estimates. Revenue driven by higher tariffs.

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Bank of America leads the estimates. Revenue driven by higher tariffs.

Text size Bank of America publishes its latest quarterly results on Friday. The time of dreams Rising interest rates have pushed up Bank of America in fourth quarter revenue as the bank posted a slight increase in profits. Bank of America (ticker: BAC) reported revenue of $24.5 billion in the quarter, beating estimates of $24.2 … Read more