Investment banking and brokerage

July 15, 2020 - 11:42 am
NEW YORK (AP) — Investment bank Goldman Sachs posted a massive 41% rise in revenues in the second quarter, the bank said Wednesday, helped by a blowout performance by the bank’s trading desks. The New York-based bank had second quarter revenues of $13.3 billion, which is up from $9.46 billion in...
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FILE - In this Oct. 14, 2019 file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building, in Boston. Bank of America Corp. reports financial results Wednesday, April 15, 2020. (AP Photo/Steven Senne, File)
KNSS News
April 15, 2020 - 11:11 am
NEW YORK (AP) — The major banks in the U.S. are anticipating a flood of loan defaults as households and business customers take a big financial hit from the coronavirus pandemic. JPMorgan Chase, Wells Fargo, Bank of America, Citigroup and Goldman Sachs raised the funds set aside for bad loans by...
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Michael Conlon, center, works with fellow traders on the floor of the New York Stock Exchange, Thursday, March 12, 2020. Stocks are sharply lower after resuming trading as traders fear that not enough is being done to contain the economic damage from the coronavirus pandemic. (AP Photo/Richard Drew)
KNSS News
March 12, 2020 - 2:49 pm
NEW YORK (AP) — The Latest on the action in the financial markets (all times local): 3:45 p.m. The severity of Wall Street’s rout this week may echo the swoons for stocks at the height of the 2008 financial crisis, but that’s where the parallels end. Back then, investors were rattled as Lehman...
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FILE - This April 24, 2014, file photo shows the logo of Swiss bank UBS and the Swiss flag in Zurich, Switzerland. The multinational investment bank has ended support for offshore drilling in the Arctic amid efforts to tackle climate change, a move that could affect future funding for oil and gas projects in Alaska, the Anchorage Daily News reported Friday, March 6, 2020. (Steffen Schmidt/Keystone via AP, File)
March 07, 2020 - 10:52 pm
KENAI, Alaska (AP) — A multinational investment bank has ended support for offshore drilling in the Arctic amid efforts to tackle climate change, a move that could affect future funding for oil and gas projects in Alaska, a newspaper said. Switzerland-based UBS Bank joined several other investment...
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FILE - In this Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley is buying online brokerage E-Trade in an all-stock deal valued at about $13 billion. In the all-stock deal announced Thursday, Feb. 20, 2020, E*Trade shareholders will receive 1.0432 Morgan Stanley shares for each share they own. (AP Photo/Mark Lennihan, File)
KNSS News
February 20, 2020 - 3:35 pm
NEW YORK (AP) — Morgan Stanley, the investment bank for millionaires, big business and megamergers, is buying E-Trade Financial, the online brokerage that encouraged waves of regular investors to get into the market with ads featuring its talking spokesbaby. The roughly $13 billion, all-stock deal...
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FILE - In this Tuesday, Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley reports financial results Thursday, Jan. 16, 2020. (AP Photo/Mark Lennihan, File)
January 16, 2020 - 7:52 am
NEW YORK (AP) — Morgan Stanley's fourth-quarter profits jumped 46% from a year earlier, the company said Thursday, helped by a massive boost from the bank's trading desks. The investment bank said it earned a profit of $2.24 billion, or $1.30 per share, compared with a profit of $1.53 billion, or...
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A Peugeot logo pictured on a car in Bayonne, southwestern France, Thursday, Oct.31, 2019. The boards of Fiat Chrysler and PSA Peugeot announced Thursday fast-moving plans to merge the two companies creating the world's fourth-largest automaker with enough scale to confront "the new era in mobility". (AP Photo/Bob Edme)
KNSS News
October 31, 2019 - 11:07 am
MILAN (AP) — Fiat Chrysler and France's PSA Peugeot said Thursday they have agreed to merge to create the world's fourth-largest automaker with enough scale to confront big shifts in the industry, including a race to develop electric cars and driverless technologies. Italian-American Fiat Chrysler...
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FILE - In this Jan. 16, 2018 file photo, Adam Neumann, co-founder and CEO of WeWork, attends the opening bell ceremony at Nasdaq, in New York. The Wall Street Journal, citing sources it did not identify, reported Tuesday, Oct. 22, 2019, Neumann will walk away with close to $2 billion from Japan’s SoftBank Group if he severs ties with the company. (AP Photo/Mark Lennihan, File)
October 22, 2019 - 8:43 am
NEW YORK (AP) — The Wall Street Journal is reporting that WeWork is being taken over by the Japanese investment bank that invested billions in the company before its botched effort to go public. The shared-office space company is facing a severe cash crunch with its valuation, what investors are...
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September 23, 2019 - 3:23 pm
NEW YORK (AP) — An investment banker whose insider trading conviction was overturned by an appeals court was convicted again at a second trial Monday by a jury that reached a speedy verdict. The Yale-educated Sean Stewart, 38, of North Merrick, was convicted of charges including securities fraud...
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In this Aug. 9, 2019, photo, President Donald Trump talks to reporters on the South Lawn of the White House in Washington. Trump is showcasing the growing effort to capitalize on western Pennsylvania’s natural gas deposits by turning gas into plastics. (AP Photo/Evan Vucci)
August 20, 2019 - 10:56 am
WASHINGTON (AP) — The "fundamentals" of the U.S. economy are solid, the White House asserted, invoking an ill-fated political declaration of a decade ago amid mounting concern that a recession could imperil President Donald Trump's reelection. Exhibiting no such concern, senior adviser Kellyanne...
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