Bloomberg
NatWest CEO Alison Rose Steps Down in Farage Fallout
NatWest Group Plc Chief Executive Officer Alison Rose is stepping down and will leave by "mutual consent" after a row over closed accounts held by politician-turned-pundit Nigel Farage. Sofia Horta e Costa reports.
Bloomberg
Santander Tops 2Q Estimates on Spain Profit Boost
Santander Chief Financial Officer Jose Garcia Cantera discusses the bank's second-quarter results with Anna Edwards on "Bloomberg Markets Today."
Bloomberg
Deutsche Bank CFO Von Moltke on Earnings, Trading, Interest Rates
Deutsche Bank AG Chief Financial Officer James von Moltke discusses the lender's financial results, trading, interest rates and monetary policies, and strategy. The German lender weathered the trading slowdown better than analysts had...
Bloomberg
GOP Unveils Bill to Regulate Crypto
A group of House Republicans introduced legislation to establish rules for oversight of crypto markets in the wake of a recent court ruling that is viewed by some observers as favorable for the sector. Rep. Frank Lucas of Oklahoma is on...
Bloomberg
Strategist Looks to Balance Bullish Momentum, Red Flags
Victoria Fernandez, chief market strategist at Crossmark Global Investments, discusses remaining cautious amid "bullish momentum" in markets on "Bloomberg Surveillance."
Bloomberg
BofA Tops Second-Quarter Trading Revenue Expectations
Bank of America Corp. reported second-quarter results that saw trading revenue ex. DVA that beat analyst estimates at $4.39 billion as well as FICC trading revenue ex. DVA at $2.76 billion. Sonali Basak examines the numbers on "Bloomberg...
Bloomberg
KBW CEO Sees 'A Reset Underway' in Bank Earnings
Tom Michaud, chief executive officer at KBW, expects a "reset to profitability" in bank earnings after cutting estimates 20% for 2024. He speaks on "Bloomberg Surveillance."
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Goldman Sachs Downplays Expectations Ahead of Results
Goldman Sachs Group Inc. is looking to avoid a third straight quarter of disappointing investors on earnings day as executives have been actively downplaying expectations for results that will be disclosed next week. Sri Natarajan...
Bloomberg
RBC's Calvasina Sees 'Healthy Undercurrents' in Earnings
Lori Calvasina, US equity strategy head at RBC Capital Markets, says the market rally wants to broaden out as she sees most sectors of the S&P 500 in "recovery mode in terms of earnings sentiment." She speaks on "Bloomberg Surveillance."
Bloomberg
Goldman Sachs Cutting About 125 MDs; JPMorgan Cuts 40 Dealmakers
Wall Street firms are slashing more jobs. Goldman Sachs Group Inc. has started cutting managing directors across the globe, according to people familiar with the matter. And JPMorgan Chase & Co. is cutting about 40 investment bankers in...
Bloomberg
UBS to Face Fines Over Credit Suisse's Archegos Fiasco
UBS Group AG is facing hundreds of millions of dollars in regulatory fines over Credit Suisse Group AG's dealings with Archegos Capital, as the Swiss bank takes on its former rival's entire litigation portfolio. Russell Ward reports on...
Bloomberg
Goldman's Role in SVB Probed by DOJ, SEC Officials
Goldman Sachs Group Inc. is under scrutiny by Justice Department prosecutors and other US officials over its role in Silicon Valley Bank's attempt to raise funds as the lender careened into failure. Michael Moore has the details on...
Bloomberg
Pimco's Clarida: Fed Had Awkward But Hawkish Pause
Richard Clarida, global economic advisor at Pacific Investment Management Co. (Pimco) and former Federal Reserve vice chairman, thinks the Federal Reserve will probably get a rate hike in at the July meeting as he sees the central bank...
Bloomberg
ECB Calling In 500 Billion of Pandemic-Era Bank Loans
The European Central Bank is making lenders repay about half a trillion euros in cheap pandemic-era loans all at once in a test of the resilience of the continent's banking industry. Jana Randow reports on Bloomberg Television.
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Evercore's Emanuel Won't Label Rally as a Bull Market
Julian Emanuel, chief equity derivatives and quant strategist at Evercore ISI, explains why he's not considering the "cyclical rally" in the S&P 500 a bull market. He speaks with Lisa Abramowicz on "Bloomberg Surveillance."
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Pimco's Clarida Sees a 'Very High' Bar for 2023 Fed Rate Cuts
Richard Clarida, global economic advisor at Pacific Investment Management Co. (Pimco), says there could yet be a hike or two in the Federal Reserve interest rate cycle and explains why rate cuts may be a "2024 story." He speaks with...
Bloomberg
Fed Ultimately Has to Do More Than What's Priced, Dutta Says
Neil Dutta, head of US economic research at Renaissance Macro, expects more to come from the Federal Reserve as the US economy "is far more resilient than is appreciated," and sees markets being driven by earnings expectations. He speaks...
Bloomberg
LVMH's Arnault Plans to Visit China After Musk and Dimon
China has been rolling out the red carpet for global business leaders including JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon and Tesla Inc. CEO Elon Musk. Beijing wants to calm fears the country is becoming more hostile...
Bloomberg
Blackstone's Schwarzman Doesn't Foresee a US Default
Blackstone Inc. Chief Executive Officer Steve Schwarzman says, "I don't foresee a situation where there would be a default," as he discusses US debt ceiling negotiations during a conversation with Francine Lacqua at the Qatar Economic...
Bloomberg
Newedge's Dawson Preaches Patience for Traders With FOMO
Cameron Dawson, CIO at Newedge Wealth says markets have a high bar to sustainably get past the 4,200 or 4,300 level while urging investors to be patient when accessing the current market. She speaks with Jonathan Ferro on "Bloomberg The...
Bloomberg
Traders at Five Banks Colluded on UK Bonds, CMA Says
Five major banks colluded in chatrooms to swap sensitive information on UK bonds following the 2008 financial crisis, the Competition and Markets Authority said on Wednesday. Tom Metcalf reports on Bloomberg Television.
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Evercore's Emanuel Sees Alpha Extraction Time in Markets
Julian Emanuel, chief equity and quantitative strategist at Evercore ISI, says it is "extremely cost efficient" to hedge a portfolio in the current environment. He speaks on "Bloomberg Surveillance."
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CDS Panel: Credit Suisse AT1 Wipeout Won't Prompt Payout
The Credit Derivatives Determinations Committee, a panel tasked with overseeing the credit default swaps market, has ruled that the write down of Credit Suisse Group AG's Additional Tier 1 notes will not trigger an insurance payout. Adam...
Bloomberg
Warren Buffett in Contact With Biden Team on Banking Crisis
Billionaire investor Warren Buffett has been having multiple talks with senior officials in President Joe Biden's administration in recent days as the regional banking crisis unfolds, according to people familiar with the matter....