Banking

Cash-strapped China Evergrande Group said on Wednesday it plans to sell a 9.99 billion yuan ($1.5 billion) stake it owns in Shengjing Bank Co Ltd to a state-owned asset management company as it scrambles to raise funds.

A top Wall Street banker is being accused of bizarre double-dealing at a California tech firm where he serves as a board member.

Invesco Ltd. is in talks to merge with State Street Corp.’s asset-management business, people familiar with the matter said.

The World Bank canceled a prominent report rating the business environment of the world’s countries after an investigation concluded that senior bank management pressured staff to alter data affecting the ranking of China and other nations.

Fidelity Investments is lobbying the U.S. Securities and Exchange Commission (SEC) to approve the financial service company's Bitcoin exchange-traded fund (ETF).

After a record-breaking bull run for the U.S. stock market this year, many Wall Street analysts are starting to warn that investors could be in for a bumpy ride in the coming weeks and months.

Bank of America chairman and CEO Brian Moynihan said the changes "position the company with highly energized leaders who are committed to driving Responsible Growth through its second decade – delivering for our clients, communities and shareholders, and addressing major societal issues."

A top U.S. banking regulator fined Wells Fargo (WFC.N) $250 million and placed new restrictions on the bank's business after finding shortcomings in its earlier efforts to pay back customers it had previously harmed.

An increase in business activity and consumer spending pushes ECB to pause on emergency pandemic support.

Robert Kaplan, President of the Federal Reserve Bank of Dallas made multi-million-dollar plus stock trades in 2020, according to a financial disclosure provided by his bank. Other regional Fed leaders reported smaller financial holdings and transactions.

State Street's deal to buy BBH's investor services business includes accounting, fund administration, global markets, and technology services operations.

The Fed’s Jackson Hole meeting may be virtual this year but it is still one of the hotly anticipated wonk fests of the year.

Goldman Sachs, Credit Suisse, and Morgan Stanley are making adjustments to their return-to-the-office plans amid growing concerns about the spread of the delta variant.

The founder of OnlyFans blames big banks like JPMorgan Chase for forcing him to ban sexually explicit content — and says the company will “absolutely” bring back porn if Wall Street becomes more accepting.

As Wall Street scrambles to find safe ways to return its bankers to the office as the Delta variant surges, some financiers have found a scapegoat for the mess: the unvaccinated.

Two major U.S. money-transfer services have suspended payments into Afghanistan, and American banks are more closely scrutinizing transactions with Afghan counterparts, as they await clarity on whether U.S. sanctions on the Taliban apply across the nation now that the Islamist group is in control.

Charles Schwab employees are getting a pay bump as the firm’s core new assets reached a record $257 billion.

Former President Donald Trump slammed JPMorgan Chase CEO Jamie Dimon for his stance on doing business in China, arguing that he is “no patriot.”

Big Wall Street banks have started enforcing stricter mask and vaccine requirements for staff, sometimes communicating them behind the scenes, in an effort to combat coronavirus infections in their offices while avoiding a fierce national debate about individual rights, sources at the banks and consultants who work with them told Reuters.

The president of the Federal Reserve Bank of Boston added his voice Monday to a growing number of people, inside and outside the Fed, who say the central bank should soon begin to dial back its extraordinary aid for an economy that is strongly recovering from the pandemic recession.