Banking

Cirque du Soleil Ok'd an offer to its lenders in a deal that forgives roughly $825 million of Cirque’s $1.2 billion in outstanding loans in exchange for ownership, while leaving its current owners — a group led by billionaire private titans like David Bonderman — empty-handed.

Morgan Stanley posted a 45% rise in quarterly profit on Thursday, driven by strong trading gains as the coronavirus pandemic whipsawed global financial markets since March.

The New York Times on Monday named multiple Deutsche Bank executives who were responsible for the bank’s relationship with Jeffrey Epstein, the convicted sexual offender and financier who was found dead by apparent suicide last August.

China’s banks should brace for a big jump in bad loans due to coronavirus-induced economic pain, the financial regulator said on Saturday, noting the deterioration of asset quality at some small and mid-sized financial institutions was accelerating.

The Paycheck Protection Program helped small businesses avert mass layoffs and kept small businesses afloat during the coronavirus pandemic. It may also be a revenue windfall for banks.

The bank, which is said to have had a major role in Epstein’s financial affairs, previously said it regretted its ties to the deceased, accused sex-trafficker.

More than 400 brands have pulled advertising on Facebook in response to the “Stop Hate for Profit” campaign.

Twitter and JPMorgan are dropping “racial” coding terms, joining the ranks of Microsoft’s GitHub and Google.

Citigroup Inc said on Wednesday it was delaying plans for  U.S. employees returning to offices as COVID-19 cases rise in several states.

Netflix commitment is more of an investment than a donation

The Supreme Court on Monday ordered changes to a government consumer-finance watchdog created in the wake of the 2008 financial crisis.

Small businesses, and especially black-owned small businesses, are still in danger of closing permanently, the chairman of the Milken Foundation said.

Although millions of Americans are out of work and behind on their debts, the missed payments often aren't reflected in their credit scores, creating a credit blind spot.

Chase Bank acknowledged reports of some customers seeing incorrect balances in their checking accounts and said the problem has now been resolved.

About 20 percent of hotels across the U.S. use commercial mortgage-backed securities loans, but many hoteliers have faced many obstacles in navigating relief and worry their business may not survive.

The two rules unveiled by banking regulators will make life easier for large banks with complex trading and investment portfolios

SoftBank CEO Masayoshi Son's resignation as the director of e-commerce giant Alibaba Group is effective Thursday

Unlike big, “money-center banks” headquartered in New York City such as JPMorgan Chase, Citigroup and in Wells’ case, San Francisco, community banks are locally owned and operated. You won't see their branch offices on every street corner and they don't conduct glitzy advertising campaigns.

The Fed’s latest report suggests that Americans socked away money during the outbreak of the virus and subsequent lockdown instead of spending it.

Fed Vice Chair Randal Quarles said in a speech that the Fed is testing banks against three possible economic trajectories of varying severity to see how they perform