15 years on from The Big Short, securitisation is back March 7, 2025 The Big Short hit bookshelves 15 years ago, but the era of securitisation it depicts is far from over — in fact, it’s booming, says Tim Focas Fifteen years ago this month, Michael Lewis’s The Big Short hit bookshelves, exposing how Wall Street’s reckless financial engineering fuelled the 2008 financial crisis. It was a cautionary tale to [...]
Wall Street banks JP Morgan, Citi and Goldman Sachs report bumper profit January 15, 2025 Some of Wall Street’s biggest banks reported a surge in profit today on the back of a rebound in dealmaking and strengthening equity markets toward the end of last year. JPMorgan Chase, the US’s biggest lender, said profit had jumped 50 per cent to $14bn (£11.41bn) through the final quarter as its dealmakers and traders [...]
How American Express UK is looking to crack Gen Z October 24, 2024 American Express’s UK boss, Hannah Lewis, sits down with Morning Wire to talk breaking into a younger markets and shaking up its image. “Do you take Amex?” It’s a question that has slipped so far into the cultural lexicon there are even memes about it. Scroll through a dedicated Reddit page on American Express and [...]
US inflation to take centre stage after bumper jobs report October 6, 2024 Economists expect the headline rate to fall to 2.3 per cent from 2.5 per cent, which would leave inflation at its lowest level since February 2021.
Nvidia shares plunge: Are investors on the edge of ‘AI apathy’? September 4, 2024 Analysts are asking if we are at “peak Nvidia” or if the latest selloff is simply a healthy correction in an overheated market. Shares in Nvidia, the poster child for AI, plunged nearly 10 per cent on Tuesday, wiping out $279bn of value—the largest single-day loss ever recorded for a US stock. Since 19 August, [...]
Wall Street carnage continues as Nvidia leads US tech selloff September 4, 2024 A wave of panic selling hit Wall Street on Tuesday, with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all suffering their steepest daily percentage declines since early August. The carnage was widespread, with nine of the 11 sectors within the S&P 500 sinking into the red, led by sharp declines in technology, [...]
Investment banking boost for Bank of America and Morgan Stanley July 16, 2024 Like other US banks, Morgan Stanley has benefited from a rebound in dealmaking activity, which fell off a cliff last year due to the impact of higher interest rates and economic uncertainty.
Goldman Sachs reaps rewards from dealmaking rebound as profit doubles July 15, 2024 Other major US banks have already reported a substantial increase in revenue from the traditionally volatile sector.
Citi capitalises on investment banking rebound as Jane Fraser’s overhaul in focus July 12, 2024 Citi outperformed expectations in the second quarter as the bank was lifted by a strong investment banking performance and lower costs.
Dealmaking rebound helps JPMorgan to bumper profits July 12, 2024 JPMorgan benefited from a long anticipated recovery in dealmaking to deliver a big increase in profit compared to last year. The Wall Street giant reported net income of $18.1bn in the second quarter, up 25 per cent on the same period last year and ahead of analyst’s expectations. JPMorgan saw revenue rise by 22 per [...]