Citigroup Becomes First Major U.S. Bank to Mandate Vaccines for Workers

Citigroup on Thursday told its employees it would require vaccination against Covid-19 as a condition of employment in the United States, making it the first major bank to grant such a mandate. “It has become very clear that Covid-19 is not going away anytime soon,” said Sara Wechter, the company’s head of human resources. a …

European Central Bank Keeps Its Policy Stable

As major economies grapple with higher-than-expected inflation and ongoing supply chain disruptions, European Central Bank He kept his policy stance steady on Thursday. It continued its pandemic-era bond-buying program at a slightly slower pace than earlier this year and kept interest rates steady. policy makers last month. slowed down the pace of purchase from around …

European Central Bank Keeps Its Policy Stable

As major economies grapple with higher-than-expected inflation and ongoing supply chain disruptions, European Central Bank He kept his policy stance steady on Thursday. It continued its pandemic-era bond-buying program at a slightly slower pace than earlier this year and kept interest rates steady. policy makers last month. slowed down the pace of purchase from around …

Bank of America, Wells Fargo and Other Banks Report Strong Earnings

Four of the nation’s largest banks posted quarterly earnings that beat expectations on Thursday, continuing a strong earnings season for the financial sector. Solid reports from four banks (Bank of America, Wells Fargo, Morgan Stanley and Citigroup) highlighted their optimism about the economic recovery from the pandemic, even amid risks from the Delta variant of …

Bank of America and Wells Fargo beat earnings estimates

Four of the country’s biggest banks are posting their financial results on Thursday, a day later. JPMorgan Chase made a solid start to the earnings season. Bank of America beat analysts’ expectations, reporting a profit of $7.7 billion, or 85 cents per share, for the quarter ended September. The bank’s dealmakers received a record $654 …

Bank Groups Unite Against Biden’s Choice for Key Regulatory Post

White House officials saw this this summer when they began looking for new candidates to lead one of the banking industry’s top regulators. Saule Omarova as a compromise between the competing demands of moderate and progressive Democrats. ideological divisions are the other two candidates She would lead the Currency Control Office, but Ms. Omarova seemed …

Evergrande is selling its $1.5 billion stake in a bank to help pay off debts.

Evergrande, the embattled Chinese real estate developer said Wednesday it has sold its stake in Shengjing Bank for about $1.5 billion, and the proceeds go to pay off its debts. A Chinese state-owned enterprise is buying a stake worth about 20 percent of the commercial bank. The move comes as Evergrande, which has outstanding bills …

Biden’s Election for Bank Regulator Worries Banks Are Too Powerful

The White House announced on Thursday that President Biden has chosen Cornell Law School professor Saule Omarova to head the Office of the Currency Supervisor, the regulator that oversees the largest US banks. If approved, Ms. Omarova, now growing up in Kazakhstan, will be the first woman and the first non-white person to serve as …

The investigation found that World Bank officials, including the current IMF chief, were struggling

WASHINGTON – One investigation into the manipulation of an annual World Bank report He found that Kristalina Georgieva, the former CEO of the bank that now runs the International Monetary Fund, directed staff to change data to appease China. The findings of the investigation, conducted by the WilmerHale law firm at the request of the …

Bank of America Renews Leadership, but CEO Plans to Stay Around

Bank of America on Friday made sweeping changes in the company’s leadership, raising several executives, including three women, to senior positions and ensuring that CEO Brian Moynihan will remain head of the nation’s second-largest bank for many years. Come. Company promotion Alastair Borthwick, current head of commercial banking in New York, has been appointed director …