 | | | | Goldman Sachs Group Inc reported a 43% drop in profit but beat Wall Street expectations on Friday, as strong performances in its wealth management and trading businesses partly offset a slump in equity underwriting as stock market listings dried up. | | | | | | The European Central Bank kept policy unchanged on Thursday, signalling a steady reduction of stimulus over the coming months as inflation remains uncomfortably high. | | | | | | Europe's single currency and government bond yields across the region fell on Thursday after the European Central Bank signalled a steady reduction of stimulus over the coming months but refrained from switching to a more hawkish stance. | | | | | | Citigroup Inc posted a 46% plunge in first-quarter profit on Thursday as it took hits from provisions for Russia-related losses, a slump in underwriting fees and higher expenses. | | | | | | Morgan Stanley reported a smaller-than-expected 11% drop in first-quarter profit on Thursday as a near doubling in advisory fees from M&As helped cushion the blow from a slump in capital market activity. | | | | | | Five insurers including Aviva and Lloyds Banking Group have joined a programme set up by Britain's FloodRe to give homeowners extra funds to build up resilience to floods, FloodRe said on Thursday. | | | | | | The euro's share of world currency reserves has been depressed for years as negative euro zone interest rates and bond yields have spurred huge bond outflows. But these dynamics are reversing, and the euro is catching the eye of reserve managers again. | | | | | | South Korea's central bank raised its benchmark rate to the highest since August 2019 on Thursday in a surprise move as it ramped up the fight against rampant inflation, which threatens its economic recovery. | | | | | | The European Central Bank kept its policy stance broadly unchanged on Thursday, sticking to plans to slowly unwind extraordinary stimulus as worries over record-high inflation trump concerns about a war-related recession. | | | | | | TD Bank Group will offer eligible employees a 3% increase to their base pay or a one-time cash reward effective July 1, Chief Executive Officer Bharat Masrani said in an internal memo on Wednesday. | | | | | |
