 | | | | Morgan Stanley's profit slumped 30% on Thursday, falling short of analysts' estimates for the first time in nine quarters, as its investment banking business struggled to cope with a slump in global dealmaking. | | | | | | JPMorgan Chase & Co reported a bigger-than-expected 28% fall in quarterly profit and suspended share buybacks on Thursday, as America's largest bank set aside more money to cover potential losses in the face of growing risks of a recession. | | | | | | Wall Street's top investment banks that stand to lose lucrative fees from Elon Musk abandoning his $44 billion acquisition of Twitter Inc hope the start-ups backed by the world's richest person will make up for the lost business. | | | | | | Barclays is seeking a Chinese banking partner to set up an asset management joint venture in the country, two people with knowledge of the matter said, as part of British lender's plans to expand its footprint in the world's second-largest economy. | | | | | | British lenders expect the biggest fall in demand for mortgages since mid-2020 during the three months to the end of August, a further sign that the housing market is cooling in the face of surging inflation. | | | | | | Swiss bank Credit Suisse sees its future as an independent entity, Chairman Axel Lehmann told the Financial Times, amid speculation that the beleaguered group could be acquired or broken up. | | | | | | Hungary's central bank left the interest rate on its one-week deposit facility unchanged at 9.75% at a weekly tender on Thursday after last week's sharp increase to rein in the forint, central Europe's worst-performing currency. | | | | | | Swedish bank SEB said on Thursday its second-quarter net profit beat analyst expectations, as higher interest rates and increased demand from corporate customers offset negative impact from lacklustre stock markets. | | | | | | Britain's biggest domestic lender Lloyds Banking Group contacted 2 million of its 26 million customers in May after identifying they could need extra support to cope with soaring food and energy prices and rising debt costs. | | | | | | U.S.-based Morningstar has cut or relocated several hundreds of jobs at its China hub Shenzhen, and is moving operations to other countries, it said on Wednesday, as global firms struggle to comply with the country's new data regulatory landscape. | | | | | |
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