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“Citi to overhaul London team linked to ‘flash crash’: report” Jane Fraser’s Citigroup is overhauling the leadership of one of the teams linked to a “flash crash” that sent European stock markets tumbling this month, three sources told Reuters. Citi is looking to name a new Head of Forward Trading in its Delta One operations based at…
“Day traders’ profits from ‘meme stock’ frenzy have been erased: report” Reddit-obsessed retail stock traders have lost all of their gains since the the pandemic began as the government stimulus that kept markets afloat comes to a screeching halt, according to a report. Retail traders have been hit the hardest by the recent downturn in…
“Goldman Sachs retreating from SPACs over regulatory threat” David Solomon’s Goldman Sachs is reducing its involvement with blank-check companies, a spokesperson for the bank said on Monday, as US regulators continue to clamp down on what was one of the hottest trends on Wall Street in recent years. The boom in the special purpose acquisition company (SPACs)…
“Elon Musk aims to boost Twitter’s revenue to $26.4B: report” Elon Musk is aiming to increase Twitter’s annual revenue to $26.4 billion by 2028, up from $5 billion last year, the New York Times reported on Friday, citing a pitch deck presented by the world’s richest man to investors. Advertising will fall to 45% of total…
“Dow falls 500 points as jobs report fuels rate-hike worries” Another selloff hit Wall Street on Friday as robust US jobs numbers stoked investor fears that the Federal Reserve will impose bigger rate hikes in the coming months to tame surging inflation. The latest jobs report indicated that employers added 428,000 people to their payrolls…
“Elon Musk got a huge tax break selling $8.5B in Tesla shares: report” Elon Musk pocketed $8.5 billion in cash when he sold off 9.6 million shares of his electric car maker, Tesla, last week in order to help finance his $44 billion takeover of Twitter. But the fact that Tesla shares were worth less…
“Wall Street bonuses could plummet as much as 40 percent this year” Last year was an unprecedented bonanza for Wall Street bankers — and it was fun while it lasted. Bonuses for bankers at big financial firms — which hit record highs in 2021 amid a rash of big deals and a dire talent shortage…
“Dow soars over 900 points as investors cheer Fed’s rate hike” The Dow jumped more than 900 points after staging a late rally on Wednesday after the Federal Reserve announced its widely expected interest-rate hike, the biggest rate increase since 2000. Stocks initially see-sawed after the announcement. The indexes then steadied and rose more than…
“Hedge fund exec got subordinate pregnant, lied about incident: suit” A top executive at a Wall Street hedge fund was fired after he impregnated a low-level female subordinate and then lied about it — and also exposed his genitals to other workers, according to a bombshell lawsuit. William Christian, who was chief operating officer at…
“Federal Reserve hikes rates by half point to tame inflation” The Federal Reserve on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years, and said it would begin trimming its bond holdings next month as a further step in the battle to lower inflation. The US central bank set…