Babylon Health Hires Wall Street Banks in Last-Ditch Effort to Save Company
Babylon Health has reached out to Bank of America and their long-term advisor Citigroup in an effort to save the company, with Deloitte also providing guidance. This comes after the healthcare provider announced that it would be shutting its U.S. business, laying off hundreds...
Citigroup Lifts S&P 500 Year-End Target
Major U.S. lender and investment banking company Citigroup lifted its S&P year-end target by 15% as the probability of an economic recession continues to decline amid cooling inflation.
The bank is forecasting the S&P 500 to end on 4,600 points at the end of 2023;...
Major U.S. Banks Showed Largest Q2 Deposit Declines
U.S. bank deposits declined in the second quarter, with major banks unexpectedly suffering the largest dropoffs. The four largest U.S. banks by assets: Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, lost $262 billion in deposits compared to the previous year. In contrast,...
Stocks End Week Lower As Banks Disappoint
U.S. stocks ended slightly lower on Friday as banks and financial institutions disappointed following a recent round of quarterly earnings reports. Still, each major U.S. index posted weekly gains despite Friday's fall.
The S&P 500 declined 0.1% on Friday as its banks' index fell 0.9%....
Bank Results Serve As Warning Sign For Wall Street
A tough week ahead is expected for Wall Street as banks reported mixed earnings results over the past week.
Citigroup CEO Jane Fraser commented that "the long-awaited rebound in investment banking has yet to materialize," following the release of her bank's disappointing second-quarter results....
Bank Of America, Citigroup, And Wells Fargo & Co. Call For Reduced Fossil Fuel Financing
Bank of America, Citigroup and Wells Fargo & Co. are encouraging their investors to wind down fossil fuel investments. While there is no binding policy in place, the three major U.S. banks have urged investors to consider their call for policies to phase out...