NEW YORK (Reuters) – The Financial Industry Regulatory Authority, Wall Street’s self-funded watchdog, fined Goldman Sachs Inc $3 million on Tuesday for mistakenly marking some of its stock orders as “long” instead of “short”, and for trade reporting violations. From October 2015 to April 2018, Goldman mismarked around 60 million short sale orders totaling more…
By Tatiana Bautzer NEW YORK (Reuters) -Wall Street bankers face an increasingly gloomy job market after last month’s banking crisis worsened an already bleak outlook for pay and staffing. The failure of two U.S. banks – Silicon Valley Bank and Signature Bank – shook confidence in the industry and prompted government intervention to protect the…
By Medha Singh and Lisa Pauline Mattackal (Reuters) – Even as bitcoin flies high, investors are keeping their options open, judging by a record race to derivatives. Open interest for bitcoin options and futures has spiked over the past month as fear has stalked global banking, hitting an all-time high of 433,540 contracts on March…
WASHINGTON (Reuters) – The Internal Revenue Service will unveil its long-awaited 10-year spending plan for $80 billion in new funding to beef up enforcement and taxpayer services, U.S. Treasury Secretary Janet Yellen said on Tuesday, promising major investments in new technology and services. In prepared remarks at the swearing-in ceremony of new IRS Commissioner Danny…
By Mark Miller (Reuters) – The forecast for Social Security got a bit more cloudy last week, with the program’s trustees projecting that the critical retirement program will run short of cash one year earlier than had been forecast last year. But if the headlines stemming from the annual report of the Social Security trustees…
By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON/NEW YORK/HONG KONG (Reuters) – March’s market turmoil has forced many macro and trend-following hedge funds to cut bait on bad portfolio bets and caused at least one bank that lends to them to scrutinize its clients’ exposure, according to sources and preliminary data reviewed by Reuters….
By Lisa Pauline Mattackal (Reuters) – March recorded the worst U.S. bank failures since the 2008 crisis, but that did not stop some investors from snapping up battered financial stocks to bolster their bets on the sector’s long-term health, fund-flow data showed. Exchange-traded funds tracking U.S. regional banks saw their strongest net inflows in months,…
(Reuters) – U.S. short seller Hindenburg Research said on Friday Block Inc’s response to its allegations confirmed it had reported inflated user counts on its Cash App to investors for years. The payments firm led by Twitter co-founder Jack Dorsey said on Thursday that 44 million of its more than 51 million monthly active customers…
(Reuters) -Shares of companies tied to former U.S. President Donald Trump gained in early trading on Friday, drawing interest from retail investors after the ex-president was indicted in a historic first. Trump, the frontrunner to be Republican nominee in 2024, was indicted by a Manhattan grand jury after an investigation into hush money paid to…
By Lananh Nguyen and Jaiveer Shekhawat (Reuters) -Citigroup Inc hired Andy Sieg to lead its global wealth arm, the lender said on Thursday, from Bank of America Corp, where he led the Merrill Wealth Management unit. Sieg has “a track record of driving growth” and “deep experience in the U.S.,” where Citi aims to grow,…
