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Though the firm beat in trading revenues from fixed income, currencies, and commodities, or FICC, which were up 20% from the same quarter a year ago, it was still down significantly for the first half of the year.
The bank’s CFO also provided a bit more information on those job cuts.
London is likely to lose its financial services passport, and investment banks that shift operations abroad quickly will benefit from a “first-mover advantage,” according to a confidential Deutsche Bank briefing seen by Business Insider.
The US government is reportedly going to ruin more than $91 billion of healthcare mergers. Investment behemoth Pimco just made 2 big hires. And there’s a new way to trade on a potential $550 billion industry.
Someone has been trying to offload their investment in disgraced hedge fund Visium.
A startup just raised over $330 million to help you pay off your college loans, and Peter Thiel just joined the board of a startup that’s secretly raised $50 million over the last three years.
New York’s tallest and fanciest apartment building will have its own private restaurant from a Michelin-starred chef.
Finally, a couple quit their high-paying corporate jobs to go on an epic 38,000-mile, 16-month road trip.
Here are the top Wall Street headlines at midday:
America’s ‘$13 trillion gorilla’ is getting even bigger — There seems to have been one constant source of hope for the US economy over the past year: the US consumer.
Republicans want to bring back Wall Street’s worst nightmare — The Republican Party wants to bring back one of the toughest regulations that Wall Street ever had to tackle.
A ‘great divide’ is causing bizarre behaviour from investors — Investors are bucking common wisdom in the face of an unprecedented divide in markets.
Bank of America’s big-money clients hate stocks, which is a great sign for the future — Bank of America’s big-money clients hate stocks, and they have been selling since the financial crisis.
We’ve been blaming America’s ‘new housing crisis’ on the wrong thing all along — Super low mortgage rates and a healthy jobs market have supported housing demand.
Dear America, this is how you became obsessed with guns — Over the past two decades, America’s understanding of who a gun owner is, and what they own, has changed.
Consumers have a troubling internet habit that is threatening digital media — Digital media has an attention problem.
7 things no man should ever wear in the summer — and what to wear instead — As far as dress codes go, summer is a tricky time.
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