Exclusive: Morgan Stanley to slash 2022 banker bonuses in Asia by up to half
Morgan Stanley plans to slash investment bankers’ annual bonuses by as much as 50% in Asia, said two people with direct knowledge of the matter, as the Wall Street firm reins in costs to tackle tough market conditions that have hit its revenue.
Bank data shows U.S. consumer financial health holds up amid rising inflation
Americans’ financial health held up well in the second quarter even as inflation sent gas and grocery bills higher and ate into savings for the first time since the pandemic, U.S. bank executives said.
Big U.S. banks see loan growth slowing as outlook for demand, economy darkens
U.S. bank executives said they’re optimistic on loan growth as demand for borrowing from retail and business customers bounced back in the second quarter from the lows of the pandemic, but warned demand could weaken later this year if the worsening economic outlook starts to hurt consumer confidence.
JPMorgan raises 2022 interest income outlook ahead of investor conference
JPMorgan Chase & Co (JPM.N) presented a more optimistic profit forecast on Monday as it opened an investor conference to relieve worries that the biggest U.S. bank by assets might be starting to lose its edge.
Bank of America raises hourly minimum wage to $22
Bank of America Corp (BAC.N) said it was raising its U.S. minimum hourly wage to $22 on Monday, a step closer to its promise of paying workers $25 an hour by 2025.
