PNC Financial Services Group Inc., the second-largest U.S. regional bank, reported a 24 percent increase in first-quarter profit, beating analysts’ estimates, as the lender cut costs and revenue climbed 6 percent.
Citigroup Inc., Goldman Sachs Group Inc. and JPMorgan Chase & Co. were among at least 15 financial companies that received potentially market-moving Federal Reserve information 19 hours before the public in a release the central bank called a mistake.
Banks including Citigroup Inc. and Goldman Sachs Group Inc., along with congressional staff members and trade groups, received potentially market-moving Federal Reserve information 19 hours before the public in a release the central bank called accidental.
In little more than a decade, Promontory Financial Group LLC has evolved into a new kind of Washington player tapped by banks including Morgan Stanley and Citigroup Inc. to resolve regulatory disputes behind the scenes.
President Barack Obama sent a $3.8 trillion budget to Congress today calling for more tax revenue and slower growth for Social Security benefits in a political gamble intended to revive deficit-reduction talks.