Citigroup Inc. and JPMorgan Chase & Co. are bracing investors for a fourth straight drop in first- quarter trading, a period of the year when the largest investment banks typically earn the most from that business.
U.S. stocks rose to a record, capping the best month since October, as improving consumer confidence and speculation that the Federal Reserve will support the economy offset concern over escalating conflict in Ukraine.
J.C. Penney Co. surged 25 percent after forecasting an increase in annual revenue and margin expansion, prompting Chief Executive Officer Mike Ullman to predict its turnaround will be completed this year.
Kevin Li, head of Canadian investment banking at Canadian Imperial Bank of Commerce, was promoted to lead its European business, according to Vlaad & Co., a Toronto-based financial-services recruiting firm.
The Federal Reserve approved new standards for foreign banks that will require the biggest to hold more capital in the U.S., joining other countries in erecting walls around domestic financial systems.
Netflix Inc.’s effort to secure a place for its video-subscription service on Time Warner Cable Inc. set-top boxes is on hold now that the cable operator is being sold, people with knowledge of the matter said.
Sterne Agee & Leach Inc., the Alabama-based brokerage, hired five credit salespeople from Citigroup Inc. after the third-largest U.S. bank stopped paying them commission on what they earned for the firm.