Societe Generale is set to sell its equipment financing unit to rival Groupe BPCE as the French lender looks to simplify its business under new chief executive Slawomir Krupa. The bank said that it has signed a memorandum of understanding to sell Societe Generale Equipment Finance to Groupe BPCE, with the sale price agreed at €1.1bn, it said
Greg Guyett oversees a broad range of businesses as the chief executive of HSBC’s global banking and markets unit, a role he took on in October 2022, just before rivals started making deep job cuts. But he’s looking to grow most of these businesses including investment banking, securities services and transaction banking, he told Financial News in a wide-ranging interview.
Congress created the program in 2007, but rigid rules and missteps by student loan servicers left many borrowers unable to get the cancellation they were promised. The Biden administration loosened some of the rules and retroactively gave many borrowers credit toward their 10 years of payments. Through those actions, the Biden administration has canceled loans
Barclays is preparing a fresh wave of job cuts that will affect hundreds of employees within its investment bank, according to reports. The UK lender, which unveiled a strategy revamp in February in a bid to boost returns and cut costs, will strip out hundreds of roles across investment banking, research and markets, Bloomberg reported.
Federal investigators in Treasury’s Financial Crimes Enforcement Network (FinCEN) instructed banks to comb through records to look for ‘extremists’ A letter from Treasury Department was sent to Senator Tim Scott on Friday which states ‘Exchange events’ began ‘shortly after January 6’ The government was ‘watching’ Trump supporters and Americans who went to Cabela’s, Dick’s Sporting
Published 1 minute earlier on Ethereum’s latest major upgrade Dencun went live on the Sepolia test network on Tuesday, leaving just one more testnet before its anticipated “proto-danksharding” feature comes to fruition. Dencun deployment on Sepolia commenced at 22:51 UTC Tuesday and was finalized soon after. “Blobs are now flowing in Sepolia,” Parithosh Jayanthi, DevOps
Bank of America has kicked off a closely-watched earnings season for Wall Street’s biggest banks with an overall uptick in investment banking fees. Total investment banking fees at the lender rose 7% to $1.1bn in the final quarter of 2023 compared to the same period last year, holding third place in the league tables. However, the outlook
People • December 22, 2023, 3:33AM EST Published 1 minute earlier on Elon Musk said that he no longer thinks that much about cryptocurrency. “I don’t spend a lot of time thinking about cryptocurrency — hardly any at all,” Musk said in an X space conversation with Ark Invest CEO Cathie Wood on Dec. 21,