By , , KUALA LUMPUR/NEW YORK (Reuters) - Goldman Sachs will pay $3.9 billion to settle Malaysia’s criminal probe over the U.S. investment bank’s role in the multibillion-dollar 1MDB scandal, closing a key front in the multi-jurisdictional investigation that has hung over Goldman.Goldman Sachs shares rose 0.68% in New York morning trading on the Malaysia news and signals the U.S. Department of Justice could be near closing a similar probe.A spokesman for the Justice Department declined to comment.“We view this as positive as GS is closer to removing a key overhang for investors, and this...…By , , KUALA LUMPUR/NEW YORK (Reuters) - Goldman Sachs will pay $3.9 billion to settle Malaysia’s criminal probe over the U.S. investment bank’s role in the multibillion-dollar 1MDB scandal, closing a key front in the multi-jurisdictional investigation that has hung over Goldman.Goldman Sachs shares rose 0.68% in New York morning trading on the Malaysia news and signals the U.S. Department of Justice could be near closing a similar probe.A spokesman for the Justice Department declined to comment.“We view this as positive as GS is closer to removing a key overhang for investors, and this...WW…

By , , KUALA LUMPUR/NEW YORK (Reuters) - Goldman Sachs will pay $3.9 billion to settle Malaysia’s criminal probe over the U.S. investment bank’s role in the multibillion-dollar 1MDB scandal, closing a key front in the multi-jurisdictional investigation that has hung over Goldman.Goldman Sachs shares rose 0.68% in New York morning trading on the Malaysia news and signals the U.S. Department of Justice could be near closing a similar probe.A spokesman for the Justice Department declined to comment.“We view this as positive as GS is closer to removing a key overhang for investors, and this...…By , , KUALA LUMPUR/NEW YORK (Reuters) - Goldman Sachs will pay $3.9 billion to settle Malaysia’s criminal probe over the U.S. investment bank’s role in the multibillion-dollar 1MDB scandal, closing a key front in the multi-jurisdictional investigation that has hung over Goldman.Goldman Sachs shares rose 0.68% in New York morning trading on the Malaysia news and signals the U.S. Department of Justice could be near closing a similar probe.A spokesman for the Justice Department declined to comment.“We view this as positive as GS is closer to removing a key overhang for investors, and this...WW…

A J.P. Morgan logo is seen in New York City, U.S., January 10, 2017. REUTERS/Stephanie Keith/File PhotoRegister now for FREE unlimited access to Reuters.comApril 14 (Reuters) - JPMorgan Chase & Co's first-quarter results on Wednesday laid bare the challenge big banks face in this phase of the pandemic, where stimulus programs have left individuals and businesses in good financial shape but so flush with cash that few of them need loans.The biggest U.S. bank sailed past Wall Street expectations by reporting a nearly 400% increase in quarterly profit. The gains came from JPMorgan...…A J.P. Morgan logo is seen in New York City, U.S., January 10, 2017. REUTERS/Stephanie Keith/File PhotoRegister now for FREE unlimited access to Reuters.comApril 14 (Reuters) - JPMorgan Chase & Co's first-quarter results on Wednesday laid bare the challenge big banks face in this phase of the pandemic, where stimulus programs have left individuals and businesses in good financial shape but so flush with cash that few of them need loans.The biggest U.S. bank sailed past Wall Street expectations by reporting a nearly 400% increase in quarterly profit. The gains came from JPMorgan...WW…

By NEW YORK (Reuters) - A gauge of global stocks gained on Wednesday and the U.S. dollar slid after the Federal Reserve repeated its pledge to keep its target interest rate near zero for years to come.The yield on the benchmark U.S. Treasury note, whose surge has roiled markets in recent weeks, fell back after hitting its highest level since January 2020 ahead of the highly anticipated statement from the central bank.The Fed projected a rapid jump in U.S. economic growth and inflation this year as the COVID-19 crisis winds down.“In our view, the combination of still low yields, very slow...…By NEW YORK (Reuters) - A gauge of global stocks gained on Wednesday and the U.S. dollar slid after the Federal Reserve repeated its pledge to keep its target interest rate near zero for years to come.The yield on the benchmark U.S. Treasury note, whose surge has roiled markets in recent weeks, fell back after hitting its highest level since January 2020 ahead of the highly anticipated statement from the central bank.The Fed projected a rapid jump in U.S. economic growth and inflation this year as the COVID-19 crisis winds down.“In our view, the combination of still low yields, very slow...WW…

By The terms had appeared in some of the bank’s technology policies, standards and control procedures, as well in the programming code that runs some of its processes, one of the sources said.The phrases “master” and “slave” code or drive are used in some programming languages and computer hardware to describe one part of a device or process that controls another.“Blacklist” is used to describe items that are automatically denied, like a list of websites forbidden by a company’s cybersecurity division. “Whitelist” means the opposite - a list of items automatically approved.Floyd’s death has...…By The terms had appeared in some of the bank’s technology policies, standards and control procedures, as well in the programming code that runs some of its processes, one of the sources said.The phrases “master” and “slave” code or drive are used in some programming languages and computer hardware to describe one part of a device or process that controls another.“Blacklist” is used to describe items that are automatically denied, like a list of websites forbidden by a company’s cybersecurity division. “Whitelist” means the opposite - a list of items automatically approved.Floyd’s death has...WW…

By NEW YORK (Reuters) - Wall Street is likely to cut bonuses this year by 15-20% and make significant layoffs, according to a report published Tuesday by compensation consulting firm Johnson Associates Inc.The estimates in the report by Alan Johnson, closely watched by financial professionals, are less severe than Johnson projected earlier this year. But layoffs could be significant. Companies were forced to make quick decisions and cut red tape during the pandemic, and they have recognized fewer employees are needed to do certain jobs, Johnson said.“Technology has shown us that we don’t...…By NEW YORK (Reuters) - Wall Street is likely to cut bonuses this year by 15-20% and make significant layoffs, according to a report published Tuesday by compensation consulting firm Johnson Associates Inc.The estimates in the report by Alan Johnson, closely watched by financial professionals, are less severe than Johnson projected earlier this year. But layoffs could be significant. Companies were forced to make quick decisions and cut red tape during the pandemic, and they have recognized fewer employees are needed to do certain jobs, Johnson said.“Technology has shown us that we don’t...WW…

By From Tuesday, customers applying for a new mortgage will need a credit score of at least 700, and will be required to make a down payment equal to 20% of the home’s value.The change highlights how banks are quickly shifting gears to respond to the darkening U.S. economic outlook and stress in the housing market, after measures to contain the virus put 16 million people out of work and plunged the country into recession.“Due to the economic uncertainty, we are making temporary changes that will allow us to more closely focus on serving our existing customers,” Amy Bonitatibus, chief...…By From Tuesday, customers applying for a new mortgage will need a credit score of at least 700, and will be required to make a down payment equal to 20% of the home’s value.The change highlights how banks are quickly shifting gears to respond to the darkening U.S. economic outlook and stress in the housing market, after measures to contain the virus put 16 million people out of work and plunged the country into recession.“Due to the economic uncertainty, we are making temporary changes that will allow us to more closely focus on serving our existing customers,” Amy Bonitatibus, chief...WW…