Wall Street has experienced one of its most profitable quarters, according to earnings reports from major banks on Tuesday.

JPMorgan’s net income soared 50% to more than $14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year.

Richard Parsons, one of corporate America’s most prominent Black executives who held top posts at Time Warner and Citigroup, has died.

Signs of consumers slowing down spending and falling behind on their bills weighed down shares of the big banks on Friday.

A pair of government regulators slapped Citigroup with a $135.6 million fine on Wednesday, saying the bank has made insufficient progress in resolving longstanding internal control and risk issues.

More women are reaching the top ranks of the corporate suite of S&P 500 companies, but their numbers are still miniscule compared to their male counterparts.

Big banks warned of an uncertain year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere.

A British financial trader described as the ringleader in the manipulation of a key interest rate before and after the global financial crisis has lost his appeal to have his conviction quashed.

Three of the nation’s biggest banks say their profits fell last quarter.

Asian shares are mostly higher after Wall Street drifted to a mixed close.

A federal regulator says Citigroup intentionally discriminated against Armenian Americans when they applied for credit cards.

Some of the companies that formed what is now Citigroup likely benefitted financially from slavery in the 1800’s, the financial giant acknowledged Thursday, an admission that comes at a time when numerous institutions are re-examining their historic roots and the roles they played in slavery in the U.S. In research conducted last year, Citi found that none of its predecessor companies directly purchased, sold, or held slaves.

The nation’s largest banks appear to be weathering the current turmoil in their industry just fine.

Bank of America’s profits fell by 8% in the third quarter as the bank set aside cash to cover potential loan losses.

The outlook of the U.S. economy from Wall Street’s biggest banks is getting gloomier and gloomier, after the industry spent the past year and a half trumpeting that the U.S. economy is strong and the U.S. consumer resilient.

The CEOs of the nation’s biggest banks were in for a second day of tough questioning from lawmakers Thursday, as Americans face inflation not seen since the early 1980s and a midterm election is only weeks away.

Stocks closed higher Wall Street Friday following some encouraging economic data on consumer sentiment and inflation expectations.

Russia's debt drama is far from over.

Four big banks reported noticeable declines in their first quarter profits on Thursday, as the volatile markets and war in Ukraine caused dealmaking to dry up and a slowdown in the housing market caused the mortgage market to slow.

Yelp will cover the travel expenses of employees who must travel out of state for abortions, joining the ranks of major employers trying to help workers affected by restrictions in Texas and other states.

Three of the nation’s biggest banks reported blowout profits for 2021 on Friday, helped by the improving economy and consumers and businesses willing to spend and take on loans.

Mexican President Andrés Manuel López Obrador says he hopes Mexican investors buy the local subsidiary of Citigroup.

Four of the largest U.S. banks said their profits grew by double-digits last quarter, as a healthier U.S. economy has allowed banks to have fewer bad loans and charge-offs.

The chief executives of the nation’s largest banks have been back in front of Congress, facing questions ranging from bitcoin to their efforts to keep Americans in their homes after government aid to pandemic-hit mortgage holders expires this summer.

Citigroup says profits more than tripled in the first quarter, helped by the release of billions of dollars from its loan-loss reserves.

(AP Photo/Mark Lennihan)CHARLOTTE, N.C. – The pandemic and recession aren’t over by a long shot, but banks are feeling optimistic enough to start taking potentially “bad” loans off their books and move them back into the “good” pile. Citigroup had a similar story, releasing $1.5 billion of its loan-loss reserves that it had set aside earlier last year. Still, those amounts are just a fraction of the tens of billions of dollars into their so-called loan-loss reserves to cover potentially bad loans in the first months of the pandemic. In releasing funds from loan-loss reserves, the banks cited the improvement in the economy. JPMorgan still has more than $30 billion tied up in its loan-loss reserves, and banks like Citi and Wells have similar figures on their balance sheets.

Businesses are rethinking political contributions in the wake of the deadly Capitol siege by President Donald Trumps supporters on Wednesday, Jan. 6, 2021. Citigroup confirmed Sunday, Jan. 10, 2021, that it is pausing all federal political donations for the first three months of the year. Outside conservative groups, including those affiliated with Republican leadership, were the ones who dropped the lion's share of money that helped him oust former Democratic Sen. Claire McCaskill. Leading business groups such as the National Association of Manufacturers, the Business Roundtable and the U.S. Chamber of Commerce all condemned the insurrection. “There was no big public push or pressure to get Marriott and others to announce they would no longer make campaign contributions.

The New York-based bank said Tuesday that third-quarter net income fell to $3.23 billion from $4.91 billion in the year ago quarter. That result topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share. Its revenue net of interest expense was $17.3 billion, slightly better than Wall Street forecasts although down 7% from a year ago. Citigroup's provision for credit losses was $2.26 billion in the third quarter compared to $7.9 billion in the second quarter.

Shares were mostly lower in Asia on Tuesday as investors awaited the release of Chinese trade data. (AP Photo/Lee Jin-man)TOKYO – Shares were mostly lower in Asia on Tuesday as investors awaited the release of Chinese trade data. Tokyo's Nikkei 225 index edged 0.1% lower to 23,525.64, while the Shanghai Composite index shed 0.6% to 3,339.76. Wall Street extended its gains Monday from last week's rally, the market's best in three months. The S&P 500 rose 1.6% to 3,534.22, with Big Tech stocks, including Apple and Microsoft, powering much of the gains.

CHARLOTTE, N.C. – JPMorgan Chase said Thursday it will extend billions in loans to Black and Latino homebuyers and small business owners in an expanded effort toward fixing what the bank calls “systemic racism” in the country’s economic system. “Systemic racism is a tragic part of America’s history,” said JPMorgan Chase CEO Jamie Dimon in a statement. Citigroup announced last month it is committing $1 billion toward closing “the racial wealth gap” in the United States, including $550 million toward homeownership programs for racial minorities. He noted that there’s a 30% gap between Black and white homeownership, amounting to about 4.5 million households. JPMorgan was one of 27 major New York-based companies that joined a program to recruit 100,000 workers from the city's low-income, predominately Black, Latino and Asian communities over the next 10 years.

NEW YORK Citigroup announced that Jane Fraser would succeed Michael Corbat as the bank's next chief executive, making Fraser the first woman to ever lead a Wall Street bank. Fraser is currently head of Citi's global consumer banking division, a major part of the bank that includes checking and savings accounts but also Citi's massive credit card business. Fraser will be the first woman to lead one of Wall Street's big six banks. JPMorgan Chase's Jamie Dimon has had women as his second-in-command for years, but shows no signs of stepping down from the CEO role. Corbat turned Citi into a much smaller and stable entity, focusing on its credit card businesses and its international banking franchise.

NEW YORK A Zoom call has become an integral part of daily life during the coronavirus pandemic. On Tuesday, Wall Street acknowledged as much by boosting the videoconferencing company's market value above that of more established companies such as Citigroup, Boeing and Starbucks. Zoom's revenue more than quadrupled from the same time last year to $663.5 million and profits blew past Wall Street forecasts. At the current level, Zoom's market value exceeds the combined value of two storied automakers, General Motors and Ford, and is more than double the aggregate value of the nation's four biggest airlines. The forecast is now more than double the $910 million revenue that Zoom had anticipated as it began its fiscal year.

Thanks largely to the funds set aside for bad loans, JPMorgan's profit fell by half in the April-June quarter, Citigroup's sank about 70% and Wells Fargo reported its first quarterly loss since the financial crisis of 2008. In its second-quarter results, JPMorgan said it set aside $10.5 billion to cover potentially bad loans. Thats on top of the $8.3 billion the bank set aside in April, when the pandemic was only just starting to impact the U.S. economy. Citi, which is heavily exposed in credit cards, set aside an additional $7.9 billion to cover potentially bad loans. Wells Fargo, which did not set aside as much money as its peers in April, had to play catch up this quarter, setting aside $8.4 billion to cover potentially bad loans.