by Christine Moukazis | Oct 27, 2020 | Latest News, Wall Street
Charles Schwab said Monday that it is laying off 1,000 employees just weeks after completing its acquisition of TD Ameritrade. The job cuts are part of efforts to “reduce overlapping or redundant roles” across both firms, the company said. “We have...
by Christine Moukazis | Oct 27, 2020 | Business, Latest News, Wall Street
Home-rental startup Airbnb Inc plans to list its shares on the Nasdaq, setting the stage for one of 2020’s most high-profile stock market debuts. Earlier this month, Reuters reported the company was aiming to raise $3 billion in its IPO, which could give it a...
by Christine Moukazis | Oct 27, 2020 | Latest News, Wall Street
Wall Street banks and their employees have been leaning left in recent years, increasing the proportion of cash allocated to Democrats. Some of that has been prompted by the industry’s bid to rebuild the bipartisan support it enjoyed before the 2009 financial crisis,...
by Christine Moukazis | Oct 27, 2020 | Latest News, Wall Street
Goldman Sachs Group Inc GS.N attempted to cover up allegations of workplace sexual misconduct by the bank’s global head of litigation, a lawsuit filed on Monday in New York State Supreme Court claimed. The lawsuit was filed by Marla Crawford, a former associate...
by Christine Moukazis | Oct 26, 2020 | Covid-19, Latest News, Wall Street
By Jack Kelly Unpleasant and unwanted news over the weekend from Europe, concerning a second wave of Covid-19, spooked investors in the United States and sent stocks falling sharply. If you haven’t noticed, the stock market has regained all of the losses from the...
by Christine Moukazis | Oct 26, 2020 | Business, Latest News
McDonald’s Corp MCD.N on Friday urged a U.S. judge to dismiss a lawsuit by dozens of Black former franchise owners who accused the fast-food giant of racial discrimination for selling them underperforming stores, saying it did not want them to fail and never...
by Christine Moukazis | Oct 26, 2020 | Business, Latest News
A California appeals court on Thursday unanimously ruled against ride-hailing companies Uber Technologies Inc and Lyft Inc, saying they must reclassify their drivers in the state as employees. While the ruling does not take effect before a Nov. 3 company-sponsored...
by Christine Moukazis | Oct 26, 2020 | Business, Latest News
Quibi’s founder, Jeffrey Katzenberg, told employees on a call on Wednesday to listen to a song from the movie “Trolls” to help lift their spirits during the company’s shutdown, according to a report from The Wall Street Journal’s Benjamin...
by Christine Moukazis | Oct 22, 2020 | Covid-19, Latest News
The number of Americans filing new claims for unemployment benefits fell more than expected last week, but remained very high as the labor market recovery shows signs of strain amid a relentless COVID-19 pandemic and ebbing fiscal stimulus. The weekly unemployment...
by Christine Moukazis | Oct 22, 2020 | Latest News, Wall Street
Hong Kong’s markets watchdog on Thursday fined Goldman Sachs’s Asian business $350 million for its role in Malaysia’s multibillion-dollar 1MDB scandal, the largest single fine ever levied by the regulator in the Asian financial hub. The Securities and Futures...
