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Morgan Stanley's profit falls by more than half as trading slumps

Morgan Stanley`s quarterly profit fell by more than half as the Wall Street bank`s fixed-income trading and investment banking businesses took a hit from market volatility early in the year.

Morgan Stanley profit plunges 42% as trading revenue slumps

Wall Street bank Morgan Stanley's profit slumped for the second straight quarter as investors fled the bond, currency and commodity markets amid uncertainty about the timing of a US interest rate hike and concerns about China's cooling economy.

Infosys to offer financial services to US banks

Infosys to offer financial services to US banks

Global software major Infosys Ltd will offer its flagship Finacle product to service US banks` Verizon cloud platforms.

JPMorgan Chase to cut 5,000 jobs: Sources

About $2 billion of that is to come from cost-cutting in retail banking, with the bank planning to close 300 of its 5,570 branches by the end of 2016.

Fed rejects capital plans of US arms of Deutsche Bank, Santander

The Federal Reserve rejected the capital plans of the US operations of Spanish bank Santander and Germany`s Deutsche Bank, saying it saw serious problems in the planning processes of both.

For Fed stress tests, US banks form a study group

Executives at the biggest U.S. banks are sharing notes with each other before their next round of tests with federal regulators.

US fed funds rate hit highest since April 2013

A key overnight borrowing cost for US banks reached its highest level since April 2013 on Monday after the Federal Reserve raised an interest rate on a test program aimed to hit its rate target when it decides to tighten policy, Fed data showed.

US banks victims of 'sophisticated' cyber attack: Report

JP Morgan Chase and at least four other US banks have been victims of a "sophisticated" series of cyber attacks this month, sources close to the investigation told The New York Times.

JPMorgan Chase to cut 5,000 jobs in 2014

JPMorgan forecast its total headcount in 2014 at 260,000, down from 265,000 in 2013 and 280,000 in 2011, according to a presentation posted to the JPMorgan website ahead of an investor day.

US to let banks do business with licensed pot shops

The Obama administration on Friday issued new law-enforcement guidelines aimed at encouraging banks to start doing business with state-licensed marijuana suppliers, like those in Colorado, even though such enterprises remain illegal under federal law.

JPMorgan $13 bn mortgage settlement expected Tuesday

JPMorgan Chase & Co is expected to sign a USD 13 billion agreement with the US government on Tuesday to settle claims it overstated the quality of mortgages sold to investors during the housing boom, two people familiar with the matter said.

TCS wins contract from US firm for core banking solutions

Tata Consultancy Services (TCS), India largest software services exporter, Tuesday said the US-based financial services firm Zions Bancorporation has chosen its core banking software TCS BaNCS.

US banks emerge stronger from crisis: Bernanke

"Today the economy is significantly stronger than it was four years ago, although conditions are clearly still far from where we would all like them to be," he said Monday when addressing a financial markets conference sponsored by the Federal Reserve Bank of Atlanta.

Five US banks fined for improper payment to lobbyists

Five leading US banks were fined over USD 4.4 million in total for using municipal and state bond funds to pay lobbyists, the US Financial Industry Regulatory Authority (FINRA) announced.

Major US banks face money-laundering probe: Report

Investigating has been started to find out whether several major US banks failed to monitor transactions properly, allowing criminals to launder money, a newspaper reported on Sunday.

US banks' net income rises

US banks' net income in the second quarter of this year continued to increase, driven by lower loan-loss provisions and higher gains on loan sales, the Federal Deposit Insurance Corporation (FDIC) reported.

Visa, MasterCard to pay $6 bn to settle ‘antitrust’ lawsuit

Major US banks as well as payment network giants Visa, Mastercard are set to shell out more than six billion dollars to settle a lawsuit brought by retailers who accused them of price fixing.

4th largest US bank Wells Fargo to move jobs to India soon

Even though the US is in the election mode and is under the anti-outsourcing Obama administration, the fourth largest lender there by assets, Wells Fargo has decided to move an unspecified number of jobs to India, as part of its plan to trim cost.

US banks see moderate economic growth with risks

The banking industry group Friday expected the US inflation-adjusted GDP will expand by 2.2 percent this year, compared to 1.6 percent in 2011.