ECONOMY
Insurers expect inflation to remain high and a recession to hit the U.S., a Goldman Sachs Asset Management survey said.
The average Wall Street bonus of $176,700 last year declined 26% from the record-setting bonus of $240,400 in 2021, New York's state comptroller said.
Turmoil in the banking sector is unlikely to spread global contagion, but regional banks remain vulnerable, industry experts said.
With inflation dipping but still elevated and with stress on the banking system, the Federal Reserve approved another quarter-point interest rate hike.
As Federal Reserve officials begin their two-day policy meeting, the challenges the U.S. economy faces have grown even more complex.
UBS is emerging as a rare winner in Credit Suisse's crisis after a historic, government-brokered deal that contains a raft of financial shock absorbers.
In a wide-ranging interview, DoubleLine Capital CEO Jeffrey Gundlach predicts a U.S. recession could occur within the next four months, citing a steepening yield curve as a concerning sign.
President Emmanuel Macron is set to push through his unpopular pension system reform that will raise the French retirement age to 64.
ECB is focusing on reducing inflation rather than the stability of the banking sector, managers warned as the central bank hiked rates.
Bridgewater Associates founder Ray Dalio warned that Silicon Valley Bank's failure shows cracks widening in global finance.
