Regional lender Citizens Financial Group opened a new private bank for wealthy customers last month. Its inspiration: First Republic Bank, which collapsed earlier this year in the second-largest bank failure in history. Citizens, based in Providence, R.I., is spending tens of millions of dollars hiring former First Republic staffers. It hopes the strategy will help […]
It usually takes time for scientific discoveries in the lab to make their way to the market. The groundbreaking gene-editing technology known as Crispr, which acts like a molecular pair of scissors that can be used to cut and modify a DNA sequence, has moved rather quickly from the pages of scientific journals to the […]
Nvidia rules the artificial intelligence world, but that world is getting a little smaller—and more crowded. The chip maker now synonymous with AI reported another quarter of blowout sales and earnings growth late Tuesday. Revenue more than tripled to $18.1 billion thanks mostly to soaring sales at the company’s data center segment, which is now […]
Wall Street believes its soft-landing dream is on the verge of coming true. That is prompting a fresh wave of demand for stocks. Markets have rallied since last week’s consumer-inflation report came in softer than expected. Many analysts and portfolio managers said they expect the gains to pick up heading into year-end, reflecting a sense […]
Updated Nov. 16, 2023 7:15 pm ET WASHINGTON—Republican senators called for Federal Deposit Insurance Corp. Chairman Martin Gruenberg to resign, while the GOP members of the agency’s board called for him to recuse himself from an investigation into allegations of a toxic workplace at the bank regulator. The comments came after The Wall Street Journal […]
Updated Nov. 14, 2023 6:29 pm ET An autumn stock-market rally accelerated Tuesday after fresh data showed that inflation cooled more than expected, powering big gains across stocks and government bonds. Consumer prices were unchanged in October from the previous month and up 3.2% from a year ago, less than what economists surveyed by The […]
Microsoft now owns some of the biggest videogames in the world. What it does with them could ripple across the entire industry—for good and bad. The biggest of those games is in the spotlight this week, as Activision Blizzard’s latest “Call of Duty” sequel went on sale Friday. Called “Modern Warfare III,” the new game […]
Giants like Apollo, Blackstone and KKR made their names in the business of private equity. But today, the thing that investors seem most excited about is growth in their private credit businesses. Recent flows of money into what are now known as alternative-asset managers have often tilted toward alternative forms of lending and away from […]
Morgan Stanley’s wealth-management arm is being scrutinized by the Federal Reserve, which is looking into whether the bank has sufficient controls in place to prevent rich foreign customers from laundering money. The Fed has been probing how Morgan Stanley vets foreigners and the origins of their money before taking them on as customers, according to […]
Investors are swiping left on Bumble’s new chief. She shouldn’t take it too personally. The owner of the female-driven online dating app of the same name saw its share price slide about 5% on Monday morning after the company said that founder Whitney Wolfe Herd is stepping down from the chief-executive officer role. She will […]
