Finance

Goldman Sachs Group Inc missed Wall Street estimates for quarterly profit on Tuesday as it took heavy losses from high-profile investments in WeWork and Uber Technologies and faced up to a weakening global economy.

From the pinnacle of the City of London's largest skyscraper, Stuart Lipton is wagering a $1.2 billion bet that the British capital remains a master of the international financial universe no matter what happens with Brexit.

Wells Fargo & Co missed third-quarter profit estimates on Tuesday as mortgage income sank and the fourth-largest U.S. bank by assets braced for additional legal expenses tied to a sales practices scandal that erupted more than three years ago.

JPMorgan Chase & Co kicked off bank earnings on Tuesday by beating Wall Street estimates for quarterly profit by a wide margin, a signal that the U.S. consumer remains strong, executives at the largest U.S. bank said.

HSBC Holdings has hired U.S. investment bank Lazard Ltd to sell its French retail business, a source close to the matter told Reuters, as part of a plan by new interim chief executive Noel Quinn to reduce costs across the banking group.

Deutsche Bank did not disclose more than one million suspect money transfers with Danske Bank until February, a person with direct knowledge of the matter said, about five years after a whistleblower flagged suspicious transactions at Danske.

Citigroup Inc plans to set up a wholly-owned securities business in China, people with knowledge of the matter said on Tuesday, taking advantage of Beijing's move to fully open up some of its financial sectors to foreigners next year.

Shared office space company WeWork Companies Inc is leaning toward a near $5 billion financing package led by JPMorgan Chase & Co , instead of selling a controlling stake to Japan's SoftBank Group Corp , Bloomberg reported https://bloom.bg/2pl8JmL late on Monday.

Britain's financial services regulator is examining allegations of precious metals market manipulation by JPMorgan Chase & Co traders following criminal charges by U.S. authorities, according to two people familiar with the matter.