Fueled by the global boom in artificial intelligence stocks, relaxed capital rules and greater lending to hedge funds, big Wall Street banks have already had a banner year for equities trading — even with one quarter left to go.
Browsing: Bank of America Corp
Bank of America on Wednesday posted a sharp profit decline after being hit with a $1.2 billion penalty by U.S. regulators, while revenue also disappointed after trading operations generated about $750 million less than expected.
Bank of America has hired an army of external contractors to help it patch software vulnerabilities exposed by advanced artificial intelligence models including Anthropic's Mythos, the bank's CEO, Brian Moynihan, told CNBC on Wednesday.
Just a few carefully chosen words from Federal Reserve Chairman Kevin Warsh convinced markets that he was serious about inflation and ready to recommend an interest rate hike in just a few weeks.
Walk the halls of any major banking conference or listen in on a quarterly earnings call, and one topic keeps coming up: With the window for mergers wide open under the Trump administration, who will take a swing?