The most formally dressed up industry may have been the banks in the country but it appears that they are also allowing their employees to relax a bit on this count. On
Friday, reportedly JPMorgan Chase told 237,420 workers that it was changing its everyday dress code, business casual. This is a move that seems to be taken by JPMorgan to make its employees comply with the changing recent casual nature of today's work environment.
Unknown hackers have been able to leak sensitive data from the database of the InvestBank of the United Arab Emirates (UAE).
Someone uploaded a 10GB file online with a range of sensitive financial data from the bank including credit card details and passport scans. Initial analysis of the ZIP file shows that it contains tens of thousands of credit card numbers, names and addresses of the customers of the bank. The upload includes folders listed as 'Account Master', 'Customer Master' and 'Branch Master'.
Goldman Sachs, the multinational investment banking firm launched the GS Bank. It is an FDIC-insured, online savings bank which will be a common man's bank and that means Goldman Sachs (GS) is now paving its way to be the bank for masses. The internet based bank will be available to anybody who has an internet connection and $1. That surely makes a difference from the company's minimum $10 million private wealth management accounts.
Bad loans to companies had a steep climb to 67 percent at three of the largest American banks in Q1. It marks the most recent sign that corporate credit quality is wearing away with continued drop in energy prices.
Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co., saw their bad loans rise to the highest levels in almost three years. According to the executives, currently the weakness is restricted to oil, gas and the connected industries.
San Francisco, California based Wells Fargo & Company is a bank holding company with three operating segments. It provides banking, retail, mortgage, commercial and corporate banking services via different channels to individuals as well as businesses in all fifty state in the U. S, the District of Columbia along with other countries.
- Postage Prices will Decrease from Sunday; USPS not too Happy About It
- Marriott and Starwood Hotels & Resorts Worldwide Inc Shareholders Approve to $14.41 Sales Deal
- UK plan to impose additional tax on sugary drinks
- Obesity during pregnancy may increase risk of very ‘large babies’
- Dropping Sales at Gap’s Key Brands hurt the Company’s Shares