Credit Suisse draws up plans to split investment bank in three

Credit Suisse could split its struggling investment bank into three parts, a move that would involve thousands of job cuts as the Swiss bank reshapes its business. The bank has drawn up plans to split its beleaguered investment banking unit, including creating a so-called ‘bad bank’ to hive off unwanted assets, the Financial Times reported … Read more

Meta Quietly Reduces Staff in Cost-Cutting Push

Meta Platforms Inc. META -2.72% is planning to cut expenses by at least 10% in the coming months, in part through staff reductions, as the social-media giant confronts stalling growth and increased competition, according to people familiar with the company’s plans. The Menlo Park, Calif., company has begun quietly nudging out a significant number of … Read more

Meta and Google Are Cutting Staff. Just Don’t Mention Layoffs.

In response to stalling growth and intense competition, Meta META -1.75% Platforms Inc. executives have spoken of cost cuts, hiring freezes and “ruthless prioritization.” One word the company hasn’t used: layoffs. But Meta has begun quietly nudging out a significant number of staff by reorganizing departments and giving affected employees a limited window to apply … Read more

This interest rate hedge ETF has soared 60% this year as stocks, bonds sink in market carnage

Hi! This week’s ETF Wrap looks at an interest rate hedge ETF that is producing massive gains amid the carnage of 2022, along with other funds that investors might consider amid concerns over elevated inflation and “roller coaster” markets. Please send feedback and tips to christine.idzelis@marketwatch.com. You can also follow me on Twitter at @cidzelis … Read more

Goldman Sachs Plans to Cut Hundreds of Jobs

The industrywide slump in mergers and new initial public offerings has hit Goldman Sachs Group’s bottom line this year. Photo: Michael Nagle/Bloomberg News September 12, 2022 1:04 pm ET Goldman Sachs Group Inc. is preparing to lay off hundreds of staff as soon as next week. The job cuts are part of the bank’s annual … Read more

MicroStrategy Plans to Sell Shares to Buy More Bitcoin. The Stock Is Falling.

Text size MicroStrategy stock is sensitive to swings in the price of Bitcoin. Dreamstime MicroStrategy stock has surged in recent days amid a rally in cryptocurrency prices—but the shares have turned lower following news that the business intelligence company with major Bitcoin holdings plans to sell shares. In a filing Friday with the Securities and … Read more

AT&T’s Dividend-Loving Investors Are Dialing the Wrong Number

In April last year, a month before announcing the spinoff of its media division to shareholders in the form of shares of a 71% stake in the newly created Warner Bros. Discovery, WBD -1.22% Chief Executive Officer John Stankey assured investors that “our deliberate capital-allocation plan allowed us to invest and sustain our dividend at … Read more

AT&T’s Dividend-Loving Investors Are Dialing the Wrong Number

In April last year, a month before announcing the spinoff of its media division to shareholders in the form of shares of a 71% stake in the newly created Warner Bros. Discovery, WBD -2.56% Chief Executive Officer John Stankey assured investors that “our deliberate capital-allocation plan allowed us to invest and sustain our dividend at … Read more

EY to Announce Breakup Plan for Audit and Advisory Businesses

Carmine Di Sibio, EY’s global chairman and chief executive, is scheduled to tell the firm’s 13,000 partners today that a worldwide breakup plan has been approved by the company’s top leaders, people familiar with the matter said. The partners will be asked to vote later this year or early next on the plan, the people … Read more

Ernst & Young Leaders Expected to Approve Plan to Split Accounting Company

Ernst & Young’s leaders are expected this week to give the green light to splitting its auditing and consulting businesses, paving the way for the biggest shake-up in the accounting profession in more than 20 years, according to people familiar with the matter. The accounting giant’s global executive committee, which oversees the firm’s 312,000-person worldwide … Read more