New York Community Bancorp $NYCB will have to lure buyers for its commercial real estate (CRE) loans with steep discounts and diversify its revenue as it races to shore up its finances.

Story by ⁦Niket Nishant⁩ ⁦Manya Saini⁩ ⁦Reuters⁩ reuters.com/business/finan…

Reddit is aiming for a valuation of up to $6.4 billion in its U.S. IPO, the social media platform said on Monday, as it nears one of the most anticipated stock market debuts of the last few years. $RDDT Manya Saini Echo Wang Reuters

reuters.com/markets/deals/…

Short sellers targeting a key regional U.S. bank exchange-traded fund have made $977 million on paper so far in 2024, data from analytics firm Ortex showed, as troubles at New York Community Bancorp $NYCB rippled across the industry. Manya Saini
reuters.com/markets/us/sho…

A surge of interest in bitcoin exchange-traded funds is prompting some investors to swap out holdings in gold-backed ETFs, although analysts and fund managers said they are unlikely to challenge bullion longer term.
Reuters story with Ashitha Prasad
reuters.com/technology/bit…

PayPal reports Q4 revenue up 9% YoY to $8B, vs. $7.87B est., and total payment volume up 15% YoY to $409.8B, vs. $404.45B est. (Manya Saini / Reuters)

reuters.com/technology/pay…

📫 Subscribe: techmeme.com/newsletter?fro…
techmeme.com/240207/p30#a24…

On the personnel front, Wells Fargo, Bank of America and Citigroup reduced their workforces by a combined 17,700 last year. JPMorgan bucked the trend, adding 16,000 employees in 2023. By Niket Nishant and Manya Saini reuters.com/business/finan…

Citi to cut 20,000 jobs, posts $1.8 billion loss in 'disappointing' quarter reuters.com/business/finan… Tatiana Bautzer Manya Saini

Citigroup will cut 20,000 jobs over the next two years, the bank said, after reporting a $1.8 billion 4Q loss. CEO Jane Fraser called the quarter 'clearly disappointing,' and CFO Mark Mason said the reorg was 'tough on morale.' By Tatiana Bautzer, Manya Saini reuters.com/business/finan…

Wells Fargo's profit rose, beating analysts' expectation on cost cuts, but the lender warned that 2024 net interest income could be 7% to 9% lower than a year earlier. Shares fell 3%. By Noor Zainab Hussain, Manya Saini and Carolina Mandl. reuters.com/business/finan…

this CFO seems to have borrowed a page from his kid's rough note book and have written resignation letter in that and uploaded in BSE. Listed companies in India 😂😂😂

Me : I am on a office call. Sab chhup rehna thodi der pls.

My family in the background :

Geopolitical tensions and macroeconomic shocks are spurring businesses and governments into diversifying their supply chains, which is leading to 'clear benefits', Citigroup C.N CEO Jane Fraser said on Thursday. Manya Saini
reuters.com/business/citi-…

Here is a timeline of key events that shaped James Gorman's almost 14-year tenure atop the Wall Street giant, by Manya Saini reuters.com/markets/us/mor…

Morgan Stanley says Ted Pick to replace James Gorman as CEO reuters.com/markets/us/mor… Tatiana Bautzer Manya Saini Lananh Nguyen

Morgan Stanley $MS on Wednesday named insider Ted Pick as its chief executive officer, replacing James Gorman, who has held the top job for more than a decade and steered the bank in the aftermath of the 2008 financial crisis. - Manya Saini reports
reuters.com/markets/us/mor……

While economic forecasts for the upcoming year have turned increasingly gloomy, consumer spending has held remarkably steady, helping sustain payment volumes.
Vols rose 9% in the quarter, while cross-border vols ex transactions within Europe, a gauge of travel demand, surged 18%.

Exclusive: Aviation war insurers cancel some cover for Israel, Lebanon-sources reuters.com/business/aeros…

Story with carolyn cohn and Steven Scheer

Global investments in space startups rose for the first time in more than a year in the third quarter as investors bet on companies with government contracts that are considered more immune to a turbulent economy, a report showed on Monday. - Jaspreet Singh
reuters.com/technology/spa…

The…