Falling revenues put pressure on investment banks
Top 12 institutions face calls for radical action to boost income.
The world’s biggest investment banks saw combined revenues sink by 15 per cent in the first half of this year, the most since the aftermath of the financial crisis, underlining the urgency of taking radical measures to boost returns to shareholders.
The second quarter saw more activity than the first, where there were simultaneous falls across stocks, bonds and commodities and a dearth of companies doing deals. But the rebound was not strong enough to avert a slump in total revenues from investment banking for the top 12 banks, according to figures from Coalition, a London-based group that combines public information with independent research and validation by a network of market participants.
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WNU Editor: Donald Trump is right on this one .... Trump says U.S. interest rates must change as Fed weighs rate hike (Reuters). Unfortunately .... when interest rates do rise .... and they will rise Trump or no Trump .... the impact is going to be serious across the board, starting with the interest that governments must pay on their debts.