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M. Stanley banker who advised on Aramco IPO to join Saudi Fransi Capital-source

One of Morgan Stanley's top dealmakers, who helped advise oil giant Saudi Aramco on its initial public offering (IPO), is leaving to join the investment banking arm of Banque Saudi Fransi .

Citigroup posts 48% jump in profit on reserve release

Citigroup Inc on Thursday reported a 48% jump in third-quarter profit that comfortably beat market estimates, as the bank released loan loss reserves and reaped a windfall of fees from equity underwriting and investment banking advice.

Morgan Stanley crushes profit view, deals power advisory business to record high

Morgan Stanley on Thursday reported a bigger third-quarter profit than market expectations, as the investment bank closed more deals and generated a record $1.27 billion from its advisory business during the three months.

Abu Dhabi fund Mubadala unit acquires a U.S. franchisee of Taco Bell

A unit owned by Abu Dhabi state fund Mubadala Investment Company has acquired one of the biggest franchisees of Taco Bell Corp in the United States, according to a statement on Thursday.

Wells Fargo beats profit expectations on reserve release boost

Wells Fargo & Co beat quarterly estimates for profit on Thursday, as the bank released funds set aside to cover potential loan losses due to the pandemic and reined in costs tied to its years-old sales practices scandal.

Wells Fargo profit rises on reserve release boost

Wells Fargo & Co reported a rise in third-quarter profit on Thursday as the bank released funds set aside to cover soured loans brought on by the COVID-19 pandemic.

Bank of America profit beats on strength across businesses

Bank of America Corp beat estimates for third-quarter profit on Thursday, boosted by strong growth across its businesses and a release of reserves it had set aside last year to cover bad loans.

How a historic Social Security hike will affect Americans

A 6 percent raise does not come along often these days for most Americans, but a bump of that magnitude in Social Security benefits is on the way for 2022.

U.S. home heating bills expected to surge this winter, EIA says

U.S. consumers will spend more to heat their homes this winter than last year due to surging energy prices, the U.S. Energy Information Administration (EIA) projected in its winter fuels outlook on Wednesday.

U.S. Social Security benefits to rise by most since early '80s

U.S. Social Security benefits for more than 70 million Americans will rise by 5.9% for next year, the Social Security Administration said on Wednesday, marking the largest annual increase in roughly four decades owing to this year's run-up in inflation.