Shares of banks and other financial institutions rose sharply as traders bet the sector would benefit from stability in global markets and a dovish Federal Reserve.
In a good sign for money management business, shares of index-construction firm MSCI jumped 9.3% after it reported strong demand for its services frojm investment firms during the fourth quarter.
New York Attorney General Letitia James sued a unit of Citigroup, alleging the bank failed to protect its customers from online scams and then illegally denied those account holders reimbursements.
The banking industry may need to spend hundreds of millions of dollars in the first year to set up protocols to access the new corporate-ownership information database, the U.S. Treasury Department said, as reported earlier.
PayPal plans to trim 9% of its total workforce this year as part of a restructuring plan.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-30-24 1743ET
