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Morgan Stanley's Profit Falls, Hurt by Lower Trading Revenue
Results show that Wall Street-style businesses like investment banking and trading are still in the doldrums. Source link
The Man Charged With Steering the Yuan Through China's Economic Turmoil
Pan Gongsheng has experience in high-stakes tasks, but China’s fragile economy raises new risks. Source link
Cathie Wood's ARK Writes Down Twitter Stake by 47%
Wood is still bullish on Twitter’s long-term outlook and said her fund updates its internal valuations of private companies frequently. Source link
Big Banks' Earnings Had Some Bad News for Smaller Banks
Regional lenders due to report results this week will likely be hit harder by rising deposit costs. Source link
Binance Cuts Back Employee Benefits, Citing Decline in Profit
The company told staffers that it would stop offering mobile-phone reimbursement, fitness reimbursement and work-from-home expenses, among other items. Source link
Hong Kong Is Bullish on Crypto. Its Banks Aren't So Sure.
Crypto CEOs used to talk about disrupting the financial system. Now some of them are struggling to find a bank. Source link
Venture Firms Scale Back Megafunds
The prolonged startup bear market is forcing some venture firms to unwind investments and scale down expansion plans. Source link
Investors Are Bailing on Cathie Wood's ARK Fund
Once the largest actively managed ETF, the fund has shrunk to roughly $9 billion. Source link