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As investment banks struggle to make heads or tails of the harsh new normal, here is an attempt to make sense of a variable set of the first-quarter results (in US dollars).

There were a few bright spots: investment banking revenues increased by 15% and those stubborn costs fell by 6%. But revenues across the industry fell by 6%, led by a 13% drop in fixed income. Pre-tax profits also edged downwards.

Financial News's investment banking columnist William Wright analyses the first-quarter figures from the world's largest banks

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How was it for you? The first quarter at a glance

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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US law firm hires private equity specialist from key client

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PCAOB Chair, in Last Days, Warns Against Potential for Budget Slashing

The bond manager hasn’t adjusted its portfolio saying it seems unlikely the president will get his way.

Bond Giant Pimco Dismisses Trump’s Threats to Fed’s Powell

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Jittery markets are swelling trading revenue and profit, prompting banks to put more money to work on Wall Street.

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Many on Wall Street have privately worried that political pressure will undermine the Federal Reserve’s credibility.

Dimon Defends Fed Independence After Trump Attacks

Temperatures have been rising since the world’s oldest underground transportation system opened in 1863, presenting challenges that air conditioning can’t easily fix.

The London Tube ‘Feels Like Hell.’ Efforts to Cool It Just Make It Hotter.

Aircraft and booze are among imports that would be targeted as EU debates how to respond to President Trump’s latest trade threats.

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached

The four-day minimum requirement will begin in the new fiscal year, and some leaders will have to relocate to Seattle or Toronto within 12 months.

Starbucks Tells White-Collar Workers to Come to the Office More—Or Take a Buyout

JPMorgan, Wells Fargo lead the banks whose quarterly results may offer clues on how consumers and companies fared during a volatile period. The S&P 500 climbed 0.1%, and the Nasdaq rose 0.3% to a record.

Financial Stocks Rise Ahead of Busy Week for Earnings, Inflation Data

The bank put $50 billion toward lending to riskier companies to compete with nonbank giants dominating the market. The Walgreens deal was the payoff.

Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on It

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Nations Find That Neither Anger Nor Appeasement Deflects Trump’s Tariff Threats

Continuation vehicles were once used by “zombie funds” but now usually contain top-performing companies.

The Private-Equity Maneuver Allowing More Investors to Cash Out

The short-term rental company now enables guests to book services at its properties. But hosts worry about liability—and not getting a cut.

Airbnb Lets You Add a Private Chef to Your Rental. Your Host Might Not Like It.

The 59-year-old hedge fund titan made his pro-tennis debut in a competitive ATP doubles tournament alongside a Grand Slam champion, and it ended in a straight-set defeat.

Bill Ackman’s Pro-Tennis Debut Lasted 67 Minutes

The president again pushed the Fed to lower rates, helping power the S&P 500 and the Nasdaq composite to fresh record closing highs.

Stocks Climb After Investors Look Forward to Trade Deals, Corporate Earnings

A new group plans to raise at least $20 million to stop the democratic socialist in the city’s mayoral race.

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New York’s Financial Crowd Rushes to Build Anti-Mamdani War Chest

Recent graduates who haven’t started their gigs at big banks are being recruited for jobs that don’t start for another couple of years.

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Inside the Wall Street Recruitment Wars Pitting Banks Against Buyout Firms

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ymQ5eX1P2vBQ

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