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According to the Wall Street Journal, the latest efforts by regional countries, led by Pakistan, to broker a ceasefire between the US and Iran have stalled.On April 4th, local time, Chief U.S. District Judge James Boasberg of the District of Columbia rejected the Justice Departments request to retry the criminal case against Jerome Powell, after his ruling blocked a subpoena issued in connection with the criminal investigation. In his March 13th ruling, Boasberg stated that the subpoena issued to the Federal Reserve Board in January of last year was for improper purposes, aimed at forcing Powell to agree to Trumps conditions demanding a swift interest rate cut or his resignation. The subpoena for Powell was issued by Washington D.C.s top federal prosecutor, Jeanine Piro (a staunch Trump supporter), who has pledged to continue the investigation and stated that her office is prepared to appeal to the U.S. Court of Appeals for the District of Columbia Circuit. Sources indicate that senior Justice Department officials support the appeal decision. This appeal could delay the confirmation of Kevin Warshs nomination as Federal Reserve Chair. Senator Thom Tillis, a Republican member of the Senate Banking Committee, has criticized the investigation into Powell and has vowed to continue blocking Warshs nomination while the appeal process continues.April 4th - According to Oxford Economics, the US March employment figures significantly overestimated the strength of the pre-war job market, as the data reflected declines in both the labor force and household employment. Job growth will slow as the war in Iran impacts real economic activity. The wars impact on inflation is immediate, but its negative effects on consumer spending, business investment, and hiring will become more apparent in the coming months. Oxford Economics baseline forecast remains that the Federal Reserve will ignore the one-off shock of rising oil prices this year and cut interest rates twice to guard against any future weakness in the labor market.A U.S. judge refused to reconsider the ruling in the investigation against Federal Reserve Chairman Jerome Powell.April 4th - According to information obtained from Iran on the 3rd local time, a US F-16 fighter jet issued an emergency signal and was scheduled to make an emergency landing in Saudi Arabia. The specific reason for the forced landing is currently unclear.

According to a spokeswoman, RBC cuts ten investment banking jobs in the US

Skylar Williams

Sep 30, 2022 10:55

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According to an email sent by a bank official on Thursday, Royal Bank of Canada (RBC) cut approximately ten positions last week in its U.S. investment banking office.


According to a spokesman for the U.S. capital markets division, the layoffs, which account for 1% of its U.S. investment banking business, were consistent with "normal attrition."


The capital markets division of Canada's largest bank, RBC, reported a 58% decrease in net income to C$479 million ($350 million) in the third quarter, mostly owing to loan underwriting markdowns of C$385 million in the United States.


RBC's U.S. business consists of retail banking, capital markets, wealth management, treasury services, and wealth management.


Bank of Montreal has also laid off personnel from its U.S. capital markets division, a spokeswoman for the bank said earlier this month, without providing any details.


Rising interest rates in the United States. The efforts of the United States The actions taken by the U.S. Federal Reserve to rein in out-of-control inflation have rocked the global financial markets, depressing the appetite of corporations for mergers and making them apprehensive of stock and debt offers.


Goldman Sachs Group Inc (NYSE:GS) warned in July that it may limit employment and slash spending if the economic outlook worsened.

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