Charles Schwab's 'difficult' day —  Alt-data firm rates CEOs — Goldman Sachs' sexual misconduct suit - Creak News

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Charles Schwab's 'difficult' day —  Alt-data firm rates CEOs — Goldman Sachs' sexual misconduct suit

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NEW YORK, NY - SEPTEMBER 9: Two men look out the window of the 63rd floor of One World Trade Center toward Manhattan prior to an event to commemorate the federal government's return to One World Trade Center, September 9, 2016 in New York City. U.S. Customs and Border Protection, Federal Office of Emergency Management, and General Services Administration will have office space at One World Trade Center. (Photo by Drew Angerer/Getty Images)

Europe's largest bank acknowledged big changes are coming when reporting its earnings Tuesday.

HSBC said it's looking to drive the majority of revenue from fee-based business as opposed to interest rates, as was previously the case. 

Reuters has a nice round up on the news, along with some reaction about how it could be received by the market. 

It's worth noting part of this shift in strategy could include more fees for standard banking accounts. With Britain being home to some of the most successful neobanks, that type of change won't be welcomed by customers. 

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Charles Schwab's 'difficult' day

Charles Schwab CEO Walt Bettinger, left
Charles Schwab CEO Walt Bettinger, left

Great scoop by Rebecca Ungarino on the cuts taking place at Charles Schwab.

In case you missed it, Schwab announced it is cutting roughly 1,000 employees as part of the integration of recently-acquired TD Ameritrade into the company. 

Rebecca got to take a look at the memo sent out by Schwab's head of client service and support. 

Read the full memo here. 


How one alt-data company that rates CEO performance aims to be the S&P or Moody's of tracking management teams 

Alternative data
Alternative data's use is exploding, and so too are worries about a regulatory crackdown

Bradley Saacks with a nice hit on an alt-data provider looking to rate management teams. Learn more about how Paragon Intel is able to establish ratings based on decisions executives make. Read the whole story here.


Goldman Sachs tried to cover up sexual misconduct by one of its top lawyers, according to a lawsuit from a former employee who says she was fired for speaking out

Goldman Sachs NYSE
Goldman Sachs trading booth on the floor of the New York Stock Exchange in New York, on Thursday, January 6, 2011.

A former Goldman Sachs employee has filed a lawsuit against the bank. Tyler Sonnemaker has the rundown on the suit. Get the full story here


Odd lots:

Visa's Planned Purchase of Plaid Faces Antitrust Scrutiny at the Justice Department (WSJ)

Financial crisis fashion: the boom in Lehman Brothers merch (FT)

Lenders Cracking Down on Mall Owners Behind on the Mortgage (WSJ)

Your Holiday Present's Arrival Could Depend on These Fund Managers (WSJ)

Hedge Funds' Shot at Keeping Stock Investments Secret Fades (Bloomberg)

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