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Exclusive: China's CITIC to move dozens of Hong Kong bankers to mainland to cut costs -sources

China's CITIC Securities plans to move dozens of bankers from its offshore platform CLSA in Hong Kong to the mainland to cut costs and meet Beijing's call to bridge income inequality in the financial sector, people with knowledge of the matter said. ....

Hong Kong , Xie Yu , Selena Li , Thomson Reuters Trust Principles , Goldman Sachs , Morgan Stanley , Thomson Reuters Trust ,

Morgan Stanley profit drops 14% as deal drought persists

Morgan Stanley's profit beat estimates as growth in its wealth management business offset lower trading revenue in the second quarter, and executives expressed optimism about the economic environment. ....

New York , United States , Mehnaz Yasmin , James Gorman , Arun Koyyur , Lananh Nguyen , Niket Nishant , Tatiana Bautzer , Thomson Reuters Trust Principles , Morgan Stanley , Thomson Reuters Trust ,

Bank of America profit beats on boost from interest income, investment banking

Bank of America's second-quarter profit beat Wall Street estimates as it earned more from customers' loan payments while investment banking and trading fared better than expected. ....

United States , New York , Alastair Borthwick , Saeed Azhar , Lananh Nguyen , Jeremy Barnum , Manya Saini , Brian Moynihan , Thomson Reuters Trust Principles , Federal Reserve , Wall Street , Bofa Shares , Wells Fargo , Chief Financial Officer Alastair Borthwick , Thomson Reuters Trust ,

Morning Bid: Relief over US inflation keeps Asia upbeat

A look at the day ahead in European and global markets from Sonali Desai ....

United States , Bruxelles Capitale , Edmund Klamann , Sonali Desai , Michele Bullock , University Of Michigan , Thomson Reuters Trust Principles , European Central Bank Vice , Wells Fargo , People Bank , Japan Asia Pacific , Reserve Bank , Deputy Governor Michele Bullock , Central Bank Vice President Luis De Guindos , Thomson Reuters Trust , Mrng Eu ,

Citigroup profit drops 36% as trading slump casts cloud over earnings

Citigroup beat analysts' estimates for second-quarter profit on Friday as higher interest payments from borrowers partly countered a blow to its Wall Street businesses from a slump in trading. ....

Lananh Nguyen , Mehnaz Yasmin , Sriraj Kalluvila , First Republic Bank , Thomson Reuters Trust Principles , Wall Street , Wells Fargo , Thomson Reuters Trust , Rsbi Regulatory Oversight ,