Australia’s Macquarie Group Ltd (MQG.AX) shed close to 15 percent of its U.S. investment banking workforce this month to replenish its ranks with star performers in North America, according to people familiar with the matter. The action comes as other international banks reconsider their U.S. investment banking strategy. Earlier this ... Read More »

BlackRock Inc (BLK.N), the world’s largest asset manager, posted a 20 percent drop in first-quarter profit amid a dramatic reversal in financial markets. The New York-based company’s net income fell to $657 million, or $3.92 per share, in the three months ended March 31, from $822 million, or $4.84 per ... Read More »