Hsbc, Goldman, Harry Wilson discussed on BTV Simulcast


All about the wages for junior bankers with UBS and a number of institutions. But today, the most read stories on the Bloomberg terminal are the coal is back at Goldman Sachs. It doesn't matter whether you're a junior banker or a high paid investment bank of the college back at HSBC versus pay rises the colors back at Goldman's I should say versus pay rises at HSBC. So what we know at Goldman's is they're set up to cut several hundred jobs. It's the yearly thing that they used to do, by the way. During the pandemic, they halted that. They've got 47,000 employees. It was 39,100 just two years ago. Trading, you saw the business search by 32%. Investment bankers probably a more worrying division to be and their revenue fell by 41%. Now, if you flick it over, I mean two roads, two banks diverge. Pay rises. You and Stevenson caught up with Harry Wilson are print reporter for HSBC. The bank is short of its cost target. There's going to be brutal cost control, but they may materially race staff pay in 2023. So this is about retention of deliverers in the business. They may materially step up those staff wages in 2023 relative to 2022, but the bottom line for you at HSBC. I love this. You know when he talks about the CEO wakening up and his commitment to cost cuts and if he hears that every day, well, that makes him feel good is the CFO. I feel like we're in a good place. So two banks diverged. Pay rises anonymous at HSBC and the coal is back at Goldman's equity markets this morning. A little bit frisky ahead of CPI. We're seeing the biggest four day gain in stocks. We're just holding on to the green line this morning. 41 31, up 0.3%. The biggest four day game since late June. Why? Earnings dear boy. Earnings will keep defying the week

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