BANKS, INCLUDING  Goldman Sachs Group Inc and Morgan Stanley, that once relied heavily on trading, are now leaning more heavily on businesses like private equity and wealth management. Picture: BLOOMBERG/MICHAEL NAGLE
BANKS, INCLUDING Goldman Sachs Group Inc and Morgan Stanley, that once relied heavily on trading, are now leaning more heavily on businesses like private equity and wealth management. Picture: BLOOMBERG/MICHAEL NAGLE

Wall Street bonuses may jump 10%

Wall Street bonuses may climb as much as 10% this year, in the first meaningful jump for the industry since 2013, according to a closely watched report.

Bankers who advise companies on issuing stock or bonds could see an even bigger pay jump, as much as 20%, compensation firm Johnson Associates Inc said. — Reuters

Aramco’s $300bn spree

Saudi Aramco plans to spend close to US$300bn over 10 years in upstream oil and gas projects, CE Amin Nasser said on Monday. At the ADIPEC energy conference in Abu Dhabi, Nasser said: "This is mainly upstream, onshore, offshore and joint ventures in the kingdom and out of the kingdom." He also said a decision would hopefully be made soon on the location for the listing of shares in the oil giant. Crown Prince Mohammad bin Salman said last month that Aramco’s initial public offering, part of an ambitious plan to diversify the Saudi economy beyond oil, was on track to go ahead in 2018. — Reuters

Please sign in or register to comment.