Bloomberg The pain from the Fed’s rate cuts is a little worse than the biggest US banks expected. JPMorgan Chase & Co reduced the annual net interest income target it set two months ago, joining Citigroup Inc and Wells Fargo & Co in lowering the bar. Longer-term rates have continued to fall as investors expect the Federal Reserve to continue ...

Bloomberg Societe Generale (SocGen) SA is studying ways to save 600 million euros ($662 million) in annual costs tied to its operations in Paris, part of an effort to win back investor confidence and improve returns. The review, known internally as “Ithaque,” started in June, according to a person familiar with the matter. No decision has been made and the ...

Bloomberg Embattled Cathay Pacific Airways Ltd reported its biggest drop in passenger traffic in more than a decade after facing heavy backlash from China in the wake of its employees joining protests in Hong Kong. Hong Kong’s flag carrier and its Cathay Dragon unit carried 2.9 million passengers in August, down 11 percent from a year earlier, the company said ...