Italia markets close in 6 hours 52 minutes
  • Associated Press Finance

    The average bonus on Wall Street last year was $176,500. That's down slightly from 2022

    The average Wall Street bonus fell slightly last year to $176,500 as the industry added employees and took a “more cautious approach” to compensation, New York state’s comptroller reported Tuesday. The average bonus for employees in New York City’s securities industry was down 2% from $180,000 in 2022. The slight dip came even as Wall Street profits were up 1.8% last year, according to the annual estimate from Thomas DiNapoli, the state's comptroller.

  • Reuters

    Wall Street bonuses fell 2% for 2023, New York Comptroller says

    NEW YORK (Reuters) -Wall Street's cash bonuses fell 2% to an average $176,500 last year as financial firms took a more cautious approach to compensation, according to an estimate by New York State Comptroller Thomas DiNapoli. The lower payouts came even as industry profits climbed 1.8% in 2023. "Wall Street's average cash bonuses dipped slightly from last year, with continued market volatility and more people joining the securities workforce," DiNapoli said in a statement.

  • Reuters

    Mainland Chinese surge into Hong Kong property after stamp duties scrapped

    After a pandemic-induced lull spanning more than three years, mainland Chinese are snapping up homes in Hong Kong, accounting for up to a third of new property sales weeks after the city removed all additional stamp duties on foreign buyers. The surge of mainland Chinese buyers into one of the world's most expensive housing markets - reported by several property agents and developers - comes amid battered confidence in the mainland's housing market due to a debt crisis and an uncertain economic outlook. Hong Kong in late February removed all additional stamp duties, including those for purchases of second properties, as well as duties on those selling flats within two years of buying them.