Ed Kalecki

Bloomberg's Monica Ricks reports.

After years of restraint following the 2008 global financial crisis, Wall Street is handing CEOs a record payout.

Chief executive officers at the top U.S.

banks all received annual compensation of at least $40 million, with their total pay surpassing records set in 2006 and 2021.

Bank of America's Brian Moynihan was the latest CEO to have his pay disclosed, with his competition rising 17 percent last year to $41 million.

Citigroup said this week that it boosted the pay of CEO Jane Fraser 22 percent to $42 million for 2025, a sign of confidence from the board about her ability to turn the company around after years of unperforming peers.

The European Central Bank is prepared to offer euro liquidity to monetary authorities from around the world, an effort to prevent market tensions and increase global use of the single currency.

In a statement Saturday, the Frankfurt-based institution says it will extend repo lines to all central banks unless excluded on the grounds of, in particular, money laundering, terrorist financing or international sanctions, adding that the changes will apply as of the third quarter.

The move...

To make euros more readily available reflects Europe's broader efforts to redefine its place in a global order upended by President Trump.

Just in time for tax season, the Treasury Department and the IRS have released new guidance on restrictions to clean energy tax credits under President Trump's tax and spending cut law.

Bloomberg's Nathan Hager has more from Washington.

Western officials say China increased its support for Russia's war in Ukraine in 2025 and is likely to deepen cooperation with Moscow further this year, casting doubt on efforts by European leaders to improve relations with Beijing.

President Xi Jinping has become more assertive and confident in his supporting Russia's Vladimir Putin, and attempts by the Europeans to persuade their Chinese counterparts to help end the war have become more challenging over the past year.

Russia's war in Ukraine would not be able to continue without ongoing Chinese support, particularly the export of dual-use components and critical minerals used in Russian drone production.

A massive storm aimed at California may help the state, which has been struggling with a snow drought through much of the winter.

At least 12 inches of snow is expected to fall between

3,000 and 4,000 feet across mountains in northern and eastern California through next week.

Up to 8 feet are forecast to fall at higher elevations as a winter storm watch covers much of the area.

The snow drought is hurting much of the U.S.