US banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking.

World Business Watch: U.S. banks get ready for profit crunch

Hardly a day goes by without a big bank announcing a significant rise in starting salaries for its youngest employees. JPMorgan Chase, Citigroup, UBS and Morgan Stanley are now paying first-year bankers $100,000, while Evercore, Jefferies and Goldman Sachs will pay $110,000.

Big banks are raising salaries for junior staff to counter burnout

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World Business Watch: U.S. banks get ready for profit crunch

Big banks are raising salaries for junior staff to counter burnout