Doorstepping

I recently spoke at a Reuters training session on last-minute interviews and doorstepping with UK Political Editor Liz Piper , Learning Editor Parniyan Zemaryalai and White House Correspondent Jeff Mason , who gave us all a real-time lesson as he was dispatched to cover President Joe Biden. Our advice? Prepare. Be nimble. It's not rocket science, but it works.

Let's jump in:

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.

Bank mergers that create institutions with more than $100 billion in assets will face heightened scrutiny from the U.S. Federal Deposit Insurance Corporation.

Capital One's $35.3 billion merger with Discover Financial will boost competition and be good for financial stability, the bank said in its regulatory application, according to people familiar with the matter.

Social media platform Reddit's shares rose 48% on their first day of trading, signaling that investor appetite for initial public offerings could be returning.

The U.S. Securities and Exchange Commission rule to shorten the settlement time for securities transactions -- from two days to one -- begins on May 28. Dubbed T+1, the move aims to reduce counterparty risk.

The world's biggest central banks are heading toward reversing a record string of interest rate hikes. But the way down for borrowing costs will look very different from the way up.

In this week's field report, congratulations to Saleha Mohsin for publishing her new book: "Paper Soldiers: How the Weaponization of the Dollar Changed the World Order." I enjoyed collaborating with her on currency stories at Bloomberg, and I can't wait to geek out on her debut book.

Next week, Nupur Anand will cover the Consumer Bankers Association conference in Washington. Please say hello to her if you're planning to attend #CBALIVE2024. On Friday, I'm representing Reuters at NYU's Journalism Career Fair. I look forward to meeting talented students and colleagues.

Have a great week,

Lananh