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...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...Bank of America cut the compensation of its top executive Brian Moyniahn by 3 per cent, or $1mn to $29mn in 2023, a year when the company’s bottom line shrunk and its stock lagged rivals....
...The Delaware court this year invalidated such a practice at the investment bank Moelis & Co, which had given its founder veto power over nearly all of the standard work conducted by a board of directors....
...Bank of America has sent “letters of education” to employees who have not been showing up at the office, warning them of disciplinary action, in the latest move from a large company to push staff back to...
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...At Bank of America, rising deposit costs equalled two-thirds of new interest received in the quarter....
...Third-quarter profits at Bank of America beat expectations, but growth lagged rivals because the bank still has hundreds of billions of dollars of low yielding bonds that it bought during the pandemic....
...The odds are it will be coming from card-issuing banks such as JPMorgan, Citigroup or Bank of America rather than Visa or Mastercard. Banks have plenty of ways to offset lower interchange fees....
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...Its price to book value of nearly 3 times trumps that for mortgage-heavy Wall Street banks like JPMorgan, Bank of America and Wells Fargo. But Rocket doesn’t have appreciably higher return on equity....
...The resilience of the Dollar Tree chain allowed the company to trade at a premium to Dollar General throughout much of 2023....
...Bank of America’s profits fell 18 per cent in the first quarter, dragged down by a jump in potential loan losses and additional expenses tied to last year’s regional banking crisis....
...Bank of America, Barclays, Citigroup, Jump Trading, JPMorgan Chase, Morgan Stanley, Tower Research Capital and Wells Fargo are also investing in FMX....
...JPMorgan, Bank of America, Citigroup and Wells Fargo all reported quarterly earnings on Friday. JPMorgan was alone among the group in posting record net profits for the year of $49.6bn....
...One reason is the dearth of big sticker prices, meaning most PLCs are already comfortably within reach of retail investors....
...Only 17 per cent of the fund managers polled by Bank of America expect a so-called hard landing — which typically implies a recession — for global growth, the smallest proportion in 19 months....
...Jefferies chief executive Rich Handler has sold $65mn of his stock in the Wall Street investment bank to buy a luxury yacht from longtime client Tilman Fertitta....
...Citi, JPMorgan and Bank of America have all gotten in....
...Analysts at Bank of America think late fees represent between 14 per cent and 30 per cent of the companies’ credit card revenue....
...Japan’s biggest brokerage and investment bank said on Friday that net income in its fourth quarter, which runs to the end of March, came in at ¥56.8bn ($363mn), compared with just ¥7.4bn in the same period...
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...In another Bank of England speech this week, Rebecca Jackson — the Bank’s executive director for Authorisations, Regulatory Technology & International Supervision — outlined how banks aren’t really set up...
...Private equity halts stake sales amid war in Gaza It is not just students at America’s top universities protesting Israel’s war in Gaza....
...America....
...The materials noted that 87 per cent of respondents to Musk’s Twitter plebiscite in January, just after the pay package ruling, were in favour of a move....
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