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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....
...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...
...Together they offer a clear sense of how America — and its key allies in Europe and Asia — now see the world....
...“They are stuck with this sort of kabuki pantomime of trying to put on a show of blocking people, which they’re kind of good at,” said Adam Isacson, a migration expert at the Washington Office on Latin America...
...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....
...America”....
...Elsewhere on Thursday… — How to talk to a person like ChatGPT (Ars Technica) — Index fund investments in banks (Bank Reg Blog) — How European soccer made peace with fasting during Ramadan (New York Times...
...Millions watch total solar eclipse across Americas...
...Highlights Shohei Ohtani’s former interpreter was charged with bank fraud by the US Department of Justice, which accused him of wiring more than $16mn from the Los Angeles Dodgers baseball star’s bank account...
...In today’s America, too few of those who are most at risk have any way of finding that out....
...“Taken together, the absence of news and the passage of time have brought a Bank Rate cut somewhat closer,” Pill said on Tuesday....
...The Bank of Japan is likely to hold off from raising interest rates next week but investors expect the central bank to outline its response to rising inflationary pressures caused by the yen’s decline....
...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....
...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....
...Five months after declaring sovereignty from British rule, the fledgling United States of America finds itself on the verge of being recolonised after a series of heavy defeats in the Revolutionary War....
...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....
...Trade body UK Finance said the BoE had highlighted “a number of important issues” that banks needed to consider in terms of exposure to private equity....
...The bank reported a return on tangible equity — a key measure of bank profitability — of 12.3 per cent, down from 15 per cent last year but ahead of its target of more than 10 per cent for 2024....
...Microsoft has hired the co-founder of Google’s DeepMind, the Bank of Japan raised interest rates for the first time since 2007, and leading European and UK artificial intelligence start-ups have been lobbied...
...The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...Seven banks — out of 45 then operating in the country — have been granted presidential approval, including Mercedes-Benz Bank, Ikano, J&T and Intesa....
...Deutsche Bank lost a subsequent trial in 2017 but lodged an appeal, resulting in an another series of lawsuits....
...The Bank of England is widely expected to keep interest rates on hold....
...The Bank of England is facing growing Tory pressure for interest rate cuts ahead of its May rate-setting meeting, prompting warnings from economists that politicians should not impinge on the central bank...
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