Hints and tips:
...Some of the world’s biggest banks — Morgan Stanley, Wells Fargo and Bank of America — are all reportedly lining up to get involved in bitcoin, too....
...It wasn’t a story about how we might use fintech in the future, or crypto, or a new kind of bank....
...But there was also the potential for huge losses: an investor who bought at the top and then sold in late February would have shrunk the same £10,000 into £3,129 in a month, following a 69 per cent plunge...
...3) Cryptic clueless How much in dollars at current Bitcoin prices did Laszlo Hanyecz pay on May 22 2010 for two pizzas?...
...European banks have struggled to compete with US rivals like JPMorgan Chase, Bank of America and Wells Fargo. 3....
...There’s a difference between no longer being in the hallowed “G5” group of currencies — which it is not at all clear the pound has fallen out of permanently either — and being an emerging market currency...
...Well, there’s no need for us to imagine anymore....
...The fourth-largest bank in the US said it added an “unprecedented” $3.1bn of loan loss reserves and took a $950m hit on its securities’ portfolio....
...At the same time, CTAs have been sporadically expanding their long positions in equity index futures as well....
...Wells Fargo’s results are on Tuesday, while Bank of America, which is forecast to post a fall in quarterly profit, BlackRock and Citigroup report on Wednesday....
...Cruise lines took the longest to recover in 9/11 (6 months vs. 3 months for gaming/lodging), a relative delay we would expect to play out in this situation as well....
...Primary consumer checking accounts and US business loans — two areas the bank had prioritised in its recovery — grew at 1 and 4 per cent, respectively, both slightly slower than in the fourth quarter of...
...Banking on Big Tech Google is talking to US banks about offering current accounts to its customers, accelerating Silicon Valley’s incursion into financial services after Apple’s credit card launch and Facebook...
...This is to take into account a less helpful product mix vs H1, currency (headwind of c£2-3m), lower royalty income (£2.3m vs £5.5m) and potential for a lull in sales ahead of the summer product launch....
...Based on a rough estimate of 100m opted-in users that’d be 36 cents per account per year, compared with a premium software upgrade that costs $69.99 a year, where the margins are sub 20 per cent and in excess...
...Referring to Wells Fargo’s fake accounts scandal in 2017, he tweeted: “I will cut Regs but make penalties severe when caught cheating!”...
...Analysts had been expecting falls of as little as 3 per cent year on year, though Mike Mayo of Wells Fargo said he had recently revised his estimates to a 15 per cent fall year on year....
...The US is located across the ocean, and the UK is located far away, while we are right here, in this region, and the North Korean nuclear range is not far away from our border....
...And Wells Fargo, the San Francisco-based bank, continues to struggle to emerge from the fake accounts scandal that erupted about 18 months ago....
...[Source: Upwork] Hamilton is trying to tackle one of the last frontiers in fintech. Challengers in the US have tackled consumer loans (SoFi, Marcus) and consumer bank accounts (Chime, Varo)....
...Ohio, where Youngstown is located, had the second highest rate of drug overdose deaths in the US in 2016, after West Virginia....
...The trend is helping repair fiscal and external deficits and rebuild foreign currency reserves, even though oil prices in dollar terms remain at $69, well below the peak of $150, set in 2008....
...Instant-access savings accounts at Citi and Chase currently offer 0.04 per cent of interest a year, for example, while Wells Fargo and Bank of America are at just 0.01 per cent. 4....
...Net profits in the period rose 22 per cent to €3.3bn. Including a positive currency impact of 1.7 per cent, turnover was 5.5 per cent higher at €27.7bn....
...The S&P 500 financials index trimmed an early rise but still finished 0.5 per cent higher as shares in Bank of America, JPMorgan and Wells Fargo gained ground after they reported robust quarterly earnings...
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