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...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....
...America”....
...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...
...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....
...But the bank warned that inflation remains “elevated” for service prices, which rose at an annual rate of 6.1 per cent last month....
...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....
...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....
...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...
...This is not a proposal to weaken the independence of the Bank of England or modify its objectives....
...For the past 80 years, America really has been the “leader of the free world” — both an example of democracy in action and as the protector of its fellow democracies, through a network of alliances with...
...banks....
...Note in from Bank of America: the West is in decline. Specifically, the American West is in decline....
...The Bank of England is widely expected to keep interest rates on hold....
...The Bank of Japan has ended an era of negative interest rates, raising borrowing costs for the first time since 2007 in a historic shift as the country puts decades of deflation behind it....
...Bank of England deputy governor Sarah Breeden has called for more research into non-bank lenders to stave off a “credit crunch sourced in market-based finance”....
...This is an audio transcript of the FT News Briefing podcast episode: ‘Bank of Japan ditches negative rates’Sonja HutsonGood morning from the Financial Times....
...Latin America’s central banks began cutting earlier than the rest of the world in part because their rates were already at a much higher level, but their experience balancing the ongoing risks of inflation...
...At the end of January, two-thirds of South America had surface soil moisture in the lowest 30 per cent when compared with the long-term average....
...The Bank of England has fined the former chief executive of Wyelands Bank almost £120,000 for “multiple breaches” of regulatory rules in the run-up to the bank’s 2020 implosion....
...Several board members at the Bank of Japan called for a gradual path towards policy normalisation when the central bank last week raised interest rates for the first time since 2007....
...The Bank of England held a press conference after its decision to keep interest rates on hold. Watch the recording here:...
...The bank made no attempts to inquire about the purpose of large transfers made to and from Swiss accounts in their names, Finma said. Bank Audi has a history of ties to Lebanon’s political elite....
...of the 4,500 existing banks in the US were also vulnerable....
...Ermotti’s total pay also dwarfs the awards of chief executives at other major European banks, including Christian Sewing of Deutsche Bank, who was paid €8.9mn last year, and Andrea Orcel of UniCredit, whose...
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