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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...
...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....
...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....
...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....
...However, to do better, we also believe that the World Bank must include the fundamental issue of transparency among its priorities....
...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...
...rate risk of bank assets”....
...In today’s newsletter: Miami’s golf scene Monaco bank’s mafia test KPMG cheating scandal Miami’s new billionaires drive up the price of golf The exodus of hedge fund managers and bankers fleeing New...
...There are, however, ways of moving money out of a bank account without going through the courts. Set-off allows a bank automatically to collect money that an account owner owes it....
...Brian Moynihan, the chief executive of Bank of America, said he expects the US economy to experience a “soft landing” next year instead of a recession....
...Fed Beige Book: The Federal Reserve will release its report on the current economic conditions of its 12 central bank districts....
...Bank of America’s monthly poll, published on Tuesday, showed that in November fund managers had the biggest bet on rising bond prices since 2009....
...Latin America’s biggest development bank plans to increase lending by about $112bn over the next decade, pushing up annual loans by almost half following an increase to its firepower and internal reforms...
...Citi, JPMorgan and Bank of America have all gotten in....
...Goldman Sachs: The investment bank is scheduled to release first-quarter earnings before the bell, following mixed results from other large lenders last week....
...This sly three-hour slow-burner is a crime drama of sorts — until it isn’t. It begins with a solitary middle-aged man, Morán (Daniel Elías), weary of the monotonous grind of working at a bank....
...But of course, we have Homer and Sylla’s “A History of Interest Rates” on our bookshelf too, so this extremely-long-view chart from a recent Bank of America Flow Show note seems OK, mostly?...
...In early November, the bank confirmed it was on track to generate an operating profit of at least €240mn in 2023....
...Sceptics of the loose fiscal stance also fear it could stir inflation and impede the central bank’s ability to keep cutting interest rates....
...Bank Private Bank....
...HSBC will also have to recognise $4.9bn in historical losses related to the falling value of the peso when the deal closes, which is expected to be within the next 12 months, the bank said on Tuesday....
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