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...If New York no longer wants to be known as the world’s premier financial centre (and host of a trillion dollar market for sovereign debt) so be it....
...BNY Mellon has been hit by more than $900mn in investment markdowns, litigation and costs related to a Federal Deposit Insurance Corporation assessment, as the last vapours of last year’s banking crisis...
...One of the US’s top banking regulators will release a report on Tuesday detailing complaints of years of workplace harassment at the Federal Deposit Insurance Corporation....
...Lending by US banks dropped by $36bn in the first three months of the year compared to the end of 2023, the biggest quarterly drop in more than three years....
...Separately, the Costume Institute Benefit, aka the Met Gala, is held in New York....
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...Shares of New York Community Bank plunged 40 per cent on Wednesday after a report that the bank was seeking to raise money to shore up its finances through a stock sale....
...The company has benefited from strong demand for ride-hailing and deliveries, as well as its growing advertising business. Uber recorded its first annual operating profit in its fourth quarter....
...The US bank did not specify what it would do with all of the proceeds but said in a statement that it would donate about $1bn in Visa stock to its charitable foundation....
...Tropin said his firm needs to have a presence in New York as the city remains a magnet....
...Yields, which move in the opposite direction to Treasury prices, dropped on Wednesday as Federal Reserve chair Jay Powell hinted the US central bank’s next policy move was unlikely to be a rate rise....
...But in recent years the practice has come to be dominated by helping borrowers raise new capital to refinance existing debt in the hopes of avoiding in-court restructurings, a product now broadly known as...
...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....
...The Bank of Canada’s next rate decision is on June 5....
...Concerns about the fate of NYCB have not caused a broader panic about the health of regional banks in general, though many of the stocks of those lenders were down as well on Wednesday....
...Joining Lieberman as a board member is Tom Naratil, formerly one of the highest-ranking US executives at Swiss bank UBS before he left in 2022....
...A top US bank regulator is proposing new limits on big bank mergers, in the wake of the failure of Silicon Valley Bank and two other banks last year, and the recent market turmoil around New York Community...
...The Bank of England is expected to keep interest rates steady at a 16-year high of 5.25 per cent on Thursday but traders will be on the lookout for signs of a possible cut next month....
...Palantir — known for its ties to government defence and security departments — said its commercial sales outpaced its government revenue in the first quarter and made up 47 per cent of group sales....
...Give the mobile number of the team captain and your team’s name. Tickets will go quickly, so don’t dawdle. Get that team together asap....
...Tiff Macklem told reporters during a Wednesday press conference that the Bank of Canada’s inflation indicators are “all moving in the right direction”....
...Instead, he had to settle for the moral support of Andrew Giuliani, the son of the former New York City mayor and his erstwhile lawyer Rudy....
...US stocks were muted on Tuesday as comments from the president of the Minneapolis branch of the Federal Reserve signalled interest rates may remain higher for longer....
...The prospect of US home ownership has hit a historic low for renters, according to a Federal Reserve Bank of New York survey that signalled an increasingly pessimistic view of the property market....
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