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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....
...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...
...More US credit card accounts were past due on their payments to the largest banks at the end of 2023 than at any time since 2012, according to data from the Federal Reserve Bank of Philadelphia....
...Seven banks — out of 45 then operating in the country — have been granted presidential approval, including Mercedes-Benz Bank, Ikano, J&T and Intesa....
...deposit accounts which would hit banks’ profit margins....
...JPMorgan Chase, Mizuho and Bank of America were named as the biggest fossil fuel industry financers last year, in a report by climate campaigners which calculates the world’s biggest banks have provided...
...An earlier finding, published by the committee as part of the investigation, found that more than 140,000 SMEs had their bank accounts closed last year....
...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....
...The state accounts for 70 per cent of national rice production, with 10 per cent expected to be lost because of the floods....
...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....
...Bank runs are their own kind of financial distress. Account holders are entitled to their funds on demand. And companies that ask for a reprieve rarely if ever get them....
...While the US accounts for roughly 15.5 per cent of global GDP (PPP), the dollar is involved in 88 per cent of all international currency transactions....
...Are you getting the best deal on your building society and bank savings? Check the latest interest rates on accounts from no-notice withdrawal accounts, to offshore and long-term savings....
...India’s main opposition party said its bank accounts had been frozen over tax issues barely two weeks before parliamentary elections were expected to be announced, depriving it of access to funds....
...The Financial Reporting Council, reviewing 263 mainly FTSE350 companies as part of its latest annual review, found 25 requiring restatements of their accounts....
...Argentina has refinanced about $50.3bn worth of peso-denominated sovereign debt in a record bond swap aimed at relieving pressure on public accounts and easing the path for libertarian President Javier Milei...
...The two banks account for a combined 18 per cent of branches in Spain, just behind CaixaBank’s 20 per cent....
...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....
...Meanwhile, people are stashing more and more of their money into investment funds rather than bank accounts....
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...Sceptics of the loose fiscal stance also fear it could stir inflation and impede the central bank’s ability to keep cutting interest rates....
...The tax measures would improve the federal government’s fiscal accounts by about 0.9 per cent of gross domestic product, according to local investment bank BancTrust, boosting market confidence....
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