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...Chief executive Jamie Dimon told a congressional hearing In 2022 that the bank would continue to invest in big oil and gas projects, saying that pulling out of such deals “would be the road to hell for America...
...for the bank ahead of a potential sale....
...“Finding those outside of North America is difficult.”...
...Remember, the Covid-19 pandemic caused a crisis of almost every other kind, but big US banks didn’t collapse....
...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....
...“Taken together, the absence of news and the passage of time have brought a Bank Rate cut somewhat closer,” Pill said on Tuesday....
...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...
...The Bank of Japan is likely to hold off from raising interest rates next week but investors expect the central bank to outline its response to rising inflationary pressures caused by the yen’s decline....
...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...
...Trade body UK Finance said the BoE had highlighted “a number of important issues” that banks needed to consider in terms of exposure to private equity....
...The bank reported a return on tangible equity — a key measure of bank profitability — of 12.3 per cent, down from 15 per cent last year but ahead of its target of more than 10 per cent for 2024....
...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”....
...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 European Central Bank has also suggested it will cut rates by June. The BoE noted an “improving outlook” for the UK economy, which fell into a technical recession in the second half of last year....
...Meanwhile, the Bank of England MPC consists of nine policy makers and a common staff....
...Elsewhere on Thursday… — How to talk to a person like ChatGPT (Ars Technica) — Index fund investments in banks (Bank Reg Blog) — How European soccer made peace with fasting during Ramadan (New York Times...
...And so there’s a big question about whether Japan really has moved to a new era of inflation or not. Let’s see. But I think give the Bank of Japan some credit....
...Last summer, a Russian court froze about $36mn worth of assets owned by Goldman following a lawsuit by state-owned bank Otkritie....
...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....
...Violence flared in the occupied West Bank on Saturday as settlers torched cars and buildings in Palestinian villages after the killing of an Israeli teenager in what the Israeli military said was a “terrorist...
...Ben Bernanke was brutally honest about the failings of the Bank of England’s economic modelling when he published a long-awaited review of its forecasting processes on Friday....
...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....
...UK stocks and bonds were higher ahead of the Bank of England’s monetary policy decision on Thursday amid a global market rally that came after the US Federal Reserve reaffirmed plans to cut interest rates...
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