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...“There has been a shift in thinking in Washington about bank mergers....
...the Chamber of Commerce, said in a statement on Tuesday....
...Bank of Montreal, Canadian Imperial Bank of Commerce and Toronto-Dominion Bank already have $128bn worth of variable-rate mortgages that are in “negative amortisation”....
...Canada’s central bank is waiting for evidence of a sustained slowing of inflation, as it held interest rates steady at a 23-year high and upgraded its economic growth outlook for 2024....
...The US Chamber of Commerce has already filed a lawsuit alleging that the FTC overstepped its authority and further legal challenges are expected....
...Workers and labour rights activists have backed the ban, but business lobby groups, led by the US Chamber of Commerce, are rushing to block it through the courts....
...The letter said domestic companies make up 4 per cent of Canadian pension funds’ assets, down from 28 per cent at the end of 2000....
...Stephen Poloz, who led the Bank of Canada from 2013 to 2020, has been given the task of convincing Canada’s pension funds, which manage more than C$4tn (US$2.9tn), to allocate more capital at home....
...The history of banking suggests that, on the contrary, another wave of bank disintermediation is likely. The shift of lending away from banks has a long history....
...It has emphasised its technology prowess in building a digital-first bank. While it has a credit card loan book of $137bn, it also has issued a significant volume of auto and commercial loans....
...The Canadian dollar hit its weakest level against its US counterpart since late November after the country’s jobs report came in softer than expected ahead of next week’s central bank meeting....
...E-commerce consultants talk up potential solutions such as virtual fitting rooms, in which consumers can supposedly try before they buy, and Google has deployed artificial intelligence to help fine-tune...
...Both were seeking to impose additional regulatory scrutiny whenever investors hold more than 10 per cent of a bank’s shares....
...Imperial Brands: Shares advanced 2.8 per cent after the tobacco company embarked on the second half of a £1.1bn share buyback....
...Seven banks — out of 45 then operating in the country — have been granted presidential approval, including Mercedes-Benz Bank, Ikano, J&T and Intesa....
...Jefferies chief executive Rich Handler has sold $65mn of his stock in the Wall Street investment bank to buy a luxury yacht from longtime client Tilman Fertitta....
...The bank said much of the jump in loan losses was tied to credit cards and commercial real estate. The bank said it took losses on 16 different office loans in the quarter....
...Separately, the Senate commerce, science and transportation committee will hear testimony on the same day from three aviation experts who sat on the panel that criticised Boeing’s safety culture....
...As well as the big five US banks, Deutsche Bank made $8.6bn of revenues in FICC in 2023, also a significant gap....
...Dimon, 68, who as head of the largest US bank by assets often uses his public remarks to opine on issues well beyond Wall Street, said he was surprised that geopolitical tensions had not had a bigger impact...
...Several of the bank’s businesses — including credit cards and corporate transaction services — did better than expected in a quarter that many thought would be marred by the upheaval of the restructuring...
...BlackRock has 10 per cent or more of the shares in 38 bank holding companies that are supervised by the US Federal Reserve or the Office of the Comptroller of the Currency but which own FDIC-supervised banks...
...The 12 large cap banks followed by Morgan Stanley analysts, including PNC, JPMorgan Chase, Bank of America and Wells Fargo, now have more than $180bn of excess common equity tier one capital — a record high...
...Deutsche Bank has hired Alexandre Lotfi as head of wealth management lending for the UK and central Europe at its private bank. He previously worked for the Bank of Singapore....
...“Banks will be under pressure,” said Barry Gosin, chief executive of Newmark, which handled $50bn of loan sales for failed Signature Bank....
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