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...Paris has emerged as the biggest winner, with Wall Street banks such as JPMorgan and Bank of America choosing the French capital for their main post-Brexit European centre....
...This included central bank reserves, the post office’s overseas revenues, satellites, the presidential jet — and, memorably, a three-masted ceremonial frigate when it visited Ghana....
...“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....
...Soak it in: Bank of America frequently updates this futile but oddly charming mosaic, showing the best-performing assets each year since the turn of the century....
...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....
...SELL: N Brown (BWNG) The online retailer is losing customers in what appears to be a continuing trend, writes Christopher Akers....
...The bank’s performance received a boost by a rebound in dealmaking that has also buoyed Wall Street rivals....
...Based on the price of these options, strategists at Bank of America say markets are now pricing in a more than 10 per cent chance of such a scenario within the next six months....
...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...
...Indeed, the more recent NBER paper finds that even the biggest and most sophisticated banks were hedging less than a third of their securities, and that almost two-thirds of US banks do not report any hedges...
...Poor data undermines trust and skews forecasting — as several central banks, including the Bank of England, discovered when it came to inflation....
...Last summer, a Russian court froze about $36mn worth of assets owned by Goldman following a lawsuit by state-owned bank Otkritie....
...Mexico’s biggest companies have broadly prospered though, with the country’s banks reporting record profits thanks to strong consumer demand and high interest rates....
...Citi, JPMorgan and Bank of America have all gotten in....
...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...
...Morán is prepared for a jail spell: better three years behind bars than a lifetime at the bank. Things do not go as expected....
...Alongside America’s highways, billboards jostle for drivers’ attention....
...The bulk of Russian central bank assets — roughly €190bn — is held at Euroclear, a central securities depository based in Belgium....
...The UK-based lender will book a $1bn hit to its pre-tax earnings in the first quarter of 2024 as a result of the sale, the latest in a series of moves to sell off parts of its operations....
...The bank’s common equity tier one ratio — a key benchmark of its balance sheet strength — stood at 19.4 per cent of risk-weighted assets by the end of last year, 0.1 percentage points higher than a year...
...Bank of America has shoved back its call for the first Fed cut from June all the way out to December — a huge jump for a tweak that typically moves in increments of one or two months at a time and that opens...
...Bank of Canada: Economists expect Canada’s central bank to hold interest rates for the sixth straight meeting, but observers will listen for guidance on a highly anticipated rate cut in June or July....
...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....
...They’re even big in consumer lending, where large and mid-sized banks have a greater presence....
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