Hints and tips:
...PNC Bank In many ways, PNC would be the best fit for First Republic....
...Blackstone recently sold its stake in One Liberty Plaza, a skyscraper in lower Manhattan, to Brookfield in a deal that valued the tower at $1bn....
...Additional reporting by Justin Jacobs in Houston...
...Several western countries have called for a rapid overhaul of the bank, post-Malpass, to increase its focus on global warming. “The changes in leadership of the World Bank mean something....
...US energy secretary Jennifer Granholm reiterated that to me in Houston last week, when she otherwise sent an olive branch to EU politicians still fuming about the Inflation Reduction Act....
...Large US regional banks, including PNC Financial and BB&T, have also sought to consolidate by buying smaller rivals....
...cut off from the European Central Bank, not sure what currency or laws were valid....
...That would bolster SME lending and yield cost cuts through branch consolidation. Citi foresees savings equivalent to 17 per cent of Sabadell’s costs, or €536m annually....
...The group said it was not planning any branch closures....
...In February 2022, the high-frequency trader’s crypto branch Jump Crypto led a $1bn funding round that enabled the Luna Foundation Guard — terraUSD’s quasi-central bank — to establish a “UST Forex Reserve...
...These range from tiny 12-branch operations such as Alma Bank to behemoths such as JPMorgan Chase....
...PNC has agreed to buy the US operations of Spanish bank BBVA for $11.6bn in an all-cash deal that will create the fifth-largest US bank by assets, delivering a jolt to a fragmented industry that has been...
...HSBC, which confirmed this month that it was exploring a sale of its 150-branch US retail bank, might simply wind down the operation, said one company insider....
...BBVA Spanish lender BBVA was offered a tantalising escape route from the US retail market last month when PNC offered to pay $11.6bn for the 637-branch operation....
...On Wall Street, meanwhile, higher prices are fuelling inflation fears and raising expectations that central banks will have to tighten monetary policy....
...A BBVA-Sabadell merger is likely to lead to branch closures to cut costs....
...BBVA, which last week agreed to sell its US assets to PNC in an all-cash deal for $11.6bn, had stressed that acquiring Sabadell was merely one of several options....
...A Crowne Plaza hotel in Houston was valued at $25.9m this month, down 46 per cent from when it was bundled into a CMBS deal in 2014....
...Bank of Oklahoma parent BOK Financial and Houston-based Cadence Bancorp are down 40 per cent and 60 per cent respectively since late February....
...The Best store in Houston, built in 1975 is, perhaps, the worst kind of building: stuck on the edge of the suburbs, accessible only by car, in a sea of steaming tarmac....
...The Houston branch of the Dallas Fed replicated the system during Hurricane Harvey in 2017. Just two weeks after Harvey came Hurricane Maria....
...The bank has struggled to recover from a fake accounts scandal, in which branch employees, hoping to hit incentives targets, illicitly opened millions of accounts for customers without their consent....
...Macquarie Capital has hired Fady Lahame to lead the bank’s French advisory business....
...Now it is the reputation of these banks that are at risk of being tainted....
...Sloan had been under pressure from both Congress and the bank’s own regulators as the bank worked to move past its fake accounts scandal, in which branch employees, hoping to hit incentives targets, illicitly...
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