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Talks show largest US lender’s appetite for a payments network to support its credit card business
...Results at BofA, like its large competitors, were also dragged down by costs tied to last year’s regional banking crisis after the Federal Deposit Insurance Corp imposed another round of fees on the nation...
...The BBC risks reducing services to older people by its decision to divert spending from local radio to online services as part of a strategy to shift operations outside London, according to MPs....
...Meta and Google struck deals in 2021 to pay Australian media companies, including News Corp, newspaper publisher Nine Entertainment and a host of smaller websites, broadcasters and regional newspapers, an...
...JPMorgan’s service area did not overlap with WaMu’s, so it was not taking out a competitor. Finally, there was no cost to the DIF. In fact, JPMorgan paid nearly $2bn for the bank....
...Since the collapse of several large US regional lenders last March, Blackstone has been buying assets from banks and managing them on behalf of its credit and insurance clients....
...On the other side of the trade, investors could be a little too sanguine about BankUnited and FNB Corp, “which have above-average exposures to CRE office lending yet relatively low CRE reserve coverage”,...
...The bet on failed banks suggests Porticoes’ sponsors see more trouble ahead for the sector a year after the failure of Silicon Valley Bank shook confidence in US regional lenders....
...Yet while they are keen to be seen to be taking strong measures, they are also seeking to de-escalate regional tensions and avoid a full-blown regional conflict erupting....
...which lost more than 14 per cent when reports of the break-up first went public in 2022, are up 9 per cent in the past year, although at 14 times forward earnings they still trade at a steep discount to regional...
...The last big merger between two banks occurred almost five years ago, when regional lender BB&T bought SunTrust for about $28bn in a $66bn deal, forming Truist....
...It recommended taxing capital gains at the same rate as the income schedule, which it said would raise £12.5bn a year for investment in local and devolved services....
...The FDIC employed its standard bank closure powers to handle last year’s regional banking crisis including the shutdowns of Silicon Valley Bank, Signature and First Republic....
...KDDI said it would help Lawson to push into ecommerce and envisaged the stores becoming places where a less mobile elderly population could receive online medical consultations and other services....
...*Ignites Europe is a news service published by FT Specialist for professionals working in the asset management industry. Trials and subscriptions are available at igniteseurope.com....
...Both sides were muted in their response to the assault, signalling that neither country wanted a further escalation that risked triggering a full-blown regional conflict....
...The regional headquarter rules “were drafted more with the mindset of companies that sell products rather than those who sell services”, said Michael Bessey, a director at consultancy Albright Stonebridge...
...Its own generative AI-supported services will benefit from improvements that come from the public....
...region — dubbed “the axis of resistance” — have since October engaged in exchanges of fire with Israel and attacked US forces and bases across the Middle East, leading to heightened fears of a broader regional...
...Federal Deposit Insurance Corp chair Martin Gruenberg has warned that the sharp rise in this “hot money” presents liquidity risks....
...A day after the embattled regional bank received a $1bn lifeline from a consortium of big name investors led by former US Treasury secretary Steven Mnuchin, management spoke of the “beginning of a new chapter...
...A year ago, an expected economic downturn in the US hung over the sector, which was already grappling with a post-pandemic slip in demand for digital services....
...These job cuts will be split between the firm’s London and regional offices, according to one person familiar with the details, with a London-based team advising financial services clients among those set...
...It comes as the US prepares to launch its first retaliatory strikes against Iran-backed proxy groups in the region that Washington holds responsible for an attack last week that killed three American service...
...It is still basically a regional bank, albeit a big one....
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