Hints and tips:
Related Special Reports
...Formed in 2019 by a tie-up between BB&T and SunTrust, Truist lost nearly $5bn in the quarter, down from a profit of $1.6bn in the same quarter the year before....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...Truist, the regional bank formed in 2019 through the merger of BB&T and SunTrust, also cut its revenue growth target for 2023 “driven almost entirely by a lower net interest income outlook given higher deposit...
...I think a lot of people were anticipating a V-shaped recovery . . . People are now waking up the realisation that volatility is going to be normal going forward.”...
...Email me your thoughts at sid.v@ft.com. Latest news Amy Kazmin in Rome has a fascinating piece on why Giorgia Meloni is pushing back on Italy’s shift to digital payments....
...A version of this article was first published by Nikkei Asia on February 14 2023. ©2023 Nikkei Inc. All rights reserved....
...Investment banks and private conglomerates, known as chaebols, poured money into the sector, seeing new opportunities to cash in....
...Reach out to me (imani.moise@ft.com) or Sid (sid.v@ft.com) to let us know. Happy reading!...
...A version of this article was first published by Nikkei Asia on July 19. ©2022 Nikkei Inc. All rights reserved....
...Staff at the bank will miss a certain line item on someone’s bank statement or a certain form of income . . ....
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com....
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com. You can build it, but will they come?...
...Rivals AstraZeneca, Johnson & Johnson, Russia’s Sputnik V and new entrants such as Novavax make up the remainder of the market, which is forecast to double in value to $124bn next year....
...veteran policymaker Benoît Coeuré of the Bank for International Settlements in a speech on Friday....
...Pittsburgh-based PNC became the fifth-largest US bank by assets last year after it acquired the American business of Spain’s BBVA for $11.6bn, while a year earlier BB&T bought SunTrust for $28bn to create...
...It has had to raise more than $1bn from its existing investors and tap credit lines from banks to shore up its financial position....
...African governments can access a $2bn vaccine facility provided by the Cairo-based African Export-Import Bank as well as funding from the World Bank....
...Walmart, Salesforce, Johnson & Johnson, HP, Truist (formerly BB & T and SunTrust banks) and utility Southern Company gave rival US business school teams diversity goals to meet, and asked them to come up...
...The deal is the first large bank merger since BB&T bought SunTrust for $28bn in February of 2019, forming what is now Truist....
...The prospect of much lower bond yields — and, crucially, the expectation that central banks will contain any sharp rise — has encouraged investors to boost their exposure to the technology and healthcare...
...Last year, BB&T and SunTrust combined in a $66bn all-stock deal that created a commercial banking giant in the south-east of the US, with more than $400bn in assets....
...Recent acquisitions have demanded high prices or been mergers of equals, such as when BB&T combined with SunTrust last year to create a bank just bigger than Mr Demchak’s....
...“Markets are pricing a V [shaped recovery], everyone’s coming back to work, and this is going to be fine,” Mr Falco said. “I don’t think it’s going to be that easy quite frankly.”...
...Some hope a bigger fillip to Britain Inc will come from lower oil prices, but that is a vain hope....
...“This is not going to be a V-shaped recovery from here given the many months [or] years it will take for full repair, but it feels good now.”...
International Edition