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...Accenture reported another big jump in revenues from generative AI projects in the three months to November 30, with $450mn in bookings compared with $300mn over the previous six months....
...Musk’s commitment to artificial intelligence was evident in a big jump in “AI infrastructure capex” to $1bn, resulting in cash flow of negative $2.5bn in the period....
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...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....
...The Federal Deposit Insurance Corporation on Thursday said the number of weak US banks had risen by eight to 52 in the final three months of 2023, the biggest jump since the demise of SVB....
...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....
...The PCAOB published unredacted inspection reports on the other large US accounting firms, showing a big jump in the number of flawed audits in 2022....
...On trips to call centres, Chenault recalled, Robinson would regularly jump in and take customer calls....
...Marc Filippino Stephen Foley is the FT’s US accounting editor. Thanks, Stephen. Stephen Foley Thank you very much....
...The jump in interest rates to the highest levels in decades has led to a big increase in mortgage scams, according to banks and regulators....
...In Stephen Rea’s portrayal at Dublin’s Project Arts Centre, the character nonetheless remains at one remove from physical and intellectual breakdown....
...Analysts expect charge-offs — losses on loans marked as unrecoverable — in the first quarter will jump to about $6.7bn collectively at JPMorgan, BofA, Citi and Wells, up from $3.85bn a year earlier....
...With me here in the FT studio to discuss some of this are my FT colleagues Stephen Bush. Hi, Stephen. Stephen BushHi, Lucy. Lucy FisherAnd Jim Pickard. Hi, Jim. Jim PickardHello....
...Stephen, let’s start with you. Stephen Bush Yeah....
...Wage floor watch | A second successive jump in the UK minimum wage will keep the Bank of England on high alert for signs of pay growth feeding inflation, even as broader price pressures in the economy start...
...The profit miss was a result of a jump in loan loss provisions, which rose 40 per cent from the same period a year earlier. Nonetheless, net income was up 23 per cent to $1.9bn, or $2.62 a share....
...But even as interest rate pressures are easing, a jump in unpaid loans could continue to hold down bank profits....
...But the increase of just 2.4 per cent was down from an 11.7 per cent jump in lending the year before....
...Soumaya KeynesCan I just jump in and clarify that I am very much in favour of the two being merged?...
...Still, analysts say the jump in credit card debt is a sign that a growing number of consumers are having a hard time keeping up with expenses given the increase in prices of everything from food to airline...
...A 34.5 per cent surge in mortgages was the primary reason for the jump in bank earnings, driven by a generous government stimulus programme designed to galvanise consumer demand....
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