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...US regional banks are not out of the woods yet....
...And one thing to start: JPMorgan Chase chief executive Jamie Dimon has shuffled his leadership team and consolidated some of the bank’s businesses, grooming potential candidates who could eventually take...
...Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...Signs of stress in the commercial real estate sector are now coming thick and fast....
...However, they are also among the largest commercial real estate lenders in Germany, where Deutsche Bank leads, followed by state-owned Landesbanks LBBW and BayernLB....
...Kate Duguid Will the Bank of England hint at interest rate cuts?...
...Now, he has promoted a putative successor who has no experience in the commercial aviation business and failed to change the trajectory of the floundering global services business unit (just as all her predecessors...
...In its decision, the central bank proudly notes the prospect “that the price stability target of 2 per cent would be achieved in a sustainable and stable manner”....
...The European Central Bank has announced one of the biggest overhauls of its connections to the financial system for a decade, outlining plans to lend more to commercial banks while shrinking its vast bond...
...From a report the investment bank sent out yesterday, with Alphaville’s emphasis below: — The wide adoption of hybrid work caused a structural decline in office demand....
...This is an audio transcript of the Unhedged podcast episode: ‘Will commercial real estate hurt regional banks?’...
...As part of its growth strategy, BBC Studios has also increased its debt facility with a consortium of commercial banks from £350mn in 2022 to £600mn this year, the FT can reveal, and has government permission...
...Bank of America’s chief executive Brian Moynihan said in December that the bank had identified just $5bn in commercial property debt tied to buildings in sectors of the property market in which prices had...
...Office blocks and shopping malls lie at the centre of the IMF’s worries over the health of lenders’ real estate portfolios, a senior fund official has said....
...The Bank of Japan signalled the beginning of an end to its ultra-loose monetary policy by also removing its yield curve controls, a policy that caps the yields of 10-year Japanese government bonds....
...Ilmārs Rimšēvičs, head of the Latvian central bank from 2001 until 2019, was found guilty by the Riga district court of accepting bribes and a fishing trip to Russia from shareholders of a now defunct bank...
...The headline acts will be the US Federal Reserve, the Bank of Japan and the Bank of England, but we will also have policy updates from (in no specific ranking order) China, Australia, Switzerland, Indonesia...
...Neumann has plans to regain control of the company. The poor state of the commercial property market does not inspire much hope for a turnaround....
...The Eurotower was designed by architect Richard Heil and was initially occupied by the Bank für Gemeinwirtschaft, a commercial lender, before the European Monetary Institute — a precursor to the ECB — occupied...
...Bank of America analysts wrote in a note that higher losses tied to commercial real estate office exposure “are a reminder of ongoing credit normalisation that we are likely to witness across the industry...
...New York Community Bancorp shares fell 38% on Wednesday, partly on worries about the bank’s exposure to commercial real estate....
...The US and the UK launched a new round of military strikes against Houthi targets in Yemen in response to a string of recent attacks on commercial vessels transiting through the Red Sea....
...Much has changed since the first artist-run spaces and commercial galleries opened in Miami in the Eighties and Nineties....
...The frequency of the attacks on shipping has caused many commercial vessels to avoid the Red Sea, which accounts for about 15 per cent of global seaborne trade, and instead take a far longer route around...
...Trouble in Europe The storm is also intensifying in Germany. Signa’s troubles will deal another blow to the country’s market, further curtailing banks’ appetite to lend to commercial real estate....
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