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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....
...Thursday’s rate cut is the third since Milei took office in December, when the benchmark rate stood at 133 per cent....
...More than two-thirds of roles affected will be in “legacy operations” such as linear, rather than digital, TV....
...Adani Green, the renewable energy business owned by Indian billionaire Gautam Adani, said it was aware of a US government probe into a “third party” following a report that alleged his conglomerate was subject...
...JPMorgan Chase captured almost a fifth of all US bank profits in the first nine months of 2023, capitalising on a year of turmoil for the country’s financial sector to emerge even more dominant....
...Romance scams — in which fraudsters latch on to people looking for love — rose by over a fifth in 2023, underlining the growing appeal of this highly manipulative form of fraud to criminals....
...Third, the four largest US banks have paid out $630bn since 2013 in share buybacks and dividends, equalling more than 80 per cent of their net income — that’s what they are choosing to use their capital...
...Tim Spence, chief executive at Fifth Third Bank, based in Cincinnati, Ohio, said the competition for deposits remained “robust”, but that banks were no longer having to offer customers such generous terms...
...About two-thirds of American companies are incorporated in Delaware, attracted to the small, mid-Atlantic state by its sophisticated legal system....
...Sterling extended early losses against the dollar to trade down 0.4 per cent on the day at $1.273 after the Bank of England held rates at a 16-year high of 5.25 per cent for the fifth consecutive meeting...
...The Bank of England has kept interest rates on hold at 5.25 per cent for the fifth successive meeting, as evidence grows that inflation is falling....
...European stocks notched a fifth consecutive week of gains as investors continued to shrug off comments from European Central Bank President Christine Lagarde, who said on Thursday there was “more work to...
...Cutting Edge Group (CEG), a music financier, publisher and record label based in London, has secured $500mn from a syndicate of four banks, led by US lender Fifth Third Bank and Northleaf Capital....
...As a result, the Stoxx Euro Banks index has burst into life since mid-February, up nearly a fifth, far ahead of the broader Stoxx 600. As yet, lenders’ newfound generosity does not look sustainable....
...BofA disclosed the slowdown in loan growth as it reported first-quarter profits fell almost a fifth, while it set aside an additional $1.3bn for losses on its current loan portfolio, or 19 per cent more...
...Coventry is the UK’s third-largest mutual lender with about 2mn members and assets of £62.5bn....
...Vladimir Putin is seeking a fifth term in office. He will get it. Read more background on this week’s poll from my colleague Courtney Weaver....
...That shake-up is the driving force behind 20,000 job cuts at Citi, the third-largest US bank by assets....
...The IMF has said that Ukraine needs to limit its public debt levels to roughly four-fifths of GDP by 2028 and two-thirds by 2033....
...Canada’s central bank held interest rates at 5 per cent for the fifth consecutive meeting, opting to continue scrutinising inflation data before easing monetary policy....
...More than two-thirds of roles affected will be in “legacy operations”, Channel 4 said....
...Regulators want to cap the late fees that large card issuers can charge to $8 — less than a third of their current levels. Yet you wouldn’t know it from the share prices of the card companies....
...The UK’s third largest building society by assets has submitted a bid for Co-op Bank, in a deal that would return the private equity-owned lender to mutual ownership, according to people familiar with the...
...Shares of ICBC, the largest state-owned lender, are up a fifth in the past year. Yet they still trade at just 0.4 times its tangible book value, a fraction of that of its regional peers....
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