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...At the start of 2023, Credit Suisse’s financial strength appeared bullet-proof. Its common equity tier one capital ratio exceeded 14 per cent, far above US regional bank Truist....
...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....
...Truist, the country’s seventh-largest lender, fell more sharply than any other US bank....
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‘When honey is not honey’
...Bank of America, the nation’s second-largest lender, said as it reported results on Tuesday that new loan growth stalled in the quarter, with BofA’s chief financial officer Alastair Borthwick calling lending...
...Shares in large regional lenders Truist, PNC and US Bank closed lower by 3.7 per cent, 2 per cent and 1.9 per cent, respectively, following the remarks....
...TMTG became a publicly listed company after merging with a cash-rich Spac called Digital World Acquisition Corp, several of whose founders have taken legal action....
...If the guidelines come into force, it will be the first time since the financial crisis that the watchdog has updated its rules governing takeovers....
...“Near-term AI demand is a bit higher than our available capacity,” said chief financial officer Amy Hood, which would affect the computing power available to customers seeking to deploy generative AI systems...
Its Luxembourg Sicav board has said costs might affect certain sub-funds ‘particularly on large flows’
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...British economist Wynne Godley is regarded as one of the few forecasters whose models foresaw the financial crisis....
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